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ETA releases 5 guiding crypto principles

Tuesday, September 14, 2021 — 11:01:56 (EDT)

WASHINGTON — Sept. 14, 2021 — The Electronic Transactions Association (ETA) today released its "5 Guiding Principles for Crypto," which should guide the consideration of any new laws and regulations for cryptoassets.

As the trade association that represents the breadth of the payments industry, ETA has deep expertise in payments technology, including the use of cryptocurrencies, blockchain, and other crypto-related technologies to facilitate payment transactions (cryptoassets).

“At ETA, we are engaged in ongoing conversations within the industry and with policymakers about the promise and challenges of cryptoassets,” said ETA CEO Jodie Kelley. “We believe there is a common set of principles against which any proposed governmental policies should be measured. In this regard, the payments industry has been a leader in developing industry best practices for mitigating risk and protecting the payments ecosystem.”

As policymakers consider new laws and regulations for cryptoassets, ETA believes they should carefully consider the following principles and ensure that any proposal best serves the needs of consumers and businesses, furthers financial inclusion, preserves and strengthens the financial system, minimizes fraud and money laundering, and ensures that consumers and businesses continue to have access to a robust and innovative array of secure banking and payment options.

Download ETA's “5 Guiding Principles for Crypto” at www.electran.org/wp-content/uploads/2021-ETA-5-Guiding-Principles-of-CRYPTO.pdf

About ETA

The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $22.5 trillion annually in purchases worldwide and deploying payments innovation to merchants and consumers. For more information, visit electran.org.

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Source: Company press release.