Message from the Board

1st May 2014

Welcome to the Australian Digital Currency Commerce Association::

As the emerging landscape continues to develop around the global digital currency industry, the ADCCA has been established at the professional-level by key commercial interests and relevant influential stake-holders, to ensure Australian business and national interests are placed in a leading global position.

ADCCA has a founding mandate to act as the essential connection between merchants, industry, governments, regulators, financial institutions, key trade associations, and other complimentary policy forums. The ADCCA’s intent is to see the robust development of a world-leading regulatory framework and business environment created, to ensure Australia secures the benefits both today — and into the 21st century.

With the important need for our continued economic innovation in the evolving Asia-Pacific and global market place, Australia stands to gain considerably from the creation of new jobs, growth opportunities, and the considerable financial benefits that stand before us.

Throughout the coming months, the association is engaging in a consultative study across emerging and established traditional financial sectors. The ADCCA has an emphasis on national commercial enterprises, to measure and qualify industry needs and interests.

During this time, the ADCCA will also be preparing a set of DC Industry Standards & Code of Ethics (supported by direction on business Best Practices). This will be positioned in alignment with ISO standards.

At present, the ADCCA is engaging in dialog across a number of key stakeholders, including the Government representatives of big business, relevant trade & professional associations, as well as the established tech and financial services sector, identify potential working opportunities between these stake-holders.

If you are engaged in either the emerging, the established/traditional financial sectors, or are a representative of a commercial enterprise with a vested interest in the emerging digital currency/assets sector – and wishes to have a say in the ADCCA’s direction – please do so by making an EOI.


UPDATE

30th September 2014

Since it was founded earlier this year, ADCCA has made great strides bringing digital currencies to the attention of media, key regulators and legislators. We have met with government frontbenchers, heads of departments and agencies, along with other key financial sector and cross-industry stakeholders.

In May ADCCA made a submission to the Australian Taxation Office on its proposed tax treatment of digital currencies specifically Bitcoin.

On July 9th 2014, ADCCA hosted a Digital Currency Forum in Canberra. The forum brought together representatives of more than a dozen government departments for a productive and frank discussion on the issues facing industry and digital currencies in Australia, whilst laying out an inclusive roadmap forward. This exercise also brought together participants and contributors from some of the country’s leading law firms, enterprise representatives, taxation experts, other professional association’s liaisons and more.
On August 26th the ADCCA supplied the Financial Services Inquiry with it’s submission including a proposal on a self-regulatory model, advocating healthy government oversight. This can be viewed here.

The Australian Senate is holding an inquiry into digital currencies, which is due to report by March next year. This is particularly important to resolve the issues of taxation treatment and appropriate regulation that will encourage innovation and growth in our sector. We can now confidently say awareness of digital currencies has reached a critical mass; both in government and in the media.

Membership options will soon be available, followed by stakeholder networking and professional development engagements around Australia. We will have more to say on this in the near future.
You may also open a line of communication with us directly by emailing us via: submissions@adcca.org.au

Very sincerely yours on behalf of the Board,

Ronald M. Tucker
Chairman