Insights & News

Stradley Ronon Engaged to Launch Cryptocurrency Self-Regulatory Organization

March 26, 2020
Firm News
PHILADELPHIA – Stradley Ronon is pleased to have been selected to assist with the launch of an international cryptocurrency self-regulatory organization (SRO) headquartered in Chicago, Illinois. The Stradley team, led by Nicole M. Kalajian, is helping lead efforts to structure the new SRO and create a code of conduct and procedures for its members.

“We know the lack of oversight of the cryptocurrency marketplace has created a “wild west” impression of this emerging asset class. We are pleased to be able to assist cryptocurrency sponsors and interested financial intermediaries to create an organizational structure that will ensure participants adhere to certain standards, which we believe will inspire further innovation and growth,” said Kalajian. “Chicago is one of the leading trading towns in the nation, with the strongest trading in commodity futures. I am thrilled we are going to be launching an SRO in the Windy City.”

The SRO will seek to establish best practices and procedures across different categories of membership, as well as rules that govern the operation of members, enforced by a code of conduct to ensure ethical member behavior. In addition, the establishment of the SRO will provide other benefits to a wide range of stakeholders, such as:

• Data capture and identification and removal of ‘bad actors’
• Avenue for advocacy on behalf of members
• Dispute resolution forum for cost-effective and narrowly tailored dispute resolution
• Certificate and training opportunities specifically tailored to the cryptocurrency space
• Forum for educational and networking opportunities, leading to increased knowledge and innovation

For more information about the development of this this organization, please contact Nicole Kalajian directly at 312-964-3507 or nkalajian@stradley.com.

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