Michelle Bond, the recent global head of government and regulatory affairs at Ripple, is now the CEO of a company pushing crypto adoption on Wall Street. Michelle is the new CEO of “ADAM,” which is the Association For Digital Asset Markets. The membership based association is working with regulators to develop best practices for digital assets.
Michelle Bond & The Association For Digital Asset Markets
According to a recent report by Forbes, Michelle Bond will be the new CEO at “ADAM,” which is the Association For Digital Asset Markets. The membership based association and non-profit is working alongside regulators to develop best practices for digital assets in the traditional world. Aside from regulators, the association is also working with financial institutions, and entrepreneurs. ADAM is a diverse network of providers in the digital asset space such as trading platforms, custodians, investors, asset managers, traders, liquidity providers, and others.
Many believe Bond will be a valuable asset to the association based on her extensive experience in digital assets, regulation, and legal. Prior to “ADAM”, some of Bond’s positions included:
- Securrency – Board Advisor
- Ripple – Global Head of Government and Regulatory Affairs
- Blockchain.com – Global Head of Policy
- Bloomberg LP – Head of Global Regulatory Affairs & Public Policy
- SEC – Senior Counsel
- United States Senate – Committee on Banking, Housing, & Urban Affairs
During her time in the public and private sectors, Bond has worked extensively with legislators, global regulators, and industry related associations.
The Industry Needs ADAM
This year has already seen top level executives demanding clarity in the digital asset space. Ripple’s CEO recently stated that their company could be relocating to the UK due to issues with U.S regulations. Ripple which is valued at $10 billion, believes that U.S regulators are making it virtually impossible to innovate with digital assets outside of Bitcoin and Ethereum. Ripple has been waiting 2+ years to find out whether or not XRP is classified as a security. In other geographic regions like the UK, XRP is not considered a security. Digital asset companies in the U.S will rely on associations like ADAM to work with these regulators and formulate clarity around this emerging sector.
How ADAM Makes A Name For Itself
Bond stated that the association requires its members to comply with a Code of Conduct. This framework has been put together to ensure that the digital asset marketplace is operating in an ethical manner. The Code accompanies existing laws and regulations, in a push to create fair and compliant digital asset markets. By putting this Code of Conduct together, it will be an important reference for lawmakers, regulators, and other entities involved in digital assets. During her time serving as counsel at the senate and also working with the SEC, Bond wrote vast legislation.
According to Bond, the members currently involved in ADAM include:
- Anchorage
- BitGo
- BitOoda
- BlockFi
- BTIG
- CMT Digital
- Cumberland (DRW)
- Galaxy Digital
- Genesis Global Trading
- GSR
- Hudson River Trading (HRT)
- Parataxis Capital
- Paxos
- Sarson Funds
- Symbiont
- XBTO Group.
Mike Novogratz, the CEO of Galaxy Digital stated that:
“We look forward to Michelle leveraging her expertise to guide us through a rapidly changing landscape, grow our membership, and launch exciting new strategic initiatives that help our members stay ahead of breaking developments in digital asset regulation.”
John Sarson from Sarson Funds also believes that the addition of Michelle Bond will finally help crypto adoption creep into Wall Street.
Ripple And The Association For Digital Asset Markets
It is quite interesting that Ripple is not a current member at the Association For Digital Asset Markets. Could this be because Ripple is for sure planning on departing the United States? Time will tell if Ripple joins, but it is sure interesting, especially since Bond recently concluded a years worth of work with Ripple.
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