Global Blockchain Business Council (GBBC), an industry association, has released its Global Standards Mapping Initiative 2.0 to provide a holistic view of the industry’s global activity.
- The initiative maps out the global digital asset landscape in terms of legislation, technical standards, industry standards and recommendations, university sources, as well as industry consortia.
- Specifically, GBBC created an interactive map to highlight blockchain-related regulation across 187 jurisdictions, as an expansion to the previous findings it released in October 2020.
- In the previous report, GBBC pointed out that the lack of harmonization in technical standards and regulation has threatened the blockchain industry’s broad-based adoption and progress.
- The new report, which is open-access, highlights priorities for the industry, including the need for commonality among regulatory approaches and taxonomies, while also pointing to several positive developments, including the proliferation of nimble, principles-based regulation in certain jurisdictions and blockchain adoption for tax compliance, the council said in a statement.