The American Virtual Commodity Association has established six committees to provide standards and regulatory oversight for the encryption industry.

According to Decrypt, the US Virtual Commodity Association (VCA), a cryptocurrency exchange, today announced the formation of six committees to provide standards and regulatory oversight for the encryption industry. After the establishment and operation of the six committees, the Bank Secrecy Act and anti-money laundering, custody and security, law enforcement, insurance, market integrity and taxation will be addressed.