All financial markets are complex and rely on clear rules and practices to maintain investors’ confidence. When the transactions are in digital assets—from cryptocurrencies to digital securities—that’s a new level of  abstraction for market participants to navigate. Now, a year-old association is working to define best practices and ethical conduct in the space and ensuring that standards make the leap to the blockchain era.

The Association for Digital Asset Markets (ADAM), announced last fall, published the first edition of its code of conduct this week. The comprehensive document dives into a variety of key areas to ensure  integrity, fairness, and efficiency in the marketplace. But one thing it does not aim to do is replace what came before.

“The ADAM Code of Conduct is intended to inform market participants on best practices and to complement, not replace, existing regulation, part of a long-term effort to define and promote ethical conduct by all digital asset market participants,” the association explains on its website.

The code, according to ADAM, was developed by its members, who play a variety of roles in the digital asset field, including trading exchanges, investors, asset managers, and brokers. The group collaborated with legal and academic experts and sought feedback from state and federal regulators.

In a news release, XBTO Group CEO Philippe Bekhazi, one of ADAM’s founding members, said the code’s provisions on risk management, conflicts of interest, transparency, and prevention of money laundering are intended to establish a well-functioning, trusted marketplace in digital assets.

“As digital asset markets continue to develop in size and stature and become ever more enmeshed in capital markets, it is important for us and our peers to level the playing field and establish the high standards and operating protocols deserving of this promising and innovative asset class,” Bekhazi said.

All 15 of ADAM’s members—five of which are newly added—are expected to sign the code in early 2020, the organization said.

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