Codes, Standards & Networks


Alongside other industry associations, GDF has convened industry leaders to develop the standards needed to accelerate the adoption of digital assets, and ensure firms are able to meaningfully comply with global regulatory requirements.

The Global Cryptoasset Standard

The Global Cryptoasset Standards consists of a set of global principles that are intended to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of market participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behavior.

The cryptoasset market features a diverse set of participants who engage in the market in different ways and across various cryptoasset products. The Global Cryptoasset Standards is written with this diversity in mind however it is expected to apply specifically to cryptoasset market participants that engage in the cryptoasset market, including sell-side and buy-side entities, liquidity providers, operators of cryptoasset trading venues, and other centralized entities, namely large financial institutions, providing brokerage, execution, and settlement services.

The Global Cryptoasset Standard is organized around six leading principles: Ethics, Governance, Execution, Information Sharing, Risk Management and Compliance, and Confirmation and Settlement Processes. The Global Cryptoasset Standard is now closed for public consultation and being circulated for regulatory consultation. GBBC Digital Finance is seeking input and feedback from regulators and policymakers on the Standard and is looking forward to socializing and ratifying the final draft shortly. Should you have any queries or points to address, please reach out to GDF Head of Community, Madeleine Boys.

Download Paper

Global Financial Institutions for Cryptoassets (GFIC) Commitment Statement

The Global Financial Institutions Crypto Working Group (GFIC), administered by GBBC Digital Finance and chaired by Standard Chartered and Ownera, was established to work towards a common financial conduct and operating standards framework for crypto assets in the wholesale market. As a result of its commitment to developing the standards in collaboration with regulators and financial institutions, the group invites its members to certify to its Statement of Commitment to the Development of the Global Crypto Standards below.

Read the Full Statement Certify (Members Only)

Regulatory Knowledge Series

GDF's first Regulatory Knowledge Series, with René Michau, Standard Chartered, and Anthony Woolley, Ownera, aims to establish how the group can best engage regulators to shape the future of institutional crypto adoption. The rapid evolution and increased investment has driven the group, and fuelled a positive sentiment and growing demand for crypto assets from institutional investors. GDF's working group continues to play a significant role in establishing the industry voice representing financial institutions whilst establishing trust with global regulators to promote together a safe, efficient, transparent and innovative global crypto asset ecosystem.


The IVMS-101 standard, the universal common language for communication of required originator and beneficiary information between virtual service providers, was approved at the JWG plenary and ratified by GDF on the 6th May 2020.

Alongside IDAXA and the Chamber of Digital Commerce, GDF led the development of this standard. More information on IVMS-101 can be found here.

GDF Virtual Asset Due Diligence Questionnaire - Open for Public Consultation

The KYC/AML/CTF Working Group has developed Anti-Money Laundering Due Diligence Questionnaire for Virtual Asset Service Providers (VASPs). The questionnaire has been designed to provide an overview of the VASP’s anti-money laundering policies and practices. It may be used as part of the on-boarding entity’s AML programme’s due diligence requirements for a particular VASP. However, institutions are responsible for ensuring their AML programmes are designed to meet regulatory requirements/expectations and internal risk management standards of their jurisdiction, thereby determining the exact manner in which the Questionnaires are utilised in their AML programme.