Overview
What is Virtual Commodity Association Incorporated?
Virtual Commodity Association Incorporated is a nonprofit organization based in New York City, specifically at 315 Park Avenue South, 18th Floor. Its primary focus is to self-regulate the cryptocurrency marketplaces in the United States. To achieve this, the association has established an industry-sponsored, self-regulatory organization (SRO) designation. This SRO is tasked with overseeing virtual commodity marketplaces, ensuring sound practices and appropriate oversight. To this end, the organization has launched six committees, appointed two special advisors, and made board leadership appointments. The association's mission is to create a safe and reliable environment for cryptocurrency transactions.
Official website here: www.virtualcommodities.org
Is Virtual Commodity Association Incorporated legitimate?
Virtual Commodity Association Incorporated is a legitimate nonprofit organization registered as a 501(c)(6) entity. Virtual Commodity Association Incorporated submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.virtualcommodities.org
What is the mission statement of Virtual Commodity Association Incorporated?
The Virtual Commodity Association Incorporated, as a non-profit organization comprising cryptocurrency exchanges and custodians, aims to establish an industry-sponsored, self-regulatory organization (SRO) for U.S. cryptocurrency marketplaces. This SRO is intended to oversee virtual commodity marketplaces, with the goal of setting sound practices and oversight for self-regulation within the cryptocurrency sector. To accomplish this, the organization has initiated six committees, appointed two special advisors, and made board leadership appointments.
Official website here: www.virtualcommodities.org
What is the revenue of Virtual Commodity Association Incorporated?
Virtual Commodity Association Incorporated's revenue in 2021 was $0.
Official website here: www.virtualcommodities.org
Who are the executives of Virtual Commodity Association Incorporated and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.virtualcommodities.org
Where can I find the form 990 for Virtual Commodity Association Incorporated?
Virtual Commodity Association Incorporated's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.virtualcommodities.org
Learn more at the official website: www.virtualcommodities.org
Mission Statement of Virtual Commodity Association Incorporated
Virtual Commodity Association Incorporated, a non-profit organization comprising cryptocurrency exchanges and custodians, aims to establish a self-regulatory organization (SRO) designation for U.S. cryptocurrency marketplaces. This mission is geared towards overseeing virtual commodity marketplaces, promoting sound practices, and ensuring proper oversight within the cryptocurrency industry. The organization has taken active steps towards achieving this goal, appointing board leadership, establishing six committees, and appointing two special advisors to guide and shape the self-regulation process.
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Impact
October, 2024
Virtual Commodity Association Incorporated significantly impacts the cryptocurrency landscape by working towards the establishment of a self-regulatory organization (SRO) for U.S. cryptocurrency marketplaces. This initiative aims to provide oversight and promote sound practices across the industry, enhancing the legitimacy and stability of virtual commodity trading.
The organization has initiated the formation of six committees, which focus on various aspects of cryptocurrency exchange operations and standards. By appointing special advisors and board leadership, the association is positioning itself as a leader in promoting accountability within the cryptocurrency sector.
Through its efforts, Virtual Commodity Association contributes to fostering trust among consumers and investors while advocating for industry-wide best practices. This self-regulation aims to mitigate risks associated with the often volatile and unregulated cryptocurrency markets, ultimately leading to a safer and more transparent trading environment.
This information is meant to be a general summary of Virtual Commodity Association Incorporated. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
Assets and Liabilities:
- Total Assets: $509,759
- Total Liabilities: $0
- Net Assets: $509,759
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Organization Details
Founding Year
2019
Principal Officer
Yusuf Hussain
Website
www.virtualcommodities.orgNTEE Category
Code: Z99 - Unknown
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