Self-certification is a process where an entity declares its compliance with specific standards or regulations without external third-party verification. This method places the responsibility on the entity itself to attest that its products, services, or practices meet established criteria. While it can streamline processes and reduce administrative burden, it relies heavily on the integrity and accuracy of the self-certifying party. In regulated industries, self-certification is often complemented by periodic audits or the threat of severe penalties for non-compliance.
Context
In the context of digital assets, self-certification is sometimes proposed as a regulatory approach, particularly for certain types of tokens or platforms. Debates often question its effectiveness in ensuring consumer protection and market integrity without robust oversight. News discussions frequently contrast self-certification with more stringent regulatory approval processes, weighing the benefits of innovation speed against the need for strong safeguards in a rapidly evolving sector.
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