Definition ∞ A self-certification rule allows an entity to declare its compliance with specific regulatory standards without requiring prior approval from a regulatory body. This approach shifts the burden of proof to the regulated entity, which must maintain records and demonstrate adherence upon request. While it can streamline processes, it also places significant responsibility on the firm to accurately assess and attest to its compliance. In the digital asset space, this might apply to certain operational or technical standards.
Context ∞ The self-certification rule is discussed in crypto news concerning regulatory efficiency and the evolution of oversight models for novel technologies. The debate often centers on balancing regulatory burdens with the need for robust market supervision and consumer protection. Regulators typically pair self-certification with strong enforcement powers and periodic audits to ensure accountability.
Blockchain Knowledge
Cryptocurrency Foundation
Cryptospace Newsfeed
