We are proponents of thoughtful, principles-based regulation.

We work to support regulation that protects the integrity of the markets and its participants, while encouraging innovation and the sustainable growth of the industry. Cumberland is a founding member of a number of organizations that are dedicated to advancing the ecosystem.
Blockchain Association Logo
Blockchain Association is comprised of a group of industry leaders advocating for innovation and collaboration.
Association for Digital Asset Markets (ADAM) Logo
Association for Digital Asset Markets (ADAM) is developing a code of conduct to foster fair and orderly digital asset markets where participants can transact with confidence.

Creating confidence in your liquidity provider.

DRW and its affiliates* have 30 years of history successfully navigating volatile markets, leveraging its deep expertise in risk management and its commitment to a culture of compliance.
  • DRW Holdings, LLC – LT Rated by Moody’s and S&P

  • FinCEN-Registered Money Services Business
  • Authorized by the Financial Conduct Authority in the UK
  • Cumberland International Trading Ltd. is licensed by the British Virgin Islands (“BVI”) Financial Services Commission under the BVI Securities and Investment Business Act.
  • Cumberland Global Limited is registered with the Cayman Islands Monetary Authority under the Cayman Islands Securities Investment Business Act
  • Member of International Swaps and Derivatives Association (ISDA)

Additional Licenses

We strongly believe in the need for clear regulation in the cryptoasset space. To that end, we have a number of licenses pending in other jurisdictions and continue to be proactive in the application process.

We work with officials to share our experience & expertise in the market to help design thoughtful policies.

Cumberland made the following specific recommendations in the President’s Working Group Stablecoins report , as we believe Stablecoins have the clearest path to important regulatory clarity and are a critical underpinning of the current crypto ecosystem.

Define “Stablecoins” as fully reserved coins backed by a single fiat currency in the form of cash and short-dated government securities.
Require that Stablecoin reserves be deposited at insured depository institutions and held in segregated accounts.
Establish disclosure and audit rules for Stablecoins, including a requirement that issuers regularly publish “proof of reserves” to support their ability to facilitate redemptions.
Require that Stablecoin issuers honor redemption requests above minimum value within a reasonable period of time at nominal cost, provided the request adheres to established banking rules.
Give oversight authority to established banking regulators.
*Most Cumberland Group entities are wholly owned subsidiaries of DRW Holdings, LLC.