A new association has emerged to represent the digital currency industry, making it the fourth trade group launched this year for the growing business sector.

The Digital Currency Trade Association is a nonprofit group that will "work closely with both the policymakers and regulators in striving to develop clearer guidelines for digital token creation," according to a news release. Membership will be open to all segments of the industry, from financial institutions to software operators.

"Right now, many blockchain and token economic activities are forming outside of the U.S. due to uncertainty in the industry, therefore this new organization has been formed to educate and meet with members of Congress and the administration to forestall this trend," the group said in a statement.

DCTA is entering a crowded field of trade groups seeking to represent companies that work with digital currency and related blockchain technologies. The Blockchain Association, Digital Trade Asset Association and American Blockchain & Cryptocurrency Association were all announced this year.

New York City attorney Manny Alicanrdo has been named DCTA's executive director. He previously ran as a Republican candidate for New York State attorney general. The association also has hired the lobbying firm Darling, Rothschild and Scott to help it get on its feet.

Founding members are Enzo Villani and Michael Terpin of Transform Group, Velocity Ledger, Alt 5 Sigma, Swarm Fund, XREX, Y2X, Delaware Board of Trade, Blockchain Revolution and Bitcoin Generation.

DCTA's website is digitalcurrencytradeassociation.com.

MORE CEO DATELINE

• European pension funds want association lobbying to reflect climate change concerns
• Independent truckers association disputes trucker shortage ‘myth'
• U.S. Chamber's Donohue urges civil political discourse
• MPAA celebrates 50 years of film ratings
• ASAE condemns political violence following bomb threats