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Project Pigeon has launched an APAC working group focused on creating governance and risk-management standards for permissionless blockchains. The consortium includes Elliptic, Digital Asset Association, Responsible Fintech Institute, and Baker McKenzie.
The initiative comes after the Monetary Authority of Singapore’s April 2026 consultation on the prudential treatment of crypto assets operating on permissionless blockchains. Its framework will focus on four areas, governance, technology, settlement finality, and AML/CFT risks.
Banks, digital asset firms, exchanges, and financial institutions across APAC will contribute to the work, with regulatory bodies involved as observers and consultants.
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The group plans to publish ‘Pigeon Permissionless Blockchains’ in Q1 2027, covering risk taxonomies, controls, governance processes, testing methods, and issue reporting.
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