
The International Organization of Securities Commissions (IOSCO) has published for public comment recommendations on the regulatory policy of crypto assets.
IOSCO announces global crypto regulation recommendations.
π Link to the Consultation Report π https://t.co/Je0UQulWFs
π Link to Press Release π https://t.co/gf9qXuYdwE
π Link to the Crypto-Asset Roadmap 2022/2023 π https://t.co/Rcth0NkMmt#CryptoAssets #Regulation pic.twitter.com/aqXPmUmQJNβ IOSCO Press (@IOSCOPress) May 23, 2023
The document developed by the association’s experts covers six main areas:
- conflicts of interest arising from vertical integration of activities and functions;
- market manipulation, insider trading and fraud;
- cross-border risks and cooperation in regulation;
- storage and protection of client assets;
- operational and technological risks;
- suitability and suitability of assets for supply in retail markets.
The recommendations are mainly aimed at protecting investors and ensuring the integrity of the markets.
βThe consultation paper presented today received unanimous support from the IOSCO Council and is the result of an intensive period of regulatory risk assessment, information sharing and capacity building,β said IOSCO Chairman Jean-Paul Servais.
IOSCO expects that the final version of the document will become the basis for the development of uniform cross-border rules for the crypto industry. Reviews and comments are accepted until July 31.
The organization brings together 130 members who oversee 95% of the world’s securities markets. Its decisions are not binding on the participants.
Recall that in 2022 IOSCO formed two working groups under the leadership of SEC And FCA to make recommendations on the regulation of DeFi and cryptocurrencies, respectively.
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