IOSCO to develop recommendations on cryptocurrencies and DeFi

The International Organization of Securities Commissions (IOSCO) has committed to developing regulatory standards for digital assets by the end of 2023. The plan is contained in the organisation’s roadmap.

IOSCO published its Crypto-Asset Roadmap for 2022-2023

📰 https://t.co/cOS86oQGSe#cryptoassets #DeFi #decentralizedfinance #crypto #roadmap pic.twitter.com/KzBm3RTcT4

— IOSCO Press (@IOSCOPress) July 7, 2022

The task has been assigned to the technology-focused working group formed in March. Its chair is a representative of the Monetary Authority of Singapore (MAS).

Within the group, two separate committees will be formed, led by the SEC and the FCA. They will present reports with recommendations on DeFi and cryptocurrencies. Participants will focus on market integrity and investor protection and propose ways to adapt existing regulatory frameworks for securities to digital assets.

Earlier in May 2022, IOSCO chair Ashley Alder forecast the creation of a joint body to oversee the rollout of rules for the cryptocurrency industry.

Earlier, European Central Bank Executive Board member Fabio Panetta urged coordination of global regulation of the industry.

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, rates and analysis.