International securities regulator proposes framework for crypto assets
The International Organization of Securities Commissions (IOSCO) has proposed the first-ever global approach for regulating the crypto asset and digital markets. This game-changing development aims to fortify consumer protection and uphold market integrity across the expansive and evolving crypto landscape. In a paradigm shift for crypto finance, IOSCO has proposed a groundbreaking regulatory framework for the crypto asset and digital markets. International securities watchdog IOSCO unveiled on Tuesday the first global approach to regulating cryptoasset and digital markets, drawing on lessons from last years collapse of the FTX exchange that fuelled concerns over consumer protection. — SABC News (@SABCNews) 23 de maio de 2023 This significant step, spurred by last years FTX exchange collapse and a call for standardized rules by the crypto industry, has opened the door to a more secure and streamlined global crypto landscape. Jean-Paul Servais, the Chairman of IOSCO, characterizes the proposed regulations as a “turning point,” marking a concerted effort to address pressing risks to investor protection and market integrity. With a firm footing in established financial markets safeguards, the IOSCO proposals aim to manage a broad spectrum of potential issues, from conflicts of interest and operational risks to market manipulation. Filling the regulatory void IOSCOs policy recommendations, now open for public