Global securities regulator IOSCOPress plans to publish policy recommendations for DeFi and crypto by the end of next year. iamsandali reports.
The IOSCO's fintech task force, set up in March, will prioritize policy-focused work relating to crypto assets for the next 12-24 months, according to the document.
Two working groups – one headed by the U.S. Securities and Exchange Commission and the other by the U.K. Financial Conduct Authority – have agreed to publish reports with recommendations forscrambling to set up comprehensive rules for the crypto industry after markets collapsed earlier this year, wiping out a number of high profile companies and billions of dollars from the industry.
IOSCO members regulate securities markets in about 130 jurisdictions. The fintech task force is comprises 27 of theBoth working groups will focus on issues relating to market integrity and investor protection, and provide guidance on how existing regulatory frameworks for securities could be applied to digital assets.
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