{"id":13079,"date":"2023-05-24T08:01:51","date_gmt":"2023-05-24T12:01:51","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/icc-securities-watchdog-to-help-regulate-cryptocurrency\/"},"modified":"2023-05-24T08:01:52","modified_gmt":"2023-05-24T12:01:52","slug":"icc-securities-watchdog-to-help-regulate-cryptocurrency","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13079","title":{"rendered":"ICC Securities Watchdog To Help Regulate Cryptocurrency"},"content":{"rendered":"
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With a number of securities regulators across the world developing new rules for the crypto industry, the International Organization of Securities Commissions (IOSCO) aims to contribute to the ongoing discussion by releasing its own batch of crypto-focused policy recommendations.\u00a0<\/p>\n

IOSCO, which is an international body which brings together the globe\u2019s securities regulators, has prepared a report with 18 recommendations, and, following a consultation period, aims to complete its work on the proposed measures in the fourth quarter of this year.\u00a0<\/p>\n

New recommendations for securities regulators\u00a0<\/h2>\n

\u201cThe proposed recommendations are principles-based and outcomes-focused and are aimed at the activities performed by crypto-asset service providers (CASPs). They apply IOSCO\u2019s widely accepted global standards for securities markets regulation to address key issues and risks identified in crypto-asset markets,\u201d the organization said in its report.\u00a0<\/p>\n

\u201cThe proposed recommendations are activities-based and follow a \u2018lifecycle\u2019 approach in addressing the key risks identified in this report. They cover the range of activities in crypto-asset markets that involve CASPs from offering, admission to trading, ongoing trading, settlement, market surveillance and custody as well as marketing and distribution (covering advised and non-advised sales) to retail investors,\u201c according to the international body.\u00a0<\/p>\n

DeFi recommendations report to be released this summer\u00a0<\/h2>\n

What is noteworthy, IOSCO said that its recommendations do not cover activities, products or services provided in the field of decentralized finance (DeFi). This said, a relevant consultation report with proposed recommendations for DeFi is to be published later this summer, as indicated by the organization.\u00a0<\/p>\n

In the latest report, IOSCO said its recommendations cover a total of six areas:<\/p>\n