Amid a global crackdown on the cryptocurrency industry, an international association of 130 securities and futures watchdogs, known as the International Organization of Securities Commissions (IOSCO), has unveiled a set of 18 policy recommendations to regulate crypto and digital asset markets worldwide. These measures address various concerns, including conflicts of interest, cross-border cooperation, asset custody, operational risks, market manipulation, and customer protection.
IOSCO’s aim is to establish consistency in the approach to regulating crypto activities among its members due to the borderless nature of these markets and the potential risks to retail investors. The organization seeks harmonized regulation across jurisdictions for both crypto-asset and securities markets, based on the principle of equivalent treatment for equivalent risks.
In the US, cryptocurrency firms are grappling with regulatory uncertainty. The legal dispute between the US Securities and Exchange Commission (SEC) and Ripple over the status of the XRP token as a security reflects the ongoing challenges in defining the regulatory framework for cryptocurrencies.
By FCCT Editorial Team
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