Key Points:
- In Q2 2023, IOSCO will issue a consultation for its regulatory report on crypto assets.
- The organization’s final recommendations are expected to be released by the end of 2023.
- Another working group works on DeFi regulation, with a consultation set for the third quarter of this year and a final report due by the end of the year.
The International Organization of Securities Commissions (IOSCO) has indicated that it would begin a consultation for its crypto asset regulatory study in Q2 2023, with a final report due by the end of the year.
Another working group focuses on decentralized finance (DeFi) regulation, with a consultation expected for the third quarter of this year and a final report due by the end of the year. The date was published as part of IOSCO’s work plan for 2023/24.
According to the work program, IOSCO will prioritize investor protection in both sectors of the digital market.
IOSCO has described how current securities laws may be applied to DeFi in certain circumstances. It is also investigating the connections between DeFi and stablecoins, cryptocurrency trading platforms, lending platforms, and the larger financial markets.
In the past, the group issued studies on DeFi, stablecoins, and influencers in 2022. The IOSCO proposes that national regulators develop supervisory capabilities such as regulatory routes for reporting consumer complaints about deceptive and unlawful advertisements, as well as evidence-tracking mechanisms to deal with the quick speed and changing nature of online content.
IOSCO questioned if many of the supposed decentralized DeFi services are really under centralized control in the research. Another significant concern is who will have regulatory responsibility if the protocol is declared decentralized.
The Financial Conduct Authority (FCA) of the United Kingdom is heading the crypto working group, which prioritizes market integrity and transparency, as well as custody and safekeeping.
In terms of DeFi, the US Securities and Exchange Commission (SEC) is in charge of that organization, which likewise aims to protect market integrity. It is also investigating investor protection and financial stability threats.
The IOSCO is an organization of securities and futures commissions. Its board of directors includes 35 regulators and prominent executives, including the chiefs of the SEC and FCA.
As Coincu reported, the FCA has partnered with the Advertising Standards Authority (ASA) and Sharon Gaffka, a social media influencer who previously appeared on Love Island, to help educate financial influencers about the risks of promoting “get-rich-quick schemes” like crypto and non-fungible tokens (NFTs) to their followers.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
News
IOSCO Will Release Regulation Report In Q2 2023
Key Points:
- In Q2 2023, IOSCO will issue a consultation for its regulatory report on crypto assets.
- The organization’s final recommendations are expected to be released by the end of 2023.
- Another working group works on DeFi regulation, with a consultation set for the third quarter of this year and a final report due by the end of the year.
The International Organization of Securities Commissions (IOSCO) has indicated that it would begin a consultation for its crypto asset regulatory study in Q2 2023, with a final report due by the end of the year.
Another working group focuses on decentralized finance (DeFi) regulation, with a consultation expected for the third quarter of this year and a final report due by the end of the year. The date was published as part of IOSCO’s work plan for 2023/24.
According to the work program, IOSCO will prioritize investor protection in both sectors of the digital market.
IOSCO has described how current securities laws may be applied to DeFi in certain circumstances. It is also investigating the connections between DeFi and stablecoins, cryptocurrency trading platforms, lending platforms, and the larger financial markets.
In the past, the group issued studies on DeFi, stablecoins, and influencers in 2022. The IOSCO proposes that national regulators develop supervisory capabilities such as regulatory routes for reporting consumer complaints about deceptive and unlawful advertisements, as well as evidence-tracking mechanisms to deal with the quick speed and changing nature of online content.
IOSCO questioned if many of the supposed decentralized DeFi services are really under centralized control in the research. Another significant concern is who will have regulatory responsibility if the protocol is declared decentralized.
The Financial Conduct Authority (FCA) of the United Kingdom is heading the crypto working group, which prioritizes market integrity and transparency, as well as custody and safekeeping.
In terms of DeFi, the US Securities and Exchange Commission (SEC) is in charge of that organization, which likewise aims to protect market integrity. It is also investigating investor protection and financial stability threats.
The IOSCO is an organization of securities and futures commissions. Its board of directors includes 35 regulators and prominent executives, including the chiefs of the SEC and FCA.
As Coincu reported, the FCA has partnered with the Advertising Standards Authority (ASA) and Sharon Gaffka, a social media influencer who previously appeared on Love Island, to help educate financial influencers about the risks of promoting “get-rich-quick schemes” like crypto and non-fungible tokens (NFTs) to their followers.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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