latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

International Securities Watchdog Lays Out Crypto Regulation Strategy

International Securities Watchdog Lays Out Crypto Regulation Strategy
The International Organization of Securities Commissions (IOSCO) has introduced a global strategy to outline a balanced regulatory arena for crypto assets and protection for investors.

This initiative aims to tackle mounting concerns over consumer protection and draw lessons from the downfall of the FTX exchange last year.

IOSCO Strategy Covers Various Aspects

The IOSCO guidelines are a remarkable advancement in response to increasing worries around the lack of crypto regulations. This could especially remove concerns about consumer safety and apply learnings from the FTX exchange debacle.

Since the FTX bankruptcy in Q4 2022, several other businesses have shut down from the liquidity crisis and regulatory action. And for an extensive period, crypto industry actors have called out for a unified regulatory matrix. Different jurisdictions apply crypto rules differently, creating disparities in treatment.

IOSCO Chair Jean-Paul Servais said the newly proposed standards would be a critical turning point. Servais believes they will mitigate the immediate risks to investors and market integrity. The recommendations include cross-border regulatory cooperation, custody of crypto assets, treatment for retail customers, conflicts of interest, and market manipulation .

IOSCO’s 18 prescribed measures for strong conflict-of-interest prevention within cryptocurrency transactions incorporate robust safeguards from conventional markets.

The leading international organization that unites securities regulators worldwide plans to finalize these standards by the end of the year. It expects its 130 member countries to promptly integrate these regulations into their respective rulebooks. The Board of the body comprises securities regulatory authorities from various countries. It includes Australia, Belgium, Brazil, China, the UK, Dubai, US, among other countries.

As per the report, the consultation process is currently underway, seeking public opinion on the proposed regulations.

Will the US Wake Up to New Rules?

Additionally, the plan comes as the European Union gets set to enact thorough regulations for the industry by mid-2024. Recent  unanimous approval  of the Market in Crypto-Assets (MiCA) legislation represents a significant step toward implementing stronger regulations. The business community thinks this should increase pressure on other countries, especially the U.S. Congress , to create regulatory frameworks.

According to ARK Invest ‘s Yassine Elmandjra, regulatory uncertainty in the United States could be causing large trading businesses to scale back their participation. 

The analyst remarked that it is endangering the nation’s ability to innovate.

He claims that the U.S. may soon be overtaken by countries like the UAE and South Korea, among other top players competing for the global crypto leader title.
The post International Securities Watchdog Lays Out Crypto Regulation Strategy appeared first on BeInCrypto . shares this Contents always with License.

Thank you for Share!



Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News