IOSCO lays out 9 policy recommendations addressing DeFi
IOSCO has released a set of nine policy recommendations to consider relating to DeFi, which complemented a set of recommendations issued in November on the oversight of digital asset markets.
IOSCO has released a set of nine policy recommendations to consider relating to DeFi, which complemented a set of recommendations issued in November on the oversight of digital asset markets.
Regulators from 131 jurisdictions worldwide are recommending a set of standard policies similar to those in traditional financial markets, with the suggestions targeted at digital asset service providers.
The Philippines securities regulator has teamed up with its U.S. counterpart and the Asian Development Bank to enhance digital currency crime monitoring, sharing insights on enforcement and regulatory standards.
As the effects of the FTX collapse continue to haunt regulators, IOSCO has joined other jurisdictions in calling for regulating digital assets, as seen in its newly published set of draft rules.
The IOSCO will raise control on digital currencies and related activities while “addressing the pre-identified vulnerabilities in the non-bank financial intermediation sector.”
The IOSCO sees the use of influencers to market projects as a major threat, with the report noting that these “finfluencers” can wield a great degree of control for new investors in the space.