The International Organization of Securities Commissions (IOSCO) has released its recommendations for the first global approach to regulating cryptocurrency-based assets and digital markets.
The IOSCO released a report (pdf) on May 23 that includes 18 policy recommendations that aim to incorporate established safeguards from mainstream markets to eliminate conflicts of interest between the different parts of a crypto transaction.
The global watchdog for international securities said this would help create “a level playing field between crypto assets and traditional financial markets”.
This development follows consumers’ massive losses with the collapse of cryptocurrencies last year, which fueled concerns over consumer protection.
The industry, which typically only has to comply with anti-money laundering laws, has called for a uniform set of global regulations as different jurisdictions follow their own rules….