The International Organisation of Securities Commissions (IOSCO) has released its regulatory policy agenda and work programme for the cryptoasset segment for 2022-23.
In March, the IOSCO formed a fintech taskforce with responsibility for overseeing and implementing its regulatory pipeline for fintech and cryptoassets. This will give priority to work around cryptoasset initiatives in its first one to two years of operation while also monitoring wider fintech development projects, particularly relating to financial stability, market integrity and investor protection concerns.
The taskforce has two workstreams, one focusing on crypto and digital assets (CDA) and the other concentrating on decentralised finance (DeFi).
IOSCO chair and CEO of the Securities and Futures Commission of Hong Kong (SFC) Ashley Alder says: “IOSCO’s ambitious roadmap will deliver the global policies needed by regulators to address the considerable risks arising from a rapidly developing, complex and opaque cryptoasset ecosystem while preserving the societal benefits of innovation.
Fintech Task Force chair and assistant managing director (capital markets) at the Monetary Authority of Singapore, Tuang Lee Lim, says: “The cross-border nature of cryptoassets and markets calls for a robust set of policy recommendations to support consistent and coordinated regulatory actions.
“In carrying out its work, the IOSCO Fintech Task Force will collaborate closely with other international bodies to address the priority areas of market integrity and investor protection, as well as their implications for financial stability.”
