- The IOSCO published ideas about “finfluencers,” decentralized finance, and stablecoin agreements.
- In IOSCO’s Fintech Task Force strategy, decentralized assets are covered by two main procedures.
In Q2 2023, the International Organization of Securities Commissions (IOSCO) will begin taking comments for its regulation report on digital currency. By the end of 2023, the organization intends to publish its final recommendations.
The dates are planned in the 2023–24 work program for IOSCO. In IOSCO’s Fintech Task Force strategy, decentralized assets are covered by two main procedures. A report on digital assets and cryptocurrencies is discussed in the first report, and a report on decentralized finance is discussed in the second report.
DeFi consultation is scheduled to begin in Q3 2023, which is very close to the end of the year. There is a statement in the work program text that indicates that IOSCO is going to place a high priority on investor safety in both sectors of the digital market:
“Through the outcomes of its work, IOSCO seeks to support the development of sustainable and innovative capital markets, while enhancing investor protection, maintaining market integrity, and reducing systemic risk.”
There have already been reports from the organization on influencers, stablecoins, and DeFi, which were released earlier in 2022. The regulatory channels to submit consumer complaints about deceptive and unlawful advertisements and the evidence-tracking procedures to deal with the rapid pace and dynamic nature of online information are among the supervisory capabilities that the IOSCO advises national regulators to adopt.
When it comes to DeFi, the IOSCO recommended national regulators gain “a granular and holistic understanding of the DeFi market,” which might improve their capacity to enact pertinent legislation.
As a result of the collaboration between the IOSCO and the Bank for International Settlements, the report on stablecoins for 2022 has been released. Both organizations define the stablecoin structure, which combines a number of tasks to produce a thing that supposedly serves as a store of value or a means of exchange.
A group of authorities on futures and securities regulation is known as IOSCO. Among the 35 members of its board are the leaders of the United States Securities and Exchange Commission, the United Kingdom Financial Conduct Authority, and the Commodity Futures Trading Commission in the United States.