International Securities Regulator IOSCO to Focus on Global DeFi, Crypto Rules

In its first two years, the global standard-setter's new fintech task force will concentrate on setting up policy recommendations for digital assets.

By Sandali Handagama

Jul 11, 2022 at 1:00 p.m. UTC

Updated Jul 11, 2022 at 3:04 p.m. UTC

International standard-setter for securities regulation, IOSCO, plans to publish policy recommendations for crypto and DeFi by the end of 2023. (simoncarter/ Getty) — (simoncarter/Getty Images)

Sandali Handagama

Sandali Handagama is a CoinDesk reporter with a focus on crypto regulation and policy. She does not own any crypto.

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The International Organization of Securities Commissions (IOSCO), an association of securities regulators from around the world, is developing policy recommendations for crypto, according to a road map published Friday.

The IOSCO's fintech task force, set up in March, will prioritize policy-focused work relating to crypto assets for the next 12 months to 24 months, according to the document.
Two working groups – one headed by the U.S. Securities and Exchange Commission and the other by the U.K. Financial Conduct Authority – have agreed to publish reports with recommendations for decentralized finance (DeFi) and crypto assets respectively by the end of 2023.
Financial regulators around the world are scrambling to set up comprehensive rules for the crypto industry after markets collapsed earlier this year, wiping out a number of high-profile companies and billions of dollars from the industry.
IOSCO members regulate securities markets in about 130 jurisdictions. The fintech task force includes 27 of the 33 board member jurisdictions and is chaired by the Monetary Authority of Singapore.
Both working groups will focus on issues relating to market integrity and investor protection, and provide guidance on how existing regulatory frameworks for securities could be applied to digital assets.

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