IOSCO publishes final policy recommendations for crypto & digital asset markets

November 17, 2023 11:00 PM AEDT | By Invezz

IOSCO publishes final policy recommendations for crypto & digital asset markets — Image source: Invezz

Crypto asset providers should prioritize investor protection

IOSCO’s detailed report highlights various crucial areas for regulating cryptocurrency & digital assets markets, including market manipulation, digital fraud, cross-border risks, and vertical integration conflict.

Under the retail distribution category, crypto asset service providers (CASPs) should prioritize investor protection. On this front, CASPs should ensure that investors are aware of the risks related to investing in cryptocurrencies and understand every detail about the products.

Also, digital assets providers should have suitable procedures to avoid selling cryptocurrencies to individuals that might not be appropriate for the asset class, considering facets such as knowledge & experience, investment objectives, and financial conditions.

Notably, IOSCO’s recommendations target a robust global regulatory framework to monitor internet investments, ensuring that crypto service providers follow rules that match the standards of the traditional financial markets.

Meanwhile, IOSCO seeks to ensure a global framework to monitor the evolving digital assets market. The organization wants clear guidelines that international regulators can use to ensure transparency and efficiency digital trading undertakings.

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