May 24, 2023
The International Organization of Securities Commissions published a consultation report with its proposed policy recommendations for regulating crypto markets as securities.
Details: The report from the IOSCO group of regulators generally proposes applying global standards for securities regulation to the crypto markets. The 18 policy recommendations under six key areas cover issues such as conflicts of interest, market manipulation, regulatory cooperation, and operational and technological risk.
Next: Comments are due by July 31, with IOSCO working to finalize the recommendations by the end of the year.
ICBA View: ICBA has repeatedly called on policymakers to ensure new policies directed at the crypto sector fully reflect its risks and to prioritize research on the specific effects of digital assets on community banks and their customers.