An joint body to regulate the cryptocurrency regulations is likely to be made by International Organization of Securities Commissions (IOSCO) an association of global market regulators
Regulations of cryptocurrencies is clear need of the time. IOSCO International organization has announced the focus areas for next year with crypto regulations on top of the list alongwith the topics of COVID and climate change by calling them 3Cs.
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What is IOSCO
The International Organization of Securities Commissions is an association of organizations that regulate the world’s securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or the main financial regulator from each country.
The IOSCO is a Spain based organization currently operates in more than 130 jurisdictions, covering more than 95% of the world’s markets, and is considered to be the source for global standards of market operation.
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The stated goals of the IOSCO are to:
- Promote high standards of regulation for the sake of orderly and efficient markets
- Share information with exchanges and assist them with technical and operational issues
- Establish standards toward monitoring global investment transactions across borders and markets