Iosco issues DeFi policy recommendations
Iosco says that its recommendations should support greater consistency of regulatory frameworks and oversight for the nascent sector in member jurisdictions.
They cover six areas: understanding DeFi arrangements and structures; achieving common standards of regulatory outcomes; identification and management of key risks; clear, accurate and comprehensive disclosures; enforcement of applicable laws; and cross-border cooperation.
The DeFi recommendations compliment others for crypto and digital asset markets issued last month.
Jean-Paul Servais, chair, Iosco, says: "The risks of crypto-asset markets are real and we are tackling these in a coordinated manner, seeking consistent implementation of these Iosco Recommendations across our membership to best protect investors globally."
