Proposed Policy Recommendations for Crypto and Digital Asset Markets

On May 23, 2023, the International Organisation of Securities Commissions launched a consultation on proposed policy recommendations for crypto and digital asset markets. IOSCO is proposing that the final recommendations, which it expects to publish in Q4 2023, will help IOSCO members to apply the IOSCO Objectives and Principles for Securities Regulation to crypto asset activities. Responses to the consultation may be submitted until July 31, 2023.

IOSCO is proposing 18 recommendations that cut across the following areas:

• Conflicts of interest arising from vertical integration of activities and functions.
• Market manipulation, insider trading and fraud.
• Cross-border risks and regulatory cooperation.
• Custody and client asset protection.
• Operational and technological risk.
• Retail access, suitability and distribution.

The proposed recommendations do not cover decentralized finance activities, products or services. IOSCO will consult on recommendations for DeFi activities later this year.

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