Global Regulators Consider Launching a Joint Body to Coordinate Crypto Rules
Global market regulators are likely to launch a joint body within the next year to better coordinate cryptocurrency regulations, said a top executive of the International Organization of Securities Commissions (IOSCO). A Global Body to Coordinate Crypto Rules Top executives at the International Organization of Securities Commissions (IOSCO) discussed cryptocurrency regulation this week. Members of the global organization regulate more than 95% of the world’s securities markets in more than 130 jurisdictions. Emphasizing the need for a global group to align crypto rules, IOSCO Chair....
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London and Washington have launched a joint group to align rules for crypto and digital assets, officials said. Based on reports, the effort — named the Transatlantic Task Force for Markets of the Future — will include finance ministry staff and financial regulators from both countries and aims to produce recommendations within 180 days. Related […]
Kenya’s Capital Markets Authority (CMA) says the country needs a more encompassing approach that enables it to leverage other regulators’ expertise when testing crypto assets. Kenyan Crypto Interest Also, the Kenyan body, which favours a joint financial sector regulatory sandbox, says it is keen to forge “a common stance and joint-messaging with the Central Bank of Kenya (CBK)” when it comes to cryptos. The CMA’s latest commentary on cryptocurrencies follows the release of the Capital Markets Soundness report of Q1, 2021. According to the quarterly report,....
Mairead McGuinness said the U.S. and the EU were both moving forward on comprehensive frameworks for crypto, with President Joe Biden's executive order and the MiCA proposal. Mairead McGuinness, the commissioner for financial services, financial stability and capital markets union at the European Commission, is calling for global regulators to work together to address potential risks in the crypto market.In a Sunday opinion piece in political media outlet The Hill, McGuinness said the European Union and the United States could help lead the world in a regulatory approach for....
The Chamber of Digital Commerce (CDC) has launched the Global Blockchain Forum (GBF), a partnering of the leading trade associations for the blockchain and digital asset industries. The goal is to create industry best practices and international regulatory interoperability. Founding members include CDC, the United Kingdom Digital Currency Association, the Association of Crypto-Currency Enterprises and Startups, Singapore (ACCESS) and the Australian Digital Currency Commerce Association (ADCCA). The CDC website includes a global map dividing the regions of the globe into four sectors:....
Regulators in the U.S. and U.K. have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continued cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins across jurisdictions.”
US and UK Regulators Collaborate on Crypto Regulation
The U.S. Department of the Treasury published a joint statement last week on the U.K.-U.S. Financial Regulatory Working Group.
The group held a meeting on July 21. Participants included officials and senior staff from HM....