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IOSCO pushes global tradfi rules to clean up crypto

IOSCO made 18 recommendations to fix major issues including fraud, pump-and-dump schemes and insider trading

Speaking at the FCA's offices, IOSCO’s Jean-Paul Servais said the group’s recommendation will help reduce regulatory arbitrage as crypto gets brought into the regulatory perimeter

Bloomberg via Getty Images
By
Jeremy Chan

The global body for regulators plans to develop a common set of recommendations that watchdogs across the globe can use when overseeing crypto.

In a 23 May consultation, the International Organization of Securities Commissions — which acts as a global standard setter for securities regulators — set out its view of the major problems plaguing the digital asset industry, with 18 recommendations around asset segregation and market surveillance to mitigate risks.

It...