FIA has filed a response to a consultation report on policy recommendations for crypto and digital asset markets from the Board of International Organization of Securities Commissions (IOSCO).
FIA’s response supports IOSCO’s efforts to bring greater consistency to regulatory frameworks and oversight of crypto-asset activities in its member jurisdictions as well as its efforts to address concerns related to customer protection, conflicts of interest and the cross border nature of these markets.
FIA appreciates IOSCO’s principles-based and outcomes-focused approach to bring crypto-asset service providers (CASPs) into the global regulatory framework and believes the regulation of digital assets should be underpinned by the simple, yet fundamental, regulatory principle: "same business, same risks, same rules." FIA is pleased to see this fundamental regulatory principle acknowledged in the IOSCO consultation as well as in the Financial Stability Board’s global regulatory framework for crypto-asset activities released 17 July 2023.
