The International Organization of Securities Commissions (IOSCO) put up for public discussion proposals for regulation of the markets of cryptocurrencies and digital assets.
The IOSCO supervisory body submitted for discussion by the participants of the international association the draft measures of global regulation of the crypto-assets market.
The proposals address issues such as abuse of market dominance, conflicts of interest, insecurity of customer assets, disclosure and other potential crypto-threats.
First and foremost, the proposals IOSCO are aimed at overcoming concerns about “investor security and the integrity of the digital asset market.”
The agency hopes to finalize and adopt international standards for regulating the crypto industry by the end of the year.
IOSCO brings together more than 30 national regulators, including the U.S. Securities and Exchange Commission.
The Financial Services Agency of Japan, the U.K. Financial Services Authority, and the German Federal Financial Supervisory Authority.
Earlier, SEC Chairman Gary Gensler said rules for cryptocurrency companies, token issuers and cryptocurrency exchanges already exist, but market participants are fundamentally unwilling to comply.