The Adan responds to IOSCO’s consultation on its international recommendations for crypto-asset markets
On July 31, 2023, Adan submitted its response to theIOSCOconsultation, which highlights regulatory considerations related to crypto-assets. Based in Spain, the International Organization of Securities Commissions is an international body that brings together financial regulators from around the world to harmonize regulations applicable to financial markets and facilitate cooperation among national authorities.
The document, prepared by IOSCO and availablehere, highlights the growing importance of crypto-assets and crypto-asset service providers (CASP) in the financial sector. It also emphasizes the need to regulate these activities to ensure investor confidence.
To facilitate the harmonization of rules governing crypto-asset markets at the international level, IOSCO has issued 18 recommendations to the national competent authorities responsible for regulating market operators in the crypto-asset sector. These recommendations cover several key areas, such as governance, transparency, the protection of client assets, the prevention of abusive practices, and the supervision of CASPs.
The Adan thanks IOSCO for taking this initiative by conducting a public consultation to gather feedback from members of the Web 3 industry.
Since its inception in January 2020, ADAN has consistently advocated for the establishment of appropriate regulations to protect investors, promote market integrity, and mitigate the risks associated with crypto-assets.
In the document we are providing, ADAN addresses the various questions raised by IOSCO and seeks to make a useful contribution to the ongoing discussions.
