The International Organization of Securities Commissions (IOSCO) will start consultations on its cryptoasset regulation report in the second quarter of 2023. The group's final recommendations are scheduled to be published in late 2023.
These dates are included in the IOSCO work plan for 2023-24. Within IOSCO’s FinTech Working Group program, there are two main work streams dedicated to decentralized assets. The first covers crypto and digital assets, and the second covers decentralized finance (DeFi). DeFi consultations will begin in Q3 2023.
According to the work program text, IOSCO will focus on investor protection in two areas of the digital market: "Through its work, the IOSCO seeks to support the development of sustainable and innovative capital markets, while enhancing investor protection, safeguarding market integrity, and reducing systemic risk."
Previously, in 2022, the organization released a report on DeFi, stablecoins and influencers. IOSCO recommends that national regulators have supervisory capabilities that include supervisory channels for reporting consumer complaints about misleading and illegal promotions, and evidence-tracking processes for responding to the rapid change and changing nature of information online. As for DeFi, the IOSCO urged national regulators to “develop a detailed and comprehensive understanding of the DeFi market,” which could improve their ability to formulate relevant legislation.
The 2022 Stablecoin Report is published by IOSCO and the Bank for International Settlements. Both agencies define stablecoin arrangements that "combine a set of functions to provide an instrument that purports to serve as a means of payment and/or store of value."
IOSCO is the association of securities and futures regulators. Its board of directors is made up of 35 regulators and senior executives, such as the heads of the U.S. Commodity Futures Trading Commission, the U.S. Securities and Exchange Commission and the U.K. Financial Conduct Authority.
