The International Organization of Securities Commissions (IOSCO) has published its Crypto-Asset Roadmap for 2022-2023, setting out its regulatory policy agenda and work program for the sector over the next 12 to 24 months.  The IOSCO Board-level Fintech Taskforce (FTF), established in March this year has been mandated to develop, oversee, deliver, and implement IOSCO’s regulatory agenda for crypto-assets.

The FTF has set up two workstreams focusing on:

• Crypto and Digital Assets (CDA) - The CDA working group (CDAWG) will be led by the UK Financial Conduct Authority (FCA). The CDAWG will primarily focus on issues relating to market integrity and investor protection. This will entail looking closely at (i) fair, orderly trading, transparent markets, suitability and market manipulation, and (ii) safekeeping, custody and soundness.

• Decentralised Finance (DeFi) - The DeFi working group (DeFi WG) will be led by the US Securities and Exchange Commission (SEC). The DeFi WG’s objective is to develop a shared understanding among IOSCO members of emerging DeFi trends and risks while providing guidance to IOSCO members on how to manage these risks within their regulatory frameworks.

Each workstream is aiming to publish a report with policy recommendations by the end of 2023.

If you have any questions, please contact James Delaney.