MADRID, Spain—The International Organization of Securities Commissions (IOSCO) has introduced what it said is the first global approach to regulating crypto asset and digital markets.
The approach includes drawing on lessons from the 2022 collapse of the FTX exchange, which has fueled concerns over consumer protection, The Economic Times reported.
The recommendations are a "turning point in addressing the very clear and proximate risks to investor protection and market integrity risks," said Jean-Paul Servais, IOSCO chair.
The proposed standards cover dealing with conflicts of interest, market manipulation, cross-border regulatory cooperation, custody of crypto assets, operational risks, and treatment of retail customers, according to the Economic Times.
The report added that the 18 measures planned apply long-established safeguards from mainstream markets to eliminate conflicts of interest between the different parts of a crypto transaction.
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