Cryptocurrency Q&A
Do Iosco policy recommendations legitimize crypto?
Do Iosco policy recommendations legitimize crypto?
ZenHarmony
Wed Jul 10 2024
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6 answers
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In recent years, the rise of cryptocurrencies has sparked widespread debate among regulators and policymakers. The International Organization of Securities Commissions (IOSCO) has issued a series of policy recommendations regarding the oversight of crypto assets. However, the question remains: Do these IOSCO policy recommendations truly legitimize crypto? Some argue that by providing guidance and oversight, IOSCO is effectively giving crypto a stamp of approval, legitimizing its status as a financial asset. Others contend that while the recommendations offer clarity and structure, they fall short of fully validating crypto as a legitimate financial instrument. What are the key considerations in assessing whether IOSCO's policies truly legitimize crypto? And what implications do these policies have for the future of the crypto market?
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6 answers
Maria
Fri Jul 12 2024
Regarding the inquiry on the legitimacy of crypto via policy recommendations, Servais clarified that IOSCO focuses on financial regulation.
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Caterina
Fri Jul 12 2024
The organization's mandate does not extend to treating cryptocurrencies as gambling, as some U.K. lawmakers have recently proposed.
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Sara
Fri Jul 12 2024
Such an approach falls outside the scope of IOSCO's regulatory framework.
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Federico
Fri Jul 12 2024
Servais emphasized that IOSCO's focus is on ensuring that financial markets operate fairly and transparently.
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Stefano
Thu Jul 11 2024
Cryptocurrencies, while innovative, are still a part of the financial ecosystem and thus require appropriate oversight.
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