IOSCO/FSB - Thematic Review Assessing the Implementation of Recommendations for Crypto and Digital Asset Markets
In recognition of the rapid development and growth of crypto-asset markets, in 2023, the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) each published high-level recommendations for the regulation and oversight of crypto-assets and global stablecoins.
The FSB’s framework consists of high-level recommendations (FSB Recommendations) that focus on financial stability, emphasizing the regulation, supervision, and oversight of crypto-asset activities and global stablecoin arrangements.
In parallel, IOSCO’s Crypto and Digital Asset framework consists of high-level recommendations (IOSCO Recommendations) that focus on market integrity and investor protection, and follow a ‘lifecycle’ approach, addressing key risks identified within the market, in accordance with the principle of ‘same activity, same risk, same regulation/regulatory outcome.’
