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Crypto Industry Body GBBC Digital Finance Joins Securities Regulator Group IOSCO as Affiliate Member
GBBC Digital Finance's goal is to engage regulators to inform how policy will be developed by the world's major regulatory bodies.
Updated Feb 17, 2023, 11:53 a.m. Published Feb 16, 2023, 4:01 p.m.
GBBC Digital Finance, a digital asset industry association, has become an affiliate member of the International Organization of Securities Commissions (IOSCO), an association of securities regulators from around the world.
Affiliate members of IOSCO share experiences with the aim of enhancing cooperation between members and thereby providing input into standard-setting for securities regulation globally.
STORY CONTINUES BELOW
As an association for the digital asset industry, GBBC Digital Finance's goal is to engage regulators to inform how policy will be developed by the world's major regulatory bodies.
IOSCO, regarded as the standard setter for securities regulation, has been increasing its focus on cryptocurrency in recent months, with its fintech task force prioritizing work related to crypto assets, according to a road map published in July.
Two working groups headed by the U.S. Securities and Exchange Commission (SEC) and the U.K. Financial Conduct Authority (FCA) are set to publish reports with recommendations for crypto assets and decentralized finance (DeFi) by the end of this year.
GBBC Digital was previously known as Global Digital Finance prior to its merger with the Global Blockchain Business Council, an industry association for blockchain technology.
Read more: Crypto CEOs Need to Accept That Existing Regulations Also Apply to Them
UPDATE (Feb. 16, 16:23 UTC): Updated headline to reflect that GBBC is joining IOSCO as an affiliate member.
UPDATE (Feb. 17, 11:50 UTC): Updated headline to reflect that GBBC Digital Finance that has become affiliate member of IOSCO.
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