IOSCO fintech working group plans to issue a set of policy recommendations for cryptocurrencies by the end of next year

The International Organization of Securities Commissions (IOSCO) fintech working group was recently tasked with developing a set of policy recommendations for cryptocurrencies for global securities regulators, The Block reported. Lim Tuang Lee, Chairman of the IOSCO Fintech Working Group and Assistant Managing Director of the Capital Markets Department of the Monetary Authority of Singapore, said that there is an urgent need for international standards, and the violent collapse of the cryptocurrency market earlier this year has largely affected IOSCO's development of "common standards". standard” decisions. IOSCO aims to publish the recommendations by the end of next year.