25 Aug INATBA has issued a public position on the International Organization of Securities Commissions (IOSCO)’s Policy Recommendations for Crypto and Digital Asset Markets
The rapidly evolving world of crypto markets has taken a significant stride towards clarity and innovation as the International Association for Trusted Blockchain Applications (INATBA) issues a decisive public position on the Policy Recommendations for Crypto and Digital Asset Markets proposed by the International Organization of Securities Commissions (IOSCO).
IOSCO’s recent release of policy recommendations aimed at global regulators highlights the pressing need for effective regulations that ensure market integrity and protect investors in the dynamic crypto landscape. Recognizing the pivotal role of these recommendations, INATBA has taken a strategic stance to emphasize the importance of regulatory clarity and investor protection.
Advocating for International Cooperation and Consumer Protection
INATBA’s response resonates with a call for international collaboration, emphasizing regulatory clarity that safeguards consumers and facilitates legal action against crypto-asset criminal activities. The crypto-asset industry’s growth has unfortunately been marred by instances of fraudulent activities that hinder its true potential. In this context, INATBA and its dedicated members strongly advocate for the establishment of clear regulations that foster a secure environment and facilitate the prosecution of crypto-asset criminal activity.
Championing Judicial Clarity and Effective Regulation
In the face of emerging challenges within the industry, INATBA members emphasize the significance of shedding light on novel risks through effective regulation. The response points to ongoing market developments, including cases like FTX and Terra Luna, as examples that underscore the need for robust regulatory measures. By advocating for judicial clarity over market developments, INATBA sets the stage for policymakers to enact effective measures that protect investors and promote industry growth.
Learning from the European Approach
INATBA’s response recommends drawing from the regulatory principles introduced by the European Union through the Markets in Crypto Assets (MiCA) regulation. This strategic move aligns with the vision set by IOSCO, ensuring a framework that both protects investors and fosters innovation. This approach encourages global regulators, particularly members of IOSCO, to consider adopting these principles for a balanced regulatory landscape.
Encouraging Industry Collaboration and Balanced Regulations
INATBA’s commitment extends beyond mere policy recommendations. The organization highlights its active role in industry conversations and collaboration with National Competent Authorities (NCAs). This involvement enriches regulatory discussions and simultaneously fuels innovation in blockchain-based finance. The response advocates for fair and balanced regulations that accommodate the unique challenges and opportunities presented by blockchain-based financial technologies.
A Vision for the Future: Safe, Innovative, and Well-Regulated Crypto Ecosystem
INATBA’s dedication to fostering a secure, innovative, and well-regulated crypto ecosystem is evident in the public comment submitted to IOSCO. This response stands as a testament to INATBA’s unwavering commitment to industry betterment. By fostering collaboration and dialogue, INATBA aims to shape a regulatory landscape that not only addresses challenges but also propels the industry towards its limitless potential.
For a comprehensive understanding of INATBA’s position on regulatory measures, read the entire statement in the attached document.
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