According to a roadmap released last month by the Forum for the Exchange of Securities Market Information (IOSCO) between national securities regulators.
The project will have two workflows: one generally focused on crypto and digital assets, and the other on DeFi. The crypto work will be led by the UK’s Financial Conduct Authority and will focus on promoting fair and transparent markets and orderly training as well as addressing market suitability and manipulation issues, among others.
The SEC will lead the DeFi workflow focused on applying IOSCO principles and standards to common DeFi activities, products and services and highlighting the connections between DeFi, stablecoins and cryptoasset trading.
A spokesperson for the IOSCO General Secretariat said: “We believe it is time to change our approach, the crypto industry has made significant progress in terms of product structure and offerings, investors in the industry and its global reach.