IOSCO publishes crypto markets policy recommendations to address global regulatory risks. Global securities standards setter releases guidelines to manage risks from crypto asset service providers.

In November 2023, the International Organization of Securities Commissions (IOSCO), the main global standards setter for securities regulation, finalized and published a comprehensive set of 18 policy recommendations for crypto and digital asset markets. The measures target the activities of centralized crypto asset service providers (CASPs)—such as exchanges, brokers, and trading platforms—and are designed to bring them under a regulatory framework broadly consistent with that applied to traditional securities markets under the principle of “same activity, same risk, same regulatory outcome.” IOSCO’s work was led by its Board-level *Fintech Task Force, established in 2022 to coordinate global policy on fintech and crypto-assets. The recommendations set an international baseline across six key risk areas: conflicts of interest from vertically integrated business models; market manipulation, insider trading, and fraud; custody and client asset protection; cross-border risks and supervisory cooperation; operational and technological risk; and retail distribution and marketing. They respond directly to concerns raised by recent failures and misconduct in centralized crypto markets, aiming to ensure robust governance, asset segregation, transparent trading rules, surveillance against abuse, and stronger protections for retail investors using CASPs. While IOSCO’s standards are not laws themselves, they are intended to guide national regulators in designing or adapting their own rules, helping reduce regulatory gaps and arbitrage across jurisdictions. The initiative matters because it is one of the most detailed attempts by a major global standard setter to map crypto trading and intermediation into an established securities-regulation paradigm, rather than treating crypto as entirely separate. IOSCO’s crypto framework also complements work by the Financial Stability Board (FSB) on global crypto and stablecoin standards, and both bodies later launched thematic reviews to assess how jurisdictions are implementing these recommendations in practice. Over time, widespread adoption of IOSCO’s guidance is expected to shape licensing, conduct-of-business rules, and supervisory expectations for centralized crypto platforms worldwide, with a particular focus on investor protection and market integrity. "entities":["International Organization of Securities Commissions (IOSCO)","Fintech Task Force (FTF)","crypto asset service providers (CASPs)","Financial Stability Board (FSB)","Crypto and Digital Asset (CDA) Markets","IOSCO Board"]}`

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