By
Mayowa Adebajo
June 7th, 2023
The IOSCO group has been keen on regulating securities by all means necessary and GBBC seeks to help it achieve this aim.
GBBC Digital Finance is now an affiliate member of the International Organization of Securities Commissions (IOSCO). The body which focuses on ensuring an accelerated adoption of digital finance shared the announcement via a February 16 press release.
According to the release, GBBC now joins about 35 national securities regulators and more than 200 member organizations that make up the international association.
Meanwhile, GBBC’s addition to IOSCO may already be off to a good start. This follows after it immediately joined the Consultative Committee of IOSCO as the 70th member. By doing this, GBBC is now well-positioned to actively partake in the policy-making decisions of IOSCO. Even more, committee members like GBBC could also form groups to hold annual training on issues linked with securities.
GBBC Digital Finance to Collaborate with IOSCO on Its Crypto Roadmap
The IOSCO group has been keen on regulating securities by all means necessary. As a fact, it put out a “Crypto-Asset Roadmap” in July, setting out its regulatory agenda for the crypto sector for the next 12 to 24 months. In the same month, the IOSCO also partnered with the Bank for International Settlements to issue guidance on stablecoins. That’s not to mention that it had earlier released a paper on DeFi in March. This was when it warned of the varying degrees of risks that come with the technology.
In turn, GBBC Digital Finance chair Lawrence Wintermeyer has now pledged that the body will help IOSCO achieve its aim. He said in a statement:
“We will work with IOSCO to best engage our members in 2023 in providing any assistance we can to the two IOSCO Crypto-Asset Roadmap working groups, Crypto and Digital Assets (CDA) and Decentralised Finance (DeFi).”
In a similar statement, GBBC Digital Finance CEO Emma Joyce also said:
“Our priority at GDF in 2023 is engagement with regulators and policymakers and jointly examining how we might construct a DeFI education and engagement platform.”
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