The International Organization of Securities Commissions (IOSCO) will soon propose the first set of international rules for crypto assets, including how existing regulations apply to the industry, according to IOSCO President Jean-Paul Servais. IOSCO members, including the U.S. Securities and Exchange Commission, Japan's Financial Services Agency, and regulators in the U.K., Germany and France, have pledged to adopt the organization's recommendations.
Servais also said that the IOSCO's recommendations will clarify the extent to which existing principles and guidelines apply to cross-border virtual assets and service providers. In addition, private finance will become a new focus of IOSCO's work this year. (Reuters)