GBBC Digital Finance’s New Membership

On February 16, GBBC Digital Finance proudly announced its affiliate membership with the International Organization of Securities Commissions (IOSCO). This partnership represents a significant step towards strengthening international standards and frameworks in the realm of digital assets and securities.

Understanding IOSCO

The IOSCO is no small fry in the world of securities regulation. It boasts a membership of 35 national securities regulators and over 200 affiliated organizations. Their mission? To promote high standards of regulation to protect investors, maintain fair, efficient, and transparent markets, and to foster international cooperation.

The Role of Affiliate Members Consultative Committee

As the latest addition to the Affiliate Members Consultative Committee, which is now 70 members strong, GBBC Digital Finance will collaborate to influence IOSCO’s policies and standards. The committee is like the cool kids’ table at the lunchroom of securities regulation. Members brainstorm, share insights, and participate in annual training sessions on hot topics related to securities, making it a valuable resource for industry players.

Engagement Plans for 2023

In 2023, GBBC Digital Finance’s focus will be on deepening engagement with regulators and policymakers. Lawrence Wintermeyer, chair of GBBC Digital Finance, stated, “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).” Quite the ambitious agenda!

Addressing the Risks: IOSCO’s Crypto-Asset Roadmap

The IOSCO released its “Crypto-Asset Roadmap” in July, targeting areas like decentralized finance (DeFi). A paper on DeFi released in March revealed various risks linked to the technology, highlighting the need for a cautious approach amidst the innovation frenzy. Furthermore, a collaboration with the Bank for International Settlements to issue stablecoin guidance signals a proactive approach to regulation.

Looking Ahead: The Future of Digital Finance

As GBBC Digital Finance moves forward as a formidable player in the securities space, the organization’s merger with Global Digital Finance in May 2022 positioned it with a robust infrastructure. With over 500 institutional members and 178 ambassadors across 95 jurisdictions, the focus on education and regulatory engagement in DeFi promises to bring a wealth of insights and standards into the crypto marketplace.