GBBC Digital Finance joins IOSCO to help shape blockchain regulations

02/17/2023 22:55 • Blockchain Briefs • 94 views

It is reported that GBBC Digital Finance, the blockchain industry association, has joined the International Organization of Securities Commissions (IOSCO), which is an international institution that brings together global securities regulators and is recognized as the global standard-setter of the securities industry. IOSCO formulates, implements and promotes compliance with internationally recognized securities regulatory standards. It works closely with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda. As a digital asset industry association, GBBC Digital Finance aims to involve regulators and inform the world’s major regulators how to formulate policies.

Blockchain Industry Association GBBC Digital Finance joined the International Organization of Securities Commissions (IOSCO)

Analysis based on this information:

The blockchain industry association, GBBC Digital Finance, has announced that it has joined the International Organization of Securities Commissions (IOSCO) to help shape regulations for digital assets. IOSCO is an international institution that brings together global securities regulators and is recognized as the global standard-setter of the securities industry. Its focus is to formulate, implement, and promote compliance with internationally recognized securities regulatory standards. Joining IOSCO will allow GBBC Digital Finance to work closely with global regulators and inform them on how to formulate policies for the rapidly growing digital asset industry.

With the increasing use of blockchain and cryptocurrencies, there is a need for standardized regulations to ensure investor protection, prevent money laundering and terrorist financing, and foster innovation. The involvement of GBBC Digital Finance in IOSCO will provide crucial information on how blockchain technology can be regulated in a manner that does not stifle the growth of the industry. This relationship will enable GBBC Digital Finance to identify new trends and risks within the digital asset industry and provide its members with insights on how to navigate the changing regulations.

The relationship between the blockchain industry and global regulators has been historically tense, with the blockchain industry advocating for a more relaxed regulatory framework to stimulate innovation, and regulators growing increasingly concerned about the potential for fraud and other illegal activities. By joining IOSCO, GBBC Digital Finance will have the opportunity to work collaboratively with regulators to find a middle ground that protects investors while still allowing innovation in the industry.

In conclusion, GBBC Digital Finance joining IOSCO is a significant step towards standardizing blockchain regulations globally. It provides a much-needed platform to bridge the gap between the blockchain industry and global regulators, enabling the industry to thrive while ensuring that regulations are in place to protect investors. This move will undoubtedly have a ripple effect throughout the blockchain industry and set the tone for how digital assets can be regulated going forward.

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