The FIA European Traders Association (FIA EPTA) and the FIA Principal Traders Group (FIA PTG) have responded to the Board of the International Organization of Securities Commissions (IOSCO) Crypto and Digital Asset Markets Consultation. The letter supported IOSCO’s efforts to foster the development of a consistent global regulatory framework for digital assets.
FIA EPTA and FIA PTG said they broadly support the 18 policy recommendations contained in the Consultation and focused their comments on two of the six key areas covered by the recommendations: conflicts of interest arising from vertical integration of activities and functions; and custody and client asset protection. The letter cautioned that the vertically integrated nature of digital asset trading platform business models requires thoughtful oversight and management; and that the proper handling, custody and safeguarding of client assets is a critical component of digital asset market oversight.
- Digital Assets