New Chairman of the International Organization of Securities Commissions: The FTX Collapse Highlights the Urgency of Crypto Regulation

ChainCatcher news, according to Reuters, the new chairman of the International Organization of Securities Commissions (IOSCO), Jean-Paul Servais, stated, "The FTX collapse highlights the urgency of crypto regulation, particularly the regulation of crypto platforms. Platforms like FTX perform multiple roles, such as brokerage services, custody, proprietary trading, and token issuance, which can lead to conflicts of interest. For the sake of protecting investors, it is necessary to apply IOSCO's principles to crypto assets through targeted guidance, thereby providing additional clarity for these crypto markets. Regulatory work on such crypto platforms will be a focus in 2023." (source link)