The International Swaps and Derivatives Association will release new standards and guidelines for digital assets in response to the bankruptcy events of cryptocurrency companies

ChainCatcher news, the International Swaps and Derivatives Association (ISDA) stated that the organization will develop new standards and guidelines for digital assets to address bankruptcy events of cryptocurrency companies like FTX, aiming to prevent creditors from being trapped in bankruptcy cases lasting for years, such as that of FTX. It is reported that the new standards and guidelines for digital assets will focus on issues related to termination netting and collateral, resolving problems associated with customer digital assets held by intermediaries, including: specific issues regarding how to hold these assets, how to handle these assets in the event of bankruptcy, and how to achieve the expected level of customer asset protection regarding related documentation and due diligence issues that need to be addressed. (Source link)