ChainCatcher news, the International Organization of Securities Commissions (IOSCO) released regulatory recommendations for the cryptocurrency market on Friday, aimed at helping to formulate global regulatory responses to the risks posed by crypto asset service providers. It is reported that the International Organization of Securities Commissions (IOSCO) has been consulting on rules for the cryptocurrency industry since May, covering issues such as market abuse, conflicts of interest, client asset protection, disclosure of information, and risks associated with cryptocurrencies.

ChainCatcher message, the Bank for International Settlements (BIS) released a report stating that authorities can take three different approaches to address the risks of the cryptocurrency market: regulation, containment, or a call for a complete ban on the industry.It is reported that the BIS outlined the pros and cons of each approach and noted that they can be used in combination. Among them, banning cryptocurrencies would be an "extreme choice" that would limit innovation. Another option is to isolate cryptocurrencies from traditional finance and regulate the industry in a manner similar to the financial services sector. Additionally, the report suggests that central banks develop their own digital currencies to "encourage robust innovation." (source link)