The blockchain technology is catching a higher attention constantly with an international organization, comprising of the world’s top securities regulators as the latest.
The International Organization of Securities Commissions (IOSCO), active since its foundation in 1980s, is committed to support cooperation between global securities regulators related to standards development and information exchange. The blockchain technoglogy was one of the major topics of the debate at the international meeting held from February 16 to February 18 in Madrid.
According to the report, published by the organization: “On identifying and responding to emerging risks, the meeting last week was preceded, firstly, by Round Tables discussing recent market developments and volatility in world capital markets and, secondly, the challenges and opportunities posed by FinTech and – more particularly – distributed ledger technology – or blockchain.”
All the participants have agreed to support ongoing activity on “further research on financial technology subsectors with particular relevance for securities regulators, including blockchain”.
The blockchain technology topic, as well as of bitcoin, has been discussed at the IOSCO in the past, as for example in a presentation on April 2014, prepared by the organization’s research team, citing “bitcoin crowdfunding” as one of the challenges we will have to face in the future.
It is encouraging for the technology developing institutions, that support for the blockchain technology is coming from the top of the organization too.
The IOSCO’s secretary general David Wright stated for the financial news provider to SNL Financial in an interview from December, that the possible transparency gains blockchain tech could bring present an opportunity for securities regulators.
“You know who’s bought the particular product, so that’s good from a market abuse perspective, of controlling market abuse,” he added in the interview.
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