GBBC Digital Finance is now one of over 200 affiliated members of the International Organization of Securities Commissions, which also includes 35 national regulators.
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GBBC Digital Finance announced Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities.
IOSCO members include 35 national securities regulators and over 200 affiliated organizations. In addition, the IOSCO has an Affiliate Members Consultative Committee, which GBBC Digital Finance has joined as its 70th member. The committee provides input on IOSCO policy and standards. Committee members also form groups that hold annual trainings on securities-related issues.
The IOSCO released a Crypto-Asset Roadmap in July. GBBC Digital Finance Chair Lawrence Wintermeyer said in a statement:
“We will work with IOSCO to best engage our members in 2023 in providing any assistance we can to the two IOSCO Crypto-Asset Roadmap working groups, Crypto and Digital Assets (CDA) and Decentralised Finance (DeFi).”
The IOSCO released a paper on DeFi in March that highlighted several risks it saw in the technology. Also in July, the IOSCO teamed up with the Bank for International Settlements to issue guidance on stablecoins.
Related: IOSCO demands tighter scrutiny over ‘finfluencers’
The Global Blockchain Business Council (GBBC) is a global industry association for the blockchain technology ecosystem that engages in educational efforts and has maintained a presence at the World Economic Forum. It merged with Global Digital Finance, a market standards association for the adoption of cryptocurrencies and digital assets, in May 2022 to form GBBC Digital Finance.
— GBBC Digital Finance (@GlobalDigitalFi) February 16, 2023
At the time of the merger, the new organization had 500 institutional members and 178 ambassadors operating across 95 jurisdictions. GBBC Digital Finance CEO Emma Joyce said in the statement on Feb. 16, “Our priority at GDF in 2023 is engagement with regulators and policy makers and jointly examining how we might construct a DeFI education and engagement platform.”
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The Global Blockchain Business Council (GBBC) is proud to announce its Digital Finance business is now an affiliate member of the International Securities Services Association (ISSA).
The ISSA is the global securities services network, committed to promoting transparency, integrity and confidence in securities services through a global network of national associations, members and stakeholders that work together. Founded in 1988, the ISSA provides a definitive voice for banks and other securities service providers in the international marketplace.
As an affiliate member of the ISSA, GBBC’s Digital Finance business is well-positioned to leverage the extensive industry knowledge and resources the ISSA offers to its members. The affiliation will help establish GBBC’s Digital Finance business as a major player in the global securities services industry by providing support in the areas of legal, regulatory, technological and market developments.
The ISSA membership also represents an opportunity for GBBC’s Digital Finance business to share insights and experiences with global market players, which can result in more effective business strategies, improved customer service, and product innovation. Collaboration could lead to opportunities to create new market-oriented products and services.
The ISSA and its members have long played a significant role in developing harmonized standards for the securities services industry. Through the affiliation, GBBC’s Digital Finance business is well-poised to benefit from the close cooperation between the ISSA and its members, as well as from the development of new market regulations and frameworks.
The affiliation demonstrates GBBC’s commitment to a global approach to its Digital Finance business, and the long-term development of the international securities services industry. Having access to the resources of the ISSA, GBBC is better-positioned to continue to lead in the development of global market-oriented products and services to meet the ever-evolving demands of the industry.
