In a move that’s sure to make waves in the financial world, GBBC Digital Finance has joined IOSCO as an affiliate member.
The International Organisation of Securities Commissions (IOSCO)
The International Organization of Securities Commissions (IOSCO) is a global association of securities regulators that was established in 1983. Its mission is to promote investor protection, maintain fair, efficient and transparent markets and seek to address systemic risks in the global securities markets.
IOSCO is recognized as the international standard-setting body for securities regulation, and it aims to coordinate and harmonize regulations across different countries and regions. The organization also provides a forum for members to exchange information, share experiences and cooperate on regulatory issues.
IOSCO’s membership includes more than 200 securities regulators from around the world, including the United States Securities and Exchange Commission (SEC), the Financial Conduct Authority (FCA) of the United Kingdom, and the Securities and Futures Commission (SFC) of Hong Kong, among others.
If you thought that joining IOSCO as an affiliate member just meant getting access to the world’s most exclusive securities regulators club, think again.
The goal of GBBC Digital Finance
According to insiders, GBBC Digital Finance is in it for more than just the free hors d’oeuvres and fancy suits.
As an affiliate member, they’re all about sharing experiences, collaborating, and working together to enhance cooperation between members.
Let’s be real: if there’s anyone who knows about cooperation, it’s a group of blockchain enthusiasts who can’t agree on which crypto is the best. But hey, who knows?
GBBC sees the opportunity as a way to make its voice heard and ensure that the world’s securities regulators take blockchain-based solutions seriously. And who knows? Maybe they’ll even convince some of them to trade in their suits and ties for Bitcoin t-shirts.
In a move that’s sure to make traditional securities regulators shudder, IOSCO has been ramping up its focus on cryptocurrency in recent months.
That’s right, the same group that once thought that “crypto” was the preserve for a James Bond thriller villain is now putting all its resources into understanding digital assets.
Read also: Deutsche Bank completes trial of tokenized investment platform
In a road map published in July, the fintech task force said it had made crypto assets a top priority.
If you’re a blockchain startup looking to shake up the financial world, just remember: there’s never been a better time to try to convince securities regulators that Dogecoin is the future.
Furthermore, The U.S. Securities and Exchange Commission (SEC) and the U.K. Financial Conduct Authority (FCA) are putting their heads together to come up with some groundbreaking recommendations for the crypto industry. That’s right, they’ve formed not one, but two working groups to tackle the tough issues facing the world of crypto assets and decentralized finance (DeFi).
And if you’re wondering what kind of revolutionary ideas they’ll come up with, don’t hold your breath.
We’re guessing it’ll be something like “maybe don’t invest your life savings in an NFT of a cat wearing a top hat?” or “perhaps don’t use your grandma’s computer to mine Bitcoin.” But hey, who knows?
Maybe they’ll surprise us all with a radical new plan for regulating the wild west of crypto. We’ll just have to wait until the end of the year to find out.
A DeFi Education Platform: Final Remarks
GBBC Digital Finance is wasting no time making its mark on the International Organisation of Securities Commissions (IOSCO). The group was so eager to get involved that it immediately joined the Consultative Committee of IOSCO as the 70th member. And you know what they say: if you’re not first, you’re last. Now that GBBC is in the room where it happens, it’s well-positioned to make its voice heard in the high-stakes world of securities regulation. We can only hope they’ll have a secret handshake and cool code names.
Lawrence Wintermeyer, the chair of GBBC Digital Finance, has pledged to help IOSCO achieve its aim of world domination. Okay, maybe that’s not exactly what he said, but close enough. In a statement, Wintermeyer promised to use GBBC’s vast resources to support the two IOSCO Crypto-Asset Roadmap working groups, because apparently, that’s a thing.
Specifically, he said GBBC will “provide any assistance we can” to the Crypto and Digital Assets (CDA) and Decentralised Finance (DeFi) working groups. Meanwhile, GBBC Digital Finance CEO Emma Joyce is focusing on something even more ambitious: constructing a DeFI education and engagement platform. Because if there’s one thing the world needs more of, it’s education about decentralized finance. We can hardly wait to see what kind of platform they come up with. Perhaps, it will involve virtual reality and holograms.