The WFE has expressed its support for all nine of IOSCO's policy recommendations concerning Decentralised Finance. The World Federation of Exchanges highlights the need for accurate categorisation of DeFi products and services, emphasizing that many DeFi services imitate traditional financial mechanisms but often carry greater risks.
We agree with the importance of identifying responsible persons, achieving common regulatory outcomes, and addressing conflicts of interest. Additionally, the WFE further stresses the significance of operational and technology risk management, clear disclosures, enforcing applicable laws, and promoting cross-border cooperation.
Furthermore, it is also important to underscore the necessity of understanding the relationships between DeFi, the broader crypto market, and traditional financial markets. The WFE advocates for continued investor education and the application of IOSCO standards to DeFi activities.
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For more information, please contact:
- Cally Billimore
- Manager, Communications
- Email: [email protected]
Phone: +44 7391 204 007 - Twitter: @TheWFE