Yesterday the International Organization of Securities Commissions (IOSCO), the global standards setter, published its policy recommendations for decentralized finance (DeFi) following a September consultation. One of the key recommendations is to identify the legally responsible person, which might be the members of a DAO.
It’s keen to see the nine recommendations deployed by its members which include familiar regulators around the world such as the CFTC and SEC in the United States, the FCA in the UK, BaFin in Germany, MAS in Singapore and the SFC in Hong Kong.
IOSCO’s position is that the rules applied to traditional finance (TradFi) should be applied to DeFi because the use of technology doesn’t make it fundamentally different.
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