The World Federation of Exchanges (WFE), the global association of securities exchanges and central counterparties, is asking the Financial Stability Board to draw up a taxonomy for crypto-assets that will also include Global Stablecoins (GSC).
There have been several industry projects that have targeted the challenge. Nine months ago, the Enterprise Ethereum Alliance (EEA) published the Token Taxonomy Initiative. Since then, the project was moved (along with the EEA leader) into a new technology agnostic group, the Interwork Alliance (IWA). Members of the new group include Accenture, the DTCC, and SIX Digital Exchange as well as another taxonomy body, the International Token Standardization Association (ITSA).
The IWA is working on three frameworks, where the taxonomy is just one of them. The others are legal clauses to go with the taxonomy and a market data analytics framework.
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