S&P Global Ratings’ Post

Charting the Course for Global Virtual Asset Regulation: IDAXA Supports South Korea's Legislative Progress The International Digital Asset Exchange Association (IDAXA) recognizes the significant strides made by South Korea with the enactment of the Virtual Asset User Protection Act. This legislation is a commendable step towards integrating virtual assets into a robust legal framework. However, our journey towards a seamless and fully regulated digital asset environment continues. The need for additional legislation is clear – one that addresses the intricacies of virtual asset issuance and the operations of Virtual Asset Service Providers (VASPs). 🔎 The upcoming second-stage legislation will be pivotal in resolving conflicts of interest within the issuance and distribution of virtual assets. It's not just about creating rules; it's about fostering a stable and transparent ecosystem for innovations like stable coins and ensuring equitable market practices. With global regulatory bodies like the FATF, FSB, and IOSCO providing guidance, it's imperative for South Korea to adopt an informed and comprehensive approach to this new wave of regulation. 🤝 IDAXA is committed to facilitating productive dialogue between government bodies and industry participants. Our goal is to develop a comprehensive regulatory framework that not only protects consumers but also encourages continued investment and aligns with international standards. We urge all stakeholders to engage in this critical conversation. Your contributions are key to building a regulatory environment that supports the dynamic nature of financial technology and its global impact. Join us in shaping a future that leverages the full potential of digital assets. Read the release here: https://lnkd.in/gbDSKEPZ #BlockchainTechnology #ComplianceManagement #GlobalStandards #FinancialInnovation #IDAXA Loretta Joseph Asih Karnengsih Bryan Ventura  Frederick Fung Gabriella Kusz  Harpreet Singh Maan Ian Taylor Dr. James (Jung-Hweon) Jeon Geoffrey Brennan Christopher Brennan Mel Songco Philippe Le Saux Anson Zeall Rick McDonell Josée Nadeau

📩 The European Commission’s 2024 updates to the Markets in Crypto-Assets Regulation (MiCA) enhance cooperation and standardize oversight across the EU, ensuring greater transparency and data protection compliance in crypto-asset markets. 💡 Discover how these changes impact service providers, issuers, and market participants. See the details here: https://lnkd.in/dUCs3MGU

Raising the integrity and reliability of twenty first century global business and financial information.

📣 Significant Regulatory movement impacting any firms working with Crypto in the EU. The changes and timelines for MiCA are summarised here:

FinPlanet published some valuable insights about the expected European market potential of bonds in form of tokenized securities which was created in cooperaton with Cashlink and Marius Bauer, CFA. Take a look! 👇

While I won't be able to make it to TOKENFUTURE, my colleague Nikola Ristic had a chance to participate in the run-up to it. Check out the recording of the panel below and learn why identifiers and reference data are just as crucial for digital assets as they are in TradFi! Denis Dounaev from Digital Token Identifier Foundation and Stephan Dreyer from ANNA are also experts on the matter and on this panel.

Excited about our upcoming webinar diving into European Securities and Markets Authority (ESMA)’s recently released draft guidelines on categorising crypto-assets as financial instruments. 💻 The classification of assets as financial instruments hinges on various factors, including any rights associated with them. While market participants will be primarily responsible for accurately categorising assets, regulators retain the authority to contest these classifications at any point. Therefore, an asset initially labeled as a crypto-asset could subsequently be reclassified as a financial instrument triggering the need to seek authorisation under the Markets in Financial Instruments Directive. Join Ana James and me as we unpack the guidelines, share our perspectives, and speculate on the future implications. 🚨 To reserve your spot, register here: https://bit.ly/3UGyXgk XReg Consulting #CryptoRegulation #MiCA

This week Renee Berman will join a panel discussion on the adoption of digital assets and tokenization at the Swift Standards Forum in New York. Renee will provide an overview of a framework for adopting digital assets securities outlined in our latest white paper, Building the Digital Asset Securities Ecosystem. Learn more and register: https://okt.to/gOoeui Read the whitepaper: https://okt.to/qztIk5

DLT is more important to our industry than ever We're really excited to be sharing the Key Findings from our 5th annual "DLT in the Real World" research campaign this week. Led by ISSA - Intl Securities Services Association, with the support of Accenture, Broadridge and Ripple, and gathering views from over 350 firms across the capital markets, this research is the definitive "longitudinal" view of where we are on the evolution of this (still) new technology. If you are looking for a practical perspective on exactly where DLT and digital assets are being used today then download the key findings at https://lnkd.in/gExAzyy9 and reach out if you want to talk!

Working on the environmental impact of crypto? We re calling for bids in a tender initiated by the EP to develop a methodology and sustainability standards for mitigating the environmental impact of crypto assets: https://lnkd.in/gCQS8cy6