IOSCO On Stablecoin Market Research
IOSCO (International Organization of Securities Commission), an international securities regulator, advised that several stablecoin implementations are securities.
On November 4, via a statement released, IOSCO explained to the public that on October 30, its board met to talk about stablecoins. Also, they have discussed the possible application of securities market regulations.
Aside from that, the regulator indicated that is studies some stablecoins over the course of 2019. Moreover, it acknowledges their potential benefits for market participants, investors, and consumers.
However, IOSCO cautioned that stablecoins also pose possible risks in the areas of consumer protection, market integrity, transparency, conflicts of interests, financial crime, and potential systemic risk.
Meanwhile, the FinTech network of IOSCO started May last year to assist the progress of feedback exchange. Then, it also produced an assessment for the board on how the security regulation standards of IOSCO may put to stablecoins.
However, IOSCO stated that it requires detailed knowledge of the way a given stablecoin runs to understand how they can regulate it. Mainly, IOSCO gave the need to know the rights and obligations the given crypto asset gives to network participants. Also, it requires to determine the continuing responsibilities of the investors when trying to establish whether a given crypto asset is security.
Bitcoin Price Lingers Over $9,300
Elsewhere, on Tuesday, crypto prices further showed upward momentum across markets. In addition to that, Bitcoin (BTC) hangs around the $9,300 price mark. And Stellar (XLM) is recently taking shots at the moon with gains of as much as 20%.
Moreover, Bitcoin was trading near to the $9,400 price mark for a large part of the day. But it is also indicating some signs of downward price behavior. The largest cryptocurrency worldwide traded on Tuesday at an intraday high of about $9,465. Additionally, it loses grounds towards its recent trading price of approximately $9,311.
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