Global Regulators Set to Unite on Crypto – Expect a new joint body within the year
When the buzz around digital currencies like Bitcoin hovers higher than a hot pot, the world’s market watchdogs are scrambling to keep up. Ashley Alder, chair of the International Organisation of Securities Commissions (IOSCO) (and CEO of Hong Kong’s Securities and Futures Commission), shared at an OMFIF online forum that the crypto wave is the third big headline in regulators’ “Three‑C” battle—Covid, climate, and now crypto.
Why Crypto Needs a Central Hub
- Cyber security – Hackers love a good black market, and little coins keep them busy.
- Operational resilience – Crypto’s infrastructure is still a bit slippery; crashes happen when you least expect it.
- Transparency gaps – In the rush to mint and trade, not everyone is in the spotlight.
“We’re hearing a wall of concerns in institutional circles around crypto,” Alder said. “It’s the new frontier we’re risk‑watching.”
Volatility: The Crash that Caught Everyone Off‑Guard
Last week’s collapse of the so‑called “stable coin” TerraUSD sent a ripple through the market, prompting a Senate Banking Committee chair to demand tougher U.S. regulations. Meanwhile, Bitcoin took a nosedive of nearly 20% this week, a figure that sent shockwaves to both traders and regulators.
Learning From the Climate Playbook
“We’ve got climate finance frameworks—G20, that sort of thing—that work, but for crypto there’s none yet,” Alder complained. “It’s like we’re playing a game without a rulebook. We need a global group to align everything.”
His optimism? “Crypto has climbed the agenda, and next year we expect that momentum to keep growing.”
Bottom Line: A Global Crypto Body is on the Horizon
In a nutshell, regulators across continents are pushing for a unified body to tackle the intricacies of digital currencies. If we’re lucky, expect a collaborative platform that’ll help align rules, protect investors, and maybe add a dash of humor to the otherwise dry world of crypto policy. Let’s keep an eye on it—we might finally have the crypto version of a climate action summit!
