Crypto Assets and Blockchain Technology Highlighted
The need to work towards greater convergence on standards for sustainable finance to address quality and consistency of disclosure, costs of issuance, and attractiveness to investors was discussed due to growing demand for responsible or sustainable investments globally.
The meeting also mapped key risks that could impede the growth of securities in the region. These included:
Regulatory responses to trading in Crypto Assets.
Cyber Security and resilience.
Unfavourable macro-economic environment.
Systemic issues around securities market trading and settlement infrastructure.
In the financial innovations space, Initial Coin Offerings and Crypto Assets remain a growing concern for the region and globally, especially in light of the targeting and flow of investments across borders"Paul Muthaura, MBS – C.E. Capital Markets Authority & AMERC Chair. pic.twitter.com/ZV3kK6Da1E
Paul Muthaura, CEO, CMA Kenya, acts as the char of the committee. The committee consists of 29 member states which includes Kenya, Egypt, Angola, Ghana, Nigeria, Uganda, Rwanda, South Africa, Tanzania, Seychelles, Dubai, Bahrain, and Qatar among others.
IOSCO is the leading international policy forum for securities regulators and is recognized as the global standard setter for securities regulation. The organization’s membership regulates more than 95% of the world’s securities markets in more than 115 jurisdictions and it continues to expand.