The president said that next year, global regulators are likely to create a joint body to better coordinate the enforcement of rules for the cryptocurrency industry. IOSCO Ashley Alder. It is reported by Reuters.

The boom in digital currencies like Bitcoin has become one of three areas that authorities are currently focusing on, along with COVID-19 and climate change, he said.

“If you look at the risks that need to be addressed, there are multiple risks. [криптовалют] in institutional-level discussions,” said Alder.

According to him, regulators lag behind in addressing the three main risks associated with digital assets: threats to cybersecurity, lack of operational flexibility and lack of transparency in the industry.

The head of IOSCO believes that the need for an international group to harmonize the regulation of cryptocurrencies by analogy with those available for financial markets is clear. “There is no such thing yet,” he added.

“But I think there is an understanding of its importance and it has become the order of the day. So I would expect it to be somewhere next year,” said Alder.

Earlier, ECB Board member Fabio Panetta called for coordinating global regulation of cryptocurrencies.