International Standard Setters are global organizations or committees responsible for developing and promoting common principles, guidelines, and rules across various sectors, including finance, accounting, and technology. Their work aims to harmonize practices, reduce inconsistencies, and foster stability and transparency worldwide. These bodies play a critical role in shaping global regulatory and operational frameworks.
Context
In the context of digital assets, International Standard Setters like the Financial Stability Board or the Basel Committee on Banking Supervision are actively developing recommendations for regulating cryptocurrencies, stablecoins, and decentralized finance. Their efforts seek to establish consistent global approaches to mitigate risks related to market integrity, financial stability, and anti-money laundering. News often reports on their consultations and proposed guidelines, which significantly influence national regulatory responses to digital asset innovation.
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