Product Governance Framework

Definition ∞ A product governance framework is a structured set of policies, procedures, and responsibilities that guide the entire lifecycle of a product, from its conception and design to its distribution and post-sale review. This framework ensures that products are developed and offered in a manner that serves the best interests of customers, complies with regulatory requirements, and maintains market integrity. In the digital asset space, it addresses risks associated with complex or novel financial products. It promotes fair treatment of clients and responsible product innovation.
Context ∞ Regulatory bodies worldwide are increasingly emphasizing the need for robust product governance frameworks within the digital asset industry. News reports often detail new regulations or enforcement actions related to inadequate governance, particularly concerning complex crypto products. The discussion centers on how firms can effectively manage the risks inherent in rapidly evolving digital asset offerings while ensuring consumer protection and market stability.