TechFlow news — On May 12, Ashley Alder, chair of the International Organization of Securities Commissions (IOSCO), said there is an urgent need for a joint body responsible for coordinating global cryptocurrency regulation, which could become a reality within next year. This week, as the stablecoin TerraUSD (UST) collapsed and markets plunged, the financial world turned its attention to cryptocurrencies. On Thursday morning, Bitcoin traded at a 16-month low. Alder stated that it's clear a global organization aimed at harmonizing crypto regulations is needed. He noted that global efforts on climate financing are "far ahead" compared to cryptocurrency regulation, despite crypto’s significance in global discourse. "At present, there is no equivalent in the crypto space," Alder said, adding that this situation could change by the same time next year.
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