On Friday October 10th, 2025, IOSCO hosted a
workshop in London gathering securities
regulators from around the world alongside
global digital asset industry leaders. The objective
and sentiment was clear – to understand the
threat that digital assets pose as a presenttense risk to global securities markets, and to
consider the best means available for securities
regulators to coordinate and manage this risk.
Read the main conclusions here
Understanding that the digital asset risk management dialogue must evolve immediately, IOSCO’s
workshop was timely and showed the unity between the industry and regulators to get this right.
Participants recognized that there will be more questions than answers but observed the following key
points:
In the face of growing holdings of offshore-issued digital assets, global coordination is not optional; it is the only viable path to stability.
Actors in traditional finance (TradFi), decentralised finance (DeFi) and regulators all need to acknowledge the current risk and seek to partner with the regulators – no one constituency has the answers.
Lessons from Lehman, Silicon Valley Bank, and from the 2022 fund crises stand out as highly relevant precedents for understanding digital asset risk, providing clear precedent on questions of asset segregation, custody risk and liquidity risk.
Regulators must move beyond jurisdictional constraints to build a cohesive global perimeter.
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