ISDA Responds to HM Treasury's consultation on Cryptoassets
ISDA have submitted a response to HM Treasury's consultation and call for evidence on UK regulatory approach to cryptoassets and stablecoins in a letter dated January 2021.
Key points highlighted in the letter:
- The opportunities for the deployment of new technology such as distributed ledge technology (DLT) and smart contracts in the derivatives market.
- The importance of achieving greater legal and regulatory certainty: the response flags a number of areas where legal or regulatory barriers to deployment of new technology in financial markets currently exist
- The importance of common, digital standards and distribution of those standards across the industry: the reponse describes a number of important ISDA intiatives in this area, such as the ISDA Clause Library and Common Domain Model
Click here to read the full letter