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March 24, 2021

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.

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


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