STATEMENT ON FSB PLENARY FRANKFURT MEETING AND IDAXA JOINT WORKING GROUP

STATEMENT ON FSB PLENARY FRANKFURT MEETING AND IDAXA JOINT WORKING GROUP

[SINGAPORE – 7 JULY 2023]  IDAXA (International Digital Asset Exchange Association) is pleased to acknowledge the recent FSB (Financial Stability Board) Plenary Meeting held in Frankfurt.  We appreciate the FSB's ongoing efforts to promote global financial stability and address emerging challenges in the digital asset landscape. As Co-Chair of IDAXA, I would like to highlight the significance of the FSB's work and underscore the importance of IDAXA's Joint Working Group (JWG), co-led by Paul Derham, in fostering collaboration and dialogue between the industry and regulatory authorities.

The FSB Plenary Meeting in Frankfurt served as a crucial platform for global financial leaders to discuss key issues and developments in the financial sector, including the growing prominence of digital assets. IDAXA recognizes the importance of international cooperation and the need for consistent regulatory approaches to foster innovation, protect investors, and maintain financial stability.

Through our Joint Working Group with the FSB, IDAXA is actively engaged in constructive discussions and knowledge sharing with global regulatory authorities.  The Joint Working Group serves as a bridge between industry stakeholders and policymakers, enabling meaningful dialogue and the exchange of insights to shape effective regulatory frameworks.  We appreciate the FSB's recognition of the importance of collaboration with industry participants and their willingness to engage with IDAXA in this endeavor.

IDAXA remains committed to advocating for a transparent, secure, and well-regulated digital asset ecosystem.  Our association represents leading digital asset exchanges, and we strive to promote responsible practices, adherence to international standards, and the highest levels of customer protection. We believe that collaboration between industry and regulatory authorities is essential for the development of robust frameworks that strike a balance between innovation and risk mitigation.

IDAXA is committed to fostering responsible growth and innovation in the rapidly evolving digital asset industry.  We actively engage with regulators, policymakers, and international organizations, sharing our expertise and advocating for a sustainable and secure digital asset ecosystem.  Together, we strive to ensure the long-term stability and growth of the global financial system.

Loretta Joseph

Co-Chair,

International Digital Asset Exchange Association  |  Delegate, Australian Digital Financial Standards Advisory Council