ISSA Publishes an Updated Version of the Document "Crypto-Assets: Moving from Theory to Practice"

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 EThe report is available on ISSA's website
(Distributed Ledger Technology).

The DLT landscape has continued evolving over the last two years. There has been an increase in the adoption of technology and its products, in the industry, both from traditional and new players. This is reflected in the fact that there is a growing number of high-profile projects, both in production and in test stages, that have shown benefits that can contribute to the market in terms of efficiency and transparency.

Given this scenario, the ISSA (International Securities Services Association) workgroup on DLT, where Depósito Central de Valores (DCV) is a member with other relevant actors of the industry such as SIX Securities & Exchanges, Nivaura Ltd, Brown Brothers Harriman, TATA Consultancy Services Limited, Fnality International, UBS, Citibank, Accenture, DTCC, Clearstream, Global Blockchain Business Council and R3, has released an updated version of the document "Crypto-Assets: Moving from Theory to Practice" initially published in November 2019.

This revised version analyzes the issuance, settlement, custody, and other services for crypto assets to maximize the interoperability between the market's participants through recommendations and best practices based on applying standards and complying with laws and regulations. 

DCV, aside from sharing its experience in the PoC (Proof of Concept) conducted together with Banco Central de Chile (BCCH), collected updated information on some of the topics and participated in discussions in the work meetings providing information that contributed to the outcomes obtained.

Within the findings of the process, it was concluded that there are actions that must be taken, such as supporting the education on different elements of DLT, its uses, benefits, and risks; promoting the development of open interoperability standards within the crypto-assets market and support the regulators that are trying to create the proper regulatory environment for this new market.

 For more information and to check this document, go to the following link
(https://issanet.org/working-groups/distributed-ledger-tec/ ),
will be directed to the corresponding section of the ISSA website.

 

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