The International Organization of Securities Commissions (IOSCO) has released the first global approach to regulating cryptoasset and digital markets, following the collapse of the FTX exchange last year.

The proposed standards cover dealing with conflicts of interest, market manipulation, cross-border regulatory cooperation, custody of cryptoassets, operational risks, and treatment of retail customers. The watchdog aims to finalise the standards by the end of the year and expects its 130 members worldwide to use them to plug gaps in their rulebooks promptly.

This move follows the European Union's finalisation of the world's first set of comprehensive rules, putting pressure on other countries to come up with their own norms.