The International Organization of Securities Commissions (IOSCO), which represents over 130 jurisdictions and regulates more than 95% of the world's securities markets, has issued policy recommendations for regulating decentralized finance (DeFi). The guidance covers identifying responsible individuals, setting clear disclosure requirements, and enforcing laws. IOSCO has advised governments to regulate innovative financial applications in the same way as traditional finance, as many existing policies and regulatory frameworks are applicable to DeFi activities. The regulator has emphasized that operating as a decentralized autonomous organization (DAO) does not exempt individuals and entities from their regulatory responsibilities.