ISDA issues its definitions relating to crypto
Publication:
BIScom Subsection:
Friday, 27 January, 2023 - 05:15
As an global association of more than 1,000 participants in markets, the The International Swaps and Derivatives Association is influential and when it issues material it carries weight outside its own area of concern. So when it has published The ISDA Digital Asset Derivatives Definitions. It makes sense to pay attention, even if you aren't in swaps or derivatives.
The ISDA Digital Asset Derivatives Definitions are intended to bring greater clarity to this nascent asset class by creating an unambiguous contractual framework for digital asset derivatives under the umbrella of the ISDA Master Agreement, reducing credit and market risk by setting clear provisions for execution and settlement.
“Recent failures in the crypto market have emphasized the importance of having a clear, consistent contractual framework that spells out the rights and obligations of both parties following a default. All customers, whether retail or institutional, should know their assets are protected and understand their rights in the event of a default. This latest work to establish legal definitions and recommend improved customer protection in bankruptcy through the application of a consistent set of global contractual standards adds to the extensive work ISDA has already published to bring greater legal and operational certainty to digital assets executed on both centralized and decentralized platforms,” said Scott O’Malia, ISDA’s Chief Executive.
The Definitions are here: https://www.isda.org/book/isda...
The White Paper is here: https://www.isda.org/2023/01/2...
---------------- Advertising ----------------
--------------------------------------