With Libra and bitcoin constantly getting in the headlines, it’s easy to see why the cryptocurrency market may require some harmonisation of standards.
That is exactly what the Association of National Numbering Agencies (ANNA), a global member association seeking to foster standardisation within the financial industry, is aiming to do with its new technology taskforce on digital assets.
This initiative was launched with the aim to help examine how international securities identification numbers (ISIN) may be able to help bring about possible harmonisation of standards.
The taskforce, named TF-22, will look look into how ISINs can be used to harmonise standards of digital assets like tokens and cryptocurrencies, blockchain technology and its associated evolution and application in the financial markets industry.
Uwe Meyer, executive director and secretariat of ANNA, said, “With digital assets emerging as a new investment class, the availability of quality, standardised reference data will serve as the foundation for a trusted token market. As the registration authority for the ISIN, ANNA has been responsible for evolving the ISIN standard through its work to benefit the industry at large.
“As a result, ISINs are issued today in more than 200 jurisdictions worldwide, enabling efficient global cross-border trading and improved transparency. We hope that this TaskForce will ensure that we continue to utilise the ISIN standard wherever we can be sure it will be of most use to the industry. This evaluation process on digital assets is an important part of that journey.”
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