Table of Contents

 

Welcome to the DTI Foundation’s latest Update. Our aim is to share news on DTIF initiatives, statistics, regulatory updates and recent publications impacting digital asset markets.  

 

DTI Foundation initiatives

 

Global regulators to monitor crypto derivative trading

 

The DTI Foundation announced a major expansion of the scope of DTI’s to now support the regulatory reporting of crypto asset derivative trades across the G20. The DTI has been introduced as an underlier to two derivative identifiers; the Unique Product Identifier (UPI) and the International Securities Identification Number for OTC derivatives (OTC ISIN).

 

As of 29 April 2024, crypto-derivatives which fall under the EU’s European Market Infrastructure Regulation (EMIR) need to use a DTI as an underlier to the UPIs and OTC ISINs reported to a trade repository. The use of DTI enables EU regulators to extend the monitoring of derivative risk to digital assets. This marks a significant milestone in the regulation of digital assets, as up to this point derivatives reporting has focused solely on traditional financial instruments.

 

See the full article here.

 

Joint Bank of England and FCA consultation on Digital Securities Sandbox implementation

 

The DTI Foundation and its Product Advisory Committee responded to the Bank of England and Financial Conduct Authority (FCA) joint consultation on the Digital Securities Sandbox (DSS). See the full response here.

 

 

UK Government consultation on implementing OECD Cryptoasset Reporting Framework

 

The DTI Foundation and its Product Advisory Committee responded to the UK Government’s consultation on implementing the OECD’s Cryptoasset Reporting Framework and Amendments to the Common Reporting Standard package. See the full response here.

 

 

Joint HKMA and SFC consultation on enhancements to the OTC derivatives reporting regime

 

The DTI Foundation and its Product Advisory Committee responded to the joint Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) consultation on proposals to keep up with international developments and ensure Hong Kong’s OTC derivatives reporting regime stays relevant and appropriate as the markets evolve. See the full response here.

 

 

HKMA consultation on cryptoasset exposures

 

The DTI Foundation and its Product Advisory Committee responded to the Hong Kong Monetary Authority’s (HKMA) consultation paper ‘Cryptoasset Exposures’ setting out its proposal for implementing new regulations on the prudential treatment of cryptoasset exposures. See the full response here.

 

ESMA consultation on guidelines for crypto-assets as financial instruments

 

The DTI Foundation and its Product Advisory Committee responded to the European Securities and Markets Authority (ESMA) consultation paper to introduce guidelines to provide more clarity to National Competent Authorities (NCAs) and market participants about the delineation between the respective scopes of application of MiCA and MiFID. See the full response here.

 

ANNA and DTI Foundation win ‘Most Innovative Data Standards Initiative’ at the 2024 A-Team Innovation Awards

 

We are delighted to announce that the ANNA and Digital Token Identifier Foundation partnership has won the  ‘Most Innovative Data Standards Initiative’ at the 2024 A-Team Innovation Awards. See the full article here.

 

DTI Foundation resources

 

May DTI statistics

 

The total number of DTIs assigned is 2,443, a 6.7% increase from March 2024. Breakdown of DTIs:

 

  • 2,100 Auxiliary digital tokens
  • 186 Native digital tokens & ledgers
  • 157 Functionally fungible group tokens

 

Events

 

We are excited to announce that the DTI Foundation and the Association of National Numbering Agencies (ANNA) are partnering up for speaking at several crypto and digital asset events in 2024. Don’t miss these opportunities to expand your knowledge and network with industry leaders. See further details in the links below.

 

European Blockchain Convention, 25-26 September, Barcelona

 

Digital Assets Week: Singapore, 14-15 November, Singapore

 

Digital Assets Week London, 14-15 November, London

 

Relevant news and publications

 

28 May 2024: Hong Kong’s SFC published its statement on the end of non-contravention period for virtual asset trading platforms by 1 June 2024. All VATPs operating in Hong Kong must be either licensed by the SFC, or “deemed-to-be-licensed” VATP applicants under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

 

25 May 2024: G7 Finance Ministers and Central Bank Governors published a Communiqué, including its reaffirmation on support for the G20 Roadmap on Crypto Assets, among other items.

 

22 May 2024: US House of Representatives passed H.R. 4763, the “Financial Innovation and Technology for the 21st Century Act,” aiming to deliver critical consumer protections and foster innovation in the US digital asset ecosystem.

 

21 May 2024: EU Council announced the approval of conclusions on the future of EU digital policy.

 

21 May 2024: Bill No. 8387 has been submitted to Luxembourg’s Chamber of Deputies to integrate the Markets in Crypto-Assets Regulation (MiCA) into Luxembourg Law, among other items.

 

16 May 2024: BIS published a report which considers the implications of the ongoing digitalisation of finance on banks and supervision.

 

16 May 2024: European Parliament published its briefing on Digital finance legislation: Overview and state of play.

 

16 May 2024: A draft bill on crypto assets was introduced to Türkiye Parliament to establish a licensing regime by the Capital Markets Board (CMB) for crypto service providers, among other requirements.

 

16 May 2024: Korea’s Financial Intelligence Unit (KoFIU) published results from its survey on the twenty-nine registered virtual asset service providers (VASPs) to see the current state of the domestic virtual asset market and keep relevant statistics up to date.

 

14 May 2024: Eurosystem announced the completion of the first experiment in using new technologies for the settlement of wholesale transactions in central bank money.

 

13 May 2024: The Group of Central Bank Governors and Heads of Supervision of the BCBS announced the deferral for implementation of the Committee’s prudential standard for banks’ cryptoasset exposures by one year to 1 January 2026.

 

7 May 2024: EBA published three sets of final draft regulatory technical standards and one set of implementing technical standards relating to the authorisation as issuer of asset-referenced tokens (ARTs), to the information for the assessment of acquisition of qualifying holdings in issuers of ARTs and to the procedure for the approval of white papers for ARTs issued by credit institutions under the Markets in Crypto-assets Regulation (MiCAR). 

 

4 May 2024: Indonesia’s Commodity Futures Trading Supervisory Agency (Bappebti) announced the establishment of a Crypto Asset Committee to encourage the development of Indonesian crypto asset trading.

 

2 May 2024: BIS published its working paper on Why DeFi lending? Evidence from Aave V2

 

2 May 2024: ESMA SMSG published its advice on the consultation on reverse solicitation and the qualification of crypto-assets as financial instruments under MiCA

 

About the DTI Foundation

 

The Digital Token Identifier (DTI) Foundation is the Registration Authority for the International Organization for Standardization (ISO) 24165 Digital Token Identifier (DTI) standard, an ISO standard that enables the unique identification of all fungible digital assets which use distributed ledger technology for token issuance, storage, exchange, a record of ownership, or transaction validation.

 

The DTI Foundation’s mission is to provide the golden source reference data for the unique identification of digital tokens. As its mandate, the DTI Foundation issues and maintains DTIs on a non-profit basis, to increase transparency in the digital asset space by creating a core reference data set based on open data principles and made available as a public good. 

 

 

Privacy Policy   |  Contact Support   |  Unsubscribe

First Floor, 6 Dowgate Hill,
London, England, EC4R 2SU

 

© Digital Token Identifier (DTI) Foundation 2024. All rights reserved. This document is provided for information purposes only and should not be relied upon as legal, financial, or other professional advice. While the information contained herein is taken from sources believed to be reliable, DTI Foundation does not represent or warrant that it is accurate or complete and neither DTI Foundation nor its employees shall have any liability arising from or relating to the use of this publication or its contents.