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

 

ANNA and DTI Foundation align ISIN and DTI standards for digital tokens

 

The Association of National Numbering Agencies (ANNA), ISO Registration Authority for ISO 6166 International Securities Identification Numbers (ISINs), and the DTIF, ISO Registration Authority for ISO 24165, have announce the next phase of their Task Force with a joint Memorandum of Understanding (MOU). The MOU will allow the phased introduction of new ISINs to identify crypto assets to further optimize and automate more comprehensive data sets within both ISO standard registries.

 

The two complementary, interoperable identifiers, with different functions but intrinsically linked, will work together to bring more transparency to the market. Where the ISIN identifies the asset, which has historically always been the case and will continue to be, the DTI uniquely identifies the implementation of the token on a DLT.

See the full article here.

 

Q&A with Denis Dounaev, Product Owner at the DTIF

 

As part of ANNA’s work on Digital Assets, ANNA has recently interviewed Denis Dounaev, Product Owner at the DTIF.

 

Read the full interview here.

 

DTI Foundation resources

 

November DTI statistics

 

The total number of DTIs assigned is 1,804, a 2.5% increase from the previous month. Breakdown of DTIs:

 

  • 1,593 Auxiliary digital tokens
  • 132 Native digital tokens & ledgers
  • 79 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 ICMA’s FinTech Forum. Join DTI Foundation’s Rowan Varrall and ANNA’s Stephan Dreyer discuss Asset and Token Identification across Digital Asset Ecosystems. Don’t miss this opportunity to expand your knowledge and network with industry leaders. See further details in the link below.

 

ICMA FinTech and Digitalisation Forum, 5 December 2023, London

 

Relevant news and publications

 

28 November 2023: FSB published its report on the financial stability implications of multifunction crypto-asset intermediaries (MCIs).

 

24 November 2023: UK’s Technology Working Group, working closely with the Financial Conduct Authority and HM Treasury, published its report on implementing fund tokenisation in the UK.

 

23 November 2023: EBA published its consultation on new guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes. These ‘travel rule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets.

 

23 November 2023: BaFin published its information sheet (in German) on crypto registry management.

 

23 November 2023: MAS published final responses to its consultation on proposed regulatory measures for digital payment token services.

 

22 November 2023: UK Government published a response to its consultation on the Digital Securities Sandbox.

 

20 November 2023: US SEC has filed a complaint against Kraken as operating as a crypto exchange without registering with the SEC in any capacity.

 

20 November 2023: In parallel with the Basel Committee on Banking Supervision’s consultation on disclosure of crypto-asset exposures, Canada’s Office of the Superintendent of Financial Institutions (OSFI) launched its consultation on the same topic for feedback within the Canadian context.

 

16 November 2023: IOSCO published its final report on Policy Recommendations for Crypto and Digital Asset Markets.

 

15 November 2023: Over 40 countries are involved in a collective engagement to implement the Crypto-Asset Reporting Framework, the new international standard on automatic exchange of information between tax authorities developed by the OECD.

 

15 November 2023: MAS announced that it is working with the financial industry to expand asset tokenisation initiatives and develop foundational capabilities to scale tokenised markets under Project Guardian. 

 

15 November 2023: New York State’s Department of Financial Services published an industry letter on guidance regarding listing of virtual currencies.

 

9 November 2023: Australian Tax Office published its guidance on capital gains tax (CGT) treatment of decentralised finance and wrapping crypto tokens.

 

8 November 2023: BIS published its paper Will the real stablecoin please stand up, which provides an overview of the evolution of the stablecoin market over the past decade and examines whether stablecoins have stayed true to their name in terms of being “stable”.

 

8 November 2023: EBA published several consultation papers relating to Regulatory Technical Standards, Implementing Technical Standards, and Guidelines for asset-referenced tokens and e-money tokens under MiCA. comments are due by 8 February 2024.

 

8 November 2023: ECB published its working paper on global and local drivers of Bitcoin trading vis-à-vis fiat currencies, analysing the drivers of Bitcoin transactions against 44 fiat currencies in the largest peer-to-peer crypto exchanges.

 

6 November 2023: FCA and the Bank of England published discussion papers on stablecoin regulation. The FCA discussion paper on Regulating cryptoassets Phase 1: Stablecoins (DP23/4) aims to help develop a regime for fiat-backed stablecoins including when used as a means of payment. The Bank of England discussion paper sets out a proposed regulatory framework for systemic payment systems using stablecoins and related service providers. These accompany a Dear CEO letter from the PRA on innovative uses of deposits, e-money and stablecoins. FCA, Bank of England, and PRA also published a joint roadmap paper explaining how UK authorities’ current and proposed regulatory regimes will interact and intended to be read in conjunction with discussion papers and Dear CEO letter.

 

3 November 2023: AMF published a declaration of change of situation form for Digital Asset Services Providers (PSANs)

 

2 November 2023: FCA published its finalised non-handbook guidance on Cryptoasset Financial Promotions (FG23/3) to further support crypto firms complying with the new marketing rules.

 

2 November 2023: Hong Hong SFC published two circulars on tokenisation of SFC-authorised investment products and on intermediaries engaging in tokenised securities-related activities.

 

2 November 2023: SNB announced the launch of the Helvetica phase III pilot project which will test central bank digital currency for activities carried out by financial institutions such as bond tokenisation and repo trading and settlement.

 

2 November 2023: Abu Dhabi Global Market (ADGM) released the Distributed Ledger Technology Foundations Regulations 2023, enacted by the Board of Directors of the ADGM on 2 October 2023. The Regulations make provision for the establishment and registration of foundations that facilitate distributed ledger technology and token issuance in the Abu Dhabi Global Market.

 

31 October 2023: BIS’ Committee on Payments and Market Infrastructures published its report on Considerations for the use of stablecoin arrangements in cross-border payments.

 

31 October 2023: FCA, FINMA, and Japan’s FSA announced their partnership with MAS to foster digital asset innovation with Project Guardian.

 

30 October 2023: HM Treasury published the response to its consultation and call for evidence on the future of financial services regulatory regime for cryptoassets.

 

30 October 2023: HM Treasury published the response to its consultation paper on managing the failure of systemic digital settlement asset (including stablecoin) firms

 

30 October 2023: HM Treasury published its update on plans for the regulation of fiat-backed stablecoins.

 

26 October 2023: Spain’s Ministry of Economy and Digita Transformation announced its decision to shorten the MiCA transitional period from 18 to 12 months.

 

26 October 2023: FCA published new information including expectations of cryptoasset businesses for AML/CTF regime registration.

 

26 October 2023: UK Parliament’s Economic Crime and Corporate Transparency Bill has received Royal Ascent. The Act seeks to strengthen the UK’s response to economic crime, including additional powers to confiscate crypto-assets.

 

About the DTIF

 

The Digital Token Identifier Foundation (DTIF) 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 DTIF’s mission is to provide the golden source reference data for the unique identification of digital tokens. As its mandate, the DTIF 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. 

 

 

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© Digital Token Identifier Foundation (DTIF) 2023. 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, DTIF does not represent or warrant that it is accurate or complete and neither DTIF nor its employees shall have any liability arising from or relating to the use of this publication or its contents.