Cryptocurrency regulations are changing across the globe.

The International Organization of Securities Commissions has laid out its 18 recommendations for global rules on managing crypto and digital assets.

It sees a need for greater consistency on the regulation and oversight of crypto assets activities given the cross-border nature of the markets, which creates “significant risk of harm” for investors.

“A global approach is needed to maximize the advantages from the underlying technology and to manage the risks,” the paper says. “However, given the different stages of market maturity, the development of regional hubs and the varying capacity of regulators, it is prudent to holistically focus also on the important role that international organizations and national/regional regulators as well as industry actors can play in ensuring responsible regulatory evolution.”

This is a crucial step towards harmonizing global regulations, ensuring investor protection and fostering responsible growth in the crypto industry.