Regulators need more power to block foreign crypto sites - World Organisation for Securities Standards

The World Organisation for Securities Standards (IOSCO) has become worried about the incredible amount of misleading financial advice on websites.

IOSCO issued a statement Wednesday that says securities regulators have the right to require the removal of foreign crypto-related sites. No, well, there's no question. Everyone can demand it. The only question is whether the demands will be enforced.

The regulator's proposals are the latest in a series of crackdowns on cryptocurrencies based on concerns about money laundering, tax evasion, financial stability, and the rise of financial advice from new sources such as social media influencers.

It's particularly amusing how various Twitter scammers on social media have been presented as "financial advisors provided by new sources such as social media influencers."

"Digital fraudsters can hide behind a 'digital veil,' making it difficult for regulators to find, identify and take action against them," said IOSCO Secretary General Martin Moloney.

Suppose we don't bother with a bunch of unnecessary information from the manual. In that case, the body as a whole suggests creating "comprehensive" international crypto rules. 

For example, the SEC would ask a foreign body to shut down or block access to illegal websites or social media pages, stop trading, or collect fines imposed on a foreign crypto site. Big Brother wants to spy on you :D.