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The ISO20022 Compliant Token narrative is fake

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by COINS NEWS 51 Views

The ISO20022 Compliant Token narrative is fake

There’s a lot of misinformation circulating on platforms like Twitter (and reddit) leading many in the crypto space to believe there’s an "ISO 20022 global authority" designating crypto tokens as either "compliant" or "non-compliant." You've probably seen all the fancy diagrams of shit coins with arrows everywhere. There's so much incorrect information that ISO included a section in their FAQs regarding ISO 20022 cryptocurrencies, to address widespread confusion and misinformation.

Cryptocurrencies are not inherently ISO 20022 compliant. The cryptocurrencies are not managed and not registered by ISO 20022. ISO 20022 is a global standard for financial messaging and provides a common language and structure for exchanging financial information.

They make it very clear that yes, the company itself can be "ISO20022 compliant" but at the protocol level, the blockchain and the token itself are not inherently ISO20022 compliant. This means any company can adhere to the ISO20022 standard, if they chose to.

But I was told XRP, ADA, QNT, ALGO, XLM, MIOTA AND XDC were all ISO compliant?

The company could be, but their product definitely isn't and there's no list to prove they are. The famous 8 ISO compliant tokens were simply cherry picked from an extensive list of tokens provided by the DTI (Digital Token Identifiers - ISO24165). I have provided the list below in the comments.

But I still choose to believe!

That's fine, live in your fairy-tale land of delusion but your token isn't unique and its not necessarily better positioned for mainstream use in the evolving global financial infrastructure. Also, your token is definitely not been pumping due to ISO compliancy. You're being deliberately misled because this industry is highly adept at manipulating and exploiting unsuspecting consumers. Fake crypto narratives thrive due to user ignorance, hype/greed, and lack of clear regulations.

Womp Womp.

https://preview.redd.it/if9yfr8jlv5e1.png?861&format=png&auto=webp&s=a3182151777447217acc74b075e58a7d51c22ef5

submitted by /u/JustStopppingBye
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