Joint committee meeting of CPMI-IOSCO co-chaired by the Bank of France (Denis Beau, Deputy Governor) and US Commodity Futures Trading Commission (Mel Gunewardena, Director, Senior Market Advisor to Chairman) was held with the attendance of participants from international central banks and capital market authorities, along with representatives of World Bank and International Monetary Fund as observers.

The meeting addressed the opportunities and risks that emerging technologies, in particular blockchain and artificial intelligence, present for the financial system. The impacts of 24/7 continuous markets, onchain platforms, and artificial intelligence (AI) technologies on the financial system were highlighted. The discussions focused on the liquidity and cybersecurity challenges brought about by the transition to continuous trading and real-time settlement in payment operations, the necessity of subjecting decentralized onchain structures to risk-based oversight due to their assumption of critical market infrastructure functions such as clearing and settlement, and the potential of artificial intelligence to amplify market vulnerabilities. Consequently, the need to reinterpretation of the existing Principles for Financial Market Infrastructures (PFMI) within the framework of risk management, liquidity, and resilience criteria for this new ecosystem was evaluated, and strategic topics requiring close monitoring were identified.