International Swaps and Derivatives Association Releases New Definition of Digital Asset Derivatives

The International Swaps and Derivatives Association (ISDA) has released a new definition of digital asset derivatives intended for use by participants in privately negotiated transactions to record non-deliverable digital asset forwards and Individual transactions governed by the ISDA Master Agreement, setting out the rights and obligations of the parties upon default. ISDA has published papers examining netting, how collateral liquidation is performed in the event of bankruptcy, and another paper this quarter examining cryptoassets stored with intermediaries.