US Mirror to ISO TC68/SC7/TG1 – Project Status
The ISO 20022 RMG Convenor and Vice-Convenor discussed how card specific requirements may be catered for within the current ISO 20022 standard and its Registration Procedures. This should include the rapid maintenance of codes lists, the use of private and national fields, ongoing maintenance between ISO 8583 and ISO 20022, as well as other key issues as appropriate. TG1 are to provide a paper on the outcome to SC7 within six months.
ISO/TC 68/ SC 7 approved the four recommendations of SG1 on Digital Currencies (documented in the report N668) and the disbandment of SG1 was approved.
ISO/TC 68/ SC 7 requested WG12 and the ISO 4217 Maintenance Agency to update the ISO 4217 Maintenance Procedures to reflect the ability to assign ISO 4217 currency codes to ‘fiat digital currencies’, as recommended by SG1.
ISO/TC 68/ SC 7 resolved to create a Working Group to develop the requirements of the second tier registry for digital currency codes as per the SG1 report. The SC7 Secretary will issue a call for Convenor and Experts.
ISO/TC 68/ SC 7 resolved to ensure effective liaison between the new Working Group on Digital Currency Codes and SC2.
ISO TC68/SC 7 resolved for the SC 7 Secretary to issue a minor revision to ISO 13616-1 to clarify how to implement ISO 7064 check digit, to ensure proper validation of the IBAN (as per NL report).