🌍 Overview
Greater regulatory clarity: 2025 marked a turning point, with a strong push towards the institutionalization of cryptocurrencies.
International convergence: 93% of member countries of the Financial Stability Board (FSB) already have regulatory frameworks in development or in force for crypto assets, and 88% for stablecoins.
Common goal: balance innovation and consumer protection, as well as mitigate risks of money laundering and volatility.
🇺🇸 United States
Moves away from the 'regulation by application' policy and seeks clearer rules.
Debate on how to classify crypto assets: securities, commodities, or a new category?
🇪🇺 European Union
Implementation of MiCAR (Markets in Crypto-Assets Regulation), the first comprehensive framework for crypto assets.
Establishes transparency requirements, consumer protection, and licenses for service providers.
Asia and other regions
Singapore and Japan: promote innovation with clear and friendly regulatory frameworks.
China: maintains strict restrictions, although it promotes its own digital currency (e-CNY).
Latin America: countries like Brazil and Argentina are making progress on partial regulations, while others still lack solid frameworks.
⚖️ Advantages and challenges
Advantages
Greater confidence for institutional investors.
Consumer protection and reduction of fraud.
Boost to the mass adoption of crypto assets.
Challenges
Differences between jurisdictions that create fragmentation.
Risk of over-regulation that limits innovation.
Constant adaptation to rapid technological evolution.
🎯 Conclusion
The world is moving towards a more mature and homogeneous regulation of cryptocurrencies. The key will be to find the balance between fostering innovation and protecting users, avoiding both a lack of control and excessive regulatory rigidity.