Governments worldwide increase effort to regulate cryptocurrency markets. Regulators fear the potential to undermine financial stability, facilitate illicit activities and challenge sovereign currencies. US SEC focuses on classifying crypto as securities, bringing actions against unregistered offerings. CFTC asserts authority over crypto derivatives. Europe moves towards comprehensive MiCA framework, providing rules across the EU, covering issuers and service providers. Asian countries adopt diverse approaches. China bans trading and mining, while Singapore and South Korea focus on licensing and anti-money laundering. Lack of global coordination remains a challenge due to the cross-border nature making it difficult for any single country to regulate the market effectively. The Financial Stability Board works to promote cooperation and convergence of regulatory approaches. The future of regulation is uncertain, but governments are determined to bring the rapidly evolving market under control.
Cryptocurrency Regulation: Governments worldwide struggling to bring order to crypto
