Regulatory authorities around the world are striving to establish laws that regulate the cryptocurrency market with the aim of protecting investors, combating money laundering, and enhancing transparency.

These legislations vary from one country to another; while countries like the UAE and Singapore adopt an open approach and establish legal frameworks that encourage innovation, other countries impose strict restrictions or complete bans. Effective regulation contributes to building trust and expanding the adoption of technology, while legal ambiguity slows growth and drives away investments.

Hence, the need for comprehensive international coordination to regulate this rapidly evolving sector without stifling innovation emerges.