#CryptoRegulation Cryptocurrency regulations vary globally, with some countries embracing digital currencies while others impose strict rules. Here's a breakdown of key regulatory developments:

*Global Regulatory Framework*

The Financial Stability Board (FSB) has introduced a global regulatory framework for crypto-asset activities, emphasizing "same activity, same risk, same regulation." This framework includes two sets of recommendations¹:

- *High-level recommendations* for regulating crypto-asset activities and markets

- *Revised high-level recommendations* for regulating global stablecoin arrangements

*Regional Regulations*

*United States*

The US has a multi-agency approach to crypto regulation, with:

- *SEC* governing crypto-related securities

- *IRS* regulating crypto taxation (viewing cryptocurrencies as property)

- *FinCEN* enforcing anti-money laundering and terrorist financing regulations

- *CFTC* regulating crypto-related commodity markets

*European Union*

The EU has introduced the Markets in Crypto-Assets Regulation (MiCA), which:

- Requires crypto service providers to obtain licenses

- Mandates transparency and disclosure for crypto-asset issuers

- Sets rules for anti-money laundering and know-your-customer (KYC)

*Asia*

- *Japan*: Recognizes crypto assets as a payment currency, with strict regulations on exchanges and taxes

- *China*: Has banned crypto trading, mining, and ICOs, with strict enforcement

- *India*: Taxes crypto gains at 30%, with a 1% withholding tax on disposals

- *South Korea*: Progressing with regulation for crypto and other virtual assets, with stronger protections for users

*Other Countries*

- *Brazil*: Introduced cryptocurrency regulation in June 2023, with a central bank supervisor for crypto assets

- *UK*: Mandates authorization for digital currency companies, with proposed regulations for stablecoins

- *Canada*: Treats crypto assets as commodities, with capital gains taxes and anti-money laundering regulations

- *Australia*: Views cryptocurrencies as legal property, with taxes and anti-money laundering regulations