The recent period has seen a rise in global regulatory efforts for crypto, with a particular focus on stablecoins to integrate digital assets within traditional financial frameworks.
We start with news from the 🇺🇸 United States, significant moves towards regulating stablecoins to enhance the dominance of the dollar. Strong political opposition to issuing a central bank digital currency (CBDC). | Support for private stablecoins. |
🇬🇧 United Kingdom | Plans to implement a regulatory framework for stablecoins (ICM) in late 2026, aiming to align with international standards and attract major companies. | Regulation of stablecoins. |
🇹🇷 Turkey | A new regulatory framework will come into effect in March 2025 for regulating crypto exchanges and custodial services, with strict compliance requirements. And formalization of platforms. |
🇦🇪 Gulf States | Bahrain regulates stablecoin issuers. The UAE and Qatar (in their free financial zones) are classified as leading centers in digital asset regulation.
🇸🇻 El Salvador | Continues to recognize Bitcoin as legal tender and mandatory for companies that can technically handle it. | Ongoing full reliance on Bitcoin. |
🇨🇳 China | Continues to ban trading and mining in the mainland, but courts acknowledge that cryptocurrencies have "property characteristics" in dispute cases.
🇯🇵 Japan | Moving towards easing regulatory burdens, considering allowing banks to invest in crypto, and working on stablecoin projects with the Japanese yen. | Openness and encouragement of institutional investment.
🇰🇬 Central Asia | Kyrgyzstan launches its first national stablecoin (in partnership with Binance), backed by a reserve of digital assets. | Shift towards sovereign digital currencies. |
General trend: Governments are moving towards more precise regulation of cryptocurrencies, with a global focus on stablecoins to integrate them into the official financial system, showing clear variations in Asia between tightening in China and openness and adoption in Japan and Central Asia.
