#CryptoRegulation [5/15, 5:11 PM] Meta AI: Cryptocurrency regulations are evolving globally, with governments and organizations working to balance innovation with consumer protection and financial stability. Here's a breakdown of key developments:
Global Regulatory Framework
- The Financial Stability Board (FSB) has proposed a global regulatory framework for crypto-asset activities, emphasizing "same activity, same risk, same regulation".
- The International Organization of Securities Commissions (IOSCO) has laid out 18 recommendations for global rules on managing crypto and digital assets.¹ ²
Regional Regulations
- *European Union (EU)*: Implemented the Markets in Crypto-Assets Regulation (MiCA
[5/15, 5:11 PM] Meta AI: Cryptocurrency regulations are evolving globally, with governments and organizations working to balance innovation with consumer protection and financial stability. Here's a breakdown of key developments:
Global Regulatory Framework
- The Financial Stability Board (FSB) has proposed a global regulatory framework for crypto-asset activities, emphasizing "same activity, same risk, same regulation".
- The International Organization of Securities Commissions (IOSCO) has laid out 18 recommendations for global rules on managing crypto and digital assets.¹ ²
Regional Regulations
- *European Union (EU)*: Implemented the Markets in Crypto-Assets Regulation (MiCA) in May 2023, requiring companies to obtain licenses and adhere to strict rules.
- *United States*: Proposed bills, such as the Financial Innovation and Technology (FIT) for the 21st Century Act, aim to define when a cryptocurrency is a security or commodity, but progress has stalled.
- *Asia*:
- *Japan*: Recognizes cryptocurrency as legal property, with regulations in place for crypto exchanges and transactions.
- *South Korea*: Passed the Virtual Asset Users Protection Act, strengthening user protections and transparency.
- *China*: Strictly bans cryptocurrency trading, exchanges, and mining.