$BTC 🎯 Recap of the shared content from Binance

Thank you to the permanent reporter Nguyen Bao Yen 😁

UAE – CRYPTO MARKET DEVELOPMENT MODEL

The UAE stands out with a clear legal framework, divided into various regulatory zones such as DFSA, DIFC, ADGM, facilitating business operations. The establishment of VARA in 2022 has helped Dubai become a global crypto hub, attracting over 1 billion USD in investments in 2023 and significantly increasing the number of digital professionals.

GLOBAL LEGAL TRANSFORMATION

From an initially free environment, crypto exchanges have gradually faced stricter regulations with AML/KYC and Travel Rule requirements. The fragmentation of policies between countries remains a significant challenge, but the general trend is moving towards standardization to protect users and promote sustainable development.

POLICY PROGRESSION THROUGH STAGES

The period from 2017 to 2019 was a chaotic time for ICOs, leading to many scams. From 2020 to 2022, the involvement of major institutions prompted governments to begin developing policies. From 2023, frameworks like MiCA (EU) and VARA (Dubai) demonstrate a global effort to regulate the crypto industry towards a more stable and transparent direction.