Digital asset regulation is taking shape globally, with 42 countries engaging in discussions or passing laws in 2023, a report by PricewaterhouseCoopers (PwC) has revealed.
The Global Crypto Regulation Report 2023 delved into the trends that defined digital asset regulations globally, the countries taking the lead in policing the sector, what to expect in 2024, and more.
PwC divided the regulatory efforts into four key focus areas: anti-money laundering and combating the financing of terrorism; stablecoin regulations, the FATF travel rule; and overall framework development.
Of the 42, only a handful implemented new laws in all four areas. They included Japan, a global leader in digital asset regulations, and island nations such as Mauritius, the Bahamas, and the Cayman Islands. Only Gibraltar and Switzerland put new legislation in place across all four areas in Europe.
Some other countries came close, such as the United Arab Emirates, which has new laws for all areas except …