With the passage of the GENIUS Act in the U.S., international regulators are taking steps to align with American initiatives and ensure unified standards for crypto assets.
Dynamics of Regulatory Changes
This week, the UK's FCA, the Bank of England, and regulators from the Middle East introduced new proposals and concrete deadlines. In the UK, the FCA has stated that by 2026 it plans to bring key crypto activities—trading, custody, and stablecoin issuance—into the regulated perimeter.
Divergences in Regulatory Approaches
Despite the common momentum towards global standards, there is significant divergence in regulatory approaches. For instance, the EU requires 100% reserve backing for stablecoins, while Germany and France are enforcing even stricter requirements. The UK is developing bespoke rules for staking and investing in cryptocurrencies.
New Reality for Crypto Exchanges
Modern crypto exchanges face the necessity of rapidly adapting to new regulatory requirements or risk becoming irrelevant. Industry leaders are investing in compliance technologies, hiring legal advisors, and establishing units for navigating international regulations.
The new wave of regulatory changes in the crypto industry promises significant challenges and opportunities for market players, requiring flexibility and adaptability to various regulatory conditions.
