Global Regulations: A Worldly Perspective on the Landscape of Web3 & Digital Assets | Futurist 2024

Crypto regulation globally is moving toward more structured frameworks, with the EU’s MICA legislation providing comprehensive guidance compared to the US’s enforcement-first approach

Many crypto companies are relocating from Western jurisdictions due to regulatory pressure, particularly from the US SEC, seeking more crypto-friendly environments

The crypto community is increasingly fighting back against aggressive regulation through litigation, with notable cases like Ripple, Grayscale, and ConsenSys challenging SEC actions

DeFi regulation appears to be the next major focus area for regulators globally, particularly around crypto asset service providers and stablecoin issuers

Countries are competing to become the next crypto hub, with jurisdictions like the UAE and EU creating comprehensive frameworks to attract crypto businesses

Regulatory compliance costs are significant, forcing smaller projects to carefully choose jurisdictions and potentially exit certain markets

Basic tax and regulatory compliance remains crucial regardless of jurisdiction, with experts recommending early consultation with local advisors

The technology’s fundamental nature as open-source software and its connection to property rights make it resilient against complete regulatory shutdown

Election outcomes, particularly in the US, could significantly impact the regulatory landscape for crypto in coming years

There’s a trend toward more jurisdictional fragmentation in crypto markets, with operations becoming more localized due to regulatory pressures