How Different Governments View Crypto Differently.

How Different Governments View Crypto Differently.

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It is obvious that crypto is being treated differently in different countries. Most of the places follow American regulatory policies even though those policies are yet to be finished

With that being said, the Executive Order that will make sure that crypto is well regulated and becomes more mature as an asset was signed by Biden earlier in March this year.

The order is aimed for looking into the risks and issues in both the current financial system and the crypto industry and how it is trying to address those issues as well as studying Web3. The regulations main targets will be subjects like security, privacy, crypto adoption, USD superiority. Besides the Executive Order, the Responsible Financial Innovation Act main purpose of which is to make sure that all the financial innovations do not affect the regular people's pockets was introduced recently. This one also touches on how the crypto industry affects the environment.
It's not just the US who is trying to regulate crypto. The Middle East and Asia are also making their moves. Crypto and NFTs saw the first regulatory acts in Dubai this year. India on the other hand keeps approaching crypto and other digital assets with fear and calls it a scam. With that being said it placed second on the crypto adoption index list so it is likely that their politicians will be changing their minds.
Let's take a look at Switzerland. By 2019 they have already had 2 crypto banks up and running. They keep issuing more crypto laws to facilitate the industry. The EU itself is also trying to assist the situation by planning to create a framework that would cover all the digital assets regulations in Europe. The European Parliament is working on the new regulation that will soon be passed on to all the participating countries for review. The regulation is about introducing a European passport that will allow foreign crypto related enterprises to get licenced and legally facilitate their businesses all across the EU.

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