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CZ: Establishing a Global Crypto Regulatory Agency Currently Not Feasible
Summary: During the Davos World Economic Forum, CZ stated that while the banking, securities, and regulatory sectors are highly developed and mature, the crypto industry is different. Currently, each country has vastly different regulations on crypto. For example, Binance has licenses in around 22-23 countries globally, but most countries do not have a licensing system. The ...
During the Davos World Economic Forum, CZ stated that while the banking, securities, and regulatory sectors are highly developed and mature, the crypto industry is different. Currently, each country has vastly different regulations on crypto. For example, Binance has licenses in around 22-23 countries globally, but most countries do not have a licensing system. The U.S. is progressing quickly in this area, but it is still ongoing. Countries like the UAE, Bahrain, and Pakistan have adopted relatively forward-looking regulatory systems and are willing to engage with industry participants. However, there are differences in policies among countries, especially in terms of capital controls and tax systems. Therefore, establishing a global regulatory agency for the crypto industry is currently not feasible, as each country has different considerations.
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Link: CZ: Establishing a Global Crypto Regulatory Agency Currently Not Feasible [Copy]
