'Complete pipe dream' to achieve globally cohesive digital assets regulation

All jurisdictions will take their own approach

The advent of digital assets, and within that crypto, is the next big challenge for regulators who have all preached a unified global framework, but members of the industry are sceptical that this complex asset class will be the one to overcome regulatory fragmentation.

Last week (2 May), the UK took its biggest step to bringing oversight to the cryptoasset space with the unveiling of its draft regulatory regime. Reeves unveils 'comprehensive' draft regulatory regime for cryptoassets This was quickly followed up by a call out from the UK's financial watchdog for input on the future rules for specific cryptoasset activities ahead of the government's formalised rules. Representatives from the government, Bank of England and various regulators both discussed the UK and global agenda for overseeing the 'mainstreamificaiton' of digital and crypto asset...