Regulatory Overhaul Sweeps Global Crypto Markets
The crypto industry has been navigating a regulatory gray zone for much of the past decade. However, that is changing rapidly as governments across major markets are replacing fragmented or limited crypto rules with formal licensing, custody, capital, disclosure, and supervisory requirements.
In Europe, the European Union's Markets in Crypto-Assets Regulation (MiCA) has been implemented since December 30, 2024. By July 1, 2026, only 244 crypto-asset service providers had secured MiCA authorization, while more than 1,700 unlicensed platforms were required to stop serving EU customers.
The US is taking a different approach, starting with the GENIUS Act, which established a federal regulatory framework specifically for payment stablecoins. The Office of the Comptroller of the Currency (OCC) has issued proposed implementing rules covering reserve assets, redemption, risk management, reporting, supervision, custody, and capital requirements.
Australia's Corporations Amendment (Digital Assets Framework) Act 2026 creates a formal framework for digital asset platforms and tokenized custody platforms within Australia's existing financial-services system. The new regime is scheduled to commence on April 9, 2027, with a six-month transition period for existing providers.