Effective crypto regulations proved to be a successful approach to increasing adoption in 2022. Here's a look at how the crypto regulatory landscape has evolved.
The United Kingdom sought regulatory amendments to place the crypto industry under tighter scrutiny. Reacting to the FTX collapse, the U.K.’s HM Treasury issued guidelines for the Financial Conduct Authority to monitor the operations and advertising of crypto companies in the country.
This further influenced an upcoming 2023 legislation toSouth Africa's financial regulator, the Financial Sector Conduct Authority, updated the country’s 2002 Financial Advisory and Financial Intermediary Services Act toToday the Financial Sector Conduct Authority declared a crypto asset as a financial product under the FAIS Act.— Farzam Ehsani
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