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Greater than half of the most important jurisdictions for the crypto markets tightened rules in 2023, in response to TRM Labs, together with Hong Kong and Singapore.
Out of 21 jurisdictions representing roughly 70 % of world crypto publicity, 17 tightened rules in 2023, in response to a report by blockchain analytics agency TRM Labs.
This contains Hong Kong’s newly launched digital asset licensing regime in addition to Singapore’s finalized stablecoin framework and client safety guidelines. Different markets like South Korea, the EU and the US additionally tightened rules. Practically half of the jurisdictions that tightened crypto guidelines in 2023 upped client safety measures.
«2023 was a 12 months to be remembered in crypto coverage. It started with FUD (worry, uncertainty and doubt) within the wake of the collapse of FTX. Nonetheless, the next 12 months noticed a rare increase in regulation throughout the globe,» the report stated.
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