Global Crypto Policy Review & Outlook 2023/24
2023 began with fear, uncertainty and doubt. However, the following 12 months saw an extraordinary boom in regulation across the globe and clarity and consistency began to emerge as the common themes. We observed a convergence toward certain standards that have already impacted illicit finance activities.
In a year of significant policy action, this report summarizes the key developments and previews what lies ahead in 2024.
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TRM Labs reviewed 2023 crypto policy developments in
21 jurisdictions representing approximately 70% of global crypto exposure.
In 2023, 80% of these jurisdictions have moved to tighten crypto regulation, and almost half have specifically progressed consumer protection measures.
TRM Labs' analysis found that virtual asset service providers (VASPs) in countries with full licensing and supervision regimes have lower rates of illicit activity than those in less regulated jurisdictions.