Regulatory updates
The latest changes, amendments, and news across tracked regulations
Recently updated
Update log
NewsEuropean Union
14 April 2026MiCA
Grandfathering deadline approaching — July 2026
CASPs operating under national transitional regimes must obtain full MiCA authorisation by 1 July 2026 at the latest. Some member states have earlier deadlines already passed.
NewsUnited Kingdom
14 April 2026UK FSMA Crypto Regime
Authorisation gateway opens 30 September 2026
FCA confirmed application window: 30 September 2026 to 28 February 2027. Firms should begin preparing applications and familiarise themselves with SM&CR and FCA Handbook.
Japan PSA Crypto
Cabinet approved FIEA amendment — crypto to be reclassified as financial instruments
Japan's cabinet approved a landmark bill to reclassify crypto assets under the FIEA, treating them as investment products like stocks and bonds. Penalties to increase substantially if passed by the Diet. Expected to take effect FY2027.
Status changeJapan
10 April 2026Japan FIEA Crypto Bill
Japan cabinet approved landmark FIEA crypto reclassification bill
Crypto assets to be reclassified as financial instruments — the most significant shift in Japan's crypto regulatory framework since 2017. Insider trading ban, mandatory issuer disclosures, and sharply increased penalties proposed.
Status changeAustralia
1 April 2026Australia Digital Assets Framework
Australia's first comprehensive digital asset law enacted
The Corporations Amendment (Digital Assets Framework) Bill 2025 passed both houses on 1 April 2026. AFSL licensing deadline is 30 June 2026. Approximately 400 registered crypto platforms, only 10% currently ASIC-registered.
Status changeAustralia
31 March 2026Australia Digital Assets Framework
AUSTRAC AML/CTF obligations now mandatory
Existing digital currency exchange businesses must now comply with the reformed AML/CTF framework including Travel Rule.
GuidanceUnited States
17 March 2026GENIUS Act
SEC and CFTC confirmed payment stablecoins outside their jurisdiction
Joint SEC-CFTC interpretation confirmed that GENIUS Act-compliant payment stablecoins are not securities or commodities.
NewsUnited States
17 March 2026CLARITY Act
SEC and CFTC issued joint token taxonomy — pre-empts many CLARITY Act classification questions
Joint interpretation confirmed Bitcoin, Ether, Solana and XRP as digital commodities. Stated that most tokens are not securities. Formal rulemaking with full details expected within weeks.
Status changeUnited States
17 March 2026SEC-CFTC Token Taxonomy
SEC and CFTC issued landmark joint token taxonomy
First formal classification framework for crypto assets under US law. Ends decade of regulatory uncertainty. Bitcoin, Ether, Solana and XRP confirmed as digital commodities. Most tokens confirmed not to be securities.
GuidanceUnited States
11 March 2026SEC-CFTC Token Taxonomy
SEC and CFTC signed MOU on overlapping jurisdiction
Formal truce on SEC-CFTC jurisdictional battle over digital assets. Joint Harmonisation Initiative established for aligned examinations and enforcement.
GuidanceAustralia
11 March 2026Australia Digital Assets Framework
ASIC confirmed substance-over-form approach for DeFi
ASIC head of fintech confirmed regulatory obligations apply whenever identifiable parties influence a protocol's design or economic outcomes, regardless of claimed decentralisation.
UAE VARA Framework
CMA Decision No. 4/R.M/2026 issued — new federal VASP law
New federal VASP Decision replaces previous rules entirely. Establishes 8 licence categories, new capital requirements, hard prohibitions on specific asset classes.
Status changeUAE
13 February 2026UAE CMA Federal VASP
CMA issued New Federal VASP Law — Decision No. 4/R.M/2026
Replaces all previous federal VASP rules. 8 activity categories, new capital requirements, acquisition threshold controls, and hard asset prohibitions. Compliance obligations began immediately.
Status changeUnited Kingdom
4 February 2026UK FSMA Crypto Regime
FSMA (Cryptoassets) Regulations 2026 enacted
The legislation received Parliamentary approval and was published as SI 2026/102. Establishes the full statutory framework for cryptoasset regulation under FSMA.
GuidanceUnited States
21 January 2026CLARITY Act
Senate Agriculture Committee published Digital Commodity Intermediaries Act
Updated legislative text focusing on digital asset intermediaries under CFTC oversight. Senate markup scheduled for January 29, 2026.
GuidanceSwitzerland
12 January 2026Switzerland FINMA Framework
FINMA published Guidance 01/2026 on crypto custody standards
Clarified requirements for segregation, bankruptcy protection, cold storage and third-party delegation. Swiss banks may hold crypto assets off-balance-sheet if properly segregated.
GuidanceHong Kong
8 January 2026HK VATP Licensing
SFC consulted on new licensing for VA advisers and managers
Consultation launched on licensing VA advisory and portfolio management services. Removes existing 10% de minimis threshold — any portfolio investing in VAs regardless of allocation size will need licensing.
Status changeUAE
1 January 2026UAE VARA Framework
Federal CMA framework entered into force — structural reset of UAE federal crypto regulation
Capital Market Authority (CMA, formerly SCA) established with broad federal jurisdiction. Any VA traded in UAE must now be on CMA approved list. CMA has de facto veto over VARA-licensed platform listings. Unified VASP register launched.
Status changeUAE
1 January 2026UAE CMA Federal VASP
Federal CMA framework entered into force — structural reset of UAE crypto regulation
Capital Market Authority (CMA) replaced Securities and Commodities Authority (SCA) with expanded powers. Federal token admission gateway now applies to all VAs traded in UAE. Unified VASP register launched.
Status changeSwitzerland
1 January 2026Switzerland FINMA Framework
CARF implementation effective
Switzerland began implementing OECD Crypto-Asset Reporting Framework. First data exchanges with partner tax authorities scheduled for 2027.
Status changeCanada
1 January 2026Canada FINTRAC / CSA
CARF effective — major expansion of crypto tax reporting
Canada now requires annual reporting to CRA of all customer crypto transactions. First automatic data exchanges with partner countries in 2027.
NewsHong Kong
25 December 2025HK VATP Licensing
Hong Kong plans 2026 legislation for VA dealers and custodians
FSTB and SFC confirmed plans to introduce legislation for VA dealing and custodian licensing regimes to the Legislative Council in 2026, following consultation that drew over 190 responses.
NewsSouth Korea
18 December 2025Korea VAUPA / DABA
FSC signalled significantly expanded crypto enforcement in 2026
Reports indicate FSC plans to use DABA powers to investigate foreign VASPs serving Korean users and pursue misconduct occurring partly outside Korea.
GuidanceUnited Kingdom
16 December 2025UK FSMA Crypto Regime
FCA published three major consultation papers
CP25/40 (conduct for trading platforms, intermediaries, lending, staking, DeFi), CP25/41 (admissions, disclosures, market abuse) and CP25/42 (prudential requirements) published simultaneously.
NewsHong Kong
3 November 2025HK VATP Licensing
SFC allowed VATPs to share order books with global affiliate platforms
Licensed VATPs may integrate with a shared order book operated jointly with a global affiliated VATP, enabling cross-platform order matching. Prior SFC approval required.
GuidanceSwitzerland
22 October 2025Switzerland FINMA Framework
Federal Council proposed new crypto-institution and payment institution licence categories
Consultation launched on two new FINMA-supervised licences: payment instrument institutions (stablecoin issuers) and crypto-institutions (custody/trading platforms). SRO model to be phased out for client-asset-handling firms.
UAE PTSR
Federal Decree-Law No. 6 of 2025 (CB Law 2025) enacted
New Central Bank Law establishes Digital Dirham CBDC as legal tender. DeFi projects face hard deadline of September 2026 to obtain licences, with penalties up to AED 1 billion.
GuidanceUnited States
18 August 2025GENIUS Act
Treasury initiated 60-day public comment period on AML methods
Secretary of the Treasury sought feedback on innovative AML detection methods for digital assets as required by the Act.
Status changeHong Kong
1 August 2025HK Stablecoins Ordinance
Stablecoins Ordinance entered into force
Hong Kong became one of the first Asian jurisdictions to implement a dedicated stablecoin licensing regime. HKMA published accompanying AML/CFT guidelines simultaneously.
GuidanceCanada
1 August 2025Canada FINTRAC / CSA
Canada published CARF draft legislation
OECD framework to be effective January 2026, requiring crypto businesses to report customer and transaction data to CRA for exchange with partner jurisdictions.
Status changeUnited States
18 July 2025GENIUS Act
GENIUS Act signed into law — first federal US crypto legislation
President Trump signed the Act following strong bipartisan support. OCC confirmed it is "prepared to work swiftly" to implement the legislation.
Status changeUnited States
17 July 2025CLARITY Act
House passed CLARITY Act with strong bipartisan support
Passed 294-134 as part of "Crypto Week". Bill now with Senate committees for consideration.
Status changeCanada
16 July 2025Canada FINTRAC / CSA
NI 81-102 crypto investment fund rules finalised
Phase 2 amendments restricting public crypto-asset funds to alternative mutual funds and non-redeemable investment funds entered into force.
Status changeUAE
6 July 2025UAE PTSR
Transition period expired — only licensed payment tokens may be used for UAE payments
Merchants must cease accepting unregulated crypto for payments. Only CBUAE-licenced or registered stablecoins permitted.
NewsEuropean Union
1 July 2025MiCA
Over 40 MiCA CASP licences issued across EU
First licences were issued by Netherlands and Malta on 30 December 2024. Germany followed in January 2025. Over 40 licences issued by mid-2025, primarily from Netherlands.
Status changeSingapore
30 June 2025Singapore PSA / DPT
Enhanced consumer protection requirements took effect
Mandatory Risk Awareness Quiz for retail investors, stricter asset segregation, ban on crypto credit card purchases all became mandatory. 33 licensed operators as at mid-2025.
GuidanceGlobal/International
26 June 2025FATF Travel Rule
FATF published 6th Targeted Update on VA/VASP standards
Progress noted but only 1 of 138 jurisdictions fully compliant with R.15. Travel Rule adopted or in progress in 99 jurisdictions. Stablecoin illicit use growing — estimated USD 51 billion in crypto fraud/scam activity in 2024.
GuidanceGlobal/International
26 June 2025FATF Travel Rule
FATF released Best Practices on Travel Rule Supervision
New detailed guidance to assist jurisdictions in effectively supervising compliance with the Travel Rule for VASPs.
UAE VARA Framework
VARA Rulebook v2.0 entered into force
Major overhaul including Sponsored VASPs regime (operating under a licensed Regulated Sponsor), overhauled VA Issuance Rulebook, margin trading controls, and harmonised AML/CFT standards.
GuidanceSingapore
6 June 2025Singapore PSA / DPT
MAS clarified DTSP regime — no licensing for most offshore-only operators
MAS confirmed it will generally not license DTSPs serving only overseas customers due to AML risks. Existing operators required to cease cross-border activity by June 30, 2025.
Status changeSouth Korea
1 June 2025Korea VAUPA / DABA
Digital Asset Basic Act (DABA) enacted — Phase 2 framework
DABA adds stablecoin licensing regime, foreign VASP oversight, expanded FSC enforcement powers, and cross-border activity rules. Implementing regulations expected in force January 2026.
Japan PSA Crypto
PSA Amendment Act 2025 enacted — lighter intermediary category introduced
Pure intermediaries who do not take custody of client assets may now register under a lighter framework. Expected in force by June 2026.
NewsUnited States
21 March 2025OFAC Crypto Sanctions
Treasury removed Tornado Cash from sanctions list
Following a US court ruling that immutable smart contracts are not "property" under IEEPA, Treasury removed Tornado Cash sanctions.
GuidanceEuropean Union
17 January 2025MiCA
ESMA clarified treatment of non-MiCA compliant stablecoins
ESMA published statement requiring CASPs to prioritise restriction of services supporting non-MiCA compliant ARTs and EMTs, with sell-only basis permitted until end of Q1 2025.
Status changeEuropean Union
30 December 2024MiCA
Full MiCA framework entered into force
CASP authorisation requirements, market abuse rules and all remaining MiCA provisions became applicable on 30 December 2024. Grandfathering period for existing CASPs began simultaneously.
GuidanceUnited Kingdom
26 November 2024UK Crypto Financial Promotions
FCA warned MLR-registered firms on on/off ramp partnerships
FCA clarified that MLR-registered firms providing on/off ramp services to unregistered firms making illegal promotions may be handling criminal property.
GuidanceUnited Kingdom
7 August 2024UK Crypto Financial Promotions
FCA published compliance review findings
FCA reported mixed compliance: 1,702 alerts issued in first year, but only 54% resulted in removal of illegal promotions. Enforcement focused primarily on finfluencers.
Status changeSouth Korea
19 July 2024Korea VAUPA / DABA
VAUPA entered into force
80% cold storage, segregated bank accounts, insurance/reserves, market manipulation ban all effective. Korea now has one of Asia's most robust consumer protection frameworks for crypto.
Status changeUAE
6 July 2024UAE PTSR
PTSR entered into force — stablecoin services now regulated by CBUAE
First comprehensive UAE framework for payment tokens/stablecoins. Algorithmic stablecoins and privacy tokens prohibited. One-year transition began.
Status changeUnited Kingdom
8 January 2024UK Crypto Financial Promotions
Full compliance required — modification by consent expired
All cryptoasset firms must now comply with the 24-hour cooling-off period, appropriateness testing and all back-end rules.