CDS Crypto News Nations with Complete Licensing Frameworks Exhibit Decreased Unlawful Crypto Behavior
Crypto News

Nations with Complete Licensing Frameworks Exhibit Decreased Unlawful Crypto Behavior

TRM Labs' analysis, featured in a report published on Monday, examined the global crypto policies of 21 jurisdictions, collectively representing 70% of the world's crypto exposure in 2023.

182
Nations with Complete Licensing Frameworks Exhibit Decreased Unlawful Crypto Behavior

Blockchain analytics firm TRM Labs discovered that crypto service providers in countries with comprehensive regulatory frameworks experienced lower rates of illicit activity compared to those in less regulated jurisdictions in 2023. The analysis, detailed in a report on Monday, covered global crypto policy in 21 jurisdictions representing 70% of the world’s crypto exposure. The report revealed that 80% of these jurisdictions have strengthened crypto oversight, with almost half specifically advancing consumer protection measures.

Nations with Complete Licensing Frameworks Exhibit Decreased Unlawful Crypto Behavior

“While differences in national philosophies and priorities persist, we observed a convergence toward certain standards,” the report stated. “This increasing regulatory maturity and greater focus on compliance by the private sector have already impacted illicit finance activities.” Looking ahead to 2024, the report highlighted lingering questions in the DeFi space, such as determining responsibility and accountability and how regulators can effectively exercise oversight and authority.

Although these questions may not find resolution in 2024, data from standards adopted during the year will offer valuable insights for understanding the impact of regulations in 2025, according to the report. TRM Labs also predicted that in 2024, the U.S. would take action on mixers and update national risk assessments on money laundering and terrorist financing.

GMT Crypto Made a Strong Start to the New Year, Increased by Nearly 20% in the Last Week

Leave a comment

Leave a Reply

Related Articles

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Memecoins Explained: The Intersection of Internet Culture and Crypto

Binance Research's report analyzes the rise of memecoins, highlighting their cultural impact,...

ETH Price Faces Challenges Amid ETF Outflows

Ethereum (ETH) struggles to maintain price above $2,500 amid ETF outflows and...