Crypto Regulation Chaos: Why Is the US Lagging Behind the G20’s 83% Consensus?

• 83% of G20 member nations and major financial centers are progressing towards regulatory transparency in crypto.
• The United States stands as a notable outlier in this global movement.
• Countries worldwide are competing to establish themselves as leading cryptocurrency hubs.

Regulatory clarity has become a central focus for governments and financial hubs worldwide. Currently, a staggering 83% of G20 member nations and major financial centers have made significant strides toward achieving regulatory transparency within the crypto space. However, a notable outlier in this global movement is the United States.

Across the globe, countries are engaging in a competitive race to establish themselves as prominent cryptocurrency hubs.

Regulatory frameworks have emerged in various regions, including the European Union, the United Arab Emirates, Hong Kong (a part of China), Singapore, Australia, and Canada, among others.

Coinbase, a key player in the crypto industry, is actively contributing to the transformation of the financial system by aligning itself with the evolving regulatory landscape. The company is committed to adapting its operations in accordance with clear and defined regulations wherever they are enacted.

Crypto regulatory progress around the globe

Let’s delve into some statistical insights: Currently, a significant 68% of blockchain-related job opportunities are concentrated in Europe.

This statistic isn’t merely coincidental; it is a reflection of deliberate efforts driven by political determination, visionary leadership, a penchant for seizing opportunities, and policymakers fulfilling their elected or appointed roles effectively.

Coinbase underscores the significance of embracing change and working collaboratively with governments worldwide.

As they rightfully put it, “By sidelining itself while so many

advanced and emerging economies move ahead, the US risks forfeiting its influence over the future of the financial system. Indeed, the United States has already experienced a notable decline in blockchain-related job opportunities compared to the previous year, from 2022 to 2023.

Coinbase is actively engaged with governments spanning from Europe to the Middle East and Latin America. Their mission is to provide the most trusted services and products that contribute to the modernization of our financial systems.

In conclusion, the equation for long-term growth in the crypto space is clear: clear regulations, innovation, and user trust.