A recent report from Coinbase found that 83% of G20 members and major financial centers have made impressive progress in achieving regulatory clarity in the crypto space.
Global countries are competing to become the top crypto hubs to attract global investors and foster innovations. Regulatory clarity has emerged in various countries, including the EU, UAE, China (HK), Singapore, Australia, and Canada.
In June, European Union introduced the Markets in Crypto-Assets (MiCA) regulation, ensuring consistent rules across all 27 EU nations. Furthermore, countries like Italy, the Netherlands, and Ireland have granted Coinbase Virtual Asset Service Provider (VASP) registrations. As a result, Europe now hosts two-thirds of the world’s blockchain job opportunities.
Over the last six months, several nations and regions have made significant strides in crypto regulation. The EU’s MiCA regulation, the UK’s proactive stance on crypto, the UAE’s ambition to become a crypto hub, Australia’s crypto licensing framework, and Canada’s regulatory efforts are noteworthy. Additionally, Hong Kong and Japan have embraced digital assets.
Thanks to its crypto-forward approach, Europe now claims two thirds of the world’s blockchain jobs, 68%, versus 14% apiece for Asia and North America, and is at parity with the United States in share of developer jobs at 29%.
According to Coinbase, Europe alone now holds “two thirds of the world’s blockchain jobs, 68%, versus 14% apiece for Asia and North America”.
Furthermore, International organizations like the International Organization of Securities Commissions, Financial Stability Board, and the G20 are collaborating to form global guidelines for cryptocurrencies. Brazil’s upcoming G20 presidency presents an opportunity to advance global crypto regulation.