Navigating the patchwork of global crypto licensing requirements
It's becoming increasingly clear that the 'global' nature of crypto is running headlong into a very fragmented regulatory landscape. We're seeing more jurisdictions, even within the EU, carving out their own specific licensing regimes for VASPs. It's not just the big ones like MiCA coming into play; smaller nations are also getting serious. I'm curious how others in this room, particularly those operating across multiple regions, are handling the sheer complexity of maintaining compliance. Are you finding a common denominator that helps streamline the process, or is it mostly a bespoke approach for each market? And how are you factoring potential future changes into your current licensing strategies? The overhead for staying on top of this could very quickly become prohibitive for some players, especially as it touches everything from $BTC spot trading to novel DeFi protocols.
This is something I've been following as well. Do you think this fragmentation will eventually lead to some kind of international standard, or are we just going to see more and more localized rules?