... the world. Strengthening the legitimacy of digital assets, expanding the geography of crypto platforms, and the emergence of new fintech hubs like Kyrgyzstan create a unique conjuncture. Institutional players are gaining more confidence to enter the crypto market, recognizing that regulators are beginning to collaborate with the industry rather than merely combat it. Of course, much will depend on the practical implementation of the memorandum. The success of the pilot projects for Binance Pay and educational programs in Kyrgyzstan ...

... that new rules are being prepared, aimed at integrating cryptocurrencies into traditional finance. The SEC will develop clear criteria for determining when a token is classified as a security, as well as propose disclosure standards and exemptions for crypto assets. The regulator intends to collaborate with companies wishing to offer tokenized securities (stocks and funds on the blockchain). These steps signify a fundamental shift towards a more flexible approach and represent a significant victory for an industry long ...

... investment strategies, allowing them to make riskier but potentially more profitable investments. Both special funds and mutual investment funds are regulated by BaFin (Federal Financial Supervisory Authority). Crypto Enthusiasts Criticize Stricter Regulations Although crypto enthusiasts tend to criticize the associated stricter regulations, Hildebrandt sees it as an advantage, as foreign institutional investors perceive such investment forms as safer. The new law has also received approval from the Federal Association ...

... the integration of cryptocurrencies into the national system. These events have served as powerful positive signals for the industry. Similar trends are forming in other parts of the world. In the European Union, the MiCA (Markets in Crypto-Assets) regulations came into effect, introducing transparent rules for the issuance of crypto assets, the operation of crypto exchanges, and wallet providers across all EU countries. This allows companies to operate legally in the European market and obtain standardized licenses. In Asia, financial hubs such as Hong Kong and Singapore are ...

... cryptocurrency exchanges and the digital asset market — an important step towards integrating the crypto market into the legal framework. European Union: The EU's comprehensive MiCA regulation has come into effect, introducing uniform standards for regulating crypto assets across the EU. The new licensing and oversight regime ensures transparency in the operations of crypto companies and investor protection, stimulating the flow of capital into the legal realm and strengthening Europe's position in the global ...