Global cryptocurrency regulations are becoming increasingly fragmented due to divergent national policies.

What's this about?

People disagree about whether world crypto rules are growing more different as countries make their own choices.

Crypto means online money or online assets, such as Bitcoin.

What supporters say

• The EU uses one broad set of crypto rules, while the US often uses court cases and many agencies.
• Singapore allows some crypto firms under special rules, but China blocks or limits trading and mining.
• These choices change which firms can enter, what coins count as, and which services they can sell.
• Countries also use different rules to stop dirty money, including a rule called the Travel Rule.

What critics say

• Big rule gaps already exist, but we do not know for sure if those gaps grow each year.
• Many countries try to make crypto safer, even when they choose different ways to do it.
• Rules can change fast, so a country that looks strict now may later allow more crypto work.
• It can be hard to compare rules because each country has its own laws and groups in charge.

The bottom line

The evidence clearly shows that crypto firms face very different rules in different countries.

But we are not sure yet that these rule gaps keep getting bigger over time.