Report: 25 Countries/Regions Implemented Stablecoin Legislation in 2023

According to the “PwC Global

Cryptocurrency

Regulation Report 2023” released on December 19th, as many as 25 countries/regions have established legislation or regulations concerning stablecoins in 2023. As analyzed and assessed by PricewaterhouseCoopers (PwC), these countries include Austria, the Bahamas, Denmark, Estonia, Finland, France, Germany, Greece, Japan, Luxembourg, Portugal, Spain, Sweden, Switzerland, among others. The majority of these nations/regions that have enacted stablecoin laws have also ensured or implemented all other regulatory checks, including cryptocurrency regulatory frameworks, licensing or registration, and the Financial Action Task Force (FATF) travel rule.

The report assessed the cryptocurrency regulatory landscape in 43 countries/regions, including the United States and the United Kingdom. According to the report's analysis, countries such as the United States, the United Kingdom, and Canada have yet to finalize legislation concerning stablecoins and have not established a regulatory framework for cryptocurrencies. Data reveals that certain crypto-friendly countries/regions, such as Singapore and the United Arab Emirates, have adopted all cryptocurrency-related regulations except for stablecoins.