Policy convergence describes the phenomenon where different jurisdictions or organizations adopt similar approaches and regulations concerning a particular issue. This alignment of policies often results from international cooperation, shared challenges, or the influence of leading regulatory frameworks. It promotes consistency and reduces regulatory arbitrage.
Context
In the global digital asset space, policy convergence is a significant objective for international bodies and national governments aiming to create a cohesive regulatory environment. The disparate regulatory stances currently adopted by various countries pose challenges for crypto businesses operating globally. Efforts are underway to align policies on aspects such as stablecoins, market integrity, and anti-money laundering measures.
Uneven global implementation of FSB standards creates systemic risk and regulatory arbitrage, compelling firms to prioritize cross-jurisdictional compliance convergence.
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