Tailored exemptions are specific exceptions granted from general regulatory requirements for particular situations or entities. These provisions allow certain digital asset activities or service providers to operate outside the full scope of a standard regulatory framework, often due to their limited scale, specific technological characteristics, or reduced systemic risk. Regulators apply such exemptions to foster innovation or avoid disproportionate burdens on nascent segments of the market. They aim to achieve regulatory proportionality while upholding core objectives.
Context
The application of tailored exemptions is a frequent point of discussion in the development of digital asset regulations, as authorities seek to balance oversight with industry growth. Debates concern which types of crypto-assets or services warrant such treatment and the criteria for granting these exceptions. The ongoing challenge involves crafting exemptions that are precise enough to provide clarity without creating loopholes for regulatory arbitrage.
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