Four PillarsFour PillarsAsia Digital Asset Policy Center

Topics · Foundation

Core framework.

Every market starts with the same questions: what is a crypto asset in law, which activities need a licence, and how far the regulator's arm reaches, including to firms offshore.

The answers decide everything built on top. Markets that wrote a dedicated statute move faster; those stretching payments or securities law often leave grey zones.

Asset classification and taxonomyWhat counts as a crypto asset, a security token or e-money in law.30 of 31 markets · 120 sourcesLicensing and perimeterWhich activities need a licence, and which fall outside.21 of 31 markets · 69 sourcesSupervision, enforcement and territorial reachHow regulators police the rules, including firms based offshore.26 of 31 markets · 73 sourcesFX and capital flow rulesForeign exchange controls and how crypto crosses borders.4 of 31 markets · 4 sourcesOwnership and control of licensed entitiesWho may own an exchange or issuer, and fit-and-proper tests.11 of 31 markets · 11 sources

Primary sources per market and subtopic

Asset classificationLicensingSupervisionFXOwnership