What shaped crypto policy in 2024?
Waves of adoption
Implementation of regulatory frameworks
Out of the 24 jurisdictions we reviewed — representing about 70% of global crypto exposure — about 70% made progress implementing regulations. At the same time, policymaking continues apace, with over 60% of these jurisdictions introducing new policies or positions for digital assets.
ETFs and institutional adoption
The approval of Bitcoin ETFs in January and the market reaction to the US election were perhaps the biggest market events of 2024. ETF approval and the continued move toward tokenization made 2024 the year in which institutions leaned further into crypto assets.
Continued innovation
2024 also saw a proliferation of pilots, sandboxes, and calls for information on digital asset topics.
Winds of change
Elections
While early predictions suggested digital assets could be a significant influence, crypto largely remained a secondary concern. Notably, in major elections across the UK, France, India, and South Africa, crypto received limited attention, with few mentions during campaigns. Even post-election, newly formed administrations in these countries took minimal steps to actively support or regulate cryptocurrency, indicating that broader economic and social issues continued to dominate political priorities.
The outlier was the US election — where although crypto was a secondary issue, the outcome previews potential movement on crypto legislation and changes in policy and enforcement in 2025 and beyond.
Geopolitical climate
2024 was an increasingly tense year geopolitically, with conflicts intensifying across the Middle East, Africa, and within Europe.
Regulatory capacity
Across the globe, 2024 was a year of massive change in crypto policy and, more broadly, financial regulations. And almost every jurisdiction in the world is in the midst of regulatory discussions about what their future digital financial system will look like.
Leave a Reply