Global Regulation Index
Where a virtual-asset business can be licensed, what it costs in capital and time, and — the question most vendors dodge — where the software provider sits relative to the licensing perimeter. Every jurisdiction page ends with links to the primary sources so you can verify all of it independently.
Read this first
This index is a research summary maintained by Thanaaya Technologies. It is not legal advice and it is not a substitute for qualified counsel in the jurisdiction you intend to operate in. Regimes change — several on this page changed in the twelve months before it was written. Use it to orient yourself and to brief your lawyers efficiently, then verify against the primary sources linked on each page.
Middle East
UAE — Dubai (VARA)
A dedicated virtual-asset regulator with seven activity-based licence categories and a mandatory two-stage approval.
UAE — Abu Dhabi (ADGM / FSRA)
The UAE's oldest digital-asset regime, built on English common law, with an asset-by-asset "Accepted Virtual Asset" gate.
UAE — DIFC (DFSA)
A recognition-based Crypto Token regime retrofitted onto an established financial-services rulebook. Updated rules took effect 12 January 2026.
UAE — Ras Al Khaimah (RAK DAO)
A low-cost free zone purpose-built for Web3 companies — and a company registrar, not a financial regulator. The distinction matters more than anything else on this page.
Europe
European Union (MiCA)
One authorisation, twenty-seven markets. The transitional period closes 1 July 2026 and MiCA moves into full application.
United Kingdom
An MLR registration regime today, moving toward full FCA authorisation of cryptoasset activities as regulated activities.
Switzerland
A mature, principles-based regime with a well-understood token taxonomy and genuine institutional depth.
Asia-Pacific
Singapore
A demanding, well-run regime under the Payment Services Act. Respected globally, and deliberately hard to enter.
Hong Kong
A mandatory VATP licensing regime with prescriptive custody rules and a stablecoin regime alongside it.
Japan
The oldest comprehensive regime in the world, written in the aftermath of Mt. Gox and hardened again after Coincheck.
Thailand
A licensing regime since 2018 under an Emergency Decree, now with explicit extraterritorial reach over offshore platforms serving Thai residents.
South Korea
Registration became genuine prudential supervision when the Virtual Asset User Protection Act took effect. The registered population has shrunk, not grown.
Australia
A dual-regulator model that hardened in 2026: AUSTRAC registration is no longer sufficient on its own, and platforms now need an AFS licence.
China (Mainland)
Comprehensively prohibited. There is no licensing path, and this entry exists so nobody wastes time looking for one.
India
Legal to operate, punishing to operate in. Mandatory FIU-IND registration, a 30% flat tax and a 1% TDS that structurally suppresses trading volume.
Americas
Canada
Crypto trading platforms are regulated as securities dealers, province by province, with a self-regulatory layer on top.
United States
No single licence. A federal AML registration plus a state-by-state money-transmitter map, over contested securities jurisdiction.
Brazil
A statutory framework in place since 2022, with the Central Bank building out the operating rules.
Africa
Nigeria
Digital assets became securities by statute in 2025, ending years of contradictory signals between the central bank and the securities regulator.
South Africa
The continent's most developed regime — crypto assets are a financial product and intermediaries need an FSP licence.
Not sure which of these applies to you?
Most operators need one primary licence and a clear position on everywhere else they touch. We will map that with you before you spend anything on legal fees.
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