Stay at the forefront of digital asset policy development.

The Digital Assets Policy Library collects key source materials from jurisdictions and organizations around the world. This resource aims to assist students, researchers, policymakers, and industry professionals in navigating the rapidly evolving policy landscape. While this library is not a comprehensive list by country, it does provide links to external websites for additional information.

Regarding methodology, we select sources based on their relevance, authority, and impact on digital asset policy, focusing on documents that shape or reflect significant regulatory, legal, and policy shifts. We regularly review and update our resources to maintain their currency and relevance.

 

Recent Developments

 

TREASURY DEPARTMENT

“They will and should be subject to the same legal, regulatory, governance, security, and technical standards...” Under Secretary for International Affairs, Jay Shambaugh, remarks.

Read the Statements
 

SINGAPORE

Singapore Monetary Authority announces proposed regulatory measures for digital payment token services.

Read the Release
 

Securities and Exchange Commission

Securities and Exchange Commission (SEC) approves the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares.

See the Press Release
 

Bank for International Settlements

Bank for International Settlements (BIS) Project Tourbillon demonstrates cash-like anonymity for retail CBDC.

See the Project
 

Financial Stability Board

Financial Stability Board (FSB) releases report on the financial stability implications of multifunction crypto-asset intermediaries.

Read the Report
 

International Organization of Securities Commissions

The International Organization of Securities Commissions (IOSCO) releases policy recommendations to address market integrity and investor protection issues in Crypto and Digital Asset (CDA) Markets.

Read the Recommendations

 

Highlighted Country Policies

Document Type

Source

Publication Date
Legislation Adoption of 4 delegated acts covering significance criteria for “stablecoins”, intervention powers, penalties and fees February 22, 2024
Press Release Decision by the ECB’s Governing Council to conclude the investigation phase and move to the preparation phase of the digital euro project October 18, 2023
Joint Opinion Joint opinion by the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) on the proposed regulation on the digital euro as a central bank digital currency October 17, 2023
Consultation Paper Consultation Paper on the Technical Standards specifying certain requirements of MiCA (2nd package) October 5, 2023
Consultation Paper Consultation Paper on the Technical Standards specifying certain requirements of MiCA (1st package) July 12, 2023
Legislation The Markets in Crypto-assets Regulation (MiCA) came into force June 29, 2023

Organization

Document Type

Source

Publication Date
SFC/HMA Circular Circular on SFC-authorised funds with exposure to virtual assets December 22, 2023
SFC/HMA Joint Circular Joint circular on intermediaries’ virtual asset-related activities December 22, 2023
SFC Circular Circular on intermediaries engaging in tokenised securities-related activities November 2, 2023

Monetary Authority of Singapore

Document Type

Source

Publication Date
Consultation Paper Proposed Regulatory Measures for Digital Payment Token Services November 23, 2023
Information Paper Orchid Blueprint November 16, 2023
Information Paper Interlinking Networks November 15, 2023
Consultation Paper Proposed Amendments to the Payment Services Regulations July 3, 2023
Consultation Paper Proposed Measures on Market Integrity in Digital Payment Token Services July 3, 2023
Information Paper Project Guardian - Open and Interoperable Networks June 26, 2023
Information Paper Project Cedar Phase II x Ubin May 19, 2023
Consultation Paper Enhancing Safeguards for Proper Conduct of Digital Prospecting and Marketing Activities April 25, 2023
Consultation Paper Proposed Regulatory Approach for Stablecoin-Related Activities October 26, 2022
Information Paper A Retail Central Bank Digital Currency (CBDC): Economic Considerations in the Singapore Context November 9, 2021

Virtual Assets Regulatory Authority

Document Type

Source

Publication Date
Regulation Virtual Assets Framework February 7, 2023

Regulation

 Virtual Asset Service Provider (VASP) Licence

February 7, 2023
Registry

Public record of Licensed Virtual Asset Service Providers

 February 7, 2023

Organization

Document Type

Source

Publication Date
FCA Policy Paper Firms’ preparations to comply with the cryptoasset financial promotions regime – feedback on good and poor practice September 7, 2023
Bank of England Discussion Paper Enabling innovation through a digital pound August 24, 2023
HM Treasury Policy Paper Policy paper – Terms of Central Bank Digital Currency Taskforce: Terms of Reference August 9, 2023
UK Gov Legislation Financial Services and Markets Act 2000 (Amended) July 2023
FCA Policy Paper Perimeter Report July 2023
House of Commons, Treasury Committee Policy Paper Government Response to the Committee’s Fifteenth Report July 19, 2023
Law Commission Policy Paper Digital assets: Final report June 2023
UK Gov Policy Paper Policy paper – Factsheet: cryptoassets – legislation June 20, 2023
UK Gov Policy Paper Policy paper – Factsheet: cryptoassets technical June 20, 2023
House of Commons, Treasury Committee Policy Paper Regulating Crypto; Fifteenth Report of Session 2022–23 May 10, 2023
Bank of England Consultation Paper The digital pound: A new form of money for households and businesses? February 7, 2023
HM Treasury Consultation Paper Future financial services regulatory regime for cryptoassets February 1, 2023

United States

Source

Publication Date

Statement of Commissioner Christy Goldsmith Romero on CFTC’s Digital Assets and Blockchain Technology Subcommittee Release of Decentralized Finance Report

 January 08, 2024
Decentralized Finance Report January 2024

CFTC Releases FY 2023 Enforcement Results

 November 07, 2023
PLI White Collar Crime 2023 Keynote Speech of Enforcement Director Ian McGinley: “Enforcement by Enforcement: The CFTC’s Actions in the Derivatives Markets for Digital Assets” September 11, 2023

Document Type

Source

Publication Date
Proposed Legislation S.2669 - Digital Asset Anti-Money Laundering Act of 2023 February 1, 2024
Proposed Legislation H.R.5745 - Digital Asset Market Structure and Investor Protection Act January 17, 2024
Proposed Legislation H.R.3712 - Digital Dollar Pilot Prevention Act September 20, 2023
Proposed Legislation H.Res.604 - Expressing support for blockchain technology and digital assets August 1, 2023
Proposed Legislation H.Res.629 - Expressing the sense of the House of Representatives that the Board of Governors of the Federal Reserve System and the Federal Open Market Committee should not be permitted to develop, create, or implement a central bank digital currency, or use any such tool to implement monetary policy July 27, 2023
Proposed Legislation H.R.5050 - Cryptocurrency Accountability Act July 27, 2023
Proposed Legislation S.1870 - Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act June 7, 2023
Proposed Legislation S.1357 - Responsible Digital Asset Advertising Act of 2023 April 27, 2023
Proposed Legislation H.Res.238 - Expressing the sense of the House of Representatives regarding the importance of Proof-of-Work mining, used for certain cryptocurrencies such as Bitcoin, to the United States ability to achieve its energy goals and grow its economy March 21, 2023
Proposed Legislation H.R.8545 - To establish a blockchain and cryptocurrency position within the Office of Science and Technology Policy, and for other purposes July 27, 2022
Proposed Legislation H.R.5083 - Cryptocurrency Tax Reform Act August 23, 2021
Proposed Legislation H.R.5082 - Cryptocurrency Tax Clarity Act August 23, 2021

Source

Publication Date

Remarks by Under Secretary for International Affairs Jay Shambaugh on New Technologies and Cross-border Payments

 October 17, 2023
U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers August 25, 2023

Financial Stability Oversight Council Releases Report on Digital Asset Financial Stability Risks and Regulation

 October 3, 2022

Source

Publication Date

FinCEN Proposes New Regulation to Enhance Transparency in Convertible Virtual Currency Mixing and Combat Terrorist Financing

 October 19, 2023

Source

Publication Date
Statement on the Approval of Spot Bitcoin Exchange-Traded Products January 10, 2024
Statement Regarding the Commission’s Approval of Proposed Rule Changes to List and Trade Shares of Spot Bitcoin Exchange-Traded Products January 10, 2024
Statement Dissenting from Approval of Proposed Rule Changes to List and Trade Spot Bitcoin Exchange-Traded Products January 10, 2024
Crypto Assets and Cyber Enforcement Actions Ongoing

Source

Publication Date

National Objectives for Digital Assets Research and Development

 March, 2023
The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks January 27, 2023

Executive Order on Ensuring Responsible Development of Digital Assets

 March 9, 2022

Non-Governmental Organizations (NGOs)

 

Source

Description

Publication Date

Project Tourbillon demonstrates cash-like anonymity for retail CBDC

BIS Innovation hub - Project Tourbillon

November 29, 2023

Project Mandala: shaping the future of cross-border payments compliance

Project Mandala explores the feasibility of encoding jurisdiction-specific policy and regulatory requirements into a common protocol for cross-border use cases such as foreign direct investment, borrowing and payments.

November 15, 2023

Project mBridge: experimenting with a multi-CBDC platform for cross-border payments

Project mBridge experiments with a multiple-central bank digital currency (multi-CBDC) common platform for wholesale cross-border payments. It seeks to solve some of the key inefficiencies of cross-border payments, such as high costs, low speed and transparency, and operational complexities.

October 31, 2023

Project Polaris: secure and resilient CBDC systems, offline and online

As part of Project Polaris, the BIS Innovation Hub Nordic Centre has published a comprehensive handbook exploring key aspects of how central bank digital currencies (CBDCs) could work for offline payments, a security a resilience framework for CBDC systems and a paper on Closing the CBDC threat modelling gaps.

October 26, 2023

Project FuSSE aims to modernize financial market infrastructures

Project FuSSE (Fully Scalable Settlement Engine, pronounced as fyooz) is a BIS Innovation Hub project that aims to modernize financial market infrastructures for the demands of the digital age.

October 13, 2023

Source

Publication Date
The Financial Stability Implications of Multifunction Crypto-asset Intermediaries November 28, 2023
Promoting Global Financial Stability: 2023 FSB Annual Report October 11, 2023
IMF-FSB Synthesis Paper: Policies for Crypto-Assets September 7, 2023
FSB Chair’s letter to G20 Leaders: September 2023 September 5, 2023
FSB Global Regulatory Framework for Crypto-asset Activities July 17, 2023
High-level Recommendations for the Regulation, Supervision and Oversight of Crypto-asset Activities and Markets: Final report July 17, 2023
High-level Recommendations for the Regulation, Supervision and Oversight of Global Stablecoin Arrangements: Final report July 17, 2023
International Regulation of Crypto-asset Activities - A Proposed Framework: Overview of responses to the consultation July 17, 2023
FSB Chair’s letter to G20 Finance Ministers and Central Bank Governors: July 2023 July 12, 2023
FSB Work Programme for 2023 March 30, 2023
FSB Chair’s letter to G20 Finance Ministers and Central Bank Governors: February 2023 February 20, 2023
The Financial Stability Risks of Decentralised Finance February 16, 2023

Source

Publication Date
New Evidence on Spillovers Between Crypto Assets and Financial Markets September 29, 2023
Assessing Macrofinancial Risks from Crypto Assets September 29, 2023
Central Bank Digital Currency's Role in Promoting Financial Inclusion September 22, 2023
Capital Flow Management Measures in the Digital Age (2): Design Choices for Central Bank Digital Currency September 15, 2023
Implications of Central Bank Digital Currencies for Monetary Policy Transmission September 15, 2023
Cryptocarbon: How Much Is the Corrective Tax? September 15, 2023
A Guide to Central Bank Digital Currency Product Development September 8, 2023
How Should Central Banks Explore Central Bank Digital Currency? September 8, 2023
Unleashing Mideast Fintech August 31, 2023
Generative Artificial Intelligence in Finance: Risk Considerations August 22, 2023
The Crypto Cycle and US Monetary Policy August 4, 2023
Digital Tokens: A Legal Perspective July 28, 2023
Taxing Cryptocurrencies July 5, 2023
Bank Competition and Household Privacy in a Digital Payment Monopoly June 9, 2023
Measurement and Use of Cash by Half the World’s Population March 17, 2023
IMF Approach to Central Bank Digital Currency Capacity Development April 11, 2023

Source

Publication Date
IOSCO Policy Recommendations for Crypto and Digital Asset Markets (including DeFi) - Umbrella Note December 19, 2023
Final Report with Policy Recommendations for Decentralized Finance (DeFi) December 19, 2023
Policy Recommendations for Crypto and Digital Asset Markets November 16, 2023
Policy Recommendations for Decentralized Finance (DeFi) September 7, 2023
Policy Recommendations for Crypto and Digital Asset Markets May 23, 2023

Source

Publication Date
Digital Public Goods for Disaster Risk Reduction in a Changing Climate March 16, 2023
Crypto-Assets Activity around the World: Evolution and Macro-Financial Drivers March 8, 2022
Fintech and SME Finance: Expanding Responsible Access 2022
What Does Digital Money Mean for Emerging Market and Developing Economies? 2022
Distributed Ledger Technology and Secured Transactions: Note 2. Regulatory Implications of Integrating Digital Assets and Distributed Ledgers in Credit Ecosystems May 2020
Distributed Ledger Technology and Secured Transactions: Note 1. Collateral Registry, Secured Transactions Law and Practice May 2020
Timothy G. Massad
“...whether crypto assets are the next big thing or modern-day Dutch tulips should not determine whether or how we regulate them. There is nothing so exceptional about crypto assets that justifies giving them a regulatory pass.”
Timothy G. Massad, Director of the Digital Assets Policy Project


Creators & Research Team

 

Kabir Mehta

Kabir is a final year Master in Public Policy candidate, focusing on financial markets policy, digital assets, and fast payment systems.

Logan Herman

Logan is a final year Master in Public Policy candidate, focusing on financial markets, banking stability, and digital payment systems.