Licensing
AMF (Autorité des Marchés Financiers — France)
AMF's PSAN regime for crypto asset service providers, the transition to MiCA CASP licensing, and France's active role in EU regulatory development.
Bahrain's Crypto Regulation: The Gulf Pioneer and CBB's Pragmatic Framework
Bahrain became one of the first Gulf states to regulate cryptocurrency exchanges when the Central Bank of Bahrain issued its crypto asset module in 2019 — positioning the island kingdom as a Gulf FinTech hub.
SFC (Securities and Futures Commission — Hong Kong)
SFC's mandatory VATP licensing regime, the JPEX enforcement incident, the ASPIRe Roadmap's five pillars, and SFC's coordination with HKMA and HKEX.
VARA (Virtual Assets Regulatory Authority — Dubai)
VARA's establishment under Dubai Law No. 4 of 2022, its seven licence categories, the world-first DeFi regulatory track, and major licensees including Bybit and Binance.