Out of 43 countries analyzed by PwC, as many as 25 jurisdictions had stablecoin regulations in place in 2023.
Disclaimer: This article was republished with updated data from the PwC Global Crypto Regulation Report 2023, as it previously erroneously referred to the PwC Global Crypto Regulation Report 2022.
The industry of stablecoins — or cryptocurrencies like Tether (USDT) and USDC (USDC) — has seen massive growth over the past year, with the market value hitting new all-time highs in 2023. With stablecoins rapidly growing, global jurisdictions have been rushing to regulate the market, according to a new report.
As many as 25 countries had stablecoin legislation or regulation in place in 2023, according to the PwC Global Crypto Regulation Report 2023 published on Dec. 19. These countries include Austria, The Bahamas, Denmark, Estonia, Finland, France, Germany, Greece, Japan, Luxembourg, Portugal, Spain, Sweden, Switzerland and others, according to the PwC’s analysis and regulatory assessment.
