PwC’s Global Crypto Regulation Report 2025
Navigating the Global Crypto Landscape with PwC
The PwC Global Crypto Regulation Report 2025 explores the rapidly evolving regulatory landscape for digital assets, highlighting key policy shifts and emerging trends in over 50 jurisdictions. PwC’s third annual report examines the shifting stance on crypto regulation in the United States (US), the implementation of the European Union’s (EUs) Markets in Crypto-Assets Regulation (MiCAR), and the growing adoption of comprehensive frameworks worldwide.
The US has seen notable regulatory developments, with an increasing focus on integrating digital assets into the broader financial ecosystem. Regulatory agencies have taken steps toward providing clearer guidance, and recent policy shifts signal a maturing approach that seeks to embrace responsible innovation while enhancing oversight.
Meanwhile, the EU has moved forward with MiCAR, bringing a harmonised regulatory framework aimed at fostering a sustainable and transparent digital asset market. With the first phases of MiCAR implementation underway, market participants are adjusting to new compliance requirements and operational considerations. Across the globe, other jurisdictions are following suit, introducing frameworks that address emerging risks while encouraging technological advancement.
“The regulatory pendulum is swinging back across major jurisdictions, and as key barriers to entry begin to fall, firms — both traditional and digital asset-native — are facing a pivotal moment. Now is the time for strategy development that balances innovation with disciplined risk management and rapidly evolving compliance frameworks.”
Matt Blumenfeld, Global and US Digital Assets Lead, PwC US
“The operationalisation of the Markets in Crypto-Assets Regulation (MiCAR) within the European Union marks a significant milestone in digital asset regulation, creating a harmonized framework that enhances legal certainty, fosters innovation, and ensures consumer protection and market integrity.
MiCAR’s influence extends globally, prompting other jurisdictions to accelerate their crypto-asset regulatory efforts. However, divergences amongst global standards may continue due to varying regulatory philosophies and market conditions. These differences may lead to regulatory arbitrage, but MiCAR’s implementation is a pivotal step towards global regulatory convergence, encouraging international dialogue and cooperation in the evolving crypto-asset space.”
Dr Michael Huertas, Partner, Global & European FS Legal Leader, PwC Legal Business Solutions Germany
Find last year’s report here:
Navigating the Global Crypto Landscape with PwC: 2024 Outlook
