As the crypto market has grown in the past few years, the problem of risk to market integrity and consumer protection has become more and more significant. This has brought regulatory bodies to the fore, sparking the need for comprehensive global regulatory policy
approaches and supervisory frameworks to be put in place. The financial ecosystem is evolving at breakneck speed, with digital assets becoming increasingly interconnected with traditional financial systems. This has resulted in countries globally researching, legislating, and consulting to bring such assets under existing financial services frameworks. While the speed of action, approaches adopted, and definitions used remain fragmented, regulatory bodies globally have increased their push for international cooperation, signaling a drastic change and raising the bar for firms involved in digital assets.