Global Crypto Regulation Fragments: Capital Migrates from Enforcement-First to Rules-Based Jurisdictions
A comprehensive analysis from Law News UK documents how global crypto capital is migrating based on regulatory clarity rather than talent pools or tax optimization. The EU's MiCA framework has attracted institutional capital; UAE and Hong Kong are expanding licensing systems; China's continued prohibition pushes activity to alternative hubs. Stablecoins are increasingly viewed as geopolitical tools — dollar-backed stablecoins raise European concerns about US currency influence, while the ECB's Pontes platform (Q3 2026 launch) will require stablecoin settlement in central bank digital currency.