Lawyers Aiding in Global Spread of Cryptocurrency Use

Lawyers Aiding in Global Spread of Cryptocurrency Use

In the ever-evolving world of cryptocurrency, the importance of legal teams cannot be overstated. These professionals are instrumental in setting up companies, obtaining licenses, opening bank accounts, protecting intellectual property, developing Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, and considering tax implications.

Recent legislative actions in the United States are aimed at providing regulatory clarity, promoting mass adoption, and enhancing investor protection. One such initiative is the GENIUS Act, which establishes the first federal framework for stablecoins, setting rules on issuers and backing requirements. Another bill, the CLARITY Act, seeks to transfer regulatory jurisdiction from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC) for certain digital assets, thereby defining rules for crypto exchanges, brokers, and dealers.

The SEC's "Project Crypto," launched in 2025, aims to modernize securities regulations to accommodate crypto markets. Key goals include creating clear guidelines on classification, providing disclosures and safe harbors for crypto offerings, and facilitating the integration of tokenized securities and Decentralized Finance (DeFi) protocols. The SEC emphasizes that most crypto assets are not securities and aims to provide specific rules to reduce ambiguity about applying the Howey test to digital assets.

The White House has also recommended enabling registered crypto trading venues to offer products tied to both crypto and traditional regulated assets, encouraging broader adoption and innovation within a regulated framework.

These initiatives collectively aim to create a more predictable legal environment, reduce barriers to entry for investors and businesses, and foster responsible growth of the crypto industry with adequate investor safeguards. However, regulatory developments are ongoing, and some aspects—such as final SEC rulemakings—are pending.

The European Union also adopted the Markets in Crypto-Assets (MiCA) regulation in 2023, creating a unified set of rules for crypto businesses across the union. This move is expected to foster regulatory clarity and promote mass adoption.

In the face of regulatory uncertainty, legal teams, such as Inteliumlaw, play a crucial role in helping crypto projects overcome complexities with ease. Their expertise is essential for issuing compliant crypto projects on the market and ensuring sustainable long-term growth.

The integration of cryptocurrency into traditional finance is still in its early stages, and the growth in crypto adoption is limited worldwide. A robust regulatory framework prioritizing transparency and investor safeguards is necessary to build confidence in crypto and increase adoption pace. Lack of a clear legal status, tax framework, and centralized regulatory body contributes to investor caution.

High-quality legal support is necessary for crypto projects to avoid remaining in a "gray zone" with no legal protection and limited opportunities to attract investment. Examples of compliant projects with legal support include Binance crypto exchange, the Solana network, and Bored Apes NFTs.

As the crypto industry continues to evolve, the role of legal teams will undoubtedly remain vital in navigating the complex regulatory landscape and fostering responsible growth. Getting a seasoned legal partner like Inteliumlaw on board is fundamental for crypto businesses seeking lasting compliance.

1. The recent GENIUS Act and CLARITY Act in the United States aim to provide regulatory clarity for stablecoins and digital assets by setting rules for issuers, crypto exchanges, brokers, and dealers.
2. The SEC's "Project Crypto" focuses on modernizing securities regulations to accommodate crypto markets, with goals such as creating clear guidelines and facilitating the integration of tokenized securities and Decentralized Finance (DeFi) protocols.
3. The European Union's Markets in Crypto-Assets (MiCA) regulation, adopted in 2023, aims to foster regulatory clarity and promote mass crypto adoption by creating a unified set of rules for crypto businesses.
4. In the face of regulatory uncertainty, legal teams, such as Inteliumlaw, are crucial for helping crypto projects navigate complexities and issue compliant projects on the market, ensuring sustainable long-term growth.
5. As the crypto industry continues to evolve, a robust regulatory framework prioritizing transparency and investor safeguards is necessary to build confidence in crypto and increase adoption pace, with clear legal status, tax framework, and centralized regulatory body as crucial components.

Read also: