1、Pathways to the Regulation of Crypto-Assets:A Global ApproachW H I T E P A P E RM A Y 2 0 2 3ContentsImages:Getty Images 2023 World Economic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by a

2、ny information storage and retrieval system.Disclaimer This document is published by the World Economic Forum as a contribution to a project,insight area or interaction.The findings,interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by t

3、he World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum,nor the entirety of its Members,Partners or other stakeholders.PrefaceExecutive summary1 The need for a global approach to crypto-asset regulation1.1 The nature of technology1.2 The prospect

4、of interconnectedness between traditional financial and crypto-asset ecosystems2 Challenges to a global approach2.1 Lack of standardized definitions,taxonomies,classifications and understanding2.2 Regulatory arbitrage2.3 Fragmented monitoring,supervision and enforcement3 Regulatory approaches3.1 Pri

5、nciple-based regulation3.2 Risk-based regulation3.3 Agile regulation3.4 Self-and co-regulation3.5 Regulation by enforcement3.6 Analysis of regulatory approaches4 Conclusion and recommendations4.1 Recommendations for international organizations4.2 Recommendations for regional/national regulatory auth

6、orities4.3 Recommendations for the industryContributorsEndnotes3456101213141517192020212222242526272932Pathways to the Regulation of Crypto-Assets:A Global Approach2PrefaceAs with some other emerging technologies,regulating this ecosystem is like walking a tightrope it requires a delicate balance be