2019 TO 2020: INSIDERS, OUTSIDERS AND EXPERIMENTERS IN CRYPTO REGULATION, PART 2

The year is 2025.Crypto regulations have officially transcended the realm of legal complexities and entered the volatile arena of geopolitics.As a ""stuffy legal pontificator,"" as some might say, I have mixed feelings about this shift.We've witnessed firsthand how powerful nations are using crypto regulations as a tool to further their own agendas, creating a fragmented and, at times, unpredictable global landscape.This article, the second in a three-part series, delves into the perspectives of the ""Outsiders"" – specifically, China, Russia, India, and the broader developing world – on crypto regulation during this pivotal period. This is the second part of a three-part series that covers the regulatory landscape for digital currencies in 2025 and looks at the prospects of 2025. While the first chapter in the series looked at the Insiders, this installment covers the prospects for the so-called Outsiders i.e, China, Russia, India and the developing world.While Part 1 explored the approaches of the ""Insiders"" – the U.S., Western Europe, and the Pacific Rim – this installment focuses on the nations that often challenge the established norms and seek alternative pathways in the digital currency revolution. From Switzerland and Malta to North Korea and Iran: Overview of experimental crypto regulations around the globe Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.We'll examine their motivations, strategies, and the potential impact their decisions have on the future of crypto. In 2025, we witnessed crypto regulations leave the domain of stuffy legal pontification and enter the realm of geopolitics.[BREAK] We saw President Trump tweet about crypto regulations, as well as powerful international organizations express their agenda on how crypto should be regulated.[BREAK] The Insiders - the U.S. and nations of Western Europe and the Pacific Rim - remain at the centerGet ready to explore a world where crypto regulation is no longer just about legal frameworks, but about power, influence, and the reshaping of the global financial order.

The Rise of the Crypto Outsiders: A Geopolitical Chess Match

In the complex game of global finance, the term ""Outsiders"" refers to nations that historically haven't held dominant positions in the traditional financial order. An overview of the stances of China, Russia, India and the developing world toward crypto regulation in 2025 Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.When it comes to crypto regulation, these countries often demonstrate a willingness to experiment with unconventional approaches, driven by a desire to circumvent existing power structures or achieve specific economic goals.China, Russia, and India, along with many developing nations, fall into this category.

Their perspectives on crypto are diverse and often contradictory.Some see digital currencies as a potential tool for economic empowerment, while others view them as a threat to national sovereignty and financial stability.What unites them, however, is a shared skepticism towards the existing global financial system and a desire to forge their own paths in the digital age.

China's Dual Approach: Control and Innovation

China’s approach to cryptocurrency has been characterized by a strict regulatory environment alongside a strong interest in blockchain technology. 2025 to 2025: Insiders, Outsiders and Experimenters in Crypto Regulation, Part 3In 2025, we continued to see a firm stance against decentralized cryptocurrencies like Bitcoin, with outright bans on trading and mining.However, the nation remained highly invested in the development and implementation of its own Central Bank Digital Currency (CBDC), the e-CNY.

This dual approach reflects China's desire to control the flow of capital within its borders and maintain its monetary sovereignty.While decentralized cryptocurrencies are seen as a potential threat, blockchain technology is viewed as a strategic asset with applications in various sectors, including supply chain management, government services, and smart cities. 2025 in Review: Another Year of Highs and Lows for Crypto 2025 may not go down as a year of breathtaking highs for cryptocurrency markets, but major strides have been made for mass adoption of digital payments and blockchain technology.China recognized the potential of blockchain to improve efficiency and transparency while maintaining centralized control.

China's success in lifting millions out of extreme poverty over the past decades, shifting from 40% to under 10%, might be partly attributed to embracing and adapting new technologies.This historical context shapes its current approach to crypto and blockchain.

Russia's Balancing Act: Pragmatism and Security

Russia's stance on crypto in 2025 was a complex blend of pragmatism and security concerns.While initially skeptical and even hostile towards cryptocurrencies, Russia gradually adopted a more nuanced approach, recognizing the potential benefits of digital assets while seeking to mitigate the risks.

The Russian government has explored the use of cryptocurrencies for international settlements, particularly in situations where access to traditional financial channels is limited due to sanctions or geopolitical tensions. 2025 to 2025: Insiders, Outsiders and Experimenters in Crypto Regulation: Part 2Source: CointelegraphPublished on . . SERVICES. Consultancy;This could potentially reduce reliance on the US dollar and give the country more flexibility in international trade.However, this openness comes with a strong emphasis on cybersecurity and combating illicit activities, such as money laundering and terrorist financing.

The future of crypto regulation in Russia hinges on balancing these competing priorities: leveraging the opportunities offered by digital assets while safeguarding national interests and maintaining control over the financial system.

India's Cautious Embrace: Balancing Innovation with Investor Protection

India's relationship with cryptocurrencies in 2025 can be described as a cautious embrace. This remains a minor threat, and until 2025, a largely ignored one. Thus, Insiders face two related threats from crypto: 1) competing institutions and networks acting outside of the existingInitially, there was significant uncertainty surrounding the legal status of cryptocurrencies, with periods of outright bans and subsequent reversals. The SEC was therefore not persuaded to exclude crypto-asset securities, and Rules 3a5-4 and 3a44-2 applied to any persons trading crypto assets that were securities or government securities withinHowever, as the industry matured and the potential benefits of digital assets became more apparent, India began to adopt a more pragmatic approach.

The Indian government recognized the need to regulate the crypto market to protect investors and prevent illicit activities.This included measures such as mandatory KYC/AML requirements for crypto exchanges, taxation of crypto transactions, and regulations regarding the issuance and trading of digital assets. 2025 to 2025: Insiders, Outsiders and Experimenters in Crypto Regulation: Part 2At the same time, India also acknowledged the potential of blockchain technology to drive innovation in various sectors, including finance, healthcare, and agriculture.

The key challenge for India lies in striking a balance between fostering innovation and protecting investors.Overly restrictive regulations could stifle the growth of the crypto industry, while lax regulations could expose investors to undue risks. 2025 to 2025: Insiders, Outsiders and Experimenters in Crypto Regulation: Part 1Source: CointelegraphPublished on . . SERVICES. Consultancy;A well-calibrated regulatory framework is essential for unlocking the full potential of digital assets in India.

The Developing World: Crypto as a Tool for Financial Inclusion

Beyond China, Russia, and India, the developing world presents a diverse and often overlooked perspective on crypto regulation. Esta es la parte final de una serie de tres partes que cubre el panorama regulador de las criptomonedas en 2025 y piensa en las perspectivas para 2025. Las dos primeras partes cubrieron los Insiders o Conocedores de Europa, Am rica del Norte y la Cuenca del Pac fico, y las naciones Outsider o for neos como China, Rusia e India.In many developing countries, access to traditional financial services is limited, and cryptocurrencies offer a potential alternative for financial inclusion. From Switzerland and Malta to North Korea and Iran: Overview of experimental crypto regulations around the globe. This is the final part of a three-part series covering the regulatory landscape for cryptos in 2025 and thinking about the prospects for 2025.This is particularly true in countries with high levels of unbanked populations or those facing economic instability.

Cryptocurrencies can provide access to payment systems, remittances, and other financial services for individuals who are excluded from the traditional banking system.They can also facilitate cross-border transactions and reduce reliance on expensive intermediaries. Related: 2025 to 2025: Insiders, Outsiders and Experimenters in Crypto Regulation: Part 1. Crypto: The Outsiders double-edged sword. Led by China, the Outsiders shredded extreme poverty overIn some countries, cryptocurrencies have even been adopted as legal tender, demonstrating a strong belief in their potential to transform the financial landscape.

Examples of Crypto Adoption in the Developing World

• El Salvador: Famously adopted Bitcoin as legal tender in 2021, hoping to boost financial inclusion and attract foreign investment.While the experiment has faced challenges, it highlights the willingness of some developing countries to embrace unconventional approaches to crypto.
• Nigeria: Despite government restrictions, Nigeria has one of the highest rates of crypto adoption in the world.This is largely driven by the need for alternative payment systems and remittances, particularly among the unbanked population.
• Venezuela: Faced with hyperinflation and economic crisis, Venezuela launched its own cryptocurrency, the Petro, backed by the country's oil reserves. 2025 a 2025: Conocedores, for neos y experimentadores en la regulaci n de la criptomonedas: Parte 1 Especial A o Nuevo En 2025, fuimos testigos de c mo las regulaciones para el mundo de las criptomonedas dejaron el dominio de la congestionada pontificaci n legal y entraron en el reino de la geopol tica (como un pontificador legalWhile the Petro has not achieved widespread adoption, it reflects the potential for cryptocurrencies to be used as a tool for economic recovery in crisis-stricken countries.

These examples demonstrate the diverse ways in which developing countries are experimenting with crypto.While the challenges are significant, the potential benefits for financial inclusion and economic development are undeniable.

The Insiders' Response: Threats and Opportunities

The rise of the ""Outsiders"" in the crypto space presents both threats and opportunities for the ""Insiders"" – the U.S., Western Europe, and the Pacific Rim. From Switzerland and Malta to North Korea and Iran: Overview of experimental crypto regulations around the globe. This is the final part of a three-part series covering the regulatory landscape for cryptos in 2025 and thinking about the prospects for 2025. The first two parts covered the Insiders of Europe, North America and the Pacific MoreOn the one hand, the Outsiders' embrace of crypto could challenge the dominance of the traditional financial system and erode the influence of established institutions. An overview of the stances of the U.S, countries of Western Europe and the Pacific Rim toward crypto regulation. In 2025, we witnessed crypto regulations leave the domain of stuffy legal pontification and enter the realm of geopolitics (as a stuffy legal pontificator, I have mixed feelings about this).On the other hand, it could also create new opportunities for collaboration and innovation.

The ""Insiders"" face two primary threats from crypto:

1. Competing Institutions and Networks: Crypto enables the emergence of new financial institutions and networks that operate outside the control of traditional regulators. An overview of the stances of the U.S, countries of Western Europe and the Pacific Rim toward crypto regulation. In 2025, we witnessed crypto regulations leave the domain of stuffy legal pontification and enter the realm of geopolitics (as a stuffy legal pontificator, I have mixed feelings about this). We saw President Trump tweet about MoreThis could undermine the existing regulatory framework and create opportunities for illicit activities.
2. Erosion of Monetary Sovereignty: Widespread adoption of cryptocurrencies could reduce the demand for traditional fiat currencies and weaken the ability of central banks to control monetary policy.

However, the ""Insiders"" also recognize the potential benefits of collaborating with the ""Outsiders"" in the crypto space.This could involve sharing best practices for regulation, developing joint initiatives to combat illicit activities, and exploring the potential for interoperability between different crypto networks.

The SEC's Perspective: Crypto Assets as Securities

In the United States, the Securities and Exchange Commission (SEC) has taken a firm stance on the regulation of crypto assets, viewing many of them as securities. An overview of the stances of the U.S, countries of Western Europe and the Pacific Rim toward crypto regulation $ BTC $57,503 ; ETH $3,762 ; XRP $1.13 ; BCH $595 ;This means that they are subject to the same regulations as traditional stocks and bonds, including registration requirements and disclosure obligations. An overview of the stances of China, Russia, India and the developing world toward crypto regulation in 2025. This is the second part of a three-part series that covers the regulatory landscape for digital currencies in 2025 and looks at the prospects of 2025. While the first chapter in the series looked at theThe SEC's position is based on the belief that crypto assets can be used to raise capital and that investors need to be protected from fraud and manipulation.

Rules 3a5-4 and 3a44-2 applied to any persons trading crypto assets that were securities or government securities within the SEC's jurisdiction. This is the final part of a three-part series covering the regulatory landscape for cryptos in 2025 and thinking about the prospects for 2025. The first two parts covered the Insiders ofThis approach reflects the ""Insiders'"" desire to maintain control over the financial system and ensure that crypto assets are subject to the same regulatory standards as traditional assets.

The Future of Crypto Regulation: A Global Landscape

Looking ahead, the future of crypto regulation will likely be shaped by the ongoing interplay between the ""Insiders,"" the ""Outsiders,"" and the ""Experimenters."" The ""Experimenters,"" a group of nations ranging from Switzerland and Malta to North Korea and Iran, are exploring innovative approaches to crypto regulation, often driven by unique economic or geopolitical circumstances. Crypto regulation in Russia, China and India was very confusing in 2025. Should we expect more clarity in 2025 from these developing economiesPart 3 of this series will delve deeper into their strategies and the potential implications for the global crypto landscape.

The rise of the ""Outsiders"" in the crypto space is a significant development that cannot be ignored. Share this post. STABLECOIN DIGEST . stasis.substack.comTheir willingness to experiment with unconventional approaches to regulation could lead to new innovations and opportunities. 2025 to 2025: Insiders, Outsiders and Experimenters in Crypto Regulation, Part 3Source: CointelegraphPublished on . . SERVICES. Consultancy;However, it also presents challenges for the ""Insiders,"" who must find ways to adapt to the changing landscape and maintain control over the financial system.

Ultimately, the future of crypto regulation will depend on the ability of these different actors to collaborate and find common ground.A fragmented and inconsistent regulatory landscape could stifle innovation and create opportunities for illicit activities. 在2025年，我们目睹了加密货币法规脱离了闷热的法律责任领域，并进入了地缘政治领域（作为闷热的法律责任者，对此我有百感交集）。 我们看到特朗普总统在推特上发布了有关加密货币货A more harmonized and coordinated approach, on the other hand, could unlock the full potential of digital assets and create a more inclusive and efficient global financial system.

Conclusion: Key Takeaways and the Road Ahead

The regulatory landscape for cryptocurrencies in 2025 is a complex and dynamic arena, shaped by the interplay of ""Insiders,"" ""Outsiders,"" and ""Experimenters."" The ""Outsiders,"" led by countries like China, Russia, and India, represent a significant force in shaping the future of digital assets. Relacionado: 2025 a 2025: Conocedores, for neos y experimentadores en la regulaci n de la criptomonedas: Parte 1. Criptomonedas: La espada de doble filo de los Outsiders Liderados por China, los Outsiders destruyeron la pobreza extrema durante los ltimos 30 a os, pasando del 40% a nivel mundial a menos del 10% en la actualidad. DeTheir motivations range from seeking alternatives to the traditional financial system to fostering economic development and asserting their own sovereignty in the digital age.

Key takeaways from this analysis include:

• Geopolitics is now intertwined with crypto regulation. National interests and international power dynamics are playing a significant role in shaping regulatory approaches.
• The ""Outsiders"" are not a monolithic bloc. Their perspectives and strategies vary significantly, reflecting their unique economic and political circumstances.
• Financial inclusion is a key driver of crypto adoption in the developing world. Cryptocurrencies offer a potential alternative for individuals and businesses excluded from the traditional banking system.
• The ""Insiders"" face both threats and opportunities from the rise of the ""Outsiders."" They must adapt to the changing landscape and find ways to collaborate and compete effectively.

As we move forward, it is crucial to foster dialogue and collaboration among all stakeholders to create a regulatory framework that promotes innovation, protects investors, and prevents illicit activities.The future of crypto regulation will depend on our ability to navigate the complexities of this global landscape and find common ground for a more inclusive and efficient financial system. An overview of the stances of China, Russia, India and the developing world toward crypto regulation in 2025. This is the second part of a three-part series that covers the regulatory landscape for digital currencies in 2025 and looks at the prospects of 2025. While the first chapter in the series looked at the Insiders, MoreKeep an eye out for Part 3 of this series, where we'll delve into the innovative and often surprising approaches of the ""Experimenters"" in the crypto regulatory space.