PwC Predicts a New Global Crypto Order as Regulation Moves Into Full Enforcement
Crypto regulation is entering a decisive new era as governments worldwide move from drafting legislation to implementing comprehensive digital asset frameworks, according to PwC’s newly released Global Crypto Regulation Report.
The firm argues that countries with the most transparent and consistent rules will become the leading hubs for crypto innovation and institutional capital.
PwC’s findings suggest that the global landscape is shifting away from years of fragmented policymaking.
Instead, 2026 is shaping up to be a period defined by execution, cross-border cooperation, and a competitive push among jurisdictions to establish themselves as trusted digital asset markets.
Shift From Debate to Implementation
The report highlights a clear pivot: rather than regulation acting as a constraint, policymakers now see it as an enabler of responsible scale and market integrity. This evolving environment reflects a growing recognition that digital assets are becoming foundational to global finance.
Matt Blumenfeld, PwC’s global and U.S. head of digital assets, said the pace of collaboration between governments is accelerating, driving an uptick in institutional engagement. Regulation, he noted, is increasingly “reshaping markets” and laying the groundwork for safer innovation and interoperability across national financial systems.
In practical terms, this means crypto firms will operate under stricter compliance expectations, but with the benefit of clearer rules that could unlock new banking pathways, product offerings, and greater institutional participation.
Europe Leads With MiCA Rollout
The European Union continues to position itself as a regulatory frontrunner through the phased rollout of its Markets in Crypto-Assets (MiCA) framework.
MiCA requires rigorous authorization, reserve standards, and governance measures for market participants. Firms across the bloc are now adjusting to the new obligations, which will tighten further as additional phases take effect.
The EU is also evaluating a potential digital euro, setting it apart from the United States, where President Donald Trump has opposed the creation of a central bank digital currency. PwC notes that the EU’s stance reflects its long-term ambition to integrate digital assets into mainstream financial architecture.
United States Focuses on Stablecoin Payments
In the U.S., progress on comprehensive digital asset legislation remains uneven. The CLARITY Act—expected to establish a regulatory framework for stablecoins—has been delayed amid opposition from big banks concerned about competition from yield-bearing stablecoin products.
With CBDC discussions largely stalled, U.S. policymakers are concentrating instead on enhancing dollar-pegged cryptocurrency payments and strengthening the dollar’s role in the global economy through regulated stablecoins. PwC identifies this as the U.S.’s primary strategic focus for the year.
United Kingdom Prepares Major Regulatory Overhaul
The U.K. is gearing up for one of its most significant shifts in financial oversight. Crypto-asset activities are set to fall under the Financial Services and Markets Act (FSMA), placing digital asset firms within a full authorization regime similar to traditional financial institutions.
A key feature of the U.K.’s emerging model is dual oversight of payment stablecoins by the Financial Conduct Authority (FCA) and the Bank of England. This approach aims to balance innovation with systemic stability and enhanced investor protections.
Middle East and Switzerland Strengthen Their Frameworks
PwC also highlights the United Arab Emirates and Switzerland as jurisdictions solidifying their virtual asset regimes to attract global capital and cement their roles as crypto-friendly hubs. Both regions continue to refine their frameworks to enhance transparency, market integrity, and regulatory predictability.
Despite increasing regulatory demands, PwC emphasizes that the firms best positioned to thrive will be those that treat compliance and resilience as core strategic pillars. Michael Huertas, a partner at PwC Legal, noted that long-term winners will be companies that embed transparency and governance into their foundational operations.
With legislation advancing from draft to law at an unprecedented pace, 2026 may mark the long-awaited transition toward regulatory maturity—ushering in a more structured, collaborative, and institutionally supported global crypto ecosystem.
