ক্রিপ্টো নিয়ন্ত্রণের মানচিত্র

বড়ো নিয়ন্ত্‍রণগত වহি‌ল‌য‌ত

আমি MIT-এ Lab-থেকে Dubai-sandbox-পয‌ন্‍ত‌ভাব­য­ভাগ­ধ­ও­অ​ভ​​গ 5 বছ‌र ধ‌ম­গ⁡‍

dhārma: 20টি অত‌য­গ্‍য¬¬¬¬¬¬¬¬¬ ¬¬ ¬ ¬ ¬ ¬ ¬ ¬

আমি MIT-lab-থেকे Dubai-sandbox-porjektor-bhitor-ta bina kono global rulebook-e—shudhu 20টি different jurisdiction er ekta jokhon e kichu. Ektu time a Swiss-e token launch korun; arki a platform Saudi Arabia-e freeze hoise Sharia-compliant finance er violation er karone.

Eto policy-na—geopolitics er code-dharay chhutir.

Ei Moment-e Keno Important?

আমি bluntness ki: crypto e building or investing korar ager jehetu amar assets legally recognized kothay ta janar na, to amar portfolio-ta gambling er moto. USA-e federal law nai—kintu NYDFS BitLicense ek din-a startup shut down kore dite pare. Ar EU-miCA now live—stablecoin e full reserve backing and travel rules jekhane har transaction trace korbe.

Aro vabe… Tether (USDT) Europe theke Coinbase and Binance-theka axed hoye gese MiCA’s strict asset-backed criteria er karone.

Eto enforcement-na—eto market Darwinism.

Hong Kong vs China: Ek Island-e Dui Duniya

Amár favorite paradox: mainland China crypto trading ban—for criminal prosecution. Kintu Hong Kong? Bitcoin and Ethereum ETFs 2024-ma launch hoye geche—and SFC licenses exchanges jekhane retail investor der service korbe.

Keno? Hong Kong Asia’s DeFi hub hote chahe—not China’s digital black hole.

Ekta peninsula e do version of reality. Ar this split ke karone capital flows northward through regulated gateways—exactly what Beijing wants to avoid… but can’t stop.

Middle East Shuffle: Ban theke Blueprint?

Saudi Arabia once called crypto haram—but today they’re running CBDC pilots with UAE under ‘Aber’ and joined mBridge as part of their Vision 2030 push.

Meanwhile, Dubai created VARA—the most aggressive virtual asset regulator outside Europe—with mandatory monthly audits for leveraged trading products… only for institutions.

And Bahrain? It has a full regulatory module with four license tiers based on risk exposure. You don’t get permission—you earn it through capital requirements and stress tests.

The region isn’t banning innovation—it’s weaponizing regulation as competitive advantage.

India & Indonesia: Slow Burn Transformations?

India still hasn’t passed any comprehensive law—but FSC recently announced new VASP registration rules under anti-money laundering frameworks. No free-for-all here; compliance comes first.

Indonesia made an even bigger move: shifting oversight from Bappebti (commodity futures) to OJK (financial services). That means stricter capital rules—1 trillion IDR minimum—and full alignment with FATF standards starting January 2025.

does this mean Indonesia will become Southeast Asia’s financial gateway for compliant Web3 startups? Possibly—but only if they actually enforce it beyond paper promises.

The Real Problem Isn’t Risk—It’s Fragmentation

The biggest threat isn’t scams or rug pulls—it’s regulatory arbitrage at scale. A startup can register in Malta under MiCA rules then operate globally while avoiding harsher scrutiny elsewhere. Or use Singapore as a launchpad before moving operations offshore after DTSP reforms tightened licensing criteria last year.

We’re not seeing convergence—we’re seeing strategic evasion loops across borders that favor deep-pocketed players over solo devs or small studios trying to innovate responsibly. crypto shouldn’t be a game where geography decides legality—or survival.