Internal Revenue Service (IRS) - United States

In the United States, the IRS is one of the key agencies in crypto regulation. It considers crypto as property for tax purposes, which means they're subject to capital gains tax when bought, sold, or traded. The IRS also requires individuals to report crypto holdings on their tax returns. This makes following the rules very important for U.S. citizens.

Securities and Exchange Commission (SEC) - United States

The SEC's primary goal is to protect investors, they also make sure that offerings and trading platforms comply with federal securities laws.

European Securities and Markets Authority (ESMA) - EU

ESMA is the EU’s financial markets regulator and supervisor. ESMA was founded as a direct result of the recommendations of the 2009 de Larosière report which called for the establishment of a European System of Financial Supervision as a decentralised network. It began operations, under its Founding Regulation on 1 January 2011, replacing the Committee of European Securities Regulators which was a network of NCAs which promoted consistent supervision across the EU and provided advice to the European Commission. The EU's MiCA (Markets in Crypto-Assets) proposal is a significant step towards creating a standard for crypto regulations within the EU.

Financial Conduct Authority (FCA) - United Kingdom

As the UK's financial regulatory body, the FCA oversees crypto activities, aiming to prevent financial crime and protect consumers. It also enforces anti-money laundering (AML) and Know Your Customer (KYC) regulations for crypto companies operating within the UK.

People's Bank of China (PBOC) - China

China has been a pioneer in central bank digital currencies (CBDCs), with the PBOC leading the charge. While China has banned ICOs and crypto exchanges, it is working on its digital yuan, known as the Digital Currency Electronic Payment (DCEP) system.

Financial Services Agency (FSA) - Japan

Japan is known as one of the most crypto-friendly nations in Asia. The FSA regulates crypto exchanges. It also has a licensing system in place to ensure compliance with AML and buyer protection measures.

Financial Services Commission (FSC) - South Korea

South Korea has also embraced crypto but with strict regulations. The FSC oversees crypto exchanges and complies with robust AML and KYC requirements. It aims to strike a balance between driving crypto growth and protecting buyers.

National Banks as Key Agencies in Crypto Regulation

Many national central banks are considering the development of CBDCs. These initiatives often involve working together closely with other regulatory bodies and government agencies to ensure the smooth integration of digital currencies into the current financial system.

Other Important Key Agencies in Crypto Regulation

Numerous other bodies across the globe also play roles in regulating crypto and blockchain technology. These may include:

• Financial Crimes Enforcement Network (FinCEN) in the United States, focusing on AML and suspicious activity reporting.
• Commodity Futures Trading Commission (CFTC) in the United States, regulating crypto derivatives and futures.
• Australian Securities and Investments Commission (ASIC) in Australia, overseeing crypto exchanges and ICOs.
• Swiss Financial Market Supervisory Authority (FINMA) in Switzerland, offering a clear regulatory framework for crypto startups.