Regulation of Cryptocurrencies in BRICS: New Approaches and Examples

The regulation of cryptocurrencies in BRICS is becoming an important topic against the backdrop of at least $154 billion in funds related to criminal activity passing through digital assets in 2025, and 1.4 billion people worldwide lacking bank accounts. The new issue of the BRICS+ New Economy & Legal Infrastructure Center is dedicated to balancing market development with the protection of its participants. Experts discuss how states can control the cryptocurrency sector without completely banning digital assets. In South Africa, crypto assets have been classified as financial products, allowing companies to be licensed without a separate law. Dubai has created VARA — the world's first independent authority for regulating virtual assets, which operates through dialogue with market participants. Participants in the issue emphasize the importance of clear requirements for the cryptocurrency market for Global South countries, which helps reduce risks for users and the market without closing access to new financial instruments. This issue is part of the international cycle of materials from the BRICS+ New Economy & Legal Infrastructure Center.

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