The future of international cryptocurrency regulation: which measures will be tightened first, and who will be at the highest risk

This report analyzes the direction of development of international regulation of cryptocurrencies and related financial instruments in the medium term. Drawing on FATF documents, the practice of EU and U.S. regulators, materials from international organizations, and observable enforcement trends, it identifies the key areas where control is likely to be tightened. Particular attention is paid to the segments of the crypto market most likely to face priority pressure: stablecoins, OTC operations, non-custodial services, infrastructure intermediaries, and individuals performing facilitator functions. The report assesses the impact of these processes on users, businesses, and transnational capital flows.