Virtual Assets (VAs) are increasingly being recognized as an important component of the global financial ecosystem, offering potential benefits for financial inclusion. However, their decentralized nature and associated risks — including consumer protection concerns, financial stability implications, and misuse in the context of illicit financial flows — demand effective regulatory frameworks.

This policy brief, which explores a range of regulatory approaches to VAs, highlighting the best practices from different jurisdictions to inform the development of comprehensive frameworks that balance financial inclusion with effective risk management.