Crypto regulatory frameworks need to coordinated internationally, but tweaked to meet local differences, legal experts said at a panel at Consensus 2023 on Friday.

"It's not good to put crypto all in the same basket and look at it in a vacuum," said Marianne Bechara, senior counsel at the International Monetary Fund.

Regulators worldwide have been working for several years to determine how best to coordinate international crypto regulation. Earlier this month, the European Parliament approved the European Union’s crypto-assets framework, the Markets in Crypto-Assets Regulation (MiCA), which some observers have said could form a template for other jurisdictions. Even so, each country or region has issues that are area specific, the panelists said.

Edited by Sheldon Reback.