Crypto exchange regulation by country

FCA

Since 8 October 2023 qualifying cryptoassets fall under the UK's financial-promotions regime, which applies to any firm marketing to UK consumers regardless of where it is based. The FCA prohibits referral and 'refer-a-friend' incentives in crypto promotions, so a standard affiliate referral incentive is non-compliant for UK retail consumers. Promotions must be fair, clear and not misleading, carry the prescribed risk warning and link to a risk summary. A new cryptoasset regime (the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, made 4 February 2026) is expected to come into force on 25 October 2027. We therefore show no monetised listings in the UK; this remains an information-only regulatory guide.

ESMA / BaFin

Germany falls under the EU's Markets in Crypto-Assets Regulation (MiCA), which applied from 30 December 2024 with the transitional grandfathering period ending 1 July 2026. A CASP authorisation from one EU/EEA state passports across the bloc, but national advertising rules still apply on top. Crypto promotion in the EU is restricted, not free, so we show no monetised listings here and keep this as an information-only regulatory guide.

AMF / ESMA

France is governed by EU MiCA plus the AMF's own marketing rules for crypto-asset advertising. Even a CASP-authorised exchange must comply with national advertising restrictions, and some products are restricted for French clients under exchanges' own terms. Promotion is restricted, so we show no monetised listings here and keep this as an information-only regulatory guide.

CNMV / ESMA

Spain is governed by EU MiCA plus the CNMV's crypto-asset advertising rules, which impose specific requirements on mass-market crypto promotions and influencer marketing. Promotion is restricted, so we show no monetised listings here and keep this as an information-only regulatory guide.

ASIC

Australia is in a tightening transition. The Corporations Amendment (Digital Assets Framework) Bill 2025 passed on 1 April 2026 and received Royal Assent on 8 April 2026, commencing 9 April 2027; it will require digital-asset platforms to hold an AFSL from ASIC. ASIC's INFO 225 class no-action position expires June 2026. Crypto promotion is legal but advertising must not be misleading and is increasingly licence-gated, so we treat Australia as restricted (cautious) and show no monetised listings yet; this is an information-only regulatory guide.

CSA

Canada regulates crypto trading platforms through provincial securities regulators under the CSA umbrella, with registration requirements and product restrictions that vary by province. Several major exchanges restrict products for Canadian users under their own terms. We treat Canada as restricted and show no monetised listings; this is an information-only regulatory guide.

SEC / CFTC

The United States regulates crypto through an overlapping federal (SEC, CFTC) and state-by-state patchwork, and many global exchanges restrict or bar US users under their own terms. Given the high-risk, fragmented promotion picture we treat the US as restricted and show no monetised listings; this is an information-only regulatory guide.

VARA

Dubai operates a dedicated virtual-asset licensing regime under VARA, alongside ADGM in Abu Dhabi — one of the more developed and permissive frameworks for licensed providers. Crypto promotion is available subject to licensing, but you must still verify that a specific exchange is authorised to serve UAE clients before relying on it. We may feature monetised listings here only once a program is joined and an exchange's UAE availability is confirmed; until then this remains an honest regulatory guide.

MAS

Singapore licenses digital-payment-token services under the Payment Services Act, administered by MAS — a strict but legal framework, with MAS restricting public marketing of crypto services to retail consumers. Crypto promotion is available subject to those rules; verify that a specific exchange holds the relevant MAS licence before relying on it. We may feature monetised listings here only once a program is joined and availability is confirmed; until then this remains an honest regulatory guide.

BCB / CVM

Brazil has a maturing legal framework for virtual-asset service providers, with the Banco Central do Brasil developing the supervisory regime under the country's crypto law. The market is comparatively permissive and crypto promotion is available, but you should verify a specific exchange's local standing before relying on it. We may feature monetised listings here only once a program is joined and availability is confirmed; until then this remains an honest regulatory guide.