While the creation of a global systemic regulatory framework is gathering steam, its success entirely depends on the level of cooperation and coordination. Bitcoin, for example, remains a finite asset. As government participation across the world dwindles in creating a regulatory framework, it will be important to ensure that similar levels of cooperation and coordination are guaranteed.
Furthermore, this will not be a one-time operation, as sustained coordination will help in gradual changes. For example, Country A may want to have insights or regulatory power on particular matters regarding Bitcoin usage, which may or may not be suitable for Country A. In these situations, in-depth dialogues will be imperative to find a middle ground.
Additionally, a global regulatory framework must offer equal opportunities to all countries and address the risks. Also, service providers within the domain would be required to be licensed similarly to traditional finance companies, so transactions, storage, and any similar activities could be clearly articulated.
The mechanism must also be well-planned to ensure user safety. While some experts project that this could destabilize the primary defining factor for Bitcoin, which is non-regulation, it seems to be assumptive at this point, given the world’s preparedness.