[36] Crypto-asset conglomerates provide financial functions across multiple jurisdictions and operate through a network of global affiliates. Some are headquartered in unregulated off-shore regions or have no known headquarters at all. In addition, it is difficult to enforce rights against a specific person in a decentralized system without appropriate governance structures.
The introduction of the euro has created a single currency area which approximately matches the United States in terms of economic size, is the world’s largest with respect to its share in total world exports and ranks second in terms of the size of its capital markets.