Current Regulatory Context

The social networking and blockchain technology sectors operate in a diverse and constantly changing regulatory environment:

• European region: The General Data Protection Regulation (GDPR) establishes strict requirements related to personal data processing, user consent, and privacy. Additionally, new regulations such as the Digital Services Act (DSA) require social platforms to take greater responsibility for user-generated content while increasing transparency in recommendation algorithms.

• North American region: The United States adopts a more decentralized approach, with different regulatory systems at federal and state levels. The Federal Trade Commission (FTC) has broad authority in protecting consumer privacy. Meanwhile, states like California have enacted their own laws, including CCPA and CPRA, to strengthen user control over personal data.

• Asia-Pacific region: Countries in this region have different legal approaches. Some countries, like Singapore, have established relatively clear legal frameworks for blockchain and cryptocurrency, while many others are still in the policy formation process. Nevertheless, personal data protection is increasingly becoming a common priority, with GDPR-like regulations being implemented in Japan, South Korea, and many other countries.