Regulatory policy changes in different regions have varying impacts on local cryptocurrency markets. In some areas, strict regulations such as bans or heavy taxes may lead to a sharp decline in trading volume and prices as investors shy away. In contrast, regions with more lenient or favorable regulations might attract more investment, driving up prices and increasing market activity. For example, some countries' recognition of crypto as legal tender has boosted local market confidence, while others' crackdowns have caused significant market turmoil.