When the US and Europe Stand at the Fork in the Road of Crypto Regulation: Open Experimentation vs. Cautious Sealing
The article examines the divergent regulatory approaches to cryptocurrency in the United States and the European Union. It argues that the U.S. is adopting a more open, pragmatic, and pro-innovation stance, driven by a shift in political leadership and a recognition of crypto's economic potential, such as stablecoins becoming major buyers of U.S. Treasuries. Key U.S. developments include the passage of the GENIUS Act for stablecoins and the repeal of restrictive accounting rules.
In contrast, the EU's Markets in Crypto-Assets (MiCA) regulation is portrayed as overly complex, bureaucratic, and risk-averse. It imposes bank-like compliance costs on startups, effectively bans non-euro stablecoins, and creates a significant barrier to entry, stifling innovation. The author suggests this will push developers and founders to more favorable jurisdictions like Switzerland and the UAE, while Europe risks becoming a "financial museum."
The piece concludes that clear, comprehensive regulation is urgently needed to allow the industry to mature, protect investors, and enable institutional capital influx, with the U.S. currently leading this transition.
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