As Trump seeks to turn the US into a crypto haven, the EU’s MiCA regulation provides a robust framework that could secure Europe’s leadership in the crypto space.
Opinion by: Mateusz Kara, co-founder and CEO of Ari10
President Donald Trump’s return to office has signaled a new era for crypto in the US, but the country has much to do to catch up with Europe.
Trump has outlined grand plans and made sweeping promises to transform the US into a crypto haven. At this year’s World Economic Forum in Davos, Trump pledged to make the US the “world capital” of crypto, with a wave of pro-crypto policies, investments and regulatory clarity set to follow.
Crypto is becoming an increasingly strategically important industry and is expected to grow to $38.6 billion by 2030. A fight to attract crypto market share is on the horizon, and while Trump shores up the US regulatory arsenal to compete, the EU has quietly been implementing its own regulatory framework: Markets in Crypto-Assets Regulation (MiCA).
Equipped with MiCA, the EU benefits from a significant head start and is set to lead the industry in the long term, losing a few battles to Trump’s spotlight — but ultimately winning the war.
Trump’s cult of personality must be backed by policy action
Trump’s cult of personality, developed through grand gestures and big, often vague promises, has given the US a spotlight as a crypto leader. His star power is drawing attention and hype from leading crypto entrepreneurs. Yet, there are doubts about whether Trump will successfully turn his pro-crypto rhetoric into action.
Early indications are that key legislation to encourage innovation and the growth of the US crypto industry is underway. What’s lacking right now is a holistic framework that would provide clarity for businesses across the blockchain space.
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Lunam Points