Donald Trump’s crypto-friendly America is stealing Europe’s thunder, and it’s not even subtle. While the European Union spent years crafting its shiny new Markets in Crypto-Assets Regulation (MiCA), Trump came in swinging with promises to make the U.S. “the crypto capital of the planet.”
The result? Crypto giants like Binance are dumping Europe and packing their bags for the States. Bitcoin’s insane rally to $108,000 this year—double what it was last year—is no coincidence. Trump’s win and his plans to overhaul U.S. crypto regulations have pumped confidence back into the market.
Retail and institutional investors are betting on a White House that actually wants crypto to thrive. MiCA, meanwhile, looks like an over-engineered relic that no one has time for.
MiCA faces trouble as costs pile up
MiCA is supposed to clean up the crypto mess left by disasters like FTX, Genesis, and Celsius. It forces companies offering services like trading and custody to get authorized in the EU. But it comes with a fat price tag.
Even Tether, the world’s biggest stablecoin, won’t comply with MiCA and is getting kicked off regulated EU exchanges. Some companies, like Coinbase and Circle, have managed to secure their licenses, though it’s clear the EU is bleeding talent.
Meanwhile, Trump is rolling out the red carpet. He’s appointing pro-crypto folks like Paul Atkins as SEC chair and David Sacks as a White House crypto czar. “We’re going to do something great with crypto,” Trump said recently.
Companies that fled U.S. regulations under Biden are now scrambling to come back. Binance US’s interim CEO, Norman Reed, even teased a return of dollar services in 2025, saying, “It is not a matter of if, but when.”
Trump’s big crypto plans crush EU hopes
Trump’s administration also wants to set up a national Bitcoin reserve, pouring $21 billion annually into the plan over five years. This would make the U.S. a global leader in Bitcoin holdings, leaving Europe to play catch-up.
The Bitcoin Policy Institute has been screaming about this for years, and now it looks like Trump is the first to actually listen. Access to banking is also on Trump’s to-do list. His administration plans to order banks to provide services to crypto companies, reversing the hostile stance seen under Biden.
This means no more shutting out crypto firms just because they’re crypto. Industry insiders are betting this will bring a flood of new investments into the U.S. market.
While Europe fiddles with MiCA, Trump’s team is drafting new principles for agencies like the SEC and the Commodity Futures Trading Commission (CFTC). The goal is to create a system that actually works for businesses, unlike the restrictive measures slapped down during Biden’s term.
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