President Donald Trump's return marks a new era for crypto in the US, though the country needs to catch up with Europe.
The Challenge for the US: Attracting Crypto Investments
At the World Economic Forum in Davos, Donald Trump pledged to make the US the 'world capital' of crypto, sparking a wave of pro-crypto policies and investments. Despite the appealing promises, critics are skeptical about the successful implementation, stressing the need for a comprehensive legal framework.
Policy Execution and Key Appointments
Trump has made several appointments, including Paul Atkins as chair of the SEC and Commissioner Hester Peirce to lead a dedicated crypto task force. Early actions include an order to create a 'national digital asset stockpile.' However, to compete with the EU, more comprehensive regulation is necessary.
MiCA's Superiority in the EU
The EU has developed a comprehensive MiCA framework covering all crypto assets. MiCA provides stability and transparency, despite risks for startups. Some companies might relocate to the US, but analysts believe the impact will be limited. MiCA is set to foster innovation in the crypto industry and enhance the EU's position in the long term.
The US aims to catch up with the EU in the crypto race, requiring deep policy choices. Short-term gains from notoriety must be backed by solid regulations.
