"Europe has moved from drafting to enforcing crypto rules under MiCA, giving companies clear timelines, licensing paths and compliance milestones across all EU member states. The US still relies on a multi-agency, enforcement-led framework, with major questions about token classification and market structure waiting on new federal legislation. MiCA's single-license model allows crypto firms to operate across the EU after approval in one country, encouraging companies to base early expansion strategies in Europe."
"On one side, the European Union has moved from drafting rules to active enforcement. The Markets in Crypto-Assets Regulation (MiCA) has entered into force in phases. It already covers crypto asset service providers and market abuse, while the European Securities and Markets Authority (ESMA) aims to integrate its interim MiCA register into formal regulatory systems. On the other side, the regulatory framework in the US shows some progress but still lacks a single, full-fledged framework."
Europe has transitioned into active enforcement under the Markets in Crypto-Assets Regulation (MiCA), which is phasing into force and covers crypto asset service providers and market abuse. MiCA establishes a single-license model allowing firms approved in one member state to operate across the EU and sets clear timelines, licensing paths and compliance milestones. ESMA is working to integrate an interim MiCA register into formal regulatory systems. The United States retains a fragmented, enforcement-led environment with the SEC, CFTC, FinCEN and IRS splitting oversight and states imposing money-transmitter licensing. Unclear asset classification in the US increases caution on listings and staking, while MiCA reduces legal uncertainty despite higher compliance costs, prompting firms to prioritize European expansion for cross-border operations.
Read at Cointelegraph
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