It seems that we have reached a crossroads around how cryptocurrencies will be regulated in the future. American daycare dogs take a way, while their counterparts in the United Kingdom, Europe and Asia seem to accelerate in the other direction.
In the weeks following their entry into office, Trump has already set up plans to facilitate the way in which digital assets – including cryptocurrencies and stablecoins – are regulated in the United States. The latest is that the new DIA management has established a working group to revise how the crypto is governed, Trump should issue decrees that would reduce a regulatory examination of space and potentially promote the adoption of digital assets. Last week, he also decided to establish a strategic bitcoin reserve using tokens belonging to the government.
The potential for Trump’s second term to disrupt the implementation of Basel III at the end of the game in the United States could also have great-reaching consequences. The framework was to include standardized disclosure for exhibitions to Banks cryptocurrencies, but the prospect of its introduction in January 2026 now seems doubtful. According to the media, the regulators appointed by Trump will examine the American proposals of “end of game” of Basel III, which can delete the planned changes.
Authorities outside the United States, however, seem to adopt the opposite approach to regulations, introducing stricter requirements for companies issuing and exchanging digital assets. Simply take the recent mica implementation in the EU, for example. Presented as Crypto’s response to MIFID’s requirements, the settlement provides a uniform legal framework for the issue of cryptocurrency and the provision of related services. It also forces issuers and crypto-active service providers to disclose sustainability measures, potentially aware of retail investors concerning the energy consumption of their investments. This can bring increased transparency to space, as well as more robust protection of investors.
In addition, almost simultaneously, the Financial Conduct Authority of the United Kingdom announced last year a large new regulatory framework for digital assets, aimed at giving more clarity to British companies operating in the sector. More distant regulators are also coupled with the regulation of digital assets. The Securities and Futures Commission of Hong Kong announced that it would expand its workforce in 2025 to add more positions dedicated to the “ regulation of virtual assets ”, with an increase of 7.2% of its budget also largely due to the emphasis on cryptographic regulations. Meanwhile, the Crypto-Asset reporting framework is a global initiative developed by the OECD to establish standardized declaration requirements for digital currency transactions, aimed at improving tax transparency and fighting tax evasion in space.
For global financial institutions that seek to set up in the digital asset market, the growing divergence between the main markets of the markets will ask difficult and urgent questions. How should a company operate in several jurisdictions to tackle compliance, for example? What about the unique tax obligations of each territory? Should each geographic region work in isolation, taking into account these nuances?
In the midst of such complexity, the first most important step must take into account is to ensure that they have a complete and real -time understanding of the global regulatory landscape as it evolves. It ultimately depends on the data. Just as meteorologists require a huge amount of data to determine forecasts, companies will also need a multitude of sophisticated data to decide the best way to navigate their regulatory requirements on each market.
Indeed, at this regulatory crossroads of Crypto, the data represent the director of global companies. Those who have access to the most advanced data services will be better equipped to open the way, while those without escaped in a compliance labyrinth.
By Stefano Chierici, senior product manager, Financial Information, based in Zurich Six
