With the promulgation of the law on engineering and the adoption of the Clarity Act through the House of Representatives of the United States, the United States has reversed its hostile approach to the digital asset ecosystem. While the Biden administration has spent the last four years injecting uncertainty for users and innovators of digital assets, other countries have continued different approaches. This reality was apparent because I was traveling with bipartite members of the Chamber of Financial Services Commission and the Agriculture Committee in Latin America and Europe for a series of digital asset monitoring meetings.
During our discussions with the private sector and the leaders of government policy, I had the opportunity to see first -hand how digital assets are used and evolving worldwide. The point to remember is clear: Latin America, Europe and the United States each represent a separate path in the development of digital asset markets-and underline together why the United States must adopt a regulatory framework for digital asset markets.
Through Latin America, we have seen cases of use of digital assets of the first -hand in the real economy. In South America and Central America, people lead digital assets on a large scale for payments, sending funds and savings. Last year, the region’s digital asset markets were estimated at $ 415 billion, with 46% of investments flowing mainly in the stablecoins lengled in US dollars.
Argentina stands out as a pioneer of digital assets in Latin America with stabs stages offering a value -resistant value store while Milei administration is starting to formalize their approach to a regulatory framework for digital assets. Paraguay’s hydroelectricity has made it a center for Bitcoin extraction, while Mexico advances fintech and cryptographic surveillance in parallel with strong consumer demand. In addition, Peru has incorporated digital asset exchanges in its anti-whiteness and fight against terrorism funding regime and reported plans to integrate digital assets in its national tax framework. In short, Latin America highlights convincing use cases of digital assets: resilience against inflation, low -cost transfers and financial inclusion.
Our members also met with European central bankers, financial regulators and private sector innovators. In 2023, the European Union (EU) Past the markets in crypto-active (Mica) in law which created a complete regulatory framework around the digital asset ecosystem. Mica seeks to establish the rules of the road for the MONHONE tokens, the tokens referenced with assets, the service providers and the stablecoin issuers through the entire EU. The EU market regulator, ESMA, and European banking authority are coordinating with EU member states to ensure that the regulation of digital assets is harmonized.
Since the EU was one step ahead taking into account its rules and regulations on digital assets, it was insightful to hear their experience in the development of these regulations while the United States begins a similar business. In our discussions with European digital essettes companies, it was clear that the implementation is essential to ensure a functional framework for the digital asset ecosystem. We must ensure that the regulations did not balance small innovative businesses, creating a landscape where only large institutions are able to successfully comply in the legal framework.
Although the United States has the deepest liquidity on digital asset markets and shelters some of the largest issuers and exchanges, we still have no complete market structure for digital assets. The Act on Engineering, signed by President Trump on July 18, 2025, was the first stage of the United States to provide regulatory clarity to digital assets. By adopting a framework for the payment of payment payment, the Act on Engineering will stimulate the creation of a modern digital payment system in the United States.
However, it is only a piece of the puzzle. Without a market structure framework which allows innovation while protecting consumers and investors, the ecosystem of American digital assets will not prosperate, and we risk giving grounds to rapid adoption in Latin America and the harmonized regulatory regulatory of Europe. In July, the Chamber adopted the Bipartite clarity law by a vote of 294-134. The moment is now. We must keep up with the rhythm of the rest of the globe by putting the market structure of digital assets by the end of the year.
