A European Central Bank (ECB) The manager says that the American honey and non-bank financing embrace could turn against him.
“The United States may sin through negligence”, ” François Villeroy de Galhausaid a member of the Board of the Bank of Directors, in a interview With French Weekly La Tribune Didance on Saturday March 15.
“Financial crises often come from the United States and have spread to the rest of the world. By encouraging cryptographic assets and Non -banking financingThe US administration hits the seeds of future upheavals. »»
The American government’s attitude towards cryptocurrency has changed under President Donald Trump. Trump defended digital Assets according to their office last summer and have since pushed to make America “Crypto capital of the world “ by calling for the creation of a strategic bitcoin Reserve
In the meantime, the Commission of securities (Dry) seems to be backwards Its regulatory repression of the cryptography sector, having rejected several cases against cryptographic platforms since the inauguration of Trump.
As Pymnts recently wrote, this change has turned the dynamics between America and Europe upset in the way they approach Crypto.
“The initial contrast between the Rules -based approach In cryptocurrency in the European Union and the law enforcement strategy in the United States has been supposed to shape the trajectory of the global cryptography industry, “said this report.
StillEU structured Crypto-active markets regulations (Mica) Political framework, designed for harmonization The regulatory landscape fragmented in the 27 EU member states, is already in place and continues to guide some of the largest cryptographic companies in one of the largest economic regions in the world.
“Mica applications and its endemic speedbumps could contain many lessons for a possible American regulatory environment,” wrote Pymnt.
Since Mica’s approval in 2023 – the rule is be implemented In phases – Market players have rushed to comply with its provisions. Crypto exchanges, stable transmitters And Portfolios suppliers are now faced with strict license requirements, capital reserve standards And Clear consumer protection rules.
Although the mica is designed to rationalize crypto operations, it sets obstacles for existing virtual asset service providers. All the basins who were Registered in the EU before 2025, you must comply with the requirements of the mica this year.
“The predictions suggest that around 75% of these Vaspes can find it difficult to comply with new standards. Factors such as the size of the company, the costs of conformity And The requirements contribute to this potential contraction, ”wrote Pymnts.
“For example, many recorded vasps are small businesses that may lack resources to meet rigorous Mica demands, including substantial share capital requirements and full compliance executives.”
