The European Union (EU) is intensifying its regulatory framework for cryptocurrencies with measures such as the Transfer of Funds Regulation (TFR), Markets in Crypto-Assets Regulation (MiCA), and the Travel Rule, according to Georg Brameshuber, a crypto advisor. Meanwhile, the United States is concentrating on stablecoins, decentralized finance (DeFi), and Bitcoin exchange-traded funds (ETFs). Brameshuber shared these insights in a February 15 post on X.
“The EU is creating more and more rules: TFR, MiCA, Travel Rule,” said Brameshuber. “Meanwhile in the US right now: Pushing stablecoins, More free DeFi, Bitcoin ETFs.”
According to CryptoSlate, the Trump administration’s crypto working group is evaluating the establishment of a U.S. Bitcoin reserve and crafting regulations for stablecoins and digital assets. This group, led by David Sacks, collaborates with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to define oversight responsibilities. The Clarity for Payment Stablecoins Act of 2024 proposes guidelines for stablecoin issuance and reserve requirements. Additionally, the SEC has initiated a crypto task force under Commissioner Hester Peirce to tackle regulatory challenges associated with digital assets.
DLA Piper reports that MiCA mandates Crypto Asset Service Providers (CASPs) to adhere to prudential standards, ensuring competent management and robust internal controls. The TFR, released in June 2023, extends anti-money laundering measures to cryptocurrency transfers by requiring detailed information about originators and beneficiaries. It aligns with Financial Action Task Force (FATF) guidelines and incorporates CASPs into a unified EU regulatory framework under MiCA, eliminating redundant registration requirements.
Marina Markezic, director and co-founder of the European Crypto Initiative (EUCI), highlighted potential challenges posed by new regulations under MiCA and anti-money laundering laws. She indicated that compliance obligations could make developing certain crypto products “riskier.” While these laws have been officially adopted, she noted that not all are perceived as “legitimate” by the crypto community due to concerns over their impact on industry growth innovation and decentralized principles.
Georg Brameshuber is also recognized as the co-founder of Validvent and serves as a board member of the Digital Asset Association Austria (DAAA). He holds credentials as a certified tax advisor and Web3 entrepreneur with five years of experience in researching and teaching crypto economics at the University of Vienna. Brameshuber provides advisory services on crypto tax matters and consulting for Web3 startups, according to his LinkedIn profile.
