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While the EU has been working on regulating digital assets since early discussions in 2020 and now leads with the Markets in Crypto-Assets Regulation (MiCA), the U.S. has avoided enacting specific crypto laws for years. Instead, it relied on applying existing statutes to the digital space.
Summary
- Three major bills mark a policy shift: The CLARITY Act defines token categories and lifecycle transitions; the GENIUS Act regulates stablecoin issuance; and the Anti-CBDC Act seeks to ban a U.S. central bank digital currency.
- U.S. vs. EU approaches: The EU’s MiCA offers a unified framework, while the U.S. remains fragmented across agencies — though the gap is narrowing as the SEC and other regulators start aligning policies.
- Momentum is building: With SEC approvals for Bitcoin and Ethereum ETPs and Nasdaq’s move toward tokenized securities, the U.S. is shifting from avoidance to active crypto integration — setting the stage for a more mature digital asset economy.
This “made room” for the crypto world to exist, but it was hardly easy. Uncertainty drove companies and individuals to more crypto-friendly jurisdictions. Under the Biden administration, regulatory pressure — commonly referred to as Operation Choke Point 2.0 — even discouraged banks from servicing the digital asset industry.
This year, the U.S. is suddenly everywhere in crypto news, making headlines. President Donald Trump made clear that digital finance had become a federal priority. Following this, three key bills landed in Congress: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. Together, they push the U.S. closer to a crypto framework that could resemble the EU’s recognition and categorization of digital assets.
