Europe is ‘Eating America’s Lunch’: U.S. Held Back by Bitcoin ETF Paralysis - Decrypt


18 Sep 2023 1:10 AM

"Europe is probably a bit ahead of the game,” says Lars Christensen, CEO of Seier Capital in Switzerland. "The U.S. still has work to do.”...

  • Europe has been more welcoming to digital assets compared to the United States.
  • Europe launched its first Bitcoin spot ETF and implemented the Markets in Crypto Assets (MiCA) framework, providing legal clarity for digital asset companies.
  • The United States has been slow in approving spot ETF applications and has continued its crackdown on crypto exchanges.
  • Europe has surpassed the United States as a springboard for digital asset startups and has seen an increase in venture capital investment.
  • The inversion of roles between Europe and the United States is evident, with Europe leading in the race for a Bitcoin spot ETF.
  • The U.S. regulatory system is more vague and flexible, leading to challenges and turf wars between agencies.
  • The lack of formal rules and definitions for digital assets in the U.S. has caused companies to lobby Congress for regulatory clarity.

The article highlights Europe's progress and advantages in the digital asset space compared to the United States. It suggests that Europe is surging ahead while the U.S. lags behind in terms of regulatory clarity and market developments. The sentiment is generally positive towards Europe and critical of the U.S. regulatory system.

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You May Ask

What was the recent development in Europe's digital asset market?How has the United States regulatory environment affected Bitcoin markets?What factors have contributed to Europe's advancement in the digital asset sector?How does the U.S. regulatory system differ from Europe's in terms of approach and challenges?How have companies in the U.S. responded to the lack of regulatory clarity?

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