US and EU push forward landmark crypto regulation bills

The United States is intensifying lobbying around the proposed “Clarity Act,” a bill that would create a single national framework for cryptocurrencies. Crypto firms, law‑enforcement groups and a major banking association have each issued statements either supporting the legislation for its potential to fill regulatory gaps or warning that it may contain loopholes that could be exploited for money‑laundering. Industry leaders have sent a letter to Senate leadership urging passage of the bill, while critics caution that the proposal still leaves critical anti‑money‑laundering safeguards untested.

In Europe, the Markets in Crypto‑Assets regulation (MiCA) is being hailed as the most significant overhaul of the continent’s crypto market. MiCA requires crypto‑exchange platforms to obtain a single EU‑wide licence (CASP) and imposes strict rules on client‑fund protection, corporate governance, AML compliance and transparency. Platforms such as Binance face the prospect of having their licence applications rejected, which could limit or suspend services for European users. The regulation aims to boost investor confidence and bring the crypto sector in line with traditional financial standards, while also potentially reducing the number of operating exchanges across the EU.