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FollowCryptocurrency regulation in the United States, European Union, and China
MiCA supervision stays in rollout mode as ESMA updates the register and France issues more licenses
Key takeaways
- The three jurisdictions are diverging further: the EU is operationalizing MiCA, the U.S. is still fighting over the rulebook, and China is extending an already prohibitive stance.
- These decisions shape where crypto firms can get licensed, how tokenized securities may trade, and which activities remain categorically off-limits.
- The next few months matter because EU transition deadlines, U.S. exemption design, and Chinese enforcement scope will determine cross-border compliance costs and market access.
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