Under the second Trump Administration, the United States and the European Union have taken sharply different approaches to regulating cryptocurrency. With the E.U. implementing the Markets in Crypto-Assets Regulation (MiCAR) and the U.S. rejecting CBDCs in favor of a market-driven, deregulated framework, the divide in general financial oversight continues to widen. Volume XLVIII staff editor Chris O'Hara examines these contrasting regulatory strategies, their implications for global markets, and whether any future policy convergence is possible.
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