Europe and the US: Fight for Leadership in the Cryptocurrency World
Date: 2025-06-24 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Since the beginning of 2025, the activity of European users on crypto platforms has increased significantly, which was facilitated by the implementation of the MiCA regulation. While the US is seeing a decline in interest in crypto transactions, Europe benefits from clear rules of the game. Konstantin Vasilenko from Paybis noted that EU investors began to make larger and more thoughtful deals. According to him, the company's transaction volumes in Europe increased by 70% with an unchanged number of transactions, which indicates an increase in the amount of investment.
Similar trends are recorded by other platforms: the share of retail traders on Coinbase has fallen from 40% to 18% in recent years, and on Robinhood, the volume of crypto transactions decreased by a third in the first quarter of 2025. At the same time, companies such as Coinbase, OKX, and Gemini have already received licenses in the EU to take advantage of the favorable regulatory environment.
The main limiting factor in the US remains the lack of uniform legislation for the crypto industry. Despite President Donald Trump's statements about supporting the industry, the country still faces a fragmented licensing system and pressure from the SEC. Vasilenko believes that only the adoption of the GENIUS Act will help the US regain its position, providing retail investors with the same opportunities that MiCA gave to Europeans.
At the same time, analysts do not see a mass exodus of crypto companies from the US. Alexander Peresichan from Tehnobit emphasizes that America is working to create an attractive environment for business, and interest in the EU is caused rather by the rapid actions of local regulators. In his opinion, the US remains a priority for crypto projects, especially given Trump's support.
Ryan Lee from Bitget Research also noted that it is more about diversification than capital migration. The EU is becoming a global crypto hub thanks to MiCA, but it is not displacing the US from its leading position. Lee believes that it is not entirely correct to compare MiCA and the GENIUS Act: the former regulates the entire market, while the latter is focused on stablecoins and strengthening the dollar.
Critics of the European approach, such as Vladimir Cohen, argue that the strict regulation of MiCA is holding back innovation, while the US, with its more flexible regulations, is able to attract more tech companies. He is confident that the EU is trying to protect the interests of consumers and large players, but this limits the development of new ideas. Cohen predicts that with the adoption of the new law in the US, small Web3 companies will look for opportunities in the American market.
