European Union to Adopt Crypto Regulation Strategy Akin to Trump's, According to VanEck
In an unexpected turn of events, Alessandro Valentino, the CEO of VanEck, has bestowed the title of "Crypto President" upon former US President Donald Trump. This title comes as Trump has been making concerted efforts to tie his brand with the cryptocurrency industry.
Valentino, a prominent figure in the crypto sphere, doesn't believe that a change in leadership would undo the progress made in the industry. He stated that every industry, once it gets big enough, does some lobbying, implying that Trump's involvement could be a strategic move to influence the crypto landscape.
Meanwhile, the cryptocurrency sector has been increasingly active in political donations. In 2024, crypto firms spent a staggering $131 million in election contributions, with a majority of the funds backing Republican candidates.
As the US continues to lead in cryptocurrency regulatory developments, European politicians are following suit. European Commission officials and the European Central Bank are pursuing regulatory developments inspired by the US model. ECB President Christine Lagarde, for instance, has advocated for strict oversight of foreign stablecoins to prevent regulatory arbitrage.
However, experts such as Prof. Peter Bofinger emphasize that Europe needs new strategies to handle stablecoins, particularly those backed and loosely regulated in the US. This highlights ongoing reform discussions within the EU, as the region advances legislation like MiCA aiming for robust, harmonized crypto-asset regulation.
Despite Trump's new title, his approval rating has been falling. It is not mentioned that Democrats will crack down on the Trump family's WLFI crypto businesses. However, Valentino suggested that Trump needs to be aligned with crypto more than crypto has to be aligned with Trump.
As the crypto industry continues to evolve, the role of influential figures like Trump could shape its future trajectory. Whether this partnership will lead to significant changes remains to be seen.
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