“The stablecoin framework needs improvement in Europe, as many players have exited the European market,” Eric Anziani, President and COO of Crypto.com, remarked, referencing Tether’s issues in Europe. He noted, “When assessing the framework, we see critical areas for enhancement regarding stablecoins. The exit of several players has diminished competition, negatively impacting consumers due to the stringent requirements for placing funds into uninsured deposits in banks.”

Paris Blockchain Week 2025, held from April 8 to April 10, witnessed industry leaders discussing regulatory frameworks globally and areas for enhancement, particularly in Europe and the US. Anziani stated, “Europe’s approach typically involves regulation before fostering business.”

“We can collaborate with regulators like ESMA to enhance the framework,” he remarked further.

“MiCA Has Been Relatively Positive,” Eric Anziani Stated

Anziani expressed, “MiCA has been largely beneficial, particularly for businesses seeking regional scale. Operating in Europe was exceedingly challenging; each country mandated individual registrations along with specific onboarding, KYC, and consumer protection stipulations. It was an arduous and excessively costly process.”

“With the establishment of a unified framework, we became the pioneering entity to obtain MiCA approval and implement it throughout the EU,” he added.

“The Industry in the US Has Struggled Over the Past Three Years”

Referring to the administration of Donald Trump, he stated, “It’s remarkable to observe how swiftly the new administration executed commitments made to the industry, including executive orders and new legislation addressing stablecoin and market infrastructure.”

Nevertheless, he highlighted that the US industry has faced significant struggles over the last three years. “They faced undue constraints and enforcement. It was quite severe,” Anziani said. “Everyone outside the US was monitoring this scenario and responded cautiously, making substantial movements difficult for other nations when the US appeared non-supportive and even antagonistic toward the industry.”

“Since November, I believe the situation has shifted notably,” he observed. “This administration is business-friendly and supportive of crypto, marking a monumental shift for both the US and the global landscape.”

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Key Insights

• “We’re collaborating with multiple ETF issuers, and in the upcoming months, numerous announcements related to ETF issuers could surface,” asserted the President of Crypto.com.
• “There are opportunities for us to work alongside regulators from the European Securities and Markets Authority (ESMA) to refine the framework,” stated Eric Anziani.