What next for crypto-assets? MiCA and the Trump II administration
Since the publication of Bitcoin’s whitepaper in autumn 2008, the number of crypto-assets has increased dramatically. As of November 2024, more than 10 000 crypto-assets are listed on CoinMarketCap, with a combined market capitalisation exceeding three trillion USD – surpassing some of the largest US Big Tech companies.
Until recently, crypto-assets have remained largely disconnected from traditional finance, with major financial institutions playing only a marginal role. However, traditional financial actors are now showing growing interest, with some beginning the process of issuing their own crypto-assets.
Donald Trump has made strong crypto-friendly statements, sparking a rally in crypto markets. Though increased deregulation appears to be a possibility, the exact intentions of Trump’s newly elected administration regarding crypto-assets remain unclear. In contrast, the EU is preparing for the full application of the Markets in Crypto-assets (MiCA) Regulation at the end of this year.
This ECRI/CEPS event will explore whether Donald Trump’s return to the White House could significantly reduce the chances of regulatory convergence on crypto-assets between the US and the EU. We will debate whether the EU’s clear regulatory framework provides it with a competitive advantage and discuss the potential benefits of crypto-assets for traditional financial players. Additionally, we will assess whether any new initiatives from the Trump administration could pose risks to financial stability.
Panel discussion
- Luis del Olmo, Senior Policy Expert, EBA
- Matthew Osborne, Policy Director EMEA, Ripple
- Mark Foster, EU Policy Lead, Crypto Council for Innovation
- Alexander Höptner, CEO, AllUnity
Moderated by Judith Arnal, Associate Senior Research Fellow, CEPS and ECRI.
