“Crypto.com President Eric Anziani Declares That Europe’s Stablecoin Framework Requires Enhancements At Paris Distributed ledger Week”

“The stablecoin framework in Europe requires enhancements, as many participants have exited the European market,” stated Eric Anziani, President and Chief Operating Officer (COO) at Crypto.com, alluding to Tether’s issues in Europe. “When examining the framework, the areas where we identify potential enhancements are related to stablecoins. Numerous players have had to depart the European trading market, which diminishes competition and is unfavorable for consumers due to stringent requirements for placing funds in uninsured bank deposits.”

During Paris Blockchain Week 2025, held from April 8 to 10, industry leaders expressed their views on regulatory frameworks globally, particularly focusing on improvements needed in Europe and the US. Anziani remarked, “Europe typically implements regulations before fostering business.”

“There are opportunities for us to collaborate with regulators, including ESMA, to enhance the framework,” he continued.

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“MiCA Has Been Relatively Favorable,” States Eric Anziani

“MiCA has been quite favorable, particularly for participants seeking regional scalability,” noted Anziani. “Operating in Europe was exceedingly challenging. You needed to register in each individual country, each with its own specific onboarding, KYC, and consumer security requirements. It was a nightmare and remarkably costly to function.”

“Now that we have a unified framework, we were the first to achieve it (MiCA approval) and apply it throughout the European Union,” he added.

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“The US Industry Has Endured Hardship Over the Last Three Years”

Reflecting on Donald Trump’s administration, he stated, “It’s remarkable to observe how quickly the new administration implemented its promises to the industry through executive orders and new stablecoin legislation.”

Nonetheless, he emphasized that over the past three years, the US industry has been under strain. “They were constrained, subjected to unfair enforcement. It was severe. It was truly severe,” remarked Anziani. “And everyone outside the US was observing this carefully and became very cautious about the sector. It was difficult for countries worldwide to make significant moves if the US was not supportive and, in fact, opposing the industry.”

“Since November, I believe there has been a significant change,” he continued. “This administration is pro-business and pro-crypto, providing substantial support for the industry. Therefore, it’s a massive change for us, not just for the US but globally.”

Eric Anziani, https://t.co/GuuXE3NYGZ COO & President, shared insights on CNBC about the evolving U.S. crypto regulations. @ericnode @cryptocom pic.twitter.com/EHDfdNRZip

— Kaan (@KaanCronos) February 20, 2025

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On a Positive Note – Significant New Institutional Flows Since January 2024

“There’s a saying in our field – institutions are arriving,” Anziani quipped. “But they weren’t previously present. There were numerous obstacles preventing their entry. I believe this cycle marks their entrance. Substantial new flows from institutions have initiated since January 2024.”

“The launch of the Bitcoin ETF in the US was truly the start,” he added. “We’re now witnessing a significant influx, along with many new products being introduced. These are originating from major TradFi players, be it asset managers, upcoming banks, or Fintech companies.”

“New flows are uncommon in our sector,” Anziani emphasized, “and this one is notably substantial.”

“Therefore, it’s crucial for us to be involved.”

Discussing Crypto.com’s goals, he indicated, “We’ve made it clear that we want to base level the ETF crypto market. The two primary areas where we can add value are asset custody and market fluidity. Currently, we possess the deepest available volume for BTC and ETH.”

“We’re collaborating with various ETF issuers, and we anticipate several announcements in the coming months regarding ETF issuers,” stated the President of Crypto.com.

 

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