Dr. Ozan Ozerk is the founder of Openpayd. He is a serial entrepreneur with direct interest in several digital companies.
If I wrote on the future of stablescoins and financial services linked to blockchain in 2024, I would have declared that Europe conducted the accusation comfortably. The markets in the regulation of cryptocurrencies (Mica) gave industry something that he wanted for a long time: legitimacy and legal certainty.
Mica has recognized a simple truth: currencies and payments underlie decentralized finance (DEFI). Without regulatory clarity and consumer confidence in these fundamental strata, Defi cannot evolve on a large scale.
On the other hand, the United States had appeared openly skeptical and were often even considered hostile. The American Securities and Exchange (SEC) commission had continued the main players like Coinbase and Binance, while Donald Trump rejected Bitcoin as a “scam against the dollar”. At one point, Coinbase even launched the idea of moving its headquarters from the United States, while Ripple was waiting for his day in the American courts.
A bit
All this has changed – almost the day of the day after day – when the current administration took office in January 2025. In a few days, a presidential decree on Crypto created a high -level working group, chaired by a new senior artificial intelligence (AI) and the Crypto -Trading Commission (CFTC) and other financial effects.
The group has examined the existing law and policy linked to cryptography. In addition, the decree has taken a clear ideological position, explicitly prohibiting any federal effort to create or support a digital currency of the Central Bank (CBDC).
This ban was more than symbolic. Trump has a long -standing suspicion that digital currencies undergo privacy and destabilize financial freedoms.
Stablecoins on CBDC
Instead of a digital dollar supported by the State, the current administration launched its support behind the private sector, specifically regulated by stablescoins by USD. In doing so, it expressed the conviction that blockchain innovation and decentralized finances are aligned with American national interests, as long as railing is in place.
Two proposed laws – the stable law and the law on engineering – are now progressing through the congress. The first leans towards centralized regulations, while the second offers a more flexible federalist framework. But both suggest that stablecoins will soon be subject to strict verification and surveillance rules.
This could make a major challenge for Tether, based in El Salvador, which has long been criticized on his opaque reserves. If he is forced to comply, he may need to launch a separate and specific room in the United States or risks marginalization. Meanwhile, Circle, who has now allocated JP Morgan Chase and Citi as an auditors, seems to be well positioned and has just filed an IPO. In addition to Bitcoin and Ether, XRP (Ripple), Solana, Cardano and the USD on the back of the Trump family are also among a handful of Trump’s darling.
It is a clear signal: the United States would prefer to supervise the stabbles emitted private than to risk the confidentiality and the complexity of the CBDC. Meanwhile, the European Union (EU) proceeds to control the digital euro and orders for stable.
Realignment of dry politics
The regulatory pivot did not stop there. The dry has softened its previously aggressive posture. A new crypto working group, led by Commissioner Hester Peirce (a defender known to cryptography), was responsible for designing a regulatory framework that really encourages legal innovation.
It is over time to continue businesses in a regulatory submission. The SEC now promotes clear advice, simple recording paths and sensitive disclosure requirements.
Legislative movement
Congress has also changed speed. After the elections, the Chamber’s Financial Services Committee and the Senate Banks Committee made cryptographic regulations an absolute priority. The room works on executives to protect consumers while preserving innovation, while the Senate focuses on stablescoins and the application of the fight against money laundering (AML). Current hearings also attack the alleged “Choke Point 2.0” strategy of the previous administration, where regulators have discreetly encouraged banks to undress while avoiding cryptographic customers.
Until recently, Crypto was treated with suspicion, but now it is considered a politically strategic industry where the United States cannot afford to late.
Do not copy mica, but do not ignore it either
Above all, the United States has reported that it does not intend to copy European mica. Instead, he wants to build an innovative “native blockchain” framework adapted to American markets.
This divergence is important. The EU can have regulatory clarity and maturity for its part, but the United States has the depth, talent and flexibility of capital markets. These differences are likely to shape the next phase of Defi’s growth. In addition, the fact that most EU member states have postponed their deadline for the implementation of the Mica gives the United States room to catch up.
In practice, this could mean that the DEFI platforms and the stablecoins will have to comply with two separate regulatory regimes, according to the jurisdiction. This adds friction, but also opportunities.
Over time, however, a certain alignment is likely. The EU and the United States share the basic objectives: consumer protection, AML compliance, cybersecurity and financial stability. If the United States extended the law on banking secrecy to cover more cryptography activities, as many are waiting for, this could create the basis of the convergence of transatlantic policy.
A new dawn for Defi?
So where does it leave?
First, this confirms that cryptocurrencies and stablecoins are there to stay. Regulatory clarity in the United States means more venture capital, more institutional adoption and ultimately more innovation worldwide.
Second, it presents a new type of race – between two regulatory superpowers with different philosophies: the structured and harmonized approach of Europe against the flexible model and focused on America innovation. Soon we will also have other financial powers; China, Singapore and the water is already making huge progress.
The result? Perhaps a short-term divergence period, but a possible alignment in central areas. The end result could be a global challenge ecosystem which is safer, more legitimate and better understood by regulators and investors.
For the moment, 2025 marks a turning point. The United States has returned to the arena not as a skeptic but as a strategic player to shape the future of decentralized finance.
Will this transform the United States into “bitcoin superpower of the world”, as Trump promised? For my part, I would not want to bet against this.
The information provided here is not investment, tax or financial advice. You should consult an authorized professional to obtain advice regarding your specific situation.
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