The EU is watching your wallet, but it still beats the US for crypto

cointelegraph.com:

Millions of American television viewers, including those watching the NBA Finals, will soon see a new national ad campaign run by Coinbase. Titled “Moving America Forward,” the campaign is focused on explaining crypto and illustrating how it can help “update the system.” The ads add to the increasing pressure the company is putting on the United States Securities and Exchange Commission for clarity on digital assets. But no company can operate without a backup plan, which explains why Coinbase also secured a license in Bermuda in April to operate an offshore exchange.

However, not every crypto company has millions to spend on advertising and lobbying costs, and they are seeking escape from the U.S. while avoiding the “offshore” tag. Where can they go without being watched, or regulated out of existence?

Europe is an alternative, but a word of warning: The alternative to the U.S. approach is neither a full embrace of crypto nor regulatory freedom. Europe has plenty of rules for crypto, but it is still preferable to the uncertainty of the United States.

Related: Elizabeth Warren is pushing the Senate to ban your crypto wallet

Europe’s seismic shift after Brexit left the continent uncertain about its economic future. Technology of all kinds, including artificial intelligence, became the focus of the parliament. The timing was ideal — the UK was mired in its own post-Brexit issues and has yet to solidify its position as a crypto hub. And Europe did what it does, which is to regulate. Introduced in September 2020, its Markets in Crypto-Assets (MiCA) legislation was confirmed just this year. Countries like France are already positioning themselves to welcome companies under these new regulations.

MiCA isn’t perfect. It