EU banking regulation brings new opportunities for crypto companies!🌍

According to the analysis by Patrick Hansen, Senior Director of EU Strategy and Policy at Circle, EU banking regulation provides a significant competitive advantage for crypto companies. Through legal frameworks such as the Electronic Money Directive and the Payment Services Directive, the EU has promoted innovation in the financial sector for non-bank payment service providers.

Latest regulations like the Instant Payment Regulation and Payment Services Directive 3 further expand access for non-bank PSPs to central bank payment systems. In contrast, the U.S. faces challenges in industry development due to a lack of a unified federal regulatory framework, which limits bank access. Data shows that Europe has 55 crypto-friendly banks, far exceeding North America's 23.

Hansen points out that the EU's coordinated regulatory strategy provides crucial support for the crypto and fintech industries, reducing regulatory uncertainty.🔍