Ekmel Cilingir, Chairman of the Supervisory Board of European Merchant Bank (EMBank), has released an article examining the evolving landscape of cryptocurrency regulation in the U.S. and the European Union. Based in Vilnius, Lithuania, Cilingir's LinkedIn Pulse article, titled "Crypto Going Legit: New Direction in the US, MiCA's Early Success, How Businesses Can Benefit," explores the contrasting regulatory approaches and their impact on businesses.

In addition to opening up markets to benefit consumers, Cilingir’s post also points to the EU’s recently adopted, phased-in regulation — Markets in Crypto-Assets (MiCA) — as an example. The piece showcases those early wins with eye-popping stats. Trading volumes jumped by 28%, while the issuance of MiCA-compliant stable coins tripled.

Our joint comment showcases the difference in approach taken by the EU compared to the U.S. The U.S. pursued an equally dramatic policy reversal with the recent launch of a federal Crypto Task Force and simultaneous approval of Bitcoin and Ethereum spot ETFs. As a founder and thought leader, Cilingir has been at the forefront of the advancement of digital assets and financial innovation. They’re convinced that these regulatory breakthroughs offer tangible business advantages.

As highlighted in Cilingir’s Op-Ed, regulatory harmonization is key to lowering costs in cross-border payments. Improved access to pan-European markets and tokenised fundraising are highlighted as key advantages of regulatory progress within the EU.

"Crypto Going Legit: New Direction in the US, MiCA's Early Success, How Businesses Can Benefit" - Ekmel Çilingir

Cilingir thinks that regulation—with the depth and clarity of MiCA, for example—legitimizes crypto, ushers in the promise of financial inclusion, and commercial agility. His piece provides a helpful roadmap for how businesses can responsibly and competitively engage with crypto within these new guardrails.

Cilingir’s analysis offers important perspectives for fintechs and SMEs adjusting to the new regulatory environment. His tireless work has done much to help set the conversation on what digital assets are, and how they might fit into the broader financial system.