The United States has been lagging behind the European Union in terms of regulating digital assets, but recent developments suggest that the country is finally taking steps to create a framework for the industry. The EU’s Markets in Crypto-Assets Regulation (MiCA) has been leading the way in providing a unified framework for digital assets, while the US has been focusing on applying existing laws to the digital space. However, with the introduction of three key bills – the CLARITY Act, the GENIUS Act, and the anti-CBDC law – the US is moving closer to creating a regulatory structure for digital assets.
Regulatory Shift
The CLARITY Act proposes to create a federal framework for digital goods under joint oversight by the SEC and CFTC. It introduces the concept of “Investment Contract Asset,” which allows a token to transition from security to commodity status after decentralization and maturity. The act also establishes categories for digital goods, digital assets that remain securities, and eligible payment medium stablecoins, as well as rules for custody, transactions, AML, and international cooperation. The GENIUS Law, which came into force in July 2025, mandates strict licenses for stablecoin issuers, including 1:1 backing with safe liquid assets, monthly reserve reports, AML compliance, and redemption rights in the event of an issuer’s default.
The anti-CBDC bill, which has already passed the US House of Representatives, aims to ban any US central bank digital currency. This approach differs from the EU’s, which is actively exploring a digital euro under the supervision of the ECB. The US is now focusing on three key points: investment categories, stablecoin reserve requirements, and consumer protection. While the EU’s framework is recognized as an integrated system, the proposed US approach remains fragmented and agency-focused.
Progress and Challenges
Despite the fragmented approach, the authorities are stepping in to fill the gaps by issuing specific regulations. The SEC has already taken action, approving Bitcoin and Ethereum exchange-traded products to operate with “in-kind” creations and redemptions. SEC Chairman Paul S. Atkins called it a step toward a “fit for purpose” framework. Nasdaq has also asked the SEC to authorize trading in tokenized securities with clear identification, which would allow blockchain technology to move from the periphery to the core of stock markets.
The big picture is clear: after years of avoidance, the US is now building a regulatory structure for digital assets. It is not yet as uniform as in Europe, but things are progressing quickly. For industry leaders, this is both a challenge and an opportunity: adapting to evolving rules while shaping how the US positions itself in the global digital economy. As Samantha Anguiano, Senior Legal Counsel at Brickken, notes, “The US is finally getting serious about digital assets, and it’s essential to stay ahead of the curve and understand the regulatory landscape.”
Samantha Anguiano is Senior Legal Counsel at Brickken, specializing in data protection, compliance, and international business law. She holds a Master of Laws (LL.M.) in United States and Intellectual Property and Information Law from the University of Houston Law Center and a Masters in Blockchain Law from EBIS Business Techschool. Samantha focuses on regulatory compliance and cross-border legal matters, advising on the integration of new technologies into applicable legal frameworks.
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