Wire · regulatory
GENIUS Act vs MiCA: US and EU Crypto Rules Compared
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Fusion42 · 24 July 2026 · Fusion42 review
The US GENIUS Act (stablecoins only, live since July 2025) and EU MiCA (comprehensive crypto rulebook, live since June 2023) have diverged sharply in scope and enforcement; Tether exited Europe under MiCA while Circle operates under both, and the European Commission is already discussing MiCA revisions.
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◆ ◆ The Wire takeaway
If you issue stablecoins, the US path (narrow, bank-friendly, one rule) and EU path (broad, infrastructure-heavy, one rulebook for everything) now have real market consequences: Tether abandoned €27bn in EU volume rather than comply. Your choice of jurisdiction is no longer cosmetic—it determines who your customers can be and what your reserve rules cost to operate.
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