The formation of the MiCA Crypto Alliance highlights the clash between traditional finance and the blockchain industry. MiCA regulation, a comprehensive framework for EU crypto rules, shows acceptance of the crypto industry within the EU. The Alliance aims to help crypto companies comply with MiCA and focuses on environmental regulations. The EU has taken a regulation-first approach to crypto, while the US faces legal battles with a perceived hostile SEC. The outcome of the US presidential election could determine the future of crypto regulation in the country. The MiCA Crypto Alliance's emphasis on climate-related obligations contrasts with recent shifts at BlackRock, which has moved away from the ESG model. Regional divergence in crypto regulation is possible, especially if the US becomes pro-crypto. Ultimately, it is ironic to see centralized bodies grapple with a decentralized technology.



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