US stablecoin rules under the GENIUS Act are splitting global liquidity with Europe, creating regional markets and potentially leading to cross-border friction, a report says. The United States’ new approach to stablecoin regulation is reshaping global liquidity flows and driving a sharp structural split with the European Union’s Markets in Crypto-Assets (MiCA) regime, effectively creating separate US and EU stablecoin liquidity pools, according to a new report from blockchain security auditor CertiK. The report finds that the US digital asset market entered a new phase of regulatory clarity in 2025, with federal legislation and administrative reforms now broadly aligned around how digital assets are issued, traded and custodied. At the center of that shift is the GENIUS Act, signed into law by US President Donald Trump in July, which establishes the first federal framework for payment stablecoins. The law imposes strict reserve requirements, bans yield-bearing stablecoins, and formally integrates stablecoin ...
21Shares, one of the largest crypto ETF issuers with $8 billion in assets, continues to introduce more investment products in Europe as an influx of new crypto ETFs hits the US. 21Shares, a major crypto exchange-traded product (ETP) provider, is expanding its offerings in Europe with the launch of six more funds on Sweden’s stock exchange, Nasdaq Stockholm. 21Shares on Thursday announced the cross-listing of six additional products on Nasdaq Stockholm, including ETPs for Aave (AAVE), Cardano (ADA), Chainlink (LINK), Polkadot (DOT) and two crypto basket products. With the expansion, 21shares now offers a total of 16 ETPs on Nasdaq Stockholm, which is just a fraction of multiple offerings available on other European exchanges like SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam and more. Read more
Aave said compliant, audited payment pathways are crucial for onboarding new users to decentralized finance. Aave Labs became one of the first major decentralized finance (DeFi) projects to secure authorization under Europe’s new Markets in Crypto-Assets (MiCA) regulation, allowing the company to offer regulated stablecoin ramps across the European Economic Area (EEA). The approval enables “Push,” Aave Labs’ fiat-to-crypto service, to let users convert between euros and crypto assets, including the Aave protocol’s native stablecoin, GHO. The Central Bank of Ireland granted the authorization to Push Virtual Assets Ireland Limited, a wholly-owned subsidiary of Aave Labs. The company selected Ireland for its European operations, signaling that the country is becoming a preferred hub for compliant onchain finance under MiCA. On June 25, the crypto exchange Kraken secured its MiCA authorization in Ireland, allowing it to expand its offerings across Europe. Read more