As U.S. crypto companies scramble to find alternatives to Silvergate and Signature Bank, an opportunity arises in Europe to capitalize on the stir. Europe’s regulatory clarity in the form of MiCA, or the Markets in Crypto-Assets Act, stands in stark contrast to the regulatory ambiguity in the U.S., where crypto companies face new regulatory headwinds seemingly every day. This creates an increasingly challenging environment for any crypto organization to operate in. This will be an important consideration for new and existing market participants.

Additionally, U.S. policymakers appear to be doing their best to block the dollar from entering the cryptocurrency market, opening the door for the rest of the world to gain a competitive advantage over the U.S. Early signs suggest the euro could be the big winner from the U.S. crypto bank closures, with volume on the BTC-EUR pair surging as the Silvergate issue unfolded, with its market share reaching an all-time high, accounting for 21% of Bitcoin trading volume last week, up from 7% in November. (CoinDesk)