Regulating Cryptocurrency: A Comparative Analysis of U.S. and EU Approaches

Authors

Xander Xueyang Peng, Benjamin N. Cardozo School of Law

Abstract

The note compares the regulatory approaches of the U.S. and the EU regarding cryptocurrency, focusing on sanctions and anti-money laundering (AML). It argues that while the EU has implemented a comprehensive regulatory framework, the U.S. relies on fragmented enforcement actions and lacks a unified approach. The EU's structured regulations, such as the Markets in Crypto-Assets (MiCA) framework, are more effective in addressing the challenges posed by cryptocurrency, including traceability and compliance. The note advocates for the U.S. to adopt a more robust regulatory framework, including know-your-customer (KYC) requirements and stricter AML measures, to enhance accountability and security in the crypto industry.

Disciplines

Banking and Finance Law | Bankruptcy Law | Comparative and Foreign Law | Criminal Law | Criminal Procedure | International Law | Law | Science and Technology Law

Recommended Citation

Xander X. Peng, Regulating Cryptocurrency: A Comparative Analysis of U.S. and EU Approaches, 7 Cardozo Int’l & Compar. L. Rev. 709 (2024).
Available at: https://larc.cardozo.yu.edu/ciclr/vol7/iss2/9