The European Parliament ECON Committee has approved its position on #MiCA.
This is an important step towards an EU-wide regulatory framework for , which comes just a few days after US President Biden launched a comprehensive agenda on .
The Biden’s agenda and the #MiCA file are largely inspired by the same policy goals. Hopefully, this will result in EU-US cross-fertilization and facilitate regulatory alignment rather than competition.
The Biden’s agenda encourages R&D on a potential US (a ‘digital dollar’). This is an area where the EU thinking is quite advanced and where we will likely see EU-US cooperation. The EU and US indeed agree on the potential benefits of interoperable CBDCs systems for cross-border payments, which necessarily calls for coordination between the two sides of the Atlantic (and beyond).
However, the EU and US may also have competing interests in this regard, given that will play a role in enhancing the international role of the euro and the dollar respectively.
Read more in our article.