The post The crypto industry might wanna lower its expectations for president Trump appeared on BitcoinEthereumNews.com.

Crypto elites came into 2025 with wallets wide open and hopes even bigger. They’ve pumped $135 million into President-elect Donald Trump’s campaign and his congressional allies. What do they want in return? A crypto utopia: no more SEC lawsuits, unrestricted access to banking, and, for dessert, a shiny U.S. Bitcoin reserve. But guess what? Reality might be a little less glamorous. Sure, Trump calls himself the “crypto president,” but the global financial ecosystem isn’t waiting to roll out a red carpet for this libertarian dream. Instead, Europe and Asia are moving in directions that could ruin these grand plans. Europe doesn’t care for Trump’s crypto revolution Over in Europe, regulators have moved forward with regulatory plans. On December 30, new rules kicked in, forcing stablecoins like Tether’s USDT to keep 60% of their reserves sitting in traditional bank accounts. According to Tether CEO Paolo Ardoino, this could lead to “incredibly big systemic risk.” But here’s the thing: not complying means stablecoins like USDT might as well pack their bags because European investors won’t touch them. Meanwhile, banks are circling like vultures. They’re ready to launch their own stablecoin-style products, and they have the regulatory backing to do it. The EU’s actions are a power move to keep the financial reins firmly in the hands of traditional institutions. Asia’s blockchain war: Decentralization vs domination Asia is playing an entirely different game. China, unsurprisingly, is leading the charge. Forget decentralization; their blockchain vision is all about control. They’re using projects like mBridge to push back against U.S. dollar dominance and Silicon Valley’s ideals of financial freedom. What’s mBridge? It’s a cross-border payment system where central banks can swap their digital currencies, cutting out SWIFT and avoiding U.S. scrutiny. It’s a direct challenge to the U.S. financial system, led by a coalition including…

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Filed under: News - @ January 2, 2025 10:26 pm