In 2024, cryptos have reached a momentous milestone, with their increasing integration into global financial systems. This year was punctuated by major initiatives, driven by ambitious regulations and large-scale strategic projects. In the United States, the potential passage of the Bitcoin Act has opened the way for discussions about the role of cryptos in economic sovereignty. In Europe, the MiCA regulatory framework has introduced new rules to stabilize markets and protect investors. At the same time, Latin America has established itself as a key player, with innovative partnerships such as that of El Salvador and Argentina, which consolidates their position in the face of local economic challenges. These advances demonstrate a global movement towards the adoption of these assets, and chart a new trajectory for the crypto industry and its future implications.
Essential regulations in the United States and Europe
The year 2024 was a major milestone for the United States with the Bitcoin Act, a bill initiated by the Republican senator Cynthia Lummis. This ambitious text aims to create a strategic bitcoin reserve, presented as an essential tool to strengthen the country's economic sovereignty. The initiative garnered bipartisan support, including from Democratic Rep. Ro Khanna, the first member of his party to back such a measure. Additionally, states like Pennsylvania and Texas have developed similar proposals, which have helped build momentum for widespread adoption. According to Anastasija Plotnikova, CEO of Fideum, this reserve could transform the management of strategic assets by governments. “This type of reserve could redefine how states manage their strategic assets,” she said.
Meanwhile, Europe has consolidated its position as a regulatory leader with the application of the MiCA (Markets in Crypto-Assets Regulation) framework, fully effective since December 30, 2024. This regulation, hailed as a historic breakthrough, sets standards detailed instructions for the issuance and management of stablecoins. In addition, it guarantees better market stability and increased protection for investors. European ambitions do not stop there. MiCA aspires to become a global benchmark, as highlighted by Binance analysts. According to them, “MiCA will serve as a global model for other jurisdictions seeking to harmonize their regulations”. This innovative approach has already encouraged innovative projects, such as the launch of the EURCV stablecoin by Bitpanda and Société Générale, which demonstrates Europe's capacity to align regulation and innovation. As such, these advances illustrate how clear regulatory frameworks can boost investor confidence and set the stage for broader adoption.
Latin America, a booming model
El Salvador in 2024 celebrated the third anniversary of its historic adoption of bitcoin as legal tender. This milestone was marked by an additional step in the country's crypto strategy: a strategic partnership signed with Argentina. Such an agreement, concluded by Juan Carlos Reyes, president of the National Commission of Digital Assets of El Salvador, and Roberto Silva, president of the National Commission of Values of Argentina, aims to pool technological skills and strengthen the blockchain infrastructure in the region. Juan Carlos Reyes explain in a publication on the professional network Linkedin that this collaboration is based on a common vision: “the technological know-how of El Salvador and the innovation of Argentina can generate solutions adapted to the economic challenges of our countries”. According to Ryan Lee, analyst at Bitget Research, this partnership can consolidate the legitimacy of bitcoin as an economic tool, particularly in countries facing high inflation, where citizens are looking for alternatives to preserve their purchasing power.
At the same time, other Latin American nations are positioning themselves as key players in the adoption of cryptos. Brazil, for example, recorded over $90 billion in crypto transactions in 2024, precise a report from Chainalysis. This dizzying volume places the country second among crypto users in the region. Such dynamics illustrate the growing interest in the crypto industry as a response to economic uncertainties and the instability of local currencies. Furthermore, this trend could encourage other neighboring countries to integrate these assets into their financial systems, with a view to attracting new investors. The rise of cryptos in Latin America goes beyond just transactions. It reflects a profound transformation of traditional economic systems, signaling a transition towards more decentralized and resilient models.
The year 2024 has established itself as a key milestone in the adoption of cryptos on a global scale, driven by strategic initiatives and ambitious regulations. In the United States and Europe, structured legislative frameworks such as the Bitcoin Act and the MiCA Regulation have laid the foundations for a more secure and attractive environment for investors. In Latin America, strategic collaborations, such as the partnership between El Salvador and Argentina, illustrate the role of cryptos as a response to local economic challenges. These developments, through the redefinition of the uses and perceptions of these assets, open up promising prospects for their integration into global financial systems. With attention already turning to 2025, cryptos appear poised to play an increasingly central role in the overall economy.
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