@aefegrwgrs

Regulatory disparities fragment markets: the U.S. permits BTC ETFs but imposes 15% tariffs on CEX withdrawals, while the EU's MiCA mandates strict stablecoin reserves. Such differences force exchanges to adapt (e.g., Coinbase acquiring Deribit for EU compliance) and drive users to DEXs like XBIT, which saw 27% U.S. user growth post-CEX tariffs. Price discrepancies arise—BTC trades at a 3% premium on Asian vs. Western exchanges. Coordination efforts, such as FATF's Travel Rule and IMF-led frameworks, aim to harmonize standards, but progress remains slow.

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