#US vs #Eu

⚔️ Battle for $77 Trillion: US and EU Divide Crypto Derivatives Market

While you trade, regulators are waging a silent war over where billions in commissions will go from your pocket. As of February 2026, the situation has heated up: the US is opening the door to leverage, and Europe is tightening the screws.

🇪🇺 Europe: “Whatever you call it, it’s a CFD”

ESMA (European Securities and Markets Authority) has issued a clear verdict: perpetual futures (perpetuals) are actually contracts for difference (CFDs).

• Leverage Cap: Leverage for retail trading will be limited to 2:1.

• The essence is beyond the name: Marketing tricks will not help. Even if the instrument is called “futures”, it falls under strict investor protection rules.

• The end of aggressive marketing: “Start trading now” pop-ups and newsletters are becoming taboo. The regulator requires strict customer verification for product compliance.

🇺🇸 USA: “Offshore passions — to the native shore”

The CFTC (Commodity Futures Trading Commission) has chosen an “onshoring” strategy. Instead of bans, they integrate perpetual mechanics into the classic futures infrastructure.

• Leverage Edge: Coinbase already offers up to 10x on regulated perpetual futures. This is five times more than what will be allowed in the EU.

• Institutional foundation: The use of clearing houses (e.g. Nodal Clear) makes these products understandable for big money.

💰 Why is this important in numbers?

The centralized derivatives market in 2025 reached $85.7 trillion.

• Perpetuals account for 60% to 90% of this volume.

• $51–77 trillion in annual turnover is being fought over.

• Moving just 5–10% of this volume to the US jurisdiction would generate up to $1.37 billion in net fee income each year.