Patrick Hansen, Senior Director of Strategy and Policy at Circle EU, analyzed that EU banking regulation provides significant competitive advantages for cryptocurrency companies, while US counterparts face regulatory uncertainty and restricted bank access. The report points out that the EU has promoted innovation in the financial sector for non bank payment service providers (PSPs) through legal frameworks such as the Electronic Money Directive (EMD) and the Payment Services Directive (PSD). The latest regulations, such as the Instant Payment Regulation (IPR) and Payment Services Directive 3 (PSD3), further expand the access rights of non bank PSPs to central bank payment systems. In contrast, the United States lacks a unified federal regulatory framework, limits bank access, and hinders industry development. @gyozilla