The journal uses continuous publication model. Current issue is in progress.
Published Online: Jun 20, 2026
European union regulation of crypto-assets and its implications on international trade
Published Online: Jun 20, 2026
Email:
gabuseridze@cu.edu.ge
Caucasus University, Tbilisi, Georgia
Views: 202
Downloads: 2
Download PDF
Abstract:
This article examines the European Union’s regulatory framework governing crypto-assets and its implications for international trade. Against the backdrop of increasing digitalisation of financial systems and the expansion of cross-border trade, the study analyses how EU legal measures shape the deployment of blockchain technologies in international trade.
The study assesses the extent to which EU crypto-asset regulation facilitates legal certainty and market integrity while identifying structural tensions between financial risk regulation and trade facilitation objectives. Key EU legislative instruments, including Directive (EU) 2018/843 (AMLD5) and the Markets in Crypto-Assets Regulation (MiCA), are examined alongside relevant policy documents and scholarly literature. The analysis further explores how the harmonisation of the EU crypto-asset framework may affect the development of interoperable and scalable digital trade infrastructures.
The findings indicate that the European Union has established a harmonised regulatory architecture that enhances transparency, legal certainty, and consumer protection within the crypto-asset sector. At the same time, cumulative compliance obligations may constrain the scalability of blockchain-enabled trade solutions, highlighting the challenges of balancing regulatory oversight with technological innovation.
The study demonstrates that EU crypto-asset regulation increasingly influences the governance of digital trade by shaping the legal conditions for the deployment of blockchain technologies in cross-border transactions. It concludes that effective coordination between financial regulation and international trade policy is essential to support innovation while safeguarding market integrity, enhancing legal certainty, and promoting the sustainable development of digital trade.
Keywords:
JEL Classification:
F13, F53, K33, K40, O19
How to cite:
Abuseridze, G. (2026). European union regulation of crypto-assets and its implications on international trade. Bulgariаn Journal of Business Research, 37(2), 126-132, DOI: 10.46656/bposoki.2026.37.2(1)
References:
-
Adeoye, Y., Osunkanmibi, A. A., Onotole, E. F., Ogunyankinnu, T., Ederhion, J., Bello, A. D., & Abubakar, M. A. (2025). Blockchain and global trade: Streamlining cross border transactions with blockchain. International Journal of Multidisciplinary Research and Growth Evaluation, 6(2), 253-265.
-
Azimov, D. (2021). Analysis of the international experience of implementing blockchain technology. Access to science, business, innovation in digital economy, ACCESS Press, 2(2): 138-149. https://doi.org/10.46656/access.2021.2.2(2)
-
Bajoudah, S., Dong, C., & Missier, P. (2019). Toward a decentralized, trust-less marketplace for brokered IoT data trading using blockchain. In 2019 IEEE International Conference on Blockchain (Blockchain), Atlanta, USA, 2019, pp. 339-346. IEEE. DOI: 10.1109/Blockchain.2019.00053
-
Buttigieg, C. P., Efthymiopoulos, C., Attard, A., & Cuyle, S. (2019). Anti-money laundering regulation of crypto assets in Europe’s smallest member state. Law and Financial Markets Review, 13(4), 211-227.
-
Camera, G., & Casari, M. (2014). The coordination value of monetary exchange: Experimental evidence. American Economic Journal: Microeconomics, 6(1), 290-314. DOI: 10.1257/mic.6.1.290
-
Carata, C., & Knottenbelt, W. J. (2024). An analysis of the MiCA regulation and its impact for the blockchain-based economies. Lecture Notes in Operations Research, in: Stefanos Leonardos & Elise Alfieri & William J. Knottenbelt & Panos Pardalos (ed.), Mathematical Research for Blockchain Economy, chapter 0, pages 359-370, Springer. DOI: 10.1007/978-3-031-68974-1_19
-
Chang, Y., Iakovou, E., & Shi, W. (2020). Blockchain in global supply chains and cross border trade: A critical synthesis of the state-of-the-art, challenges and opportunities. International Journal of Production Research, 58(7), 2082-2099. DOI: 10.1080/00207543.2019.1651946
-
Ferreira, A., & Sandner, P. (2021). EU search for regulatory answers to crypto assets and their place in the financial markets’ infrastructure. Computer Law & Security Review, 43, 105632. https://doi.org/10.1016/j.clsr.2021.105632
-
Haffke, L., Fromberger, M., & Zimmermann, P. (2020). Cryptocurrencies and anti-money laundering: The shortcomings of the fifth AML Directive (EU) and how to address them. Journal of Banking Regulation, 21(2), 125-138. DOI: 10.1057/s41261-019-00101-4
-
Li, J., Wang, R., Cai, X., Chen, Y., & Cao, C. (2025). The game theory issues of blockchain digital ecosystem in cross-border trade. International Journal of System Assurance Engineering and Management, Springer; The Society for Reliability, Engineering Quality and Operations Management (SREQOM), India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 16(12), pages 3881-3919, DOI: 10.1007/s13198-025-02895-1
-
McDaniel, C. A., & Norberg, H. C. (2019). Can blockchain technology facilitate international trade? Mercatus Research Paper.
-
Mukhandi, M., Granjal, J., & Vilela, J. P. (2025). Blockchain hybrid-model scheme for scalable cross-domain authorisation. Blockchain: Research and Applications, 100293. 6(4), https://doi.org/10.1016/j.bcra.2025.100293
-
Teichmann, F. M. J., Boticiu, S. R., & Sergi, B. S. (2024). The EU MiCA directive–chances and risks from a compliance perspective. Journal of Money Laundering Control, 27(2), 275–283. DOI: 10.1108/JMLC-02-2023-0030
-
Toorajipour, R., Oghazi, P., Sohrabpour, V., Patel, P. C., & Mostaghel, R. (2022). Block by block: A blockchain-based peer-to-peer business transaction for international trade. Technological Forecasting and Social Change, 180, art. 121714. https://doi.org/10.1016/j.techfore.2022.121714
-
Tsinaridze, R., Makharadze, N. (2023). The role of foreign direct investment in the national economy and correlation analysis. Access to science, business, innovation in digital economy, ACCESS Press, 4(1): 46-59. https://doi.org/10.46656/access.2023.4.1(4)
-
Winnowicz, K., Au, C. D., & Stein, D. (2021). Crypto Regulation within the European Union. Available at SSRN 4194771. http://dx.doi.org/10.2139/ssrn.4194771
-
Wronka, C. (2024). Crypto-asset activities and markets in the European Union: Issues, challenges and considerations for regulation, supervision and oversight. Journal of Banking Regulation, 25(1), 84-93. DOI: 10.1057/s41261-023-00217-8
-
Zetzsche, D. A., Annunziata, F., Arner, D. W., & Buckley, R. P. (2021). The Markets in Crypto-Assets regulation (MiCA) and the EU digital finance strategy. Capital Markets Law Journal, 16(2), 203-225.