This year has seen significant developments in crypto-related policy. For the first time in U.S. history, Congress enacted — and the president approved — landmark crypto legislation. Federal regulators have notably reduced their enforcement actions against crypto firms, while also initiating more regulations to support the sector. Consequently, companies have felt more confident to introduce new products and services in the U.S.
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The narrative
Last year, CoinDesk’s policy team shared our expectations for 2025. Let’s assess our predictions.
Why it matters
This marks the final newsletter for 2025. Much has transpired, and it’s clear that we will remain active well into 2026.
Breaking it down
On December 31, 2024, I commented that it seemed likely the agency would alter its approach toward future lawsuits involving crypto industry stakeholders. However, how they will manage ongoing cases against firms like Coinbase, Binance, Binance.US, Kraken, and others is still uncertain. No legal expert believes the SEC will completely dismiss these cases.
Indeed, the SEC has dropped the majority of the cases it pursued in the previous year.
Other legal matters unfolded as anticipated; Sam Bankman-Fried’s appeal is still in progress, Roman Storm’s case concluded with a partial conviction and continued post-trial motions, Do Kwon admitted guilt on some charges, and we are still monitoring a few active cases.
Jesse Hamilton observed that while Congress focuses on legislation, “Bottom line: Post-election enthusiasm often transitions into a why-is-this-taking-so-long scenario.”
Although the GENIUS Act regarding stablecoins has been enacted — validating Cheyenne Ligon’s analysis — the ongoing discussions about the more crucial market structure bill support Jesse’s report.
The regulatory landscape has become significantly more intricate regarding digital assets, as numerous countries are advancing their policies. This includes rulemaking in the U.S., new licenses being distributed in the Middle East, and Russia’s evolving stance on digital assets.
This week
- Happy New Year, everyone!
If you have any thoughts or questions on what I should discuss next week or any feedback you’d like to provide, feel free to email me at [email protected] or connect with me on Bluesky @nikhileshde.bsky.social.
You can also engage in the group conversation on Telegram.
See you next week!
