The past year has been marked by substantial advancements in crypto policy, with the US Congress passing and the president signing the first significant crypto legislation in the country's history. Regulatory bodies have also eased their enforcement actions against crypto companies, while announcing new rulemaking efforts to support the industry.
As a result, companies have become more confident in launching new products and services in the US. This newsletter, State of Crypto, explores the intersection of cryptocurrency and government, and this edition reviews the key developments of 2025. The year saw the dismissal of most SEC cases against crypto industry participants, the progression of high-profile court cases, and the introduction of new legislation, including the GENIUS Act addressing stablecoins.
The regulatory environment for digital assets has become increasingly complex, with many nations developing their approaches. As we move into 2026, the crypto landscape is poised for continued evolution and growth.