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MARA CEO Fred Thiel sees institutional adoption and policy shifts as catalysts for Bitcoin’s potential growth to $200k by 2025. MiCA requirements make stablecoin issuers navigate rigorous compliance while traditional banks leverage resources to integrate blockchain innovations. South Korean trading volumes supported an outperformance in XRP, as a CoinDesk analysis noted earlier this week. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen. The crypto exchange joins a number of crypto payment providers enabling customers to pay with crypto.

• Stablecoins are effectively digital currencies that are pegged to the value of fiat currencies like the dollar.
• Trump advocated for crypto on the campaign trail and, since his election win, has picked several crypto supporters to lead his administration, including Paul Atkins as chair of the Securities and Exchange Commission.
• “This year was a strong one for crypto, registering a 90%+ increase in total market cap,” Citi analysts led by Alex Saunders said in a Friday note.
• The crypto industry saw the most legislative progress on crypto laws in the U.S. this year, with one of the competing digital asset bills making it past multiple House committees for the first time.

‘DeFi on Bitcoin’ Gets a Boost as BOB L2 Integrates $6B BTC Staking Protocol Babylon

Braden Perry, former federal enforcement attorney and current partner at law firm Kennyhertz Perry, said that while the U.S. remains a top enforcer for the crypto industry, its perception as a regulator “may be diminishing,” as other jurisdictions have stepped in with clearer rules. Even as U.S. lawmakers take steps toward crypto legislation, there remains no law in the U.S. tailored specifically for the industry. Nelson Mullins Riley & Scarborough’s Levin tells CNBC it’s unlikely that we’ll see much progress in a presidential election year and with a divided federal government. In addition to securities law violations, the company and its co-founder and CEO Changpeng Zhao were also accused of commingling customer assets with company funds. CryptoSlate’s latest market report dives deep into Bitcoin ETF options, their role in the market, and their potential to reshape institutional crypto trading.

BlackRock’s Bitcoin ETF Records Its Largest Outflow

Still, it remains a volatile, risky asset, with allocations above 3% contributing to 10% or more of total portfolio risk. But no development has been more critical for digital assets than Donald Trump’s Election Day win. Trump advocated for crypto on the campaign trail and, since his election win, has picked several crypto supporters to lead his administration, including Paul Atkins as chair of the Securities and Exchange Commission. In Germany, meanwhile, the financial regulator Bafin has said it wants to accelerate its approach to licensing crypto custody services, as part of a broader effort to instill trust and transparency in the crypto market. “This perception stems from the proactive measures taken by U.S. regulatory bodies like the SEC, CFTC, and IRS, especially in addressing fraud and security issues in the crypto market. High-profile legal actions in the U.S. further cement its image as a strict enforcer,” he said.

“The result is likely to be a shift from regulation by enforcement to a more legislative-based approach,” the analysts said, adding its “less a de-regulation story; more so a removal of headwinds.” The euphoria has pushed the total crypto market value to $3.4 trillion — almost double its size from last year, despite a sell off following hawkish remarks at the Fed’s meeting last week. XRP markets are thrilling with anticipation of its potential price gains in 2025. Investors scrambled to take their money out of other cryptocurrencies, fearing that a similar thing could happen to them, which resulted in values falling significantly across the whole sector.

A South Korean man accused of being responsible for a cryptocurrency crisis which cost investors $40bn (£31.8bn) has finally been extradited to the United States. In 2022, in a bid to lead the virtual assets sector in the Middle East and Africa, Dubai — the UAE’s most populous city — launched VARA, or the Virtual Asset Regulatory Authority. Hong Kong, meanwhile, is undergoing a public consultation on stablecoins and seeks to introduce regulation next year.

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Coinatory is not liable for any inaccuracies or errors resulting from the use of AI-generated content. By using our website, you agree to these terms and acknowledge the role of AI in our operations. In summary staying updated with the news is vital, for anyone engaged in this domain. By keeping of developments individuals can make informed choices regarding their cryptocurrency investments. “Innovations, partnerships, and new entrants in the stablecoin space pose a risk to Tether’s dominance,” they said. “This year was a strong one for crypto, registering a 90%+ increase in total market cap,” Citi analysts led by Alex Saunders said in a Friday note.

While many regions have passed laws with potentially tough penalties, the U.S. is still the only country that has actively taken action against large-scale crypto companies and projects. Thus far, the U.S. has led that campaign against crypto firms by enforcement and has, by far, been the most punishing of regulators when it comes to penalties and fines. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021. Earlier this year, the Monetary Authority of Singapore, which is recognized for clear fintech and crypto regulations that do not rely heavily on enforcement actions, finalized rules for stablecoins, making it one of the world’s first jurisdictions to do so. The analysts said they are monitoring bitcoin volumes, stablecoin market values, and rising adoption in countries with currency problems, such as Turkey, Argentina, and Venezuela.

In its annual report summing up enforcement actions, the CFTC noted that nearly half of all cases in 2023 involved conduct related to digital asset commodities. “These agencies have provided guidance to the industry on how digital assets and cryptocurrencies must be offered and sold, traded, and held by custodians,” said Levin, who has been involved in the fintech sector for 30 years. According to Levin, “The SEC, the CFTC and FinCEN routinely provide informal guidance on the regulation of digital assets and cryptocurrencies.” The Citi analysts’ note pointed to six key factors that will help determine the price of crypto in the coming year, including ETF activity, regulation, and the future market for a type of crypto known as stablecoins. “The SEC even went so far as to provide a framework for the analysis of digital assets and cryptocurrencies. The SEC also created a fake digital asset (HoweyCoins) that gave advice to the FinTech community on how not to launch a digital asset,” Levin added.

Lastly, the analysts said regulation will be a reigning theme next year as Trump takes office. The incoming US President has appointed several pro-crypto candidates to his cabinet. Their policies remain unclear, though the industry generally expects lighter regulation, which could fuel more widespread adoption. More stablecoins entering the space could threaten long-time stablecoin leader Tether’s leadership, the analysts say, particularly from a new partnership between Circle and centralized exchange Binance.

Cango purchased 50 EH/s worth of mining power towards the end of 2024, making it one of the biggest players in the bitcoin mining industry. Bitcoin spot ETFs have seen inflows of $36.4 billion since they began trading in January, while ethereum spot ETFs have garnered $2.4 billion since hitting the market in July. A dozen bitcoin spot ETFs kicked forbes news 247 off the industry’s rally in January, making it easier for investors to trade bitcoin. In September, a host of central bank rate cuts and other policies added to the rally by paving the way for a growth economy.

But, despite a huge amount of money being poured into the coins, on 9 May 2022 Terraform Labs collapsed catastrophically, losing more than 99% of its value in 48 hours. “Since then, UAE regulators have remained at the forefront of the industry,” according to a Chainalysis report. Singapore was notably bruised by the collapse of TerraUSD, a controversial algorithmic stablecoin, in 2022, as well as the fall of Three Arrows Capital, or 3AC. Both Terra Labs, the company behind Terra, and 3AC were headquartered in Singapore. FrxUSD stablecoin gains resilience and regulatory edge through BlackRock’s BUIDL fund partnership. The global appeal of Bitcoin ETFs has influenced South Korea’s exchange chairman to reconsider crypto investment strategies.