Global Regulation

On 28 May 2025, the United States Securities and Exchange Commission (US SEC) published a Notice of Designation of Longer Period to extend its review timeline on a proposed rule change by NYSE Arca, Inc. seeking approval to list and trade shares of the Bitwise 10 Crypto Index Fund under proposed NYSE Arca Rule 8.800-E.

On 21 May 2025, the Government of the Hong Kong Special Administrative Region announced the passage of the Hong Kong Stablecoins Bill by the Legislative Council, officially enacting the Hong Kong Stablecoins Ordinance.

On 1 April 2025, the Swiss Financial Market Supervisory Authority (FINMA) implemented a structural reorganisation to strenthen its risk-based supervision across banking, insurance, and asset management sectors.

On 29 April 2025, the United Kingdom Government along with UK Financial Conduct Authority (UK FCA) and UK Treasury Department, in furtherance of the UK Crypto Roadmap, completed a milestone shift in Crypto asset regulation and published its first draft bill for cryptoassets under the Financial Services and Markets Act 2000 (FSMA)

On 8 April 2025, the United Kingdom Financial Conduct Authority (UK FCA) launched its Pre-Application Support Service (PASS).

On 7 April 2025, the United States Department of Justice (DOJ), through a policy memorandum issued by Deputy Attorney General Todd Blanche titled “Ending Regulation By Prosecution.”

On 4 April 2025, the United States Securities and Exchange Commission (US SEC), through its Division of Corporation Finance, issued an interpretive statement titled statement on stablecoins.

On 21 March 2025, the United States Commodity Futures Trading Commission (US CFTC) confirmed that the United States District Court for the District of Arizona has issued two judgments against Debiex and relief defendant Zhang Cheng Yang.

Explore this comprehensive overview of virtual assets law and regulation across more than 20 jurisdictions, including Mauritius, Seychelles, Hong Kong, Singapore, Antigua & Barbuda, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Grenada, St. Kitts & Nevis, Estonia, Isle of Man, Gibraltar, Guernsey, Jersey, Malta, Abu Dhabi, Bahrain, Dubai International Financial Centre (DIFC), Dubai (UAE), and Qatar.

On 11 March 2025, the United States Securities and Exchange Commission (US SEC) published a notice extending the review period for NYSE Arca’s proposed rule change to list and trade shares of the Grayscale XRP Trust under NYSE Arca Rule 8.201-E.

On 11 March 2025, the United States Securities and Exchange Commission (US SEC) published a notice inviting public comment on a proposed rule change submitted by NYSE Arca, Inc.

The Financial Action Task Force (FATF) published its latest update on jurisdictions under increased monitoring, commonly known as the Grey List, dated 21 February 2025.