Global Regulation

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 27 February 2025, the United States Securities and Exchange Commission (US SEC) published Joint Stipulation to Dismiss, and Release and thereby dismissed its civil enforcement action against Coinbase Inc. and Coinbase Global Inc.

On 16 January 2025, the Hong Kong Securities and Futures Commission (HK SFC) issued new regulatory standards for Virtual Asset Trading Platforms (VATPs) following inspections under the deemed licensing framework. These measures aim to strengthen security, compliance, and operational integrity in the virtual asset sector.

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.

On 19 February 2025, the Hong Kong Securities and Futures Commission (HK SFC) launched the “A-S-P-I-Re” roadmap, launched a five pillar framework, mapping the Virtual Asset Ecosystem, its Composition, Dynamics, and the Imperative for Strategic Regulation of Hong Kong’s virtual asset (VA) regulations.

On 4 February 2025, United States Securities and Exchange Commission (US SEC) Commissioner Hester M. Peirce published her statement titled The Journey Begins, after the launch of the US Crypto Task Force. In her statement she elaborated on the US Crypto Task Force and its goal to create a structured and transparent regulatory framework for the crypto industry while addressing past regulatory inconsistencies and enforcement-driven oversight.

On 10 January 2025, the Hong Kong Securities and Futures Commission (HK SFC) issued a public warning against “iSCAT Exchange,” an unlicensed virtual asset trading platform operating unlawfully under Hong Kong regulations.

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.

On 14 February 2025, the Hong Kong Securities and Futures Commission (HK SFC) convened the inaugural meeting of the Hong Kong Virtual Asset Consultative Panel (VACP), an advisory body dedicated to shaping the regulatory framework for virtual assets in Hong Kong.

On 20 January 2025, US CFTC Commissioner Kristin Johnson delivered speech at the Global Blockchain Business Council’s 8th Annual Blockchain Central Davos, held alongside the 2025 World Economic Forum.

On 12 December 2024, the Bank for International Settlements (BIS) published FSI Insights No. 63, titled “Regulating AI in the Financial Sector: Recent Developments and Main Challenges.” The report examines and elaborates on the rapid adoption of AI in banking and insurance sector, highlighting its transformative potential and associated risks. It outlines a regulatory framework to balance innovation with financial stability, addressing governance, ethical concerns, and sustainability challenges.