

On August 6, 2025, Roman Storm, co-founder of Tornado Cash, received a mixed verdict from a federal jury, convicting him only of operating an unlicensed money transmitting business. Major charges for money laundering and sanctions evasion resulted in a deadlock, raising questions on the legal liability of software developers in crypto.

On August 4, 2025, the CFTC announced the approval of spot crypto trading on federally registered exchanges, marking a significant regulatory shift towards integrating digital assets with traditional finance. This initiative, in collaboration with the SEC, aims to enhance consumer protection, institutional access, and market integrity, creating a more coherent regulatory framework.

In a significant speech, SEC Chairman Paul Atkins proposed “Project Crypto,” a regulatory initiative aimed at positioning the U.S. as a leader in crypto markets. The project focuses on clarifying token classifications, supporting tokenized securities, modernizing custody rules, and facilitating innovation while reconsidering financial intermediaries. It aims to reshape U.S. financial regulation for blockchain and…

On July 30, 2025, the President’s Working Group on Digital Asset Markets presented a fact sheet to position the U.S. as a leader in digital finance. The recommendations include enhancing regulatory clarity, fast-tracking rulemaking, and modernizing banking practices, while reaffirming opposition to U.S. central bank digital currency, aiming to promote innovation and protect investors.

The SEC has intensified scrutiny on crypto staking, arguing that certain programs may be unregistered securities. A recent lawsuit against Coinbase indicates a focus on how staking services are marketed rather than the staking itself. This regulatory shift complicates compliance for both centralized and decentralized providers as firms reassess their strategies amid evolving legal standards.

On July 17, 2025, the U.S. House passed H.R. 3633, the Digital Asset Market Clarity Act, aiming to establish regulatory structure for digital assets. It defines roles for the CFTC and SEC, introduces clarity on digital commodities vs. securities, and includes provisions for stablecoins and AML compliance. The legislation signifies a shift towards legislative clarity…

The GENIUS Act was enacted on July 18, 2025, establishing the first federal framework for regulating payment stablecoins in the U.S. It requires issuers to maintain 1:1 reserves, comply with consumer protections, and undergo audits. The Act aims to enhance regulatory clarity, consumer safety, and the dollar’s dominance in digital transactions.

On July 14, 2025, the Federal Reserve, FDIC, and OCC issued guidelines for banks engaging in crypto-asset custody, emphasizing risk management and regulatory compliance. The statement outlines responsibilities, including risk assessment, corporate governance, cybersecurity, and third-party oversight, while underscoring the need for proper safeguards and existing legal frameworks to be upheld.

On June 25, 2025, the California DFPI enforced the Digital Financial Assets Law against Coinme, Inc. for violating transaction limits and disclosure requirements. Coinme must pay $51,700 in restitution and a $300,000 penalty while complying with new regulations. This marks increased scrutiny in the crypto sector aimed at consumer protection.

On July 1, 2025, the SEC issued non-binding guidance outlining disclosure expectations for crypto asset ETPs. It aims to enhance transparency for investors by detailing requirements for risk disclosures, NAV calculations, service provider roles, and compliance. This guidance seeks to standardize the registration process and mitigate concerns surrounding crypto markets.