In 2025, significant strides were made in cryptocurrency regulation, with major markets implementing structured oversight. The United States introduced the GENIUS Act, focusing on the regulation of payment stablecoins, while the SEC approved listing standards for commodity-based exchange-traded products (ETPs). In the European Union, the Markets in Crypto-Assets (MiCa) regulation established multi-issuance protections for stablecoins, enhancing market stability. Additionally, new custody rules for broker-dealers improved liquidity and transparency in crypto markets. The ongoing debate over the Clarity Act continued to influence the delineation of regulatory responsibilities among agencies. These regulatory developments aim to reduce market uncertainty and foster innovation within the crypto industry.