U.S. President Trump has signed an executive order to establish a strategic Bitcoin reserve, committing to retain and accumulate the government's 200,000 BTC holdings. This move, announced on March 6, 2025, aims to manage the reserve in a budget-neutral manner. Additionally, on July 18, Trump enacted the 'Genius Act' to regulate dollar-pegged stablecoins, marking a significant step in U.S. crypto regulation. In parallel, Hong Kong's new stablecoin regulations came into effect on August 1, setting up comprehensive licensing, reserve, and redemption frameworks. These regulatory developments reflect the cryptocurrency industry's evolution over 16 years into a $3.5 trillion market, highlighting its integration into mainstream financial systems as regulatory scrutiny intensifies.