The United States has passed significant cryptocurrency legislation for 2025, establishing new rules for stablecoins and setting limits on central bank digital currencies (CBDCs). The stablecoin regulation mandates that issuers maintain high-quality liquid reserves, a move aimed at enhancing liquidity and stability in crypto markets. Additionally, the legislation includes a market structure bill that clarifies token classification, while CBDC restrictions are designed to safeguard user privacy. With the White House expected to sign the first law by mid-year, regulatory agencies are now tasked with implementing these new measures.