In 2025, the United States made significant strides in cryptocurrency regulation by enacting key legislation that shifted the focus towards rulemaking and product development. This legislative progress included the passage of a stablecoin bill, which aimed to enhance liquidity and stabilize crypto markets. The Securities and Exchange Commission (SEC) concluded major legal cases, notably those involving Sam Bankman-Fried and Quan Dao, marking a pivotal year for regulatory enforcement. While broader market structure laws are still under negotiation, these developments reflect a global trend towards more comprehensive crypto regulation.