The curtain on 2024 is dropping soon, and it is time to take a look back at all the big milestones the crypto industry has seen this year. It was a big year for crypto, with the crypto regulation and market witnessing significant developments.
Some of them include, the Ripple v. SEC trial reaching a conclusion, spike in institutional interest, Trump’s election win and pro-crypto stance, and the big one – Bitcoin crossing the 100K mark.
Crypto has never been more accessible and widely accepted among individual investors and institutions alike. As per research, the crypto market revenue worldwide is nearly $56.7 Billion this year.
It is projected to reach $45.3 Billion in 2025. In the US alone, this figure is could reach $45.3 Billion by 2025, despite regulatory uncertainty and challenges.
That said, the regulatory landscape in the US looks on the verge of change. The Trump administration is expected to take a more pro-crypto stance, with promises made to that effect.
Is This The Most Pro-Crypto Congress Yet?
President-elect Donald Trump has made many promises to the crypto industry. Firing Gary Gensler, creating a “strategic Bitcoin reserve,” and creating a more supportive environment for the crypto industry, are some of them.
This has filled industry stalwarts and regular investors alike, with hope for much-required clarity on several aspects within the sector. That Gary Gensler is set to resign next month is perhaps only the beginning of what could possibly be a new era for the cryptocurrency industry in the US.
“Stars Have Aligned” For Clarity in Crypto Regulation
The US House Financial Services Committee, a congressional committee overseeing legislation on financial services, is expected to make and expedite important decisions for the crypto industry. Leading its digital asset-focused panel is Rep. French Hill.
He has prior experience in important crypto-regulatory work on stablecoins, and the FIT21 legislation. Which means he is a likely candidate to facilitate and promote crypto regulatory clarity.
Reportedly, he has stated his intention to prioritize FIT21 and stablecoin legislation, saying they will be “top priority.” One might say, “The stars have aligned for crypto clarity.”
Will Donald Trump Deliver?
It is clear the crypto industry is pushing for “sea change” and expects Trump to deliver on all the promises he has made starting next month, as soon as he takes office. Reportedly, Trump plans to issue a “flurry of executive orders” on his first day in office on January 20, 2025.
There is much anticipation on this topic, with constant reports and discussion on social media. The emphasis on urgency is evident as this has been a long awaited and essential change that will have a huge impact on the future of the crypto industry.
Significant Areas For Crypto Regulation Reform In 2025
Here are some key areas that are both highly anticipated and most likely to see action in the crypto regulation domain:
Stablecoins: Stablecoin regulation has been in the works for years, and will likely finally see the light of day soon. Opinions are varied among lawmakers, on a previously proposed Stablecoin bill. Reports suggest Hill may decide to reintroduce it.
According to Ron Hammond of the Blockchain Association, there is 75% chance the bill will pass in 2026. Yet he is hopeful for it to happen in 2025.
FIT21: Also known as the Market Infrastructure Bill, institutions are watching out for ongoing developments in the area. Under this legislation, the CFTC would gain more power with respect to digital commodities including Bitcoin and crypto spot markets.
Other areas likely to see crypto regulation reforms include strategic bitcoin reserve, crypto taxes, and DeFi.
