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17 Jul 2025

This half year in Crypto, H1 2025

Strategic Reserves, Regulatory Frameworks, BTC Treasury Company explosions, Stablecoins blossoming and Presidents launching and/or endorsing memecoins.
TWIC@2x
Preview
Regulatory clarity on its way
If 2021 was the year crypto entered the cultural mainstream, and 2024 the year of structural legitimacy via ETFs, then H1 2025 cemented regulation as crypto’s defining battleground.The most dominant and recurring regulatory theme was the GENIUS Act, a Senate bill backed by the Trump administration aiming to regulate USD-pegged stablecoins. Spearheaded by Senator Hagerty and enthusiastically endorsed by President Trump, the bill mandates 1:1 reserve backing, bankruptcy protections, and regular audits, pushing the U.S. closer to stablecoin parity with the EU’s MiCA framework. Treasury Secretary Bessent, a Trump appointee, further described stablecoins as “strategic financial infrastructure.”This U.S. pivot was mirrored globally: MiCA licenses were granted to Kraken and Coinbase, enabling unified crypto services across Europe; South Korea advanced an ETF framework; and Japan’s Metaplanet became the largest public corporate holder of BTC after buying more than 12,000 coins.
Strategic Bitcoin Reserves and a digital asset stockpile
The Trump administration’s pro-crypto posture set the tone across H1. In addition to stablecoin legislation, it advanced a bold initiative.
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