🇺🇸 USA: FIT21 — Financial Innovation and Technology for the 21st Century Act
In May 2024, the US House of Representatives passed the FIT21 bill, which:
Divides digital assets into three categories:
Digital commodities are under the supervision of the CFTC.
Restricted digital assets are under the supervision of the SEC.
Permitted payment stablecoins
Defines that decentralized blockchains fall under the jurisdiction of the CFTC, while centralized ones fall under the SEC.
Introduces a self-certification process for digital commodities.
Excludes certain stablecoins from SEC and CFTC regulation, except in cases of fraud.
This bill received bipartisan support despite opposition from the SEC and the Biden administration.
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🇬🇧 United Kingdom: New rules for cryptocurrency exchanges
In April 2025, the UK government introduced a bill that:
Requires cryptocurrency exchanges to adhere to standards of transparency, consumer protection, and operational resilience.
Exempts foreign stablecoin issuers from local regulatory requirements to attract innovation.
This approach aims to strengthen the UK's position as a fintech hub.
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🇪🇺 EU: MiCA Regulation
As of December 2024, the MiCA (Markets in Crypto-Assets) regulation is in effect in the European Union, which:
Establishes uniform rules for cryptocurrencies, stablecoins, and service providers.
Requires licensing and compliance with security standards.
Provides "passport" access to the entire EU market for licensed companies.
This is the world's first comprehensive regulation for the crypto market.
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🧾 Other initiatives in the USA
Digital Asset Anti-Money Laundering Act: Extends anti-money laundering requirements to digital asset providers.
Strategic Bitcoin Reserve: President Trump announced the establishment of a strategic reserve of bitcoins and digital assets, which caused controversies in the industry.
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📌 Conclusion
The world is moving towards clearer regulation of digital assets. This could facilitate the legalization and widespread adoption of cryptocurrencies but also requires market participants to carefully monitor changes in legislation.
