A new chapter for cryptocurrencies in the U.S.?
The regulatory landscape for cryptocurrencies in the United States is undergoing significant changes in May 2025. The "Financial Innovation and Technology for the 21st Century Act" (FIT21) aims to establish a clear framework for digital assets, assigning responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The bill was passed by the House of Representatives in May 2024 with bipartisan support.
However, the path to implementation has not been straightforward. Recently, nine Democratic senators withdrew their support for a bill related to stablecoins, citing concerns about money laundering and national security.
Additionally, a new law has granted the president broad powers to block access to digital assets related to sanctioned foreign entities, generating debates about privacy and decentralization.
In this context, President Trump's executive order in January 2025 prohibits the creation of central bank digital currencies (CBDCs) in the U.S., while promoting the use of dollar-backed stablecoins and regulatory clarity.
