#CryptoRoundTableRemarks The Crypto Roundtable Remarks by TRM Labs offer in-depth analyses of global cryptocurrency policy developments. In Q1 2025, the U.S. witnessed significant shifts, including a new executive order emphasizing stablecoin adoption, regulatory collaboration, and a ban on central bank digital currencies (CBDCs). The administration also focused on combating illicit finance, particularly targeting cartels, Chinese money laundering networks, and cross-border crypto-related crimes. In Asia-Pacific, Hong Kong introduced the ASPIRe Roadmap to position itself as a global crypto hub, while South Korea eased institutional crypto trading restrictions. Europe's attention remained on the implementation of the MiCA regulation and enforcement of sanctions, with the EU's 16th sanctions package against Russia marking a significant development. Additionally, the quarter saw North Korea's record-breaking $1.5 billion hack of crypto exchange Bybit, highlighting the increasing sophistication of cyber threats in the crypto space.