Top global developments in upcoming crypto regulation frameworks for this week:
🇺🇸 U.S. – CLARITY & GENIUS Bills Advancing
Congress moved forward with two key bipartisan crypto bills. The CLARITY Act passed key House committees and focuses on defining regulatory jurisdiction between the CFTC and SEC. Meanwhile, the GENIUS stablecoin bill is nearing a Senate vote. Additionally, the CFTC leadership nomination is progressing—creating momentum toward a finalized U.S. crypto framework .
🇪🇺 European Union – MiCA Stablecoin & Market Abuse Rules
The EU published technical standards under MiCA to curb market abuse—requiring crypto firms to monitor suspicious trades and submit reports. Draft rules for stablecoin issuers mandate high‑quality, liquid reserves and robust liquidity risk management .
🇬🇧 United Kingdom – FCA & Treasury Discussion Papers
UK regulators are building comprehensive crypto policy:
The FCA released a discussion paper outlining future rules on trading platforms, staking, DeFi, and consumer protections.
HM Treasury issued a draft regulation for stablecoins and crypto promotions, aiming to launch final rules in 2026 .
🇯🇵 Japan – Crypto as Financial Products
Japan’s FSA plans to reclassify crypto assets under securities-like regulations, enhance investor protections, reduce tax on trading (from 55% to 20%), and pursue spot Bitcoin ETF approval. The reforms are expected by mid‑2025, with legislation in 2026 .
🇮🇳 India – June Crypto Discussion Paper
India’s Ministry of Finance will publish a discussion paper in June 2025, seeking public and industry feedback on virtual digital assets regulation. This measured step will guide possible future legislation .
🇵🇰 Pakistan – Launch of Crypto Council
The newly formed Pakistan Crypto Council (PCC), government-backed and led by the Finance Ministry with Binance co-founder as adviser, is developing a regulatory framework and promoting blockchain/crypto oversight since March 2025 .
🌍 Global Moves
Rwanda plans its crypto regulator in Q1 2025, partnering with capital markets authority .
South Korea will issue institutional investment guidelines by Q3 2025, and may require pre-registration/reporting for cross-border crypto .
Russia advancing digital Ruble launch in 2025, plus 15% tax on crypto activity .
These initiatives reflect a clear trend: countries worldwide are formalizing crypto oversight via licensing, stability requirements, consumer safeguards, and inter-agency coordination.