$ETH Hong Kong introduced the ASPIRe Roadmap to position itself as a global cryptocurrency hub, while South Korea announced plans to ease institutional cryptocurrency trading restrictions by the end of 2025. Japan is considering classifying cryptocurrencies as securities, which could pave the way for spot Bitcoin ETFs.

Europe's Approach: The Markets in Crypto Assets (MiCA) regulation came into effect on December 31, 2024, with ongoing improvements regarding stablecoin compliance and licensing for Crypto Asset Service Providers (CASPs). The 16th EU sanctions package against Russia introduced designated crypto wallet addresses, signaling stricter enforcement mechanisms.

Developments in the U.S.: The re-election of President Donald Trump is expected to trigger a more crypto-friendly policy environment in the U.S. and globally. This shift contributed to Bitcoin reaching 100,000 USD by the end of 2024. However, the increase in liquidity may attract malicious actors, necessitating enhanced regulatory measures.