Digital Asset Regulation Expected To Advance In 2025 Amid US Presidential Election

According to BlockBeats, a recent research report by blockchain infrastructure company Blockdaemon indicates that significant progress in digital asset regulation is anticipated by 2025, coinciding with the upcoming 2024 US presidential election. The report highlights two key regulatory policies currently in the legislative process: the proposal to repeal SAB 121 and the landmark '21st Century Financial Innovation and Technology Act' (FIT21). The FIT21 Act, which received bipartisan support, was passed by the House of Representatives in May 2024. The core provisions of this act include clearly defining the regulatory boundaries between the SEC and CFTC, establishing standards for identifying the commodity and security attributes of digital assets, and creating a legal framework for financial institutions to conduct digital asset custody services. Blockdaemon predicts that with strong bipartisan backing, the FIT21 Act is likely to pass the Senate and be signed into law in 2025, positioning the United States as a leader in balancing innovation with consumer risk. Previously, the SEC granted SAB 121 exemptions to the Bank of New York last month, and it is expected that other financial institutions will receive similar exemptions.