Crypto Regulation

New York City will host its first-ever Crypto Summit on 20 May as Mayor Eric Adams pushes to make the city a global leader in blockchain and digital assets. The event comes as Adams doubles down on crypto-friendly policies ahead of his 2025 re-election campaign.

A U.S. court has sentenced a man to 30 years for funding ISIS with crypto—marking one of the harshest penalties in digital asset-linked terrorism cases.

At the 2025 European Anti-Financial Crime Summit, the EU announced plans to tighten tracking of crypto transactions. The goal is to increase transparency by collecting data on both senders and recipients.

Ripple and the SEC have filed a joint motion to finalise a $50 million settlement and lift the injunction, moving to close their long-running case. However, SEC Commissioner Crenshaw strongly opposes the deal, warning it weakens investor protections and sends the wrong message to crypto firms.

Arizona has passed a new law allowing the state to take control of unclaimed cryptocurrency after three years. The assets will be managed in a reserve fund, with profits made through staking and airdrops—without using taxpayer money.

In a bold move that could set a national precedent, Arizona Governor Katie Hobbs signed House Bill 2749 into law on May 7, enabling the state to claim ownership of abandoned cryptocurrencies after three years of inactivity.

Lee Jae-myung, Democratic Party candidate for South Korea’s 2025 presidential election, promises crypto reforms, including reducing transaction fees and legalising Bitcoin spot ETFs to attract young voters. His proposal comes amid growing public interest in crypto, with recent polls showing him leading by 20 percentage points.

Bithumb has been added to South Korea's conglomerate watchlist, requiring stricter financial regulations due to its rapid growth in 2024. The Fair Trade Commission also included four other companies, while moving Dunamu to a lower category, as part of its ongoing efforts to regulate large firms in key sectors like crypto and defence.

The SEC has closed its investigation into PayPal’s stablecoin PYUSD without taking any action. This clears the way for PayPal to expand its crypto plans, including partnerships and a new rewards programme for users.

Canada has officially nominated Mark Carney as their next Prime Minister, as he takes on a key role in an uncertain economic context, and his monetary policy and cryptocurrencies could very well redefine the contours of the Canadian economy in the years to come.