Overview
- Congress enacted the GENIUS Act on stablecoins, marking the first major U.S. crypto law signed by the president this year.
- The SEC dismissed most of the cases it brought last year as federal agencies pivoted toward new rulemakings intended to support clearer oversight.
- Negotiations on a broader market-structure bill continued without a deal, with key questions on agency jurisdiction and DeFi treatment still open.
- High-profile prosecutions largely advanced toward closure, with Sam Bankman-Fried pursuing an appeal, Roman Storm partially convicted with post-trial motions pending, and Do Kwon entering guilty pleas on some charges.
- Companies moved to launch more U.S. products as global rules grew more complex, including new licenses in the Middle East and Hong Kong preparing 2026 legislation for virtual asset dealers and custodians.