State of Crypto: 2025 in review

A lot happened in policy tied to crypto this year. Congress passed — and the president signed — the first major piece of crypto legislation in U.S. history this year. Federal regulators have dramatically scaled back their enforcement actions against crypto companies while announcing more rulemaking efforts aimed at bolstering the industry. Companies themselves have felt more emboldened to launch new products and services in the U.S.

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The narrative

Last year, CoinDesk’s policy team explained what we’d be looking for in 2025. Here’s how we did.

Why it matters

This is the final…

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