In the United States, momentum continued with the CLARITY Act advancing in the House, seen as a framework-defining bill despite concerns from former CFTC Chair Timothy Massad about potential overlaps ⎻ regulators like SEC and CFTC may act independently if Congress stalls. The GENIUS Act is also gaining traction ahead of a Senate vote. Meanwhile, the SEC is exploring formal DeFi regulation, advocating a shift from policing software to managing platform activities.

In Europe, France’s Societe Generale has announced USD CoinVertible, a dollar-pegged stablecoin built on Ethereum and Solana, launching later this summer, will mark the first of its kind from a major European bank. The UK’s FCA has proposed lifting its 2021 ban on retail investing in crypto-linked ETNs, signaling a more open stance—consultation closing in July. The FCA also appointed a new deputy CEO to oversee growing stablecoin and crypto oversight responsibilities.

Asia saw notable changes. In Singapore, MAS issued strict licensing requirements for DTSPs serving foreign clients, with a deadline of June 30 for penalties and a near-zero likelihood of approval for non-compliant. The Singapore High Court rejected WazirX’s restructuring following its $235 M hack, raising concerns about exchange resilience and consumer trust. The MAS also issued crypto wealth due diligence guidelines to ensure better investor protection.

The United Arab Emirates (UAE) enhanced its leadership in the digital asset space. Dubai’s VARA updated compliance rules, clarifying client‑asset custody, collateral, custodianship, and AML protocols ahead of a June deadline. The Central Bank of UAE-backed AE Coin the country’s first regulated stablecoin, began roll-out, accepted for payments by Air Arabia, and backed by major financial institutions. Additionally, Ripple received a DFSA license to offer its stablecoin RLUSD services, and partnerships with Zand Bank and Mamo illustrate a deepening cross-border payment ecosystem.

The UAE also topped global crypto-friendly rankings, credited to forward-thinking regulation and innovative drive. In Canada, crypto regulation continued to evolve, with ETFs receiving official approvals and blockchain integration gaining traction in financial infrastructure. In India, the RBI reaffirmed its cautious stance on cryptocurrency, citing financial stability risks amid ongoing policy reviews.

On the institutional front, Eric Trump backed American Bitcoin Mining disclosed a reserve of 215 BTC and plans for further accumulation via miner partnerships. In the interim, global stablecoin usage has exceeded 161 million users, with a 54% year-over-year supply growth, 2025 is poised as the breakout year for stablecoin adoption. Security and compliance developments included expanded global crypto tax-reporting standards under the OECD’s CARF framework, set to begin enforcement in many countries by January 2026.

In summary, markets showed healthy consolidation, while regulatory clarity improved across the U.S., Europe, UAE, and Asia, though more caution emerged in Singapore. Institutional participation continues to ramp up, with traditional banks, treasury-backed stablecoins, and regulated entities expanding crypto’s mainstream footing. Stablecoins and cross-border payments remain key growth areas, validated by major government and corporate initiatives.

Without a doubt, cryptocurrency is moving steadily into the mainstream. Regardless of geography or current regulatory stance, it’s increasingly clear that hundreds of millions of people globally will adopt digital assets, either for payments, investment, or innovation. The path forward now calls for clearer regulatory guidance and broader public understanding to support this growth, enabling responsible, high-level adoption at a universal scale.