CryptoRegulation
On November 6, 2025, U.S. Congressman Sean Casten and 27 House Democrats opposed the pardon of Binance founder Changpeng Zhao, citing concerns over anti-money laundering violations and crypto crime. The letter calls attention to the need for accountability in the crypto industry.
At Hong Kong FinTech Week 2025, Standard Chartered's CEO Bill Winters predicted that nearly all global transactions will soon settle on blockchain ledgers. The bank is leading this shift by launching a Hong Kong dollar stablecoin and expanding digital asset services, benefiting from Hong Kong's supportive crypto regulatory framework. This move, echoed by other industry leaders, could transform cross-border transactions through near-instantaneous settlements.
On October 24, 2025, Senators Adam Schiff and Elizabeth Warren introduced a resolution condemning President Trump's pardon of Binance founder Changpeng Zhao, highlighting concerns of corruption and urging Congress to take action.
Top Democrats are investigating Binance CEO Changpeng Zhao's pardon application to former President Trump, amid concerns over conflicts of interest and ongoing crypto policy debates. The situation also ties into the controversial GENIUS Act, which could affect the stablecoin market.
In October 2025, the UK Financial Conduct Authority (FCA) proposed amendments to its cryptoasset regulations and addressed enforcement actions on fraud. Meanwhile, EU supervisory authorities reported on financial risks and compliance with the Markets in Crypto Assets Regulation (MiCA).
Amir Bruno Elmaani, known as "Bruno Block," received a four-year prison sentence for tax offenses tied to the Oyster Pearl (PRL) cryptocurrency, highlighting the serious consequences of non-compliance in crypto trading. The case underscores the importance of transparent and lawful conduct in crypto markets.
Senator Ron Wyden criticized the timing of a cryptocurrency tax hearing during the U.S. government shutdown, urging lawmakers to prioritize resolving the shutdown and supporting Americans. He highlighted uncertainties in crypto tax laws and the significant tax gap while calling for bipartisan and careful deliberation on crypto taxation.
Bitcoin soared above $120,000 in July 2025, marking a strong year-to-date gain of 25.9%. Despite some daily fluctuations and concerns over global interest rates, Bitcoin remains an attractive hedge against a weakening dollar. Legislative discussions in the U.S. also play a key role in shaping market sentiment.
Genesis Global Capital settles for $2 billion amid allegations of concealing losses from investors. At least 29,000 impacted through Gemini Earn program receive support from a newly created victims fund. This landmark settlement underscores the growing regulatory scrutiny of the crypto industry.
In 2024, major crypto players like Tether, Coinbase, Binance, TRON, and BitMEX face significant lawsuits alleging misrepresentation and unregistered securities sales, while the SEC and DOJ intensify investigations. Bitlet.app offers insights into how these legal battles impact the crypto ecosystem.