The US is shifting toward lighter, innovation-friendly crypto regulation, with moves like the FIT21 Act, a repeal of SAB 121 and a more lenient SEC approach.

, but the rules governing it remain a tangled web of state laws, federal agency guidelines and developing court rulings. With the US moving toward clearer policies, crypto investors and innovators are left navigating a fragmented regulatory space. This article discusses current US crypto regulations, explores major regulatory challenges and the country’s stance on crypto, and examines the relevance of current US rules to traders and the larger industry.

Crypto regulations are legal frameworks set by governments to manage the creation, trading, taxation and use of digital assets. These regulations aim to protect consumers, prevent illegal activities and maintain market integrity.

The US regulatory stance on cryptocurrency in 2025 is moving toward greater clarity and support for innovation, though a unified federal framework is still in the works. 

, passed by the House of Representatives in 2024, aims to establish comprehensive rules for digital assets but has yet to be fully implemented. Signaling a more crypto-friendly direction, the Trump administration issued an 

 in January 2025 to create the President’s Working Group on Digital Asset Markets, with the goal of “providing regulatory clarity and certainty.” Chaired by David Sacks, the group is tasked with reviewing current laws and recommending reforms to encourage responsible innovation.

Federal agencies are gradually shifting their approach. The Securities and Exchange Commission (SEC), traditionally strict with crypto enforcement, has formed a dedicated 

. This group is working to simplify registration processes, outline disclosure expectations and provide clarity as to which tokens qualify as securities. Notably, the SEC has softened its stance on certain categories of cryptocurrencies, such as 

, indicating they may no longer be treated as securities.

Banking regulators have also relaxed their oversight. The Federal Reserve 

 prior guidance requiring banks to notify regulators before engaging in crypto-related activities, opting instead for standard supervisory oversight. Likewise, the Federal Deposit Insurance Corporation (FDIC) has 

 that banks can participate in permissible crypto activities without prior approval as long as they manage risks appropriately.

State-level regulations, however, remain highly fragmented. 

 with crypto-friendly policies, offering clear licensing and legal protections that attract 

 businesses. In contrast, some states still maintain stricter or underdeveloped frameworks, resulting in a regulatory patchwork that complicates compliance for companies operating across state lines.

In other developments, the federal government has launched the 

, an unprecedented move that integrates digital assets into national infrastructure planning. While this initiative signals strong institutional interest, it also introduces new compliance challenges for both government agencies and market participants.

What regulatory issues exist for cryptocurrency?

Cryptocurrency regulation in the US in 2025 continues to grapple with several persistent challenges, despite efforts to establish clearer frameworks. 

Why this matters for crypto traders and the industry

As crypto matures from the fringes of finance into the mainstream, clear rules and oversight are needed to protect individuals and to nurture a stable, trustworthy ecosystem that benefits everyone involved.

The US is transitioning toward a pro-innovation crypto regime, with emphasis on deregulation, legislative clarity and strategic asset management. Its nascent administration has signaled a significant departure from the previous enforcement-heavy approach, prioritizing regulatory clarity and industry growth. Key actions include the January 2025 executive order establishing an interagency task force to review and potentially rescind restrictive regulations, alongside the SEC’s dismissal of high-profile cases against Coinbase, Robinhood Crypto and OpenSea. 

Meanwhile, the SEC’s Crypto Task Force, led by Hester M. Peirce, aims to streamline registration paths for tokens and clarify jurisdictional boundaries, particularly for meme coins, which the SEC no longer classifies as securities. In addition, the 

 removes barriers for banks offering crypto custody services, thus encouraging institutional participation.

Bipartisan efforts are gaining momentum in the push to formalize crypto oversight, with stablecoin regulation leading the charge. Key proposals like the 

 are pushing for requirements such as 1:1 reserves, regular audits and greater transparency from issuers, bringing stablecoins more in line with traditional financial standards. 

 and SEC are working out jurisdictional boundaries, and Congress is expected to pass market structure legislation that will determine whether crypto assets are classified as securities or commodities. These moves are designed to reduce the regulatory landscape’s current fragmentation, as stablecoins now face a patchwork of state-level regulations that drive up compliance costs.

The US federal government is moving toward a clearer and more innovative crypto regulatory regime, making efforts to streamline oversight, push institutional adoption and integrate digital assets into economic strategy. However, until federal policies fully align and state differences are reconciled, the regulatory environment for crypto in the US remains complex and dynamic. Traders and industry players need to understand this complex but maturing environment in order to navigate risks and grab emerging opportunities.

Intermediate

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Crypto regulations in the US: Navigating a complex landscape

Reports following Ether's landmark surge on May 7, 2025 largely attribute this rally to the completion of the Pectra upgrade.

Ether has recently regained its status as the crypto golden boy, leading a rally since May 7, 2025 that’s outpaced both Bitcoin and most altcoins. This unusual performance has prompted market observers to speculate on the reasons behind it, and whether this impressive trend will continue.

The ETH/BTC ratio has been declining since January 2024, when the SEC 

In Q1 2025, disappointment in Ether's performance reached its peak, driven by market drawdowns and concerns about Ethereum Foundation leadership, leading to a significant exit of investors from the world’s second-largest cryptocurrency. However, on May 7, 2025, the market narrative changed abruptly as Ether surged over 20% in just one day.

Reports following Ether's landmark surge on May 7, 2025 largely attribute this rally to the completion of the 

 upgrade. While the timing of the upgrade coincides perfectly with Ether's rebound, however, this view doesn't capture the full story.

Historically, the ETH/BTC ratio began to rebound two months before the official completion of 

. Similarly, the Pectra upgrade had been anticipated for some time. Despite its smooth execution, the market had low expectations regarding challenges in Q1 2025.

Moreover, Ether's resurgence coincided with BTC surpassing $100,000, as broader risk assets rallied due to positive developments in US tariff negotiations with the UK and China.

In summary, the overall asset rally triggered Ether's rise, while the Pectra upgrade enhanced its performance against Bitcoin. Additionally, Ether's strong outperformance over other altcoins likely resulted from significant short liquidations.

In the days following Ether's record rally, ETH experienced over $500 million in short liquidations. This phenomenon significantly contributed to the unusual surge of more than 20% in a single day for a leading token such as Ether.

The most common criticism of Ethereum is that it loses revenue to 

 (DEXs) for Ether has consistently declined, partly due to competition from other 

 blockchains such as Solana, as well as Ethereum's own L2 networks. Since most L2 solutions have their own utility tokens, the activities conducted on these platforms don’t directly generate fees for L1, since they bundle transactions and post them to the Ethereum Mainnet.

This dilemma doesn’t appear to have a quick fix. In the medium term, Ethereum’s key value proposition may need to shift from that of a profit-generating blockchain with a 

 asset to one that functions as a financial instrument that’s akin to a bond.

Ethereum’s staking feature has yet to face direct competition, and the amount staked within the ecosystem continues to grow. As of Q1 2025, approximately 34 million ETH are staked, yielding an annual return of 2.9%.

Ongoing developments in Hong Kong and Canada may allow ETH Spot ETFs to incorporate staking features. Notably, the Pectra upgrade increases the staking limit for each node from 32 ETH to 2048 ETH, which could incentivize ETF issuers to operate their own nodes in the future. Adding staking rewards to ETH Spot ETFs could enhance their attractiveness, especially as the Fed eventually returns interest rates to more typical levels.

With a 2.9% return on Ether staking, Ether is increasingly positioned as a bond-like investment.

Ethereum’s leadership change and future outlook

Vitalik Buterin’s recent proposals for Ethereum

Ethereum co-founder Vitalik Buterin recently 

 his vision for simplifying Ethereum's Layer 1 in a post titled 

, emphasizing that scalability alone is insufficient: Ethereum must also be understandable, maintainable and secure in order to reliably serve as a platform for civilization’s assets. Buterin proposes a significant reduction in complexity, aiming for an Ethereum that will be as simple (within five years) as Bitcoin is now. He believes that a simpler protocol will enhance security, attract more developers and facilitate easier upgrades.

To achieve this, Buterin introduces a beam chain proposal that aims to streamline consensus by reducing technical complexity, eliminating epochs and sync committees, simplifying fork choice rules and enhancing the validator lifecycle for easier onboarding and recovery. He advocates replacing the current Ethereum virtual machine (EVM) with RISC-V, a more efficient, general-purpose virtual machine. This transition promises a clearer specification that will reduce bugs and maintenance challenges; more flexibility for developers to use various programming languages; and the potential to increase throughput by 100 times.

To address existing applications, Buterin suggests a phased transition that introduces RISC-V precompiles and allows dual deployment options during the shift, gradually moving legacy features out of the core protocol to keep it lean. He also calls for standardizing tools within the network to reduce redundancy and complexity, proposing a unified encoding system, shared data splitting methods and a simpler state structure. Ultimately, Buterin believes that regaining simplicity is essential in order for Ethereum to maintain its flexibility and durability as it scales.

With a new road map for Ethereum and proposed leadership 

 to the Ethereum Foundation to make the Ethereum guardian more accessible, we believe Ethereum has more upside coming.

Advanced

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Bybit Crypto Insights Report: Is Ether regaining favor? How far will it go?

Unichain, Uniswap’s L2 network, now handles over 76% of Uniswap v4 volume, driven by UNI incentives and its new Rollup-Boost feature. 

The S&P 500 jumped 3.26% as US-China tariff easing lifted market sentiment. Investors now await CPI and retail data for signs of inflation trends under the new trade regime. Gold fell near $3,208 as easing US-China trade tensions reduced safe-haven demand. With CPI data ahead, further downside is likely. Technicals suggest bearish momentum, with key support at $3,202. The Coindesk Indices, which tracks the broader crypto market, fell 1.97%, with Bitcoin and Ether down 2.53% and 0.95%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is RUNE, which surged by 4.4% following the completion of Halborn's security audit for Rujira Network's omnichain DeFi layer on THORChain.

THORChain (RUNE), created in 2018, is a decentralized protocol enabling native asset swaps across blockchains without wrapping. Built on Cosmos SDK and Tendermint, it uses Proof-of-Stake and Byzantine Fault Tolerance for secure cross-chain transactions. Halborn has 

 a smart contract security audit for Rujira Network, which is building an omnichain DeFi app layer on THORChain. Rujira enables seamless access to DeFi apps using native assets across connected chains.

Check out the latest prices, charts, and data of 

Unichain, Uniswap’s L2 network, now handles over 76% of Uniswap v4 volume, driven by UNI incentives and its new Rollup-Boost feature. This upgrade enhances MEV handling, cuts failed transaction gas costs, and sets the stage for Flashblocks—an upcoming 200ms block time system. Despite v4’s growth, Uniswap v3 still leads in total volume. The aim of Unichain is to solve Ethereum mainnet and L2 liquidity fragmentation while improving speed and decentralization.

Yesterday, BTC spot ETFs saw total outflows of $64.2 million, with $32.9 million from GBTC and $31.3 million from all other ETFs combined.

Multipli’s Season 1 has ended with 359.2M ORBs distributed (50% of supply). 

, allocating 30% of ORBs. Users can continue earning by keeping funds on mainnet or testnet—no action required. New users can join via testnet (free) or deposit stablecoins on BSC/Ethereum.

Beginner

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Unichain leads Uniswap v4 activity with rollup-boost upgrade and upcoming flashblocks feature

Ethereum surged 29% this week, breaking a 10-week downtrend and catching short sellers off guard with $400M liquidated. 

The S&P 500 extended its rally with a nine-day winning streak, its longest since 2004, as optimism over potential trade deals and upcoming Fed and earnings updates lifted sentiment. Gold rose to $3,245 on trade uncertainty and Fed rate cut hopes. CoinDesk Indices, which tracks the broader crypto market, fell 1.50% in the past 24 hours, while Bitcoin and Ether dropped 0.10% and 0.51%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is AI16Z, which surged 7.0% after Bonsai's smart media protocol integrated with Eliza to empower agent-driven social content creation.

elizaOS (AI16Z), launched in October 2024, formerly ai16z, is a Solana-based DApp that uses a DAO and an AI agent, "Marc AIndreessen," to manage community-driven investments in tech and crypto projects. 

, lets developers create agent-driven social media scripts and templates using ElizaOS plugins. The Bonsai Client, its first implementation, enables easy deployment of these smart media agents on platforms like Lens. Builders can explore these tools and compete for prizes in the Lens Spring Hackathon.

Ethereum surged 29% this week, breaking a 10-week downtrend and catching short sellers off guard with $400M liquidated. Despite muted ETF flows and neutral derivatives sentiment, ETH’s dominance remains unshaken—boasting $64B in TVL, dwarfing Solana, BNB Chain, and Tron combined. With fresh momentum from the recent pectra upgrades and Trump distancing from rival altcoins, all eyes are now on a potential push toward $2,700. 

BTC spot ETFs saw $920.9M in net inflows this week, driven by $1.09B into non-GBTC funds despite $171.5M outflows from GBTC. Since inception, total net inflows stand at $41.1B.

 are now live and claimable as a small bonus for users farming the upcoming Aster (AST) airdrop. By depositing BNB to mint asBNB, users can start earning points toward both the main airdrop and future ecosystem rewards. Optional perp trading can boost points further, but simply holding asBNB is enough to qualify.

Ethereum outperforms with a 20% rally as fresh capital flows in and undervaluation signals flash

GameFi

Altcoins

Explainers

GAIMIN is a gaming infrastructure platform that allows users, primarily gamers, to share their idle GPU processing capacity in exchange for GMRX rewards.

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Despite the immense potential of blockchain gaming, many decentralized platforms are struggling to accommodate the processing demands of modern, visually rich games. These demands are only increasing as newer and more visually sophisticated titles hit the market. The blockchain gaming sector is gasping for more GPU power to support itself and grow further. Additionally, other GPU-intensive solutions, such as AI computations and a variety of rendering services outside of the gaming industry, are also eagerly looking for additional GPU muscle.

At the same time, vast amounts of GPU processing capacity worldwide remain unused or underused. This is particularly evident with the computers of gaming enthusiasts who typically don't mind fitting their machines with the most powerful GPUs they can afford. Beyond the hours when the gamers utilize their machines, the GPUs remain virtually unused.

) that provides crypto rewards to gamers and other users who contribute their idle GPU data processing power to its platform. The contributed processing capacity is used to support the computing demands of blockchain games, AI platforms and other GPU-intensive solutions.

Having recently launched its native cryptocurrency, GMRX, the GAIMIN project aims to cultivate and support a large gaming experience ecosystem through its game launchpad. Besides its decentralized GPU provision platform and gaming launchpad, the GAIMIN ecosystem includes a professional esports team, a cross-game 

 trading marketplace and a watch-to-earn service that lets users earn cryptocurrency rewards by viewing gaming-related video streams.

 (GMRX) is a blockchain-based app that facilitates the sharing and utilization of GPU processing capacity over a decentralized network. 

Participation on its platform is open to anyone, though it primarily targets the PC gamer community. GAIMIN’s product line also includes a launchpad for games, cross-game NFTs called Digital Game Assets (DGAs), a marketplace for trading DGAs and other gaming assets, a watch-to-earn service and a professional esports team — the Gaimin Gladiators.

GAIMIN lets gamers contribute their idle GPU capacity in exchange for crypto rewards. The capacity pooled by the platform is then used to support various GPU-intensive use cases and applications in areas such as gaming, computer rendering and AI processing.

The GAIMIN platform was founded in Manchester, U.K., in 2017 and is based on the BNB Chain (

). While GAIMIN has rapidly expanded since its founding, it only recently launched its crypto token, GMRX, on Mar 26, 2024. In February 2024, GAIMIN also announced its partnership with BNB Chain and Movement Labs, an open-source 

 blockchain network, to develop its own Layer 2 scalability solution.

GAIMIN's key team members comprise six founders, each one bringing valuable expertise to the project: 

You can join the GAIMIN platform by downloading its Windows-based desktop app from 

. The app gives you the option to set the percentage of your GPU’s processing capacity that you’d like to share with the platform. Naturally, the more capacity you provide, the more GMRX crypto rewards you can earn. Simply leave your PC running so the GAIMIN app can access your GPU. As the platform sources your GPU processing power, you earn passive rewards in crypto.

 website is designed for entities who would like to access the GPU capacity that’s contributed to the platform. Typically, these are companies and internet startups developing systems with significant GPU consumption requirements, utilized in various sectors such as gaming (including web3 gaming), 

 and solutions tailored for the film and animation industries.

Consumers of the GPU capacity provided by GAIMIN can take advantage of the platform’s AI decision-maker component, a tool designed to guide clients on the best options for their GPU jobs based on the current level of activity on the network. The AI engine analyzes the jobs being completed and queued, as well as currently available devices and processing capacity. It then provides the client with optimal task completion options.

In addition to its decentralized GPU capacity-sharing solution, GAIMIN's product line includes several other products, all of them focused on the 

 gaming niche and the needs of the global gaming community.

GAIMIN’s game launcher is designed to facilitate the launch of 

 games that can take advantage of the platform’s GPU data processing power. The game launcher is still a new product, with more substantive activity on it likely to begin later in 2024.

Another key feature of the GAIMIN platform is an NFT marketplace where you can trade in-game assets, gift cards and special cross-game NFTs called Digital Game Assets (DGAs).

DGAs are web3 digital gaming assets in the form of NFTs that can be used across different gaming platforms instead of being restricted to only one game. They’re tied to a specific decentralized user identity, and are easily portable for use in many gaming environments where the owner might have accounts.

GAIMIN implements DGAs via its GAIMCRAFT technology, a development framework that helps integrate web3 features into traditional Web 2.0 games.

To demonstrate the merits of GAIMCRAFT and DGAs, GAIMIN has already implemented cross-game asset functionality for two legendary titles — 

GAIMIN has partnered with Twitch, a major video streaming platform for gamers, to provide a service called Watch and Earn. Simply by watching Twitch gaming streams, users can earn rewards in GMRX.

Esports is one of the most popular and high-growth areas in the gaming industry, and GAIMIN has dedicated significant resources to this area. The project’s professional esports team, Gaimin Gladiators, competes in a number of high-profile tournaments and boasts significant international achievements, such as a top 5 spot in the world 

 rankings and winning the 2023 PUBG Mobile Pro League European Spring championship.

Gladiators is a key endeavor of GAIMIN that’s aimed at developing its brand within the esports gaming community. The Gladiators team also contributes to the project’s revenues through sponsorships and brand partnership deals.

The platform’s native crypto, the GMRX token, has the following functions and use cases:

Additionally, the GAIMIN team is considering several potential future use cases for GMRX. These include gamified 

 token with a maximum and total supply of 100 billion. The token’s supply distribution shares are per the chart below:

As of Apr 3, 2024, the GMRX token has been on the market for just a week and is trading at $0.0193. The current price is 41.9% lower than its ATH of $0.03291, registered on the day of its launch on Mar 26, 2024, and 32.8% higher than its ath of $0.0144 on Mar 30, 2024.

Long-term price forecasts for GMRX are just starting to appear on major prediction portals, and they seem to indicate a bullish outlook, particularly over a multi-year period. PricePrediction 

 at $0.0414 in 2025 and $0.356 in 2030, while DigitalCoinPrice 

Although GMRX is new on the market and has limited trading history, some early indicators are pointing to the token’s significant potential:

1. GMRX has had a particularly fine start via 

 platform. At least 65,000 people took part in the IDO campaign held between Mar 19–27, 2024. The token then hit 200x quickly after its Spot listing on Bybit. These figures indicate the token’s early popularity among crypto traders, many of whom are undoubtedly also gaming enthusiasts.

2. GAIMIN is distinct from numerous decentralized computing platforms in terms of its focus on the gaming industry and gamers. Many other blockchain platforms are competing in the niche of decentralized processing capacity trading or sourcing, a model known as 

 (decentralized physical infrastructure network). However, virtually no other notable DePIN project focuses as much on the gamer community as does GAIMIN. Given that the number of PC gamers worldwide is approaching 2 billion, GAIMIN has a vast target audience at its disposal.

3. GAIMIN has a number of projects and product concepts in the pipeline. Some of these will likely provide it a significant competitive advantage. Notably, the Layer 2 platform that the project team is working on could turn out to be a game-changer (no pun intended). BNB Chain, on which GAIMIN is based, doesn't really have the same degree of network congestion that blights 

 (ETH), the world's premier DApp blockchain. 

Still, moving to a dedicated Layer 2 platform will help GAIMIN-based games achieve considerable performance and cost improvements. The launch of the Layer 2 network could act as an important catalyst for the GMRX token's price growth in the future.

You can buy the GMRX token on Bybit via a Spot pair with USDT (

). Moreover, you can take part in Bybit's 

 for new and existing users for the chance to win a share of the 50,000 USDT prize pool. The campaign will run until Apr 9, 2024, 8:59AM UTC.

With over 1.8 billion GPUs owned by PC gamers worldwide, the GPU computational power-sharing model championed by GAIMIN holds unlimited potential.

This is still a new platform, and its native token was launched just days ago. Most engagement and platform features are still at the stage of a minimum viable product (

). As such, GAIMIN currently draws on a line of credit built on trust and expectations. Expectations are justifiably high, though, and if GAIMIN is able to attract even a tiny proportion of the 1.8 billion–strong target market, we’ll witness the rise of a true blockchain gaming leader.In the meantime, if your computer has at least 4GB of RAM (a minimum requirement mandated by the app) and a GPU capable of supporting anything a bit more advanced than 

, give GAIMIN a go and stock up on those GMRX tokens.

GAIMIN (GMRX): Where Gaming Meets Decentralized Computing

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