Cryptocurrency Market Expansion and Regulatory Developments in 2025

The cumulative trading volume of U.S. spot Bitcoin ETFs is on track to surpass $1 trillion within less than 18 months of their debut. Meanwhile, South Korea is moving forward with legislation to regulate and legalize stablecoins, aiming to stimulate the domestic crypto market. Reports also indicate that Iurii Gugnin, the founder of Evita Pay, faces charges for sanction evasion and $500 million laundering, allegedly turning his crypto platforms into a covert pipeline for sanctioned entities. SocGen’s crypto division has launched a dollar stablecoin on Ethereum and Solana, with BNY Mellon acting as reserve custodian. In Japan, SBI Holdings has invested $50 million into Circle, highlighting substantial confidence in USDC’s future. Lastly, Guggenheim is broadening its cryptocurrency involvement by partnering with Ripple on a debt-linked product, signaling growing institutional interest.