Crypto News Today – May 2025 Roundup: What's Coming in June?

SEC Officially Drops Lawsuit Against Binance and CZ

In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against Binance and its founder Changpeng Zhao (CZ). This 2023 case had long cast uncertainty over the exchange’s future, and the dismissal signals a pivotal moment in the U.S. crypto policy shift.

Legal analysts believe this is part of the Trump administration’s broader effort to reposition the U.S. as a pro-crypto environment and roll back regulatory crackdowns from prior years.

GENIUS Act Moves Forward in U.S. Senate

The Senate has passed the GENIUS Act, a comprehensive bill designed to regulate stablecoins in the U.S. Key points include:

Required 1:1 fiat reserves for issuersRegular third-party auditsAML/KYC compliance protocolsFederal licensing structure

The bill is now headed for reconciliation with the House version and is expected to become law before summer. The crypto community views it as a balanced approach to enabling innovation while protecting consumers.

Hong Kong Passes Stablecoin Licensing Law

Hong Kong has enacted a new law establishing a licensing regime for fiat-referenced stablecoin issuers. This makes Hong Kong one of the first regions to provide a clear legal framework for stablecoins, aiming to attract global crypto firms seeking regulatory certainty in Asia.

This legislative move also aligns with Hong Kong’s broader ambition to become a Web3 innovation hub.

Reform UK Proposes Pro-Crypto Legislation for London

Nigel Farage, leader of Reform UK, has announced plans to introduce a "Cryptocurrency and Digital Finance Bill" if elected. The bill would:

Implement a 10% capital gains tax on cryptoSupport the creation of a national digital reserveExpand fintech-friendly policies to turn London into a global crypto hub

This proposal marks a sharp pivot from past UK policies and aims to re-establish Britain as a leader in digital financial innovation.

Crypto Scams and Security Breaches in the Spotlight

🧑‍💻 U.S. Sanctions Funnull Technology

The U.S. Treasury Department has blacklisted Funnull Technology, a Philippines-based firm accused of facilitating thousands of crypto scam websites. Estimated damages exceed $200 million, making this one of the largest scam networks ever exposed.

High-Profile Crypto Kidnapping in New York

Michael Carturan, an Italian crypto investor, was kidnapped and held hostage for 17 days in New York. The attackers reportedly attempted to gain access to his Bitcoin holdings. All suspects are now in custody, and the case underscores growing security risks in personal crypto management.

What to Expect in June?

With regulatory fog clearing and global frameworks forming, June could bring:

GENIUS Act finalizationMore institutional crypto adoptionHong Kong attracting major stablecoin players

Stay alert for market momentum fueled by this regulatory progress.

Summary: Crypto Enters a New Phase of Maturity

May 2025 brought a mix of regulatory progress, international crypto adoption, and a stark reminder of ongoing security challenges. While the market remains volatile, the legal and institutional groundwork being laid points to a more structured and mature future for digital assets.

Whether it's the SEC stepping back, stablecoin laws getting real, or countries racing to attract crypto innovation, the trend is clear — crypto is here to stay, and governments are finally catching up.

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