USDThis Week’s Global Policy Recap: Bitcoin Bonds, ETF Shifts, and Reserve Moves
![Robot rides across floating crypto laws [global adoption]](https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Robot_rides_across_floating_crypto_laws_global_adoption_029b8069bd.webp)
U.S. Labor Department Reverses 2022 Crypto Guidance, Encourages 401(k) Bitcoin Options
The U.S. Department of Labor has reversed its 2022 guidance discouraging cryptocurrency in 401(k) plans, marking a shift to a neutral regulatory stance that may enhance interest in digital assets for retirement portfolios. Previously, fewer than 1% of defined-contribution plans included cryptocurrencies, according to a 2024 GAO report. Secretary of Labor Lori Chavez-DeRemer criticized the former administration's approach as overreach. Concurrently, U.S. agencies like the FDIC and OCC are loosening crypto restrictions, indicating a broader institutional acceptance of digital assets, supporting their integration into financial systems while placing fiduciaries in charge of investment choices.
Bipartisan CLARITY Act of 2025 Introduced to Regulate Digital Assets and Define SEC, CFTC Roles
On May 29, 2025, US Representative French Hill introduced the bipartisan "Digital Asset Market Clarity Act of 2025," aiming to establish a regulatory framework for digital assets. Supported by lawmakers from both parties, the bill delineates the roles of the SEC and CFTC in overseeing digital assets, addressing longstanding regulatory ambiguities. Key provisions include requiring developers to disclose project details, and imposing compliance requirements on brokers and dealers, such as customer disclosures, asset segregation, and conflict of interest mitigation. Hill emphasized the act's focus on consumer protection and innovation in the evolving digital asset ecosystem.
Thailand to Block Bybit, OKX, and Three Other Crypto Exchanges on June 28 Over Unlicensed Operations
On June 28, 2025, Thailand's SEC will block five cryptocurrency exchanges, including Bybit and OKX, due to unlicensed operations and money-laundering concerns. This decision follows the Royal Decree aimed at combating technology crimes, effective since April 13. The SEC has advised investors to secure their assets before the shutdown. Complaints against the exchanges were filed for operating without valid local licenses. The regulator warns that users of unlicensed platforms face risks, including scams. Meanwhile, Thailand seeks to modernize its financial system, allowing crypto payments and planning to issue $150 million in digital investment tokens.
SEC Declares Most PoS Staking Activities Not Securities, Opens Door for Crypto ETFs
The SEC has clarified that certain Proof-of-Stake (PoS) staking activities do not qualify as securities transactions under federal regulations, potentially allowing crypto ETFs to incorporate staking features. The statement specifies that activities like solo staking and self-custodial staking are not subject to securities registration, as rewards are generated by network protocols rather than third-party efforts. This marks a significant regulatory shift, following similar guidance for Proof-of-Work mining in March 2025. However, Democratic Commissioner Caroline Crenshaw criticized this stance, arguing it misrepresents legal classifications and downplays the risks associated with crypto staking products.
NYC Mayor Eric Adams Announces Bitcoin Bonds at Bitcoin 2025 Conference
On May 28, 2025, New York City Mayor Eric Adams presented plans for Bitcoin Bonds at the Bitcoin 2025 conference in Las Vegas. While detailed structures are still unclear, the initiative seeks to incorporate bitcoin into municipal finance, reinforcing Adams' goal of establishing New York as the "crypto capital of the world." The bonds could be denominated in bitcoin or supported by bitcoin reserves. This announcement continues Adams’ history of crypto advocacy, notably his 2022 decision to accept his first three mayoral paychecks in bitcoin and ethereum, emphasizing his commitment to the cryptocurrency landscape.
Pakistan to Establish Strategic Bitcoin Reserve, Inspired by U.S. Initiative
Pakistan is set to launch a national strategic Bitcoin reserve, announced by Bilal Bin Saqib, the crypto assistant to the prime minister, at the Bitcoin 2025 conference. Inspired by the U.S., which implemented its own reserve following an executive order from President Trump, Pakistan aims to hold Bitcoin long-term without selling. The government also allocated 2,000 MW of surplus electricity for Bitcoin mining and AI data centers to boost revenue and attract foreign investment. Currently, Bitcoin is priced at $108,228.74. The U.S. holds over 198,000 BTC valued at approximately $21.2 billion from various sources, including criminal seizures.
Kazakhstan Launches "CryptoCity" Pilot Zone for Cryptocurrency Payments and Adoption
Kazakhstan plans to establish "CryptoCity," a pilot zone for cryptocurrency payments and adoption, announced by President Kassym-Jomart Tokayev at the Astana International Forum 2025. This initiative aims to create a regulatory sandbox for digital assets, with potential locations being explored, particularly in Alatau, a research hub. The project seeks to facilitate cryptocurrency use in various sectors, including real estate and local services. Officials highlight the importance of developing a crypto-friendly legal framework to attract developers and specialists, boosting the economy and positioning Kazakhstan as a leading crypto hub in Central Asia.
Bank of Russia Allows Qualified Investors Access to Non-Deliverable Crypto Derivatives
The Bank of Russia announced on May 29, 2025, that qualified investors can access non-deliverable crypto derivatives, marking a cautious regulatory step towards crypto exposure. These products, linked to cryptocurrency prices, cannot result in actual ownership of assets like Bitcoin or Ethereum. The policy aims to develop Russia's crypto infrastructure post-Ukraine sanctions while ensuring investor protection. The requirement for "particularly qualified" investors includes having over $1.1 million in assets or earning above $550,000 annually. This shift follows a history of strict regulations and aims to integrate crypto into Russia's financial system amid global isolation.
Bolivia Bans YPFB from Using Cryptocurrencies for Energy Transactions
Bolivia's President Luis Arce signed Executive Order 5399 on May 23, prohibiting the state-owned oil company YPFB from using cryptocurrencies for energy-related transactions. This decision aims to curb speculation surrounding cryptocurrencies and stablecoins, particularly concerns over exchanges like Binance. Although YPFB had not engaged in crypto transactions due to a lack of acceptance within the oil industry and unclear regulations, the executive order addresses rising speculation affecting exchange rate expectations. YPFB's president noted that national exchange volumes are too low for significant fuel purchases, effectively halting any immediate plans for cryptocurrency use in energy settlements.
This article has been refined and enhanced by ChatGPT.
![Robot leaps between pastel staking vaults for ETH, SOL [ETF]](/_next/image?url=https%3A%2F%2Fprod-coin360-cms.s3.eu-central-1.amazonaws.com%2FRobot_leaps_between_pastel_staking_vaults_for_ETH_SOL_ETF_249a05ce76.webp&w=256&q=75)
![Robot tokenizes XRP real estate via floating asset vault [XRP]](/_next/image?url=https%3A%2F%2Fprod-coin360-cms.s3.eu-central-1.amazonaws.com%2FRobot_tokenizes_XRP_real_estate_via_floating_asset_vault_XRP_e72c504409.webp&w=256&q=75)
![Robot dashes through crypto vault with glowing Bitcoin [treasury] orb](/_next/image?url=https%3A%2F%2Fprod-coin360-cms.s3.eu-central-1.amazonaws.com%2FRobot_dashes_through_crypto_vault_with_glowing_Bitcoin_treasury_orb_f4a11d0263.webp&w=256&q=75)
![Robot rides across floating crypto laws [global adoption]](/_next/image?url=https%3A%2F%2Fprod-coin360-cms.s3.eu-central-1.amazonaws.com%2FRobot_rides_across_floating_crypto_laws_global_adoption_029b8069bd.webp&w=256&q=75)
