2025 Global Cryptocurrency Regulation Shift: Significant Improvement in Market Access in the US, EU, Hong Kong, and Dubai

Source: TokenPost Original Title: US·EU·Hong Kong·Dubai, 2025 ‘Cryptocurrency Regulation Clarification’ Major Shift…Significantly Improving Market Accessibility Original Link:

Overview

2025 marks a turning point for the ‘clarification of regulations’ in the cryptocurrency industry. Major regions such as the US, EU, UAE, Hong Kong, and the UK are sequentially advancing regulatory reforms, systematically organizing previously vague and fragmented cryptocurrency regulations, while also enhancing market predictability and access.

For enterprises, clearer regulations reduce entry barriers and decrease compliance uncertainties. For governments, improved institutional arrangements strengthen regulatory capacity and facilitate legitimate project participation.

United States: The First Federal Cryptocurrency Law ‘GENIUS Act’ Brings Regulatory Shift

The US has long faced difficulties for crypto businesses due to unclear regulatory scope and aggressive administrative measures. In July 2025, Congress passed the ‘GENIUS Act,’ marking a significant turning point.

The GENIUS Act is the first comprehensive federal legislation defining and regulating stablecoins. Its core is replacing the previously cumbersome requirement for obtaining transfer licenses in all 50 states with a single federal framework, achieving both clarity and cost savings.

For example, before the law’s implementation, issuers needed to spend an average of tens of millions of Korean won on legal consultations to operate nationwide. Now, they can enter the market following unified guidelines.

EU: MiCA Achieves ‘27 Countries’ License Integration’

Starting January 2025, the EU officially implemented the previously prepared ‘Markets in Crypto-Assets (MiCA).’ The core is the ‘passport system’—a license obtained in one country can be used to provide services across all 27 EU member states.

Through this system, companies can avoid duplicate registration and approval processes between countries, while gaining access to a massive single market with up to 450 million people.

Germany recognized 21 crypto service companies in the first half of the implementation year, strengthening its role as a European fintech hub. A typical case is Dutch-licensed companies entering Germany and gaining significant benefits.

Dubai: Establishing a Professional Regulatory System through VARA

In May 2025, Dubai’s Virtual Asset Regulatory Authority (VARA) released version 2.0 of its regulations. The core is abandoning the existing flexible but vague guidelines in favor of activity-based clear regulatory frameworks.

Terms such as ‘asset custody standards,’ ‘collateral requirements,’ and ‘qualified custodian definitions’ have been clearly defined, with compliance deadlines set before June 19.

This change has upgraded Dubai’s status as a global cryptocurrency hub to a more stable business environment.

Hong Kong: Becoming Asia’s Gateway with Stablecoin Regulations

In August 2025, Hong Kong launched a dedicated licensing system for fiat-backed stablecoins, accelerating regulatory reforms.

The Hong Kong Monetary Authority (HKMA) moved away from interpreting stablecoins under existing securities or stored value regulations (SVF), establishing independent capital and reserve standards.

As a result, global enterprises can leverage Hong Kong as an ‘Asia regulatory center based on English and American law.’ Notably, the newly added ‘Reverse Solicitation’ exemption clause—meaning overseas operators are not subject to regulation when not marketing to Hong Kong residents—greatly improves global market access.

UK: Incorporating Cryptocurrency into the Financial System via FSMA

The UK abandoned its previous ‘phased regulation’ strategy and shifted in April 2025 to integrating cryptocurrencies into the Financial Services and Markets Act (FSMA).

The Financial Conduct Authority (FCA) announced in its December discussion paper (DP25/1) that cryptocurrency exchanges and intermediaries are now subject to the same level of regulation as traditional financial institutions.

Existing banks or intermediaries regulated by the FCA do not need to establish new internal controls, only to expand existing compliance capabilities to accelerate market entry. The law also includes criminal penalties for influencers promoting unlicensed cryptocurrencies.

Clear Regulation Becomes a New Competitive Edge

The regulatory reforms of 2025 are closer to ‘regulatory restructuring’ rather than deregulation. Anti-Money Laundering (AML), custody, and consumer protection standards have been strengthened.

However, for enterprises, the clarity of ‘procedures’ is more meaningful than the content of regulations. As uncertainties and complexities decrease, the flow of capital and talent becomes more convenient.

Now, companies’ strategic thinking shifts from ‘where to get licensed’ to ‘where to start.’

Market Interpretation

The regulatory simplification in major countries in 2025 marks a boundary for the entry of the cryptocurrency industry into the institutional framework. Under the premise of investor protection and accelerated global capital inflows, this will become a key variable for future market growth.

Strategic Highlights

• The US GENIUS Act lowers entry barriers through a federal unified system
• The EU expands the supranational license scope based on MiCA
• Dubai and Hong Kong attract global enterprises through specialized targeted regulations
• The UK creates a consistent regulatory environment by integrating with traditional financial laws

Terminology Explanation

• GENIUS Act: The US’s first federal regulation law for stablecoins
• MiCA: A law allowing unified crypto service operations within the EU
• VARA: Dubai’s dedicated virtual asset regulatory authority
• FSMA: UK’s Financial Services and Markets Act, which also includes cryptocurrencies