At the end of 2024, TRM’s policy experts — Ari Redbord, Angela Ang, and Isabella Chase — donned their festive sweaters and sat down to reflect on the winds and waves that shaped crypto policy throughout the course of the year. They took a deep-dive into TRM’s Global Policy Review & Outlook 2024/25 report, and set out their predictions for what’s in store for this coming year.
Read on for a recap of their discussion — including analysis of Singapore and Hong Kong’s latest announcements, the last few months of MiCA preparation, and of course, the re-election of President Trump — or watch the full recording below.
2024 in review: The trends that shaped the year
The team kicked off the webinar by reviewing the key trends that shaped crypto policy in 2024, including:
- Waves of adoption driven by implementation of regulatory frameworks, ETFs, and accelerated institutional adoption; and continued innovation in digital assets
- Winds of change that presented challenges to regulations including elections, the uncertain geopolitical climate, and increasingly strained regulatory capacity
These forces made 2024 a busy year, with lots of progress made on cementing and implementing crypto policy around the globe. In the countries the TRM team reviewed for the Global Policy Review & Outlook 2024/25 report, they found that over 60% introduced new policies or positions for digital assets, and about 70% made progress implementing regulations. Additionally, just under half made moves to support digital asset innovation through pilots, sandboxes, and other innovation initiatives.
Overall, 2024 was an important year for laying the groundwork for the future sustainable growth of digital assets around the world.
Regions in focus
There was no respite for crypto policy in the last few months of 2024. Here’s a recap of the main policy events Ari, Angela, and Isabella kept a close eye on in APAC, EMEA, and the Americas.
APAC
Across APAC, the last few months of the year saw continued progress in regulatory implementation. Both Singapore and Hong Kong announced new licensed entities and made strides in continuing to strengthen protections for consumers using cryptoassets — joined by Taiwan who announced new rules to combat unlicensed activity amidst rising crypto fraud.
EMEA
The last quarter of 2024 saw the final preparations for the Market in Crypto Assets (MiCA) regulation. Isabella summarized the final hurdles faced by crypto asset service providers (CASPs), EU member states, and issuers of unauthorized stablecoins (who will likely face being delisted by European CASPs in January). She also covered the UK’s announcement of its crypto asset framework, which aims to go fully live sometime in 2026.
Americas
The biggest event in the Americas was of course the reelection of President Donald Trump. This will likely trigger a more crypto-friendly policy environment not just in the US, but also more broadly around the world. As Angela remarked, “A rising tide lifts all boats.” As we see more proactive policies in the US, we are also likely to see more acceptance of digital assets around the world.
The reelection of Donald Trump also contributed to Bitcoin hitting USD 100,000 in the final weeks of 2024. This latest bull run could impact financial crime —- with greater liquidity attracting bad actors to the space. However, regulatory capacity has also increased, with jurisdictions better equipped to deal with this problem.
Three predications for crypto policy in 2025
Looking to 2025, the team made the following predictions for what they think lies ahead:
Angela Ang: ”We'll see even more regulatory clarity as implementation progresses. I’m hopeful that the shift toward more innovation-friendly policymaking, combined with the industry’s continued investment in compliance, will set us on a sustainable growth trajectory in 2025.”
Isabella Chase: “We’re going to see regulators around the world turn their attention to understanding, and in practice, combating market abuse.” To do this effectively, we’ll see the need to fuse on- and off-chain data to protect the integrity of the markets.
Ari Redbord: “Things will move really quickly in the USA. The President and all his appointees know they only have four years, so they have to move fast to accomplish as much as possible.”
{{horizontal-line}}
For more insights into the year ahead, download TRM’s Global Crypto Policy Review 2024/2025 report, which includes a calendar of key 2025 dates to mark in your diaries to stay ahead in the dynamic world of crypto and financial crime policy.
Looking for rich policy and regulatory insights like this on a weekly basis? Be sure to subscribe to TRM’s Weekly Roundup newsletter on LinkedIn. We publish a new edition every Thursday — packed with expert analysis and commentary on the top topics in crypto policy, regulation, and law enforcement.
Access our coverage of TRON, Solana and 23 other blockchains
Fill out the form to speak with our team about investigative professional services.
