The past week in crypto saw significant actions in the shifting regulatory climate, with the SEC easing its stance on staking and dropping its lawsuit against Binance. Major business moves included 21Shares filing for a spot Dogecoin ETF, BlackRock eyeing a Circle IPO stake, and El Salvador making another Bitcoin purchase. Meanwhile, Web3 innovations and market expansions continued globally, alongside new policy moves from India, Thailand, and the UK. Let’s find out more.
Bitcoin
El Salvador has once again challenged the International Monetary Fund’s (IMF) stance on cryptocurrency acquisitions, making a fresh Bitcoin purchase shortly after concluding a key review tied to its $1.4 billion loan agreement.
Technology
Dubai has formally introduced the region’s first government-backed tokenized real estate platform, a move poised to redefine property investment in the emirate.
Business
In a notable development for crypto-backed financial products, 21Shares has formally filed an application to launch a spot Dogecoin exchange-traded fund (ETF) in the United States.
Global asset management heavyweight BlackRock is reportedly preparing to acquire a 10% stake in Circle’s upcoming initial public offering, marking another strategic step into the digital asset sector.
Christopher Giancarlo, the former chairman of the U.S. Commodity Futures Trading Commission (CFTC), has formally joined Sygnum, the Swiss-based crypto bank, as a senior policy advisor.
Web3
Onchain intelligence layer and InfoFi platform Bubblemaps has announced that Bubblemaps V2 is now open to the public.
RZTO, a Solana-based utility token, aims to make a mark in the global telecom sector with its Web3 capabilities and innovative features, making the Web3 transition possible.
Sonic SVM, the first chain-extension platform on Solana, has continued to witness impressive growth metrics across its fledgling ecosystem following a successful mainnet launch and developer hackathon that attracted over 250 project submissions.
Meta exchanges (MEXs) are transforming crypto trading by aggregating liquidity, minimizing slippage, and optimizing trade routes across centralized and decentralized platforms, with platforms like SwissBorg leading the charge through real-time price updates, MEV protection, and seamless multi-chain swaps.
Caladan, a leading crypto market-making and crypto trading firm primarily in Asia, has announced its expansion to the U.S. market, which will be accompanied by the opening of a representative office in New York City
Regulation
The United States Securities and Exchange Commission’s (SEC) Division of Corporation Finance has said that staking activities on Proof-of-Stake networks do not constitute securities transactions.
The Indian government plans to release a cryptocurrency policy paper in June 2025 after the Supreme Court recently questioned the government’s failure to regulate the industry.
Thailand’s Securities and Exchange Commission announced it would ban five cryptocurrency exchanges from operating locally from June 28, 2025. The banned crypto exchanges include Bybit, OKX, 1000X, CoinEx, and XT Crypto.
Reform UK leader Nigel Farage has announced that his party will begin accepting political donations in Bitcoin and other cryptocurrencies, marking a first for a British political party.
The SEC has officially dismissed its lawsuit against Binance, drawing a close to one of the most high-profile regulatory cases in the crypto industry’s recent history.
The SEC has progressed WisdomTree’s application for a spot XRP exchange-traded fund (ETF) to a formal review stage, following the conclusion of the public comment period.
U.S. federal prosecutors have formally charged Jeremy Jordan-Jones, the self-described founder of purported blockchain startup Amalgam, for his alleged role in a multi-million-dollar fraud scheme.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
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