- President Trump ended the IRS DeFi rule with a signature from the Congressional Review Act.
- DOJ limits the prosecution scope; CFTC and SEC revise their enforcement approaches.
Crypto policy in the United States is being redefined through updated enforcement, legislative moves, and regulatory guidance. Federal agencies, Congress, and state governments are shifting their stance on digital assets. Coordination across departments is increasing, affecting stablecoins, blockchain applications, and crypto prosecutions. President Donald Trump has signed new legislation impacting decentralized finance reporting rules.
CFTC Acting Chair Caroline D. Pham praised the Department of Justice’s new digital asset memo, which she said ends the practice of “regulation by prosecution.” She directed CFTC staff to align with executive orders and DOJ enforcement guidelines. The DOJ’s memo outlined digital asset enforcement priorities and restricted prosecutors from charging regulatory violations unless certain conditions were met. It also disbanded the National Cryptocurrency Enforcement Team and committed DOJ participation in President Trump’s Working Group on Digital Asset Markets.
President Trump signed a joint Congressional Review Act (CRA) resolution that blocks the IRS rule on broker reporting in decentralized finance. The DOJ’s memo mentioned the White House action and aligns with broader efforts to recalibrate the federal crypto oversight framework.
The House Financial Services Committee voted 32–17 to pass the STABLE Act, which would set transparency rules for stablecoins and move to the House Floor for a vote. Committee Chairs French Hill and G.T. Thompson published six U.S. digital asset policy guiding principles. Senators Elizabeth Warren, Mazie Hirono, Dick Durbin, and others urged Deputy Attorney General Todd Blanche to reconsider the DOJ memo. Warren and Representative Maxine Waters also called on the SEC to preserve records related to World Liberty Financial, citing concerns over possible financial influence on the Trump family. Warren asked the SEC Inspector General to probe whether the Trump Administration improperly influenced crypto enforcement actions.
The SEC’s Division of Corporation Finance clarified that stablecoins pegged to the U.S. dollar and backed by liquid, low-risk assets may not be treated as securities. Commissioner Caroline Crenshaw disagreed with the decision, while Hester Peirce addressed related disclosure rules. SEC Acting Chair Mark Uyeda requested a review of seven earlier staff statements to align with current priorities. The SEC approved ETH options and resolved charges against Nova Labs with a $200,000 payment.
States including Kentucky, Illinois, Vermont, and South Carolina dismissed staking lawsuits against Coinbase. Block, Inc. paid New York regulators a $40 million penalty for BSA/AML compliance failures. OFAC flagged wallets linked to sanctioned Houthi facilitators, and FinCEN issued a digital asset advisory. New York Attorney General Letitia James urged Congress to strengthen crypto regulations.
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