Biggest Crypto News (January-June 2025)
The first half of 2025 has been one of crypto’s most defining stretches yet. From the U.S. Senate passing its first stablecoin bill, to Solana making ETF history, to Ripple finally ending its long legal war with the SEC. Regulation and mainstream adoption have taken center stage. Japan’s Metaplanet is going all-in on Bitcoin, while the UK and IRS are rolling out sweeping tax reporting rules.
These aren’t just headlines. They’re signs of a market maturing fast. The Wild West days aren’t gone, but they’re getting boxed in by policy, structure, and serious institutional buy-in.
In this post, we break down the biggest crypto news events up to mid-2025: what happened, why it matters, and where things might be heading next.
U.S. Senate Passes First-Ever Federal Stablecoin Bill
On June 17, 2025, the U.S. Senate passed the GENIUS Act, the first federal law focused solely on stablecoins. The bill passed 68–30 with strong bipartisan support, signaling a major shift in how the U.S. plans to regulate digital dollars.
Introduced in February and led by Senator Bill Hagerty (R-TN), the bill moved quickly through Congress. It includes rules banning lawmakers from issuing their own stablecoins and adds oversight for foreign issuers.
So what’s in it?
The bill defines “payment stablecoins” as blockchain tokens tied to fiat value, not securities or commodities. Only licensed banks or approved nonbanks can issue them. These tokens must be fully backed by dollars or Treasuries, with monthly reserve reports, audits, and anti-money laundering rules. If an issuer collapses, holders get paid first.
Why it matters:
This ends years of regulatory gray area. It clears the path for big names, like Circle, Visa, and Amazon, to issue compliant stablecoins. It may also impact bond markets, as issuers will need to hold large amounts of short-term Treasuries.
It’s also a strategic move. With China and Europe advancing their CBDCs, the U.S. wants to keep stablecoin innovation at home.
Next stop: the House. If signed into law, rules kick in within 18 months, with a 3-year grace period before non-compliant tokens like Tether could be blocked.
For users and investors, this means more trusted, transparent, and regulated stablecoins and a big step toward mainstream adoption.
Solana ETFs Just Went Mainstream
In early July 2025, the crypto market witnessed a first: a U.S.-based Solana ETF that doesn’t just track price, it captures staking rewards too.
The REX-Osprey Sol + Staking ETF (SSK) launched and pulled in $33 million in trading volume on day one. It’s the first ETF of its kind, offering both price exposure and staking yield through a traditional brokerage account.
What made it possible? A clever structure. Instead of going the usual SEC route, the fund launched as a C-corp under the Investment Company Act of 1940. That allowed it to bypass more restrictive ETF approval channels. And notably, the SEC didn’t object.
Meanwhile, big-name firms like Invesco, Grayscale, VanEck, Fidelity, and others have also filed for spot Solana ETFs. The SEC has now asked all applicants to update their filings by the end of July, with updated S-1 documents. These updates must include detailed staking and redemption methods.
Analysts believe this is more than a paperwork update. The SEC seems ready to greenlight one or more spot Solana ETFs before its October 10 deadline. Behind the scenes, the agency has also issued 12 pages of guidance to speed things up, standardizing how crypto ETFs handle custody, risk, and transparency. That alone could cut the review window from 240 days to just 75.
Traders are already reacting. Solana jumped 8%, and analysts say it could reach $170–180 if approvals follow.
Why does this matter?
This is the first time investors can earn staking yield through a regulated ETF. No wallets. No self-custody. Just buy it like a regular stock. It’s a clear sign that altcoins are maturing into legitimate investment products.
If even one spot Solana ETF gets approved this year, it could open the floodgates, and finally give altcoins a real seat in traditional finance.
Metaplanet Doubles Down on Bitcoin
In June 2025, Japanese investment firm Metaplanet bought another 1,005 BTC for about $108 million. This pushed its total Bitcoin holdings to 13,350 BTC, making it one of the top five corporate holders of Bitcoin globally, just behind crypto whales like MicroStrategy.
But Metaplanet isn’t just stacking Bitcoin for quick gains. It’s treating it as a core long-term asset, a hedge against inflation and currency risk. The company has a bold goal: to hold 210,000 BTC by 2027. That’s about 1% of all Bitcoins that will ever exist.
To pull this off, Metaplanet is using a smart funding strategy. It raised over $200 million by issuing zero-interest bonds in Japan. That means it gets the money without paying interest, something not many companies can do. It’s also using part of the money to pay off older, more expensive debt.
Investors liked the move. Metaplanet’s stock jumped nearly 10%, and it’s already up more than 350% this year. The company also tracks something called Bitcoin-per-share, which shows how much BTC each share represents. That number keeps rising, giving shareholders more exposure to Bitcoin over time.
Why is this important?
Because it shows a new path. Metaplanet is a public company in a country that’s usually more cautious about crypto. But it’s proving that Bitcoin can play a serious role in corporate strategy. And it’s doing it without risky loans or short-term hype.
If this model works, other companies might follow, especially in Asia. This could push Bitcoin even further into the financial mainstream.
Ripple Finally Ends Its Legal Battle with the SEC
In late June 2025, Ripple Labs officially stepped away from its long legal fight with the U.S. SEC by dropping its appeal. That decision locks in an earlier court ruling that fined Ripple $125 million for past institutional XRP sales and banned it from doing similar unregistered sales in the future.
This lawsuit started back in 2020 when the SEC accused Ripple of selling XRP as an unregistered security. The case dragged on for years and became one of the most watched legal battles in crypto.
In 2023, a judge ruled that Ripple’s public XRP sales on exchanges were not securities, but its institutional sales were. Ripple originally challenged that but now it’s choosing to move forward. The SEC is also expected to drop its appeal. However, the judge has denied the request to drop or lower the $125 million penalty.
What does this mean?
For Ripple, it ends a massive legal distraction that slowed partnerships and growth, especially in the U.S. For XRP holders, it removes the risk of more lawsuits or being delisted from major platforms. After the news, XRP’s price held steady at around $2.10-$2.20, despite some short-term selling by large holders.
The timing is important. Ripple is expanding its blockchain for cross-border payments and central bank digital currency projects. Its new stablecoin, RLUSD, crossed $455 million in supply across Ethereum and the XRP Ledger in June. With the legal cloud gone, Ripple can now scale faster, especially with institutions that need legal clarity.
There’s also buzz about a possible XRP spot ETF. Before, the lawsuit made that impossible. But now, with Bitcoin and Ethereum ETFs already approved, and XRP’s status cleared up, it’s more realistic than ever.
In short, Ripple is finally free to build. And XRP has a chance to grow beyond its past drama and into more mainstream financial use.
UK to Start Tracking Crypto Activity Under New Tax Rules
In May 2025, the UK announced big changes for how crypto is tracked and taxed. Starting January 1, 2026, all crypto-asset service providers (CASPs) in the UK will be required to collect and report detailed user data to HMRC. This is part of a global tax transparency plan called the Crypto-Asset Reporting Framework (CARF), led by the OECD.
The new rules apply to any platform that lets people buy, sell, transfer, or store crypto. These companies will need to collect personal info from users, like name, date of birth, address, tax residency, and taxpayer ID, and keep detailed records of every transaction. That includes what asset was traded, when, how much, and what type of transaction it was (buy, sell, swap, or transfer).
Reporting starts in 2026, but platforms must submit the full year’s data by May 31, 2027. The info must follow a strict format, and companies are expected to check all details carefully. If they mess up by collecting wrong info or submitting it incorrectly, they could face fines of up to £300 per error.
To follow the rules, platforms must also be registered with the Financial Conduct Authority (FCA) and get their systems ready in advance. That means stronger ID checks, secure data handling, and smoother onboarding processes.
Why it matters:
This is a major shift. It ends the idea that crypto is anonymous on regulated platforms, though there are still ways to stay anonymous in crypto. The UK is joining other countries in making crypto fully transparent for tax purposes. For platforms, it means more work. For users, it means crypto income must be reported, and mistakes could cost you.
The message is clear: tax compliance in crypto is no longer optional. And with less than 18 months to go, both companies and users need to start preparing now.
IRS Gives Crypto Brokers More Time Before New Rules Kick In
On June 12, 2025, the IRS released Notice 2025-33, giving crypto brokers extra time to adjust to new tax rules. The notice extends relief on backup withholding until the end of 2026, giving brokers more breathing room to get ready for what’s coming in 2027.
These rules come from the Infrastructure Investment and Jobs Act. Starting in 2026, brokers will need to report crypto activity to the IRS using Form 1099-DA. That includes details like the asset type, transaction date, amount, and the user’s tax ID. If a user doesn’t provide a valid taxpayer ID, brokers will eventually need to withhold tax from the transaction, but not just yet.
With this update, brokers can start collecting and organizing the required data in 2025 without facing penalties for not withholding taxes during the early rollout. There’s also partial relief for 2027 if they take certain steps, like verifying tax IDs or identifying exempt accounts.
The rules apply mostly to custodial brokers, meaning companies that actually hold crypto for their users. DeFi apps, protocols, and self-custody wallets aren’t part of this… at least for now.
This matters because setting up tax reporting systems is complicated. Platforms need time to build tools, clean up onboarding flows, and integrate with IRS systems. For investors, it means 2025 and 2026 are a soft start, tax forms will come, but no auto-withholding just yet.
If you’re an active trader, it’s a good idea to keep records clean and ready. Tools like Bitcoin.Tax can help you track everything now, so you’re not scrambling when the rules get stricter.
The IRS is being flexible for now, but brokers and users shouldn’t wait till the last minute. Full enforcement is coming.
Final Thoughts
The first half of 2025 shows one thing clearly: crypto is growing up. Regulation is catching up, institutions are getting more involved, and the lines between traditional finance and digital assets are starting to blur. Whether it’s ETFs, tax rules, or legal clarity, the space is moving from speculation to structure.
For investors and builders alike, the next phase won’t be just about price. It’ll be about who adapts fastest to the new rules of the game.