# Сопутствующие статьи по теме Policy

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Policy", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

One Image, Recalling the Sweet, Sour, Bitter, and Spicy of the Crypto World in These 12 Months

"2025 Crypto Year in Review: A Rollercoaster of Hype, Crashes, and Innovation The crypto market in 2025 was a whirlwind of extreme highs and devastating lows. The year began with immense optimism in January, driven by the AI Agent narrative and the unprecedented launch of the official $TRUMP token. However, this hype was quickly tempered by a major hack on Bybit in February and a collapse of political meme coins, leading to a brutal market-wide清算 (liquidation) in late February and March. A significant shift occurred from April onwards as regulatory sentiment improved. Key events included the approval of ETH ETF options, the signing of the pro-crypto GENIUS Act in July, and the successful IPO of Circle in June, which saw its stock soar. Bitcoin and Ethereum reached new all-time highs, surpassing $126K and $3,848 respectively. The year was defined by several key narratives: * **AI & New Protocols:** AI coins surged early but were challenged by more advanced off-chain models. New platforms like Believe and Virtuals Protocol fueled a launchpad frenzy. * **Stablecoin Expansion:** Circle's IPO and the massive fundraising for projects like Plasma highlighted massive institutional interest. * **Tokenization:** The tokenization of real-world assets (RWA) and stocks on chains like Solana gained significant traction throughout mid-year. * **Exchange Token Mania:** Tokens like OKB and MNT saw massive pumps due to supply burns and ecosystem integrations. * **The DAT Narrative:** The "Digital Asset Treasury" strategy, popularized by MicroStrategy (rebranded to Strategy), was emulated by other firms until the late-year bear market caused severe distress. The mood shifted dramatically in October with the largest single-day liquidation event in crypto history, wiping out $19 billion in leverage. This triggered a prolonged bear market throughout November and December, with Bitcoin crashing to $80K and wiping out nearly $1 trillion in market cap. Privacy coins like ZEC emerged as unlikely winners during the downturn. The year closed on a quiet and somber note in December, with market fatigue setting in and the community awaiting a return of liquidity in 2026."

marsbit12/23 07:52

One Image, Recalling the Sweet, Sour, Bitter, and Spicy of the Crypto World in These 12 Months

marsbit12/23 07:52

One Image, Recalling the Sweet, Sour, Bitter, and Spicy of the Crypto World in These 12 Months

"Reflecting on Crypto's Rollercoaster 2025: A Year in Review" January kicked off with AI tokens like AI16Z and political memes like $TRUMP surging, alongside optimistic U.S. policy shifts, though AI narratives cooled by month-end. February saw major setbacks: Bybit’s $1.5B hack, meme scams like $LIBRA, and a brutal market correction. March mixed policy hope (Trump’s "strategic Bitcoin reserve") with meme crashes and Hyperliquid’s $12M crisis. April brought relief: tariff pauses, ETH ETF options, and a market rebound. May was euphoric—BTC hit $110K, DAT narratives boomed, and platforms like Believe and Virtuals surged. June highlighted stablecoins: Circle’s explosive IPO and Plasma’s $10B raise, while DAT expansions and tokenized stocks gained traction. July celebrated the GENIUS Act, BTC/ETH new highs, and tokenization growth. August featured exchange token rallies (OKB +400%) and macro data on-chain, but also celebrity meme drama. September saw Fed rate cuts, Tether’s valuation spike, and Aster’s 2800% rally. October started with the viral "Binance Life" meme but crashed in a historic $19B liquidation. November was brutal—BTC fell to $80K, though privacy coins like ZEC rallied 1200%. December closed quietly, a "silent bear market" with fading hype and hopes for 2026.

深潮12/23 07:37

One Image, Recalling the Sweet, Sour, Bitter, and Spicy of the Crypto World in These 12 Months

深潮12/23 07:37

Wall Street’s bid on crypto dominated 2025 but what’s the demand outlook for 2026?

Wall Street's embrace of crypto dominated 2025, with massive institutional inflows into spot Bitcoin ETFs reaching $57 billion. However, the market faced a correction late in the year, raising questions about 2026's demand outlook. Key factors include the continuation of institutional adoption, the impact of AI industry growth on risk assets, and potential regulatory clarity from the Clarity Act. Federal Reserve policy shifts and rate cuts are viewed as bullish, but may collide with a softening job market and rising consumer costs. The performance of tech equities and the monetization of AI investments will also significantly influence crypto markets. Overall, 2026 presents a bullish macro backdrop, but its trajectory hinges on these complex, interconnected narratives.

cointelegraph12/22 23:09

Wall Street’s bid on crypto dominated 2025 but what’s the demand outlook for 2026?

cointelegraph12/22 23:09

Arizona lawmaker proposes barring taxes on crypto and blockchain

Arizona State Senator Wendy Rogers has introduced two bills and a resolution to change how digital assets are taxed in the state. The proposals include exempting virtual currency from taxation (SB 1044), preventing local governments from taxing or fining blockchain node operators (SB 1045), and amending the state constitution to exclude digital assets from property tax (SCR 1003). While the node bill may pass through the legislature, the tax exemption and constitutional change would require voter approval in the 2026 general election. Arizona is among a small group of states, including New Hampshire and Texas, with laws establishing digital asset reserve policies. The move follows broader U.S. state-level efforts to create supportive regulatory frameworks for cryptocurrency.

cointelegraph12/22 21:39

Arizona lawmaker proposes barring taxes on crypto and blockchain

cointelegraph12/22 21:39

Crypto may enter insurers’ portfolios as Hong Kong reviews capital rules

The Hong Kong Insurance Authority is proposing to allow insurance companies to allocate capital to cryptocurrencies and infrastructure projects. Under the proposal, crypto investments would be subject to a 100% risk charge, requiring insurers to hold regulatory capital equal to the full value of their crypto holdings. The move is part of a broader review of the risk-based capital regime to support the industry and economic development. This follows a global trend, as the EU has proposed similar capital rules, and insurers like MassMutual and Allianz have already made crypto investments. Hong Kong has been actively developing its crypto regulatory framework, including stablecoin rules and a fintech strategy focused on tokenization, despite mainland China's continued restrictions on crypto activities.

cointelegraph12/22 12:41

Crypto may enter insurers’ portfolios as Hong Kong reviews capital rules

cointelegraph12/22 12:41

Bitcoin's 'Strict Headmaster' Arrives? If He Takes the Helm at the Fed, the Crypto Party Could End Abruptly

The article discusses the potential implications of Kevin Warsh, a former Federal Reserve governor and Wall Street insider, becoming the next Fed Chair. Unlike other candidates like Kevin Hassett, who is seen as favoring lower interest rates and easier monetary policy, Warsh represents a more disciplined approach. Having worked at Morgan Stanley and experienced the 2008 financial crisis firsthand, Warsh is highly sensitive to systemic risks and liquidity issues. Warsh’s policy stance combines aggressive quantitative tightening (QT) with moderate interest rate cuts. He aims to control inflation by reducing the money supply and restoring the dollar’s credibility, while also easing corporate financing costs. This approach could challenge risk assets like cryptocurrencies, which have thrived in an era of abundant liquidity. If appointed, Warsh could bring stricter regulation to crypto, particularly stablecoins, potentially requiring full cash or short-term debt reserves. He opposes a retail central bank digital currency (CBDC) on privacy grounds but supports a wholesale CBDC for interbank settlements. While his policies may pressure crypto in the short term, they could also foster more institutional adoption and real-world asset (RWA) integration in the long run. However, the article notes that political pressures—especially from a Trump administration seeking lower rates and economic growth—could ultimately influence Warsh’s decisions, regardless of his personal beliefs.

Odaily星球日报12/22 09:27

Bitcoin's 'Strict Headmaster' Arrives? If He Takes the Helm at the Fed, the Crypto Party Could End Abruptly

Odaily星球日报12/22 09:27

Hyperliquid says ex-employee responsible for HYPE token shorting

Hyperliquid co-founder Iliensinc clarified on Discord that a wallet accused of shorting the HYPE token belonged to a former employee terminated in Q1 2024, not a current team member. The address sold around 4,000 HYPE tokens ($134,000) in a single day. Iliensinc emphasized that all employees and contractors are prohibited from derivatives trading involving HYPE or using material non-public information. Despite a 24% price drop this year, HYPE has risen 290% since its November 2024 launch. Arthur Hayes recently praised Hyperliquid as this cycle’s “best story,” noting its growth from $2–3 to over $60 at its peak. The platform dominated the perp DEX market with $653 billion volume in Q2 2025.

cointelegraph12/22 09:14

Hyperliquid says ex-employee responsible for HYPE token shorting

cointelegraph12/22 09:14

IOSG Founder: Bitcoin Undergoes Historic Handover, Bullish on the First Half of 2026

In a significant market shift, Bitcoin has undergone a historic transfer of ownership from retail to institutional players, marking a structural transformation in the crypto landscape. Despite BTC's -5.4% and ETH's -12% price decline in 2025, institutional inflows via ETFs reached $25 billion, with BlackRock, Fidelity, and Grayscale dominating holdings. Institutional ownership now stands at 24%, while retail participation dropped 66%. Three waves of long-term holder sell-offs, totaling 1.4 million BTC ($121.17B), were fully absorbed by institutional demand, preventing a crash. Key drivers include pro-crypto policies under the Trump administration, ETF integration, and corporate treasury adoption. The outlook for 2026 is bullish, especially in H1, due to expected policy tailwinds and continued institutional accumulation, with price targets ranging from $120K to $250K. Risks include macro volatility and mid-term election uncertainties, but the transition to an institutional-led market suggests a new cycle of structural growth, not a bull market top.

marsbit12/22 07:25

IOSG Founder: Bitcoin Undergoes Historic Handover, Bullish on the First Half of 2026

marsbit12/22 07:25

Fed seeks input on account type attractive to crypto firms

The US Federal Reserve is seeking public input on a proposed "payment account" or "skinny master account" that would grant fintech and crypto firms access to the central bank's payment system without requiring full master account approvals. Fed Governor Christopher Waller stated these accounts aim to support innovation while maintaining safety, reflecting rapid developments in payments. However, Governor Michael Barr expressed concerns over potential money laundering and terrorist financing risks, especially for institutions not directly supervised by the Fed. Crypto firms like Circle, Coinbase, Kraken, and Block could benefit, potentially bridging crypto and traditional banking. Unlike master accounts, these payment accounts would not earn interest, lack access to Fed credit, and have balance caps. The comment period closes 45 days after Federal Register publication, with operational launch expected in Q4 2026.

cointelegraph12/22 03:38

Fed seeks input on account type attractive to crypto firms

cointelegraph12/22 03:38

Blockchain Association Rejects Proposal To Widen Stablecoin Yield Restrictions

The Blockchain Association, along with over 125 crypto and fintech groups, is urging Senate Banking leaders to oppose efforts to expand a ban on stablecoin yields beyond what is explicitly stated in the GENIUS Act. The law prohibits stablecoin issuers from paying yields directly to holders but allows third-party platforms to offer rewards. The association argues that broadening the ban would harm competition and innovation, favoring larger financial firms. In contrast, banking groups, led by the American Bankers Association, are pushing for the ban to extend to partners and affiliates, warning that stablecoin rewards could circumvent the law and drain trillions from traditional bank deposits. The debate centers on consumer protection, financial stability, and the future competitive landscape of digital payments. Senate Banking staff are reviewing both sides as they consider potential legislative clarifications.

bitcoinist12/21 13:01

Blockchain Association Rejects Proposal To Widen Stablecoin Yield Restrictions

bitcoinist12/21 13:01

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