Crypto regulation in the world weekly digest #156
USA
Last week, the United States House of Representatives has passed its most significant federal crypto regulations to date, following years of anticipation and debate in Congress.
GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) that establishes the first federal regulatory framework for stablecoins — cryptocurrencies pegged to traditional assets like the U.S. dollar. The Act requires a full backing of stablecoins by dollar reserves or equivalent low-risk assets, monthly audits and strict anti-money laundering and compliance standards for issuers.
This is the first major crypto-specific law in U.S. history and aims to bring stablecoins into the mainstream by providing both consumer safety and regulatory clarity.
Another one is a Digital Asset Market Clarity (CLARITY) Act that defines how cryptocurrencies (other than stablecoins) are regulated, clarifying their classification as either securities (regulated by the SEC) or commodities (regulated by the CFTC). The Act transfers significant oversight of digital assets to the Commodity Futures Trading Commission and establishes clear rules for exchanges, brokers, and dealers operating in the crypto industry.
These two Bills eliminate years of regulatory confusion, creating a single, unified market structure for digital assets that encourages U.S. fintech innovation while aiming for market integrity.
The third Act is Anti-CBDC Surveillance State Act that blocks the Federal Reserve from issuing a central bank digital currency to the general public without explicit Congressional authorization. The Bill reflects privacy concerns over a government-issued «digital dollar» and seeks to limit federal reach into Americans' financial data and reinforce the private crypto sector’s role.
All three acts, adopted in what Congress dubbed «Crypto Week», are seen as a historic milestone for U.S. regulation, shaping the future of digital finance and fostering increased confidence among investors, innovators, and consumers.
EU
The European Union’s new Anti-Money Laundering Authority (AMLA) officially began operations in July 2025. Based in Frankfurt, Germany, AMLA marks a major shift in the EU’s approach to combating financial crime by acting as a single supervisory authority for anti-money laundering and counter-terrorism financing across all member states.
AMLA took over the majority of its supervisory powers on 1 July 2025 and aims to harmonize AML rules and practices across the EU, replacing the previous system where each national regulator applied its own approach, which created inconsistencies and vulnerabilities.
AMLA has begun coordinating the work of national Financial Intelligence Units (FIUs) and will supervise high-risk sectors, including banks, payment firms, and especially cryptocurrency companies, which are now under increased scrutiny.
In its first official work programme, the agency outlined its focus areas: building its organizational structure, designing its supervision strategy, and targeting high-risk firms for initial oversight. The authority will eventually supervise about 40 systemically important financial institutions directly from 2028 onwards.
Uzbekistan
Uzbekistan has launched a government-backed crypto token known as the HUMO token. This initiative is spearheaded by the national payment system HUMO, in partnership with local crypto depository Asterium and blockchain infrastructure provider Broxus. The token is backed by Uzbekistan's government bonds, aiming to deliver stability and confidence, unlike more volatile cryptocurrencies.
The token is intended to attract foreign investment, enhance payment transparency, simplify business transactions, and drive adoption of digital assets within the country’s financial system. By backing the token with government bonds and pegging it to the Uzbek sum, the project targets price stability and reduced volatility.
HUMO is deeply integrated with Uzbekistan's banking and retail infrastructure, covering more than 35 million payment cards, making broad adoption and use feasible. The HUMO token is officially registered in the government's Unified Electronic Register of Crypto-Assets, and its bond collateral is safeguarded and monitored by the Asterium depository.
The token was issued on Ethereum and TON blockchains. Currently, the token is in a pilot stage, involving both business and individual users to test practical financial use cases. This is the first official state backed stablecoin issued by Central Asian state. We continue to highlight the news of the world of crypto regulation worldwide. Please stay with us!
