January set the tone for crypto regulation in 2025: as the U.S. loosens up, other regions take their own path—Africa pushes anti-fraud measures, Asia balances its approach, and Europe starts to follow the MiCA playbook.

While private firms push their human and identity verification projects forward, governments are taking advantage of their positions to control and get ahead of the trend.

Bybit, a crypto exchange with the largest user base from Russia, has temporarily suspended operations in India due to ongoing regulatory challenges. While promising to honor withdrawals, other services like trading and new accounts are restricted.

From a viral meme sensation to a sophisticated money launderer helping Russia's elite, it isn't just men in the upper echelons of alleged crypto crimes.

While South Korea seeks to foster innovation and public trust, Russia focuses on leveraging crypto for immediate economic and geopolitical gains. Both approaches highlight how crypto policy is deeply intertwined with national priorities and geopolitical circumstances.

Russia is taking the lead in developing a common financial infrastructure for the BRICS intergovernmental organization. Russia's initiatives feature distributed ledger technology.

The new law prohibits citizens from buying and selling crypto with fiat on foreign exchanges. By directing the flows through local exchanges, the government aims to increase its control over crypto transactions. At Observers, we imagine Russia could follow the same path.

Russia's recent crypto laws favored mining and cross-border payments with crypto. The new regulations were allegedly approved mainly due to the changing global landscape and Western sanctions.