On May 22, 2025, the price of Bitcoin surged past $111,800, setting a new all-time high. This breakthrough not only ignited enthusiasm in the cryptocurrency market but also attracted the attention of global investors and policymakers. Signs of market recovery have become increasingly evident, with the return of funds and an increase in risk appetite, Bitcoin is once again becoming one of the core assets of the global financial system. This round of growth is no longer solely driven by retail sentiment but is significantly backed by favorable policies and institutional participation, prompting deep reflections on the future development of the entire cryptocurrency industry.
Shift in Cryptocurrency Policy: Legislative Efforts on Stablecoins and BTC Reserves
U.S. Stablecoin Regulatory Act (GENIUS Act)
The U.S. Congress is moving forward with the National Innovation Guidance and Stablecoin Building Act (GENIUS Act) to establish a regulatory framework at the federal level for stablecoins. The bill requires stablecoin issuers to maintain $1:1 reserves, meet KYC/AML obligations, and be subject to regulatory review. The implementation of this bill will encourage traditional institutions such as Fidelity Investments and JPMorgan Chase to issue compliant stablecoins, accelerate the tokenization process of financial assets, and promote crypto assets from the “gray zone” to the formal financial system.
Multiple states in the United States have begun to incorporate Bitcoin into public asset allocation tools. New Hampshire passed HB 302, allowing 5% of state financial assets to be invested in Bitcoin; the Texas House passed SB 21, establishing a Bitcoin strategic reserve fund; Arizona has also set up a digital asset reserve fund. Wyoming and Kentucky, among other states, are advancing similar legislation. These measures not only indicate that Bitcoin’s status as an asset is being rapidly institutionalized, but also that its role in combating inflation and hedging fiscal risks is being recognized by more and more local governments.
In Asia, Hong Kong has established a licensing and review mechanism for stablecoins through legislation, allowing for the issuance of fiat-backed stablecoins. At the same time, the EU’s MiCA regulations have come into effect, mandating crypto service providers to phase out non-compliant stablecoins and standardize market access criteria. These global regulatory enhancements will accelerate the normalization of the crypto industry and provide fertile ground for the development of infrastructure such as exchanges and wallets.
The exchanges and the compliant track welcome a strategic window.
Policy clarification enhances investment confidence
After regulatory clarity, compliant assets and services are more likely to attract institutional investors. The wave of approvals for spot Bitcoin ETFs and the enhanced fiat currency alternatives for stablecoins are driving exchanges to transition from matching platforms to financial service providers.
Compliance: Licensing, audit transparency, and KYC/AML capabilities have become the survival thresholds for platforms.
Globalization: Emerging markets such as Southeast Asia and the Middle East have become key focus areas.
Diversification: The exchange is extending towards asset management, payments, on-chain assets, and other modules, achieving a closed loop of user value across multiple scenarios.
IV. The strategic layout of NXone Exchange in response to market trends
Since its establishment, NXone Exchange has adhered to a global compliance layout, having completed MSB and VASP registrations in the United States, Canada, Singapore, and other regions. It has a strong licensing system and anti-money laundering capabilities, laying a solid foundation for the security of user assets and institutional cooperation.
In terms of product design, NXone closely follows policy trends, and while continuously improving its reserve assets based on stablecoins and Bitcoin, it has also developed services for institutional customers, such as enterprise wallet custody services and audit reporting systems, to help users allocate crypto assets within the compliance framework. We have made a good reserve for business upgrades under the compliance framework.
The platform’s core system is based on a high-performance matching engine, supporting API integration for high-frequency strategies. It employs multi-signature technology, cold and hot wallet isolation, and an on-chain address auditing mechanism to establish financial-grade security and transparency standards.
From the price of Bitcoin breaking through historical highs to the intensive implementation of stablecoin and BTC reserve legislation, the crypto industry is ushering in a new round of compliance cycle and value revaluation period. Policy escort, capital entry and technology maturity form a triple driving force, and compliant exchanges have become the most critical hub between users and the market. Emerging exchanges like NXone, which are deeply engaged in compliance, product innovation, and technical security, will become an important force to promote the next round of industry upgrades, and may also reshape the future Web3 financial landscape.