Another year has passed, and cryptocurrencies are somehow at a definite crossroads – again. After surviving a comprehensive regulatory process crusade In the US, surviving the dregs of the recent bear market, the digital asset industry appears to be on the rise again. By all accounts, 2025 looks set to be the greatest year in crypto yet.

But how the industry chooses to navigate this moment of opportunity is far from certain. Regulatory moves, technical updates, and market trends can still break things in thousands of different ways.

Don't worry, dear reader. Decryption Here to predict the unpredictable. Here are some of the key questions that experts say are likely to define the year ahead, and what their answers could mean for you.

First: How much political capital would Donald Trump be willing to spend on cryptocurrencies?

In November, the president-elect's victory sent cryptocurrency markets soaring. It looks beautiful clear That days the American government insisted attack Major players in the industry have come through this, and this in itself represents a huge development.

But will the Trump administration be willing to pursue policies that industry experts say are necessary to ensure the long-term success of cryptocurrencies?

“The end of the hostility would in itself be a blessing,” said Christine Smith, CEO of the Blockchain Association, a prominent cryptocurrency lobby group. Decryption. "But we need more than that."

Although Trump has made countless Promises As far as industry is concerned on the campaign trail, such commitments to particular constituencies routinely get lost in the shuffle once a president takes office and is overwhelmed by competing concerns — all of which will be pressing.

“There are going to be a lot of priorities in the Trump administration,” Smith said. “If we don't have someone who can implement these things, it's going to be a problem.”

One positive indicator for Smith that digital asset policy could advance meaningfully in 2025 is the fact that the Trump White House, in a historic first, specific Dedicated administrator for artificial intelligence and cryptocurrencies. Venture capitalist David Sachs accepted the position in early December.

Smith said the White House cryptocurrency adviser will "ensure things get done" by coordinating the administration's digital asset vision across the White House, executive agencies and Congress.

This kind of focus can have a massive and immediate impact on the power, reach, and influence of cryptocurrencies.

Take, for example, the repeal of SAB 121, a US Securities and Exchange Commission (SEC) rule that discouraged US banks from holding crypto assets. In May, bipartisan majorities in both chambers of Congress voted in favor invalidates Al Qaeda, but President Joe Biden shortly thereafter It was overturned Voltage.

If Congress is only urged to pass the same bill again, and Trump signs it into law, Smith asserted, this single move could usher in a whole new chapter for cryptocurrencies in the United States.

“It opens up a whole new market,” she said.

Although Bitcoin and Ethereum Spot ETFs It is currently trading on Wall Street, but the abundance of red tape and concerns surrounding cryptocurrencies has kept the majority of US investors and companies on the sidelines.

Allowing major banks to hold cryptocurrencies themselves – and pass on the underlying Draft market structure law This measure, which formally legitimizes the industry, would open up untold amounts of still-unstable TradFi capital to the digital assets industry, Smith said. Such fundamental steps would give “reassurance to a wide range of investors and market participants that cryptocurrencies are a safe place, they can come and invest here, and developers can build new businesses here.”

The difference between TradFi dipping its toe into cryptocurrencies and diving in head first will be seismic. The industry may taste some of that difference in 2025.

Modified by Andrew Hayward