2025 is shaping up to be a pivotal year for the regulation of digital assets in the UK. As the European Union’s Markets in Crypto-Assets is reshaping the EU’s regulatory landscape by introducing a unified framework for crypto-asset service providers, the UK Financial Conduct Authority is advancing its own agenda, guided by its Cryptoasset Roadmap, to ensure regulatory clarity while supporting innovation. 

The U.S. Department of Commerce, through its Bureau of Industry and Security (BIS), continues to actively pursue investigations under Section 232 of the Trade Expansion Act of 1962. These investigations aim to determine whether specific imports threaten to impair U.S. national security. In recent months, BIS has significantly broadened the scope of its inquiries, reflecting heightened concerns over supply chain resilience, critical infrastructure, and technological competitiveness. This alert provides an overview of the currently active investigations and offers practical guidance for stakeholders, including how to participate in the public comment process.

As federal antitrust enforcement continues to evolve, adjust priorities, and in some cases, stall out, states are increasingly enhancing their enforcement focus, resources, and law.