The SEC and Gemini jointly filed a motion requesting a 60-day pause in their legal battle over the exchange’s crypto lending program. The motion asks a Manhattan federal court to suspend all deadlines in the SEC's January 2023 lawsuit. The suit alleged that Gemini failed to register its Gemini Earn program before offering it to retail investors.

The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned eight digital asset wallet addresses used by Houthis to transfer funds associated with their activities. Data from Chainalysis and TRM Labs linked the wallets to Russian crypto exchange Garantex and the Houthis. Two are deposit addresses at major crypto platforms, while the other six are privately controlled. The addresses reportedly moved nearly $1 billion worth of funds linked to sanctioned entities.

House Financial Services Committee Republicans sent letters to multiple agencies requesting the rescission, modification, or re-proposal of certain Biden Administration actions. On digital assets, the lawmakers wrote to Acting FDIC Chair Travis Hill and Acting CFPB Director Russ Vought, urging them to withdraw “several regulatory actions that have stifled innovation, restricting financial institutions’ engagement in digital assets and hindering the growth of fintech companies.” The lawmakers also sent letters to the Federal Reserve and OCC.

The House Financial Services Committee held a subcommittee hearing on tools and techniques to combat fraud. Ranking Member Maxine Waters (D-CA) and Reps. Roger Williams (R-TX) and Sean Casten (D-IL) asked about the role of crypto in fraud and money laundering, while Reps. Young Kim (R-CA) and Zach Nunn (R-IA) highlighted the transparent nature of the blockchain as a means of combating illicit activity. The National Security, Illicit Finance, and International Financial Institutions Subcommittee received testimony from witnesses representing Chainalysis, Flagstar Bank, NFIB, and AARP.

The SEC has reportedly closed an investigation into Haliey Welch, the celebrity promoter of the Hawk Tuah meme coin. The $HAWK meme coin's market value surged upon Welch's announcement of it in December 2024, but then took a steep dive in the subsequent hours. A group of buyers later brought a proposed securities class action over their losses. According to Welch's attorney, James Sallah, the SEC is no longer scrutinizing Welch's involvement with the project.

The Supreme Court has asked the federal government to weigh in on crypto investor James Harper’s petition to reverse a lower court ruling that found the IRS was allowed to seize his records from Coinbase without a warrant. The justices gave the government 30 days to respond. The request came after the government waived its right to respond to the petition, and following support for Harper in amicus briefs from more than a dozen sources, including Elon Musk's X Corp., fives states, and technology and privacy advocacy groups.

The FDIC issued new guidance affirming that FDIC-supervised institutions may engage in certain crypto-related activities without receiving prior regulatory approval. FDIC Acting Chair Travis Hill said in a press release that he expects "this to be one of several steps the FDIC will take to lay out a new approach for how banks engage in crypto- and blockchain-related activities." Senate Banking Committee Republicans tweeted in support of the guidance, arguing that it “will help ensure the United States can be the crypto capital of the world.”

The CFTC withdrew two advisories to ensure that there is no suggestion that “regulatory treatment of digital asset derivatives will vary from its treatment of other products,” which could make it easier for digital asset firms to list crypto futures. The actions affect an advisory on trading from 2018, and one about clearing from 2023.

Crypto.com CEO Kris Marszalek said in a post on X that the SEC’s investigation into the company has been closed with no action taken against it. Crypto.com Chief Legal Officer Nick Lundgren added in a statement that "Under the previous administration, the SEC weaponized and attempted to expand its congressionally granted power in order to harm an industry that its former chair disfavored."