The global cryptocurrency industry is preparing for another pivotal year in 2025 as regulators in Europe, Asia and beyond adopt or expand rules designed to tighten oversight and protect investors.
Developments in 2024 – from the closure of anonymous Bitcoin ATMs in Spain to new guidelines in the Philippines – offer a glimpse of stricter regulatory measures that are likely to shape the market in the coming year.
Europe: From anonymous ATMs to uniform rules
End of anonymous Bitcoin ATMs in Spain
Spain’s once-thriving network of anonymous Bitcoin ATMs is shutting down under newly enforced EU regulations. For transactions over 990 euros, operators now have to verify the identity of users.
This abrupt change is part of the EU’s broader effort to strengthen its anti-money laundering efforts, especially after years of largely unregulated crypto activity.
“These unregulated transactions are being phased out,” noted one industry observer, citing the EU’s goal of cracking down on money laundering and terrorist financing.
A Bitcoin ATM, source: BNC
MiCA enforcement in December 2024
The Markets in Crypto-Assets (MiCA) Regulation – introduced in May 2023 and phased in this year – imposes strict “Know Your Customer” (KYC) requirements and tighter controls on cryptocurrency transactions. The European Securities and Markets Authority (ESMA) has confirmed that the latest wave of MiCA rules will come into force on December 30, 2024 and will cover market abuse and insider trading.
Despite the gradual implementation of MiCA, industry experts warn that both companies and regulators remain unprepared.
“The cryptocurrency industry is not…
