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8 Gibraltar International www.gibraltarinternational.comGibraltar Finance ReportBy Paul G. Astengo, Senior Executive, Gibraltar Finance, HM Government of Gibraltar The crypto industry in 2025 is undergoing a regulatory reckoning. No longer dismissed as a Wild West of digital speculation, the sector is now being systematically integrated into global financial frameworks. As institutional investors look for compliance assurance and governments seek to protect consumers, regulation is emerging as both a stabilising force and a driver of maturity.Among the most impactful regulatory developments is the European Union%u2019s Markets in Crypto-Assets Regulation (MiCA), which, for some, has become a global benchmark for how crypto-assets can be supervised effectively without stifling innovation.MiCA: A European milestoneMiCA, in force since 2023 and rolling out fully through 2025, creates a harmonised framework for crypto regulation across the EU. It governs everything from stablecoins and utility tokens to crypto service providers, setting new standards for transparency, risk management, and consumer protection.For stablecoin issuers, MiCA imposes capital reserve requirements and redemption Continued p10Crypto Regulation and the global shift toward clarity and control