Crypto News Round-Up — September 2025

The past 24 hours brought key developments across the cryptocurrency industry. U.S. regulators announced a joint crypto initiative, and the SEC unveiled a broad policy agenda for digital assets. At the same time, Hong Kong’s largest exchange launched a $500 million crypto treasury fund, and the Gemini exchange raised its IPO price range. Below is a concise summary of these stories.

• U.S. Regulators Launch Joint Crypto Initiative
• SEC Unveils New Crypto Policy Agenda
• Hong Kong Exchange HashKey Launches $500M Fund
• Gemini Exchange Lifts IPO Price Range

U.S. Regulators Launch Joint Crypto Initiative

On September 2, 2025, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced a coordinated effort to align their oversight of digital assets (Reuters). The agencies will issue guidance on the listing of leveraged, margined or financed crypto transactions, aiming to clarify regulatory requirements in this evolving market. By working together, the SEC and CFTC signal a unified approach to address new risks and protect investors in the cryptocurrency space.

• Coordinated guidance may reduce confusion by clarifying which regulator oversees different crypto products.
• A unified approach could bolster investor protection and market integrity amid rising crypto adoption.
• The joint announcement suggests regulators are adapting traditional rules to the growing digital asset market.

SEC Unveils New Crypto Policy Agenda

In early September 2025, the SEC released a comprehensive rulemaking agenda to overhaul its cryptocurrency regulations (Reuters). The proposals include clear definitions for digital asset offerings, potential exemptions and safe harbors, and allowing crypto assets to be traded on national securities exchanges and alternative trading systems. SEC Chair Paul Atkins emphasized the agency’s commitment to innovation and capital formation as regulators update existing rules for digital assets.

• The agenda signals a shift towards integrating crypto with Wall Street, potentially expanding market access.
• Clearer rules and safe harbors could encourage more companies to launch crypto products or token offerings.
• By updating regulations, the SEC aims to provide certainty and foster confidence for crypto investors and firms.

Hong Kong Exchange HashKey Launches $500M Fund

HashKey Group, Hong Kong’s largest licensed cryptocurrency exchange, announced the launch of its first Digital Asset Treasury (DAT) fund with an initial $500 million target (Reuters). The multi-currency fund will focus on mainstream cryptocurrencies, especially projects in the Bitcoin and Ethereum ecosystems. HashKey says the fund is modeled after large U.S. firms that hold significant digital assets, and it aims to standardize crypto asset investment while supporting the growth of the Web3 ecosystem.

• The launch reflects growing institutional interest in crypto assets, particularly in Asia’s regulatory-friendly markets.
• Allocating significant capital to a diversified crypto fund could attract more professional investors to the sector.
• By emphasizing mainstream coins and Web3 development, the fund may help drive further adoption and innovation.

Gemini Exchange Lifts IPO Price Range

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has raised the price range of its planned initial public offering to $24–$26 per share, targeting roughly a $3.08 billion valuation (Reuters). The exchange plans to sell 16.67 million shares on Nasdaq under the ticker “GEMI,” aiming to raise about $433.3 million. With Goldman Sachs and Citigroup leading the deal, Gemini would become the third crypto exchange to go public in the U.S., following Coinbase and Bullish.

• Investor demand for the Gemini IPO reflects strong appetite for crypto stocks amid favorable market conditions.
• A major exchange listing on Nasdaq highlights growing acceptance of crypto businesses in mainstream finance.
• Proceeds from the IPO could fuel further expansion and product development at Gemini, supporting growth.

Note: The cryptocurrency market is extremely volatile and speculative. News developments can lead to rapid price swings. This roundup is for informational purposes and not investment advice — always do your own research before making any financial decisions.

Bottom Line

Recent developments show regulators and mainstream finance are focusing more on cryptocurrency. Joint efforts by the SEC and CFTC to clarify rules should bring greater market confidence, while big investments and IPOs demonstrate continued institutional interest. That said, the crypto space remains highly risky and fast-moving, so participants should stay cautious and well-informed.