At the beginning of the new year, with everything renewed, Foresight News will lead everyone to look forward to the major events and annual summits of the new year, and embark on an industry exploration journey in 2025 together.
Author: angelilu, Foresight News
The crypto world recorded multiple groundbreaking breakthroughs in 2024: the Bitcoin halving occurred as scheduled, the Ethereum Cancun upgrade was completed, and the US crypto ETF was finally approved. Looking ahead to 2025, although there are fewer milestones with clear time nodes, this "uncertainty" may open up a wider imagination space for the industry. A year without a predetermined script often contains more possibilities for innovation and breakthroughs.
To help industry insiders plan for the future, we have sorted out the important time nodes in the crypto field in 2025, and summarized more than 40 Web3 industry events worth paying attention to.
January 20: Trump Returns to the White House
An important time point in 2025 that will affect the crypto industry and the global economy as a whole is the inauguration of Donald Trump as the 47th President of the United States. The inauguration ceremony is scheduled for January 20, 2025, and many crypto companies such as Ripple, Kraken, and Ondo, as well as many tech companies, have provided financial support for Trump's inauguration ceremony.
The market is closely watching the policy direction of the Trump 2.0 government. Although the specific policy details and implementation plans are not yet clear, Trump's positive attitude towards cryptocurrencies during the election campaign suggests that the Web3 industry may usher in new development opportunities, and the US regulatory policy is expected to become more open and inclusive. Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), will step down on the day of the presidential inauguration, which may help ease the long-standing tension between the crypto industry and regulatory agencies.
The important bills that the Trump administration is likely to promote include three items: the Bitcoin Reserve Act, the Financial Innovation Act (FIT21), and the Stablecoin Clarity Act. Among them, the Bitcoin Reserve Act proposed by Senator Cynthia Lummis suggests that the US Treasury Department accumulate 1 million bitcoins within five years. This bill will not only enhance the status of Bitcoin, but if passed, it may also lead to imitation by multiple countries. FIT21, as a comprehensive bill, aims to build a complete legal framework for cryptocurrencies, blockchain technology and digital assets, clearly define the commodity or securities attributes of cryptocurrencies, and propose a regulatory model led by the Commodity Futures Trading Commission (CFTC) and assisted by the Securities and Exchange Commission (SEC).
Looking to the future, the policy dividends of the Trump administration may also include: accelerating the approval of more crypto spot ETFs, supporting crypto unicorn companies like Ripple and Circle to go public in the US, and opening up US pension funds to invest in cryptocurrencies.
First Quarter: Ethereum Pectra Upgrade
The Ethereum Foundation plans to implement the important "Pectra" upgrade in the first quarter of 2025. This upgrade will further optimize the performance of the Ethereum network. Since this upgrade includes a large number of EIPs, Pectra plans to implement all EIPs in two hard forks. Key changes include allowing users to use different tokens to pay gas fees, accelerating smart contract execution speed, and increasing the staking rewards for validators. Some of these are expected to improve the experience of users and smart contract developers, and the biggest update for users is that they can use cryptocurrencies other than ETH to pay gas fees.
January 1: IRS Implements New Accounting Standards
The US Internal Revenue Service (IRS) will introduce a new 1099-DA reporting system on January 1, 2025, requiring all crypto exchanges to use the new 1099-DA form to report user transaction information. The new regulations require exchanges to record detailed information such as the purchase price, selling price, and holding period of users' transactions, and provide relevant reports to users and the IRS by January 31 each year. This policy will help investors more accurately calculate capital gains tax, and also bring a more standardized tax compliance system to the crypto market, which is an important step for the crypto industry to move towards the mainstream financial market.
January 1: Basel Crypto Asset Risk Framework
The Basel Committee on Banking Supervision (BCBS) will implement the "Bank Crypto Asset Disclosure Framework and Capital Standard" on January 1, 2025. The BCBS is an international organization composed of central banks and banking regulatory authorities from around the world. The main task of the BCBS is to formulate global banking standards and rules to ensure the stability and safety of banking systems in various countries, although the BCBS standards are not laws, their recommendations are usually adopted and implemented by the central banks and regulatory authorities of various countries. The main changes and requirements of the new regulations include: increasing the risk assessment of the crypto asset infrastructure, ensuring the redemption capability of stablecoins under stress, strengthening the regulation of stablecoin issuers, and limiting the amount of high-risk crypto assets that banks can hold.
January 1: Korean Crypto Exchanges Required to Pay Regulatory Fees
The crypto retail investor group in Korea is large, and Korea has also been working hard on the regulation of crypto trading. According to Korean media reports, the "Financial Services Commission (FSC) Establishment Act" will be implemented on January 1, starting from 2025, virtual asset service providers in Korea, including Dunamu (Upbit), Bithumb, and Coinone, will be required to pay regulatory fees. The regulatory fees are calculated based on operating revenue and are paid by financial institutions such as banks, investment companies, and insurance companies to cover the FSC's inspection and supervision services.
The specific payment rate will be determined around March, and the regulatory authorities have notified an annual payment level of about 60 billion won. It is estimated that Upbit will bear about 50 billion won in regulatory contributions (based on Dunamu's 2023 consolidated financial statement operating revenue), and Bithumb and Coinone will each pay about 6 billion won. The actual payment scale may vary depending on this year's operating revenue.
January 3: FTX Reorganization Plan Takes Effect
After two years of waiting, FTX creditors will finally get their asset payouts. The FTX Chapter 11 reorganization plan will officially take effect on January 3, 2025, and the first round of distribution will be launched within 60 days after the effective date. FTX creditor advocate Sunil said that the funds recovered by FTX are about $13 billion, and it is expected to increase to $14 billion by March. The venture capital investment portfolio and litigation are expected to recover $5-7 billion, and the disputed claims will reserve about $7 billion (50% ratio), which will not participate in the initial distribution. The first batch of about $7 billion in cash will be distributed in March 2024, and subsequent distributions will be made after the resolution of the disputed claims. The recovery of the remaining assets is expected to be completed within the next 2-3 years. According to its bankruptcy plan, FTX will first pay 98% of the creditors in cash based on the dollar value of the claims as of the bankruptcy in November 2022, with an expected payout ratio of 118%; the remaining creditors will also receive 100% of the payout ratio, plus tens of billions of dollars in time value compensation.
FTX's initial distribution is aimed at the "Convenience Classes" of approved claim holders. FTX has reached agreements with crypto custodian BitGo and exchange Kraken to provide asset distribution services for retail and institutional clients. To qualify for the first round of distribution, users need to complete the following steps by January 3, 2025: log in to the FTX debtor customer portal, complete KYC identity verification, submit necessary tax forms, and open an account with BitGo or Kraken.
January 15: Crypto-themed movie "Crypto Man" premieres
The crypto-themed movie "Crypto Man" directed by South Korean director Hyeon Hae-ri will be released on January 15, 2025, adapted from a 34.9 billion US dollar crypto crash incident, starring the late actor Song Jae-rim. The film tells the story of the protagonist Yang Do-hyeon (played by Song Jae-rim), who, after experiencing multiple failed startups, successfully co-issues the cryptocurrency MOMMY with his friends, but then encounters regulatory scrutiny. The film, after strict legal consultation, will present the current situation of young Koreans "trading stocks during the day and cryptocurrencies at night" in a black comedy form. According to Upbit data, as of the end of 2023, there are 3,759 crypto billionaires in South Korea, with an average of 3.65 million US dollars in digital assets held by investors under 20 years old.
June 30: The first transition period of the EU MiCA regulation ends
The EU Regulation on Markets in Crypto-Assets (MiCA) has been fully implemented since the end of last December, which is the world's first comprehensive regulatory framework specifically for crypto-assets. The regulation will require all crypto service providers operating in the EU to obtain specific licenses and comply with strict capital adequacy requirements. Additionally, the regulation will introduce standards for stablecoin issuance, requiring issuers to hold sufficient reserves and disclose their reserve status on a regular basis. The implementation of this framework will bring higher transparency and stability to the EU crypto market, promoting the mainstream adoption of crypto-assets.
October 31: Mt.Gox compensation deadline
Mt.Gox has changed the compensation deadline from October 31, 2024 to October 31, 2025. Mt.Gox stated that the claims of most creditors have been basically completed by October 2024, and this extension is mainly considering that some creditors may not have completed the application process within the original deadline due to various reasons (such as insufficient document preparation, communication barriers, etc.).
Mt.Gox was once one of the largest Bitcoin exchanges in the world, and filed for bankruptcy in February 2014 after losing about 850,000 Bitcoins due to a hacker attack, affecting more than 24,000 users globally. According to the compensation plan, since the stolen assets cannot be recovered, Mt.Gox can only compensate creditors with approximately 23.6% of the original claims. The compensation assets consist of two parts, one part is cash from the sale of BTC by the Japanese government at the 2017 peak, and the other part is BTC. The cash portion is 5%-10%, and the BTC portion is 95%-90%, with the specific ratio being selectable.
2025: Development of Hong Kong's virtual asset regulation
The Hong Kong Monetary Authority expects to launch a comprehensive stablecoin regulatory framework in 2025, and the "Stablecoin Bill" has undergone its first reading in December 2024, with the legislative process being accelerated. If passed, this will be one of the most comprehensive stablecoin regulatory systems in the Asia-Pacific region. According to the proposed licensing system, issuers of fiat-backed stablecoins or those actively promoting the issuance of their fiat stablecoins to the Hong Kong public must obtain a license from the Commissioner of Financial Services.
In addition, according to the virtual asset regulatory roadmap previously released by the Hong Kong government, Hong Kong will establish a Virtual Asset Licensing Platform Advisory Group in early 2025 and propose a licensing regime for virtual asset custody service providers in 2025. This regime will require custody service providers to obtain a license in order to operate in Hong Kong, in order to strengthen the protection of investors' assets.
In addition to the above few events with confirmed or roughly announced dates, Uniswap's new network Unichain will be launched in early 2025, Linea token will be launched in the first quarter of 2025, and the Foresight News calendar will be updated in real-time with industry dynamics, which can be accessed here.
A sneak peek at the Web3 events worth looking forward to in 2025
January
METAVSUMMIT
Date: January 7-8, 2025
Location: Dubai, UAE
Link: https://metavsummit.com/
Move DevCon
Date: January 11, 2025
Location: Shenzhen, China
Link: https://www.bagevent.com/event/8949498
DavosWeb3
Date: January 22, 2025
Location: Davos, Switzerland
Link: https://davosweb3.com/
WAGMI 2025
Date: January 22-24, 2025
Location: Florida, USA
Link: https://wagmi.miami/
February
NFT Paris 2025
Date: February 13-14, 2025
Location: Paris, France
Link: https://www.nftparis.xyz/
Consensus 2025
Date: February 18-20, 2025
Location: Hong Kong, China
Link: https://consensus-hongkong2025.coindesk.com/
ETHDenver 2025
Date: February 23 - March 2, 2025
Location: Denver, USA
Link: https://www.ethdenver.com/
Pragma Denver 2025
Date: February 25, 2025
Location: Denver, USA
Link: https://ethglobal.com/events/pragma-denver2025
March
Crypto Expo Europe
Date: March 2-3, 2025
Location: New York, USA
Link: https://cryptoexpoeurope.com/
Web3 Amsterdam
Date: March 13-14, 2025
Location: Amsterdam, Netherlands
Link: https://web3amsterdam.com/
Digital Asset Summit 2025
Date: March 18-20, 2025
Location: New York, USA
Link: https://blockworks.co/event/digital-asset-summit-2025-new-york
Next Block Expo - Warsaw 2025
Date: March 19-20, 2025
Location: Warsaw, Poland
Link: https://nextblockexpo.com/
Southeast Asia Blockchain Week 2025
Date: March 30 - April 5, 2025
Location: Bangkok, Thailand
Link: https://seablockchainweek.org/
April
Pragma Taipei
Date: April 3, 2025
Location: Taiwan
Link: https://ethglobal.com/events
ETHGlobal Taipei 2025
Date: April 4-6, 2025
Location: Taiwan
Link: https://ethglobal.com/events/taipei
Hong Kong Web3 Carnival 2025
Date: April 6-9, 2025
Location: Hong Kong, China
Link: https://www.web3festival.org/hongkong2025
Paris Blockchain Week 2025
Date: April 8-10, 2025
Location: Paris, France
Link: https://www.parisblockchainweek.com/
TEAMZ Web3/AI Summit 2025
Date: April 16-17, 2025
Location: Japan
Link: https://teamzsummit.com/
Location: Tokyo, Japan
Link: https://web3.teamz.co.jp/
TOKEN2049 Dubai 2025
Date: April 30 - May 1, 2025
Location: Dubai, UAE
Link: https://www.dubai.token2049.com/
May
Canada Crypto Week
Date: May 11 - 17, 2025
Location: Toronto, Canada
Link: https://www.canadacryptoweek.com/
ETHWomen
Date: May 13, 2025
Location: Toronto, Canada
Link: https://www.ethwomen.com/
Bitcoin Las Vegas 2025
Date: May 27 - 29, 2025
Location: Las Vegas, USA
Link: https://b.tc/conference/2025
Pragma Prague
Date: May 29, 2025
Location: Prague, Czech Republic
Link: https://ethglobal.com/events
ETHGlobal Prague
Date: May 30 - June 1, 2025
Location: Prague, Czech Republic
Link: https://ethglobal.com/events
June
Non Fungible Conference 2025
Date: June 4 - 6, 2025
Location: Lisbon, Portugal
Link: https://www.nonfungibleconference.com/
Istanbul Blockchain Week
Date: June 18 - 19, 2025
Location: Istanbul, Turkey
Link: https://istanbulblockchainweek.com/
BTC Prague
Date: June 19 - 21, 2025
Location: Prague, Czech Republic
Link: https://btcprague.com/#
NFT NYC 2026
Date: June 23 - 25, 2025
Location: New York, USA
Link: https://www.nft.nyc/
Permissionless IV
Date: June 24 - 26, 2025
Location: New York, USA
Link: https://blockworks.co/event/permissionless-iv
EthCC 8
Date: June 30 - July 3, 2025
Location: Cannes, France
Link: https://ethcc.io/
July
IVS2025 KYOTO
Date: July 2 - 4, 2025
Location: Kyoto, Japan
Link: https://www.ivs.events/2025
Pragma Cannes
Date: July 3, 2025
Location: Cannes, France
Link: https://ethglobal.com/events
ETHGlobal Cannes
Date: July 4 - 6, 2025
Location: Cannes, France
Link: https://ethglobal.com/events
August
FORESIGHT 2025
Date: August 2025
Location: Asia
Link: Stay tuned
Pragma New York 2025
Date: August 14, 2025
Location: New York, USA
Link: https://ethglobal.com/events
WebX Asia 2025
Date: August 28 - 29, 2025
Location: Tokyo, Japan
Link: https://webx-asia.com/2025/
September
ETHSofia
Date: September 2025
Location: Sofia, Bulgaria
Link: https://www.ethsofia.com/
Pragma New Delhi
Date: September 25, 2025
Location: New Delhi, India
Link: https://ethglobal.com/events
ETHGlobal New Delhi
Date: September 26 - 28, 2025
Location: New Delhi, India
Link: https://ethglobal.com/events
October
TOKEN2049 Singapore 2025
Date: October 1 - 2, 2025
Location: Singapore
Link: https://www.asia.token2049.com/
Blockchain Life 2025
Date: October 28 - 29, 2025
Location: Dubai, UAE
Link: https://blockchain-life.com/
November
Australian Crypto Convention 2025
Date: November 22 - 23, 2025
Location: Sydney, Australia
Link: https://auscryptocon.com/
ETHWomen
Date: November 5 - 6, 2025
Location: Florida, USA
Link: https://www.ethwomen.com/
December
Solana Breakpoint 2025
Date: December 11 - 13, 2025
Location: Abu Dhabi, UAE
Link: https://solana.com/breakpoint
TBD
EDCON 2025
KBW2025
Mainnet 2025
Thailand Blockchain Week 2025
IBW2025
Taipei Blockchain Week 2025
