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Blockchain Act Passes, NYC Embraces Innovation: Key Developments from June 28, 2025

Washington D.C. & New York City – June 28, 2025 – The blockchain landscape experienced notable shifts today with the passage of the Blockchain Act of 2025 in the U.S. House of Representatives and a significant policy adjustment in New York City. These developments mark a continued, albeit somewhat turbulent, period of growth and regulatory scrutiny within the Web3 ecosystem.

Legislative Momentum: The Blockchain Act of 2025

The U.S. House of Representatives formally approved the Blockchain Act of 2025, signaling a concerted effort by lawmakers to bolster the nation’s position in the global blockchain arena. The bill’s primary objectives, according to sources, are threefold: to stimulate innovation within the blockchain sector, to generate employment opportunities, and to reinforce the United States’ competitive standing against nations like China, which has been aggressively investing in blockchain development. [3]

While the specifics of the bill’s provisions remain under debate in the Senate, the passage represents a crucial step towards establishing a more supportive regulatory environment for blockchain technology. The bill’s proponents argue that a proactive approach is necessary to prevent the U.S. from falling behind in a rapidly evolving technological landscape. The act aims to create a framework that encourages the development and deployment of blockchain-based applications across various industries, from finance and supply chain management to healthcare and voting systems. The legislation includes provisions designed to streamline the process for launching blockchain-based businesses and to foster collaboration between government agencies and the private sector. It also addresses concerns surrounding investor protection and cybersecurity, although the exact details of these safeguards are still being finalized. The bill’s path through the Senate is expected to be contentious, with differing opinions on the appropriate level of government oversight.

New York City Rebrands: Digital Asset Summit Roundtable Signals a Shift

Simultaneously, a significant policy shift occurred in New York City, driven by Mayor Eric Adams’ administration. The inaugural Digital Asset Summit Roundtable, held today in the city, represented a dramatic departure from the previously cautious regulatory approach that characterized the city’s stance on blockchain and tokenization. Notably, the city’s previous regulatory framework, most prominently the BitLicense established in 2015, has been largely abandoned in favor of a more welcoming and supportive environment.

The establishment of the Digital Asset Advisory Council is a cornerstone of this new strategy. Composed of leading figures from the blockchain and digital asset industries, the council’s mandate is to guide the city’s policy decisions, attract investment, and promote responsible fintech growth. The council’s involvement underscores a recognition of the potential economic benefits of blockchain technology and a desire to position New York City as a global hub for innovation in this space.

“We are committed to fostering a dynamic and innovative fintech ecosystem,” stated a spokesperson for Mayor Adams’ office following the roundtable. “Our goal is to create a regulatory environment that encourages responsible growth while unlocking the transformative potential of blockchain technology.” The council’s initial focus will be on developing a clear and predictable regulatory framework for tokenization, addressing concerns related to investor protection and market integrity. The city is also exploring opportunities to integrate blockchain technology into its existing infrastructure, including its financial system and government services.

Market Correction and the Rise of AI Agents

Despite the policy and legislative developments, the broader Web3 market continues to experience volatility. Total capitalization for AI agent tokens has fallen significantly since early June, decreasing from $16.6 billion to $5.9 billion. However, the trend of AI agents within Web3 remains a dominant force. Trading volume for AI agent tokens reached $1.4 billion today, demonstrating continued investor interest in this segment.

The rise of AI agents – autonomous, decentralized applications powered by artificial intelligence – is a defining trend of 2025. These dapps are gaining traction, utilizing token ecosystems to support governance, development funding, and liquidity. The AI agents are often employed for tasks such as smart contract automation, decentralized data management, and personalized user experiences. The market correction reflects a broader downturn in the overall Web3 market, influenced by macroeconomic factors and concerns about overvaluation in some segments. Nevertheless, the underlying technology and potential applications of AI agents continue to drive considerable investment and development activity.

Looking Ahead

As of June 28, 2025, the blockchain landscape is characterized by a combination of legislative support, regulatory shifts, and market volatility. The passage of the Blockchain Act of 2025 represents a significant step towards establishing a more favorable environment for blockchain innovation in the United States. New York City’s embrace of digital assets, signaled by the Digital Asset Summit Roundtable and the creation of the Advisory Council, is a noteworthy development with potentially far-reaching implications. Despite a market correction, the continued growth and adoption of AI agents within Web3 remain a key trend. The coming months will be crucial in determining the long-term trajectory of blockchain technology and its integration into the global economy.

Summary of Developments (June 28, 2025):

Today’s key developments included the passage of the Blockchain Act of 2025 in the U.S. House of Representatives, a significant policy shift in New York City moving towards a more supportive regulatory environment for digital assets, and continued market activity in the AI agent segment of Web3, despite a market correction. The total capitalization for AI agent tokens decreased to $5.9 billion, but trading volume remained substantial at $1.4 billion.

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