In the second half of 2025, the crypto market will undergo a major reshuffle: MiCA compliance will be a matter of life and death, and the winners will dominate the next bull run.

The second half of 2025 will become a watershed for the Crypto Assets industry, as the EU MiCA regulations are fully implemented. The market is shifting from a pursuit of growth at all costs to a new track that emphasizes Compliance, auditability, and interconnection with TradFi. Mike Romanenko, Chief Value Officer and co-founder of Kyrrex, predicts that the future winners will be those platforms that can make Compliance invisible, Settlement Programmable, and trust measurable, rather than exchanges that rely solely on volume to succeed.

Transformation of the Crypto Market: From Speculation to a Mature Financial Ecosystem

“We are transforming from a market filled with speculation and emerging markets into a mature and regulated financial ecosystem,” Romanenko stated. “Our focus is shifting from pure innovation to reliable infrastructure, compliance regulation, and building institutional trust.”

This transformation marks a fundamental change in the Crypto Assets industry, moving from the early stage of barbaric growth into a new era of deep integration with the TradFi system.

Regulatory Compliance: From Differentiating Factors to Survival Bottom Line

With the establishment of MiCA, the market is rapidly consolidating. In 2022, the number of active exchanges worldwide exceeded 500, but the future will belong to licensed entities. Obtaining a license for Crypto Assets Service Providers (CASP) under the Crypto Assets Market (MiCA) framework or similar frameworks (such as Malta's Class 4 Virtual Financial Assets (VFA)) is no longer a differentiating factor but rather a baseline for survival.

To enhance trust, the platform must commit to:

· Regularly publish Proof-of-Reserves

· Accept independent third-party audits

· Provide transparent proof of solvency and security.

Compliance automation at the exchange level: seamless experience becomes key

Based on obtaining permission, the next focus is to directly integrate Compliance into the platform infrastructure. This means transitioning from manual reviews to a fully coordinated “Know Your Customer” (KYC) and Anti-Money Laundering (AML) process system.

Exchanges that have obtained a Class 4 Virtual Financial Assets (VFA) framework license in Malta (such as Kyrrex) are no longer limited to executing trades. They are increasingly operating as part of a regulatory trust infrastructure, where Compliance is a component of the system.

For token projects and users, this means:

· Seamless and streamlined KYC process

· Automated AML process

· One-stop Compliance Solution

Access to Bank-Level Payment Tracks: The Integration of Encryption and TradFi

The most powerful models connect this regulated framework with the broader financial world. The B2B payment channels for enterprises are quietly reaching a tipping point. Recently, pilot programs for the Regulated Settlement Network (RSN) led by financial giants such as Citigroup, JPMorgan, and Visa have demonstrated that tokenized cash and securities can be settled around the clock on a unified ledger, fully compliant with regulations.

For exchanges, connecting to networks like RSN means:

· Programmability, 24/7 liquidity

· Minimize counterparty risk

· Seamless integration with TradFi systems

JPMorgan's Kinexys digital payment platform is a prominent example, allowing corporate clients to execute cross-border payments through smart contracts, currently processing over $2 billion in transactions daily.

Achieving the operation of tokenized national bonds and liquidity: A new era of capital efficiency

With a bank-grade track, programmability is no longer an abstract concept. Tokenized government bonds can serve as reusable instant collateral, fully automating margin execution and significantly reducing risk.

For businesses and institutional participants, this enables them to implement complex capital management strategies, such as:

· Automatic Counting

· Transfer assets to generate returns without sacrificing liquidity.

· Ensure that capital always maintains productivity

Winning Trust Through Infrastructure and Regulation: Action Plan for the Second Half of 2025

In 2025, the reset is not about chasing headlines, but about building a framework that earns long-term trust. In the second half of the year, infrastructure and regulation will converge, and true participants will join.

MiCA compliance has become a benchmark rather than a differentiating factor. Trust is no longer ambiguous—it is measured by on-chain reserves, auditable flows, and automated Anti-Money Laundering (AML).

Summary

Exchange: Security licenses, release audits, and embedded report API

Project: Choose CASP authorized locations with local anti-money laundering and custody solutions

Investors: Support teams that provide compliant telemetry data, not just slogans.

When the next cycle arrives, trust will no longer be something you build; it will be something you already possess. In this new era, success will belong to those participants who can innovate on a Compliance basis and seamlessly integrate with the broader financial ecosystem.