Bitcoin's halving event and the recent approval of Bitcoin ETFs by the U.S. SEC could indirectly affect future crypto regulations, according to Natalia Latka, policy director at blockchain analysis firm Merkle Science. Increased volatility and energy consumption concerns could lead to regulatory scrutiny, particularly around market stability, investor protection, and sustainability. Meanwhile, the U.S. law remains unclear on Bitcoin and cryptocurrency, leading to a situation of "regulation through enforcement." In the U.K., the phased implementation of existing regulations to crypto assets creates confusion and legal uncertainty for businesses. In Europe, despite a more comprehensive regulatory framework, further clarifications are still required.