On 19 December 2025, the Council of the European Union agreed on a negotiating mandate for the digital euro that requires both online and offline payment options. The framework confirms the European Central Bank as issuer, introduces holding limits and basic free services, and outlines a path toward pilots in 2027 and potential issuance in 2029. The move diverges from earlier European Parliament ideas centered on offline-only use and opens inter‑institutional negotiations on the CBDC’s legal design.

On 19 December 2025, Metaplanet Inc., a Japanese Bitcoin treasury-focused company, began trading its new sponsored ADRs on the US OTC market under the ticker MPJPY. The Level I program, with Deutsche Bank Trust Company Americas as depositary and a 1:1 ADS-to-share structure, replaces prior unsponsored trading under MTPLF without changing total shares. The company says this setup aims to cut transaction costs, standardise US dollar settlement and broaden access for US investors seeking Bitcoin treasury exposure.

On 19 Dec 2025, Intercontinental Exchange, owner of the New York Stock Exchange, was reported to be in talks to acquire a stake in crypto payments firm MoonPay at a valuation near $5 billion. This prospective deal would follow ICE's earlier backing of Bakkt and a $2 billion investment in Polymarket, expanding its reach from trading venues into consumer and institutional payment flows. MoonPay, last valued at $3.4 billion in a 2021 Series A, has also secured a limited purpose trust charter in New York, giving institutions a regulated option for crypto custody and OTC trading.

On 18 Dec 2025, Itaú Asset Management, the investment arm of Brazil's largest private bank, outlined guidance for a 1% to 3% Bitcoin allocation in diversified client portfolios beginning in 2026. The firm frames Bitcoin as a separate risk bucket aimed at diversification, partial protection against Brazilian real depreciation, and exposure to potential long-term price appreciation.

On 17 December 2025, the SEC's Division of Trading and Markets issued staff guidance explaining how broker-dealers can treat crypto asset securities as being in their physical possession when they hold and control the associated private keys. The statement details operational conditions for crypto custody under Rule 15c3-3, distinguishes "physical possession" from "control," and updates prior 2019 guidance on non-custodial models.

On 16 Dec 2025, the US Senate Banking Committee postponed markup of the Digital Asset Market Clarity Act of 2025, known as the CLARITY Act, pushing any decision on federal crypto market structure rules into early 2026. The House had already passed H.R.3633 in July 2025, so the Senate delay leaves trading platforms, token issuers and financial institutions without a unified national framework for digital asset trading and custody.

On 15 Dec 2025, Pakistan's Ministry of Finance signed a non-binding memorandum of understanding with Binance Investments to explore tokenizing up to $2 billion in state assets. The plan focuses on issuing blockchain-based versions of sovereign bonds, treasury bills and commodity reserves to enhance liquidity and attract investors, with regulatory steps tied to FATF-aligned compliance.

On 14 Dec 2025, the US tally of pending crypto ETFs reached 126, according to Bloomberg Intelligence analyst James Seyffart. Managers ramped submissions through Q4 2025, up from 92 in late August 2025, with most proposals centered on Bitcoin, basket products, XRP and Solana. The SEC's review windows and 2025 standards place many deadlines into early 2026.

On December 8, 2025, French banking group BPCE rolled out in-app trading for Bitcoin, Ethereum, Solana, and USDC to about two million clients of Banque Populaire and Caisse d'Épargne. The initial phase spans four regional banks, with custody handled by BPCE's Hexarq and pricing set at €2.99 per month plus a 1.5 percent spread.