European Union Financial Services Commissioner Maria Luisa Albuquerque said on December 9 that the bloc aims to begin implementing its capital markets union reform package by 2027, marking the first time a timetable has been set for the initiative, BlockBeats and Jinshi reported. The proposal, which still needs approval from the European Parliament and the Council of the EU and faces strong opposition from some member states, would centralize supervisory powers so that major clearing houses, central securities depositories, trading venues and cryptocurrency companies fall under the authority of ESMA.

The Federal Reserve ended balance-sheet reduction on December 1. Foreign media analysis said the FOMC's key signal may focus on balance-sheet strategy rather than a 25 basis-point rate cut. Evercore ISI expects a transition to a Reserve Management Purchase plan. It could start in January 2026 and buy about $35B of Treasury bills per month, lifting annual balance-sheet growth above $400B.

BlockBeats reports that the Hong Kong SAR Government on December 9 launched a public consultation on implementing the OECD's Crypto-Asset Reporting Framework and related amendments to the Common Reporting Standard in Hong Kong. The government aims to complete the required local legislative changes next year, with automatic exchange of tax information on crypto-asset transactions with partner tax jurisdictions targeted from 2028 and implementation of the revised Common Reporting Standard from 2029. Exchanges will apply a reciprocity principle with suitable partners that meet confidentiality and security standards, and the public has been invited to submit views by February 6, 2026. The OECD published the framework in 2023, under which partner tax jurisdictions annually exchange tax data on crypto-asset transactions and incorporate new digital financial products and optimized reporting and due diligence rules into the CRS.

Japan's Financial Services Agency updated its Q&A on December 9 to say that offering derivatives such as CFDs based on overseas crypto asset ETFs in the domestic market is not desirable, citing the lack of approved crypto ETFs in Japan and insufficient investor protection, Yahoo News reported. The regulator said these products effectively track spot crypto asset prices and fall under the category of crypto derivatives, where risk disclosure and regulatory frameworks remain inadequate. IG Securities responded by announcing it will halt CFD trading tied to U.S. spot Bitcoin ETFs, including IBIT and similar products. The stance indicates that crypto derivatives linked to foreign ETFs are unlikely to see near-term liberalization in Japan, as reflected in the FSA's position.

Standard Chartered now expects the Federal Reserve to cut rates by 25 basis points in December, BlockBeats reported on Dec. 9. The bank had previously projected no rate cut.

A 22-year-old California resident, Evan Tangeman, has pleaded guilty to money laundering in connection with a crypto fraud organization that allegedly stole about 4,100 Bitcoin worth $263 million at the time, according to a December 9 announcement from the U.S. Department of Justice cited by The Block. Tangeman admitted to laundering more than $3.5 million for the group, becoming the ninth defendant to plead guilty in the investigation. The scheme, which ran from October 2023 to May 2025, involved hackers, organizers, target identifiers, phone scammers and burglars who stole hardware wallets, and it used breached websites, servers and stolen databases to identify high-value victims.

The Canada Revenue Agency (CRA) said in a Dec. 9 email statement that roughly 40% of taxpayers using cryptocurrency platforms are at risk of tax evasion or high-risk non-compliance. The CRA's crypto asset audit team has 35 auditors handling more than 230 related cases and has recovered over CAD 100 million in taxes through audits over the past three years. The agency acknowledged that current Canadian laws have clear limitations in identifying crypto asset users, leaving regulators unable to reliably determine who uses crypto or assess their tax compliance. Because of this, the CRA has repeatedly sought user data from platforms, including a request to Dapper Labs for information on its top 18,000 users, but after negotiations between lawyers and officials it ultimately obtained data on only 2,500 users.

Markets have fully priced in a Federal Reserve rate cut this month, with consensus shifting toward a hawkish cut, BNY Mellon analysts said in a report on December 8. They said any further monetary easing hinges on whether economic data weaken or inflation falls further in March and June 2026. The FOMC is set to release its dot plot, likely confirming recent policy divisions, and they expect a marked split in members' views on the 2026 policy path. They added that the upcoming change in the Fed Chair poses a risk as markets reassess the policy stance of the new leadership.