HashKey is planning a Hong Kong initial public offering that would make it the city’s first listed cryptocurrency exchange, aiming to raise up to HK$1.67B (about $215M) through a global share sale, according to its prospectus. The deal, which runs through Friday with trading due to start on December 17, would value the company at around HK$19B at the top of the price range and fund product innovation, custody enhancements and infrastructure expansion.

On December 8, 2025, the U.S. CFTC launched a pilot allowing Bitcoin, Ether and USDC to be used as collateral in regulated derivatives markets, according to the agency. For the first three months, futures commission merchants may accept only these assets and must submit weekly reports. The agency also issued guidance on tokenized collateral and withdrew a 2020 advisory.

On Tuesday, Bitcoin traded around $90,000 while major Asian equity benchmarks in Korea, Japan and Australia opened lower amid caution over upcoming Federal Reserve policy moves. Traders broadly expect a 25 basis-point rate cut this week but have scaled back projections for further easing through 2026, weighing on crypto prices and broader risk assets.

Bitcoin rose approximately 1.9% to trade near $90,000 on Monday, while Asian equity markets recorded modest gains. Traders positioned ahead of the Federal Reserve's policy meeting, with futures markets pricing in an 85% probability of a quarter-point rate cut. The total cryptocurrency market capitalization reached $3.18 trillion, marking a 1.3% increase.

Italy's securities regulator Consob has set a December 30, 2025 deadline for crypto providers to secure authorization under the EU's Markets in Crypto-Assets regulation or cease operations. Firms currently registered as Virtual Asset Service Providers must transition to MiCAR-compliant Crypto-Asset Service Providers by the deadline or wind down their Italian business. Providers that submit authorization applications by December 30 may continue serving customers while awaiting regulatory decisions, with provisional operations ending no later than June 30, 2026.

Connecticut's Department of Consumer Protection issued cease-and-desist orders to Kalshi, Robinhood, and Crypto.com on December 3, 2025, for allegedly offering sports-related prediction contracts without state licenses. The platforms must immediately stop providing such services to Connecticut residents and allow fund withdrawals. Non-compliance may result in civil penalties under state unfair trade practices law or criminal charges for gaming violations.

Bitcoin traded around $93,000 during Asian hours Thursday as softer US economic indicators strengthened market expectations for a Federal Reserve interest rate reduction. Analysts cited positive momentum from recent institutional developments, including Vanguard's policy shift on crypto-linked ETFs and speculation about potential Fed leadership changes. The total cryptocurrency market capitalization rose 1.8% to $3.27 trillion.

Bitcoin's current market cycle demonstrates increased maturity through rising institutional participation and declining volatility, data show. Tokenized real-world assets have surged 243% year-over-year to $24B, according to Glassnode, while Bitcoin has absorbed approximately $732B in new capital with one-year realized volatility nearly halving.

Bitcoin traded near $92,000 during Asian hours Wednesday as regional equities steadied and futures pointed to reduced volatility. The cryptocurrency recovered alongside broader risk assets after earlier bond market turbulence and selling pressure eased across global markets.