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.

JPMorgan analysts project the U.S. stablecoin market will grow to approximately $700 billion in the coming years, significantly below the White House's $2-4 trillion target for 2028-2030. Teresa Ho, Head of U.S. short-duration strategy at JPMorgan, expressed doubt about rapid multi-trillion dollar expansion despite positive momentum following the GENIUS Act. The sector surpassed $300 billion in total market supply after the legislation passed in July.

The International Monetary Fund published a comprehensive stablecoin assessment on December 5, 2025, warning that inconsistent national regulations are creating structural obstacles for oversight and cross-border payments. The fund called for harmonized definitions, uniform reserve requirements, and coordinated supervision as the market exceeds $300 billion. Divergent national frameworks allow issuers to operate from jurisdictions with lighter oversight while serving users in stricter markets, undermining authorities' capacity to monitor reserves and compliance.

Financial executives from Citadel Securities, Coinbase, Galaxy, and BlackRock revealed sharp disagreements over tokenization regulation during a Thursday SEC Investor Advisory Committee meeting. The session followed a Wednesday letter from Citadel Securities recommending stricter SEC oversight of DeFi protocols handling tokenized securities. Crypto advocates pushed back, arguing such rules are impractical for decentralized systems.

The Commodity Futures Trading Commission has authorized spot cryptocurrency trading on federally regulated futures exchanges in the United States. Acting Chair Caroline Pham announced Thursday that registered exchanges can now list spot crypto products, according to guidance from the President's Working Group on Digital Asset Markets. The move follows coordination among U.S. regulators and marks a historic expansion of the agency's oversight to include direct asset purchases and sales.

The Commodity Futures Trading Commission has authorized spot cryptocurrency trading on federally regulated U.S. futures exchanges. Bitnomial, a U.S.-based derivatives platform, will launch next week, offering retail and institutional investors access to spot, futures, and options trading under CFTC supervision. The move aligns with efforts to establish regulated alternatives to offshore platforms.

Indian cryptocurrency investors now hold 4–6 tokens on average, up from 2–3 in 2022, according to CoinDCX's 2025 annual report. India's crypto market recorded $618.5 million in total spot trading volume for 2025, with monthly volume averaging $51.6 million. Bitcoin remains the most held asset, while Ethereum leads in trading activity.

Reform UK secured £9 million ($12 million) from British crypto investor Christopher Harborne, the largest single political donation by a living individual in UK history, Electoral Commission figures show. The contribution comes as the UK government examines potential restrictions on cryptocurrency donations to political parties over transparency and foreign interference concerns.