Moody's introduced a stablecoin rating framework to assess credit and market risks and opened a public comment period that ends on January 26, 2026. The methodology aims to differentiate tokens by reserve quality and operational resilience, with potential implications for widely used fiat-backed stablecoins such as USDT and USDC.

On December 13, Citadel Securities called for the SEC to regulate DeFi protocols that handle tokenized U.S. equity securities as financial intermediaries. Industry groups and DeFi developers pushed back, warning that such an approach could harm innovation and encourage projects to relocate to more permissive jurisdictions.

On December 13, Poland reintroduced its Crypto-Asset Markets Law after a prior veto by President Karol Nawrocki, keeping the text unchanged to align with the EU's MiCA framework. The proposal centers on national security concerns linked to Russia and assigns oversight and licensing duties to the Financial Supervision Authority (KNF), including requirements related to stablecoin reserves.

On December 12, Senator Tim Scott said he had made progress on a cryptocurrency bill after meeting with senior bank leaders, including Bank of America CEO Brian Moynihan. The initiative aims to clarify digital asset market rules, expand SEC and CFTC oversight, and curb stablecoin incentive distortions linked to loopholes in the GENIUS Act, according to Scott.

On December 12, the SEC issued a no-action letter giving DTCC a three-year window to custody tokenized stocks and other real-world assets on a blockchain. The move allows DTCC to expand its digital asset services in 2024. Proponents say tokenization could improve liquidity, enhance collateral mobility and enable round-the-clock market access.

At the Solana Breakpoint Conference, Bitwise Co-founder Matt Hougan said Solana’s application stack drives node performance to its ceiling. He warned that the rise of staking via ETFs or trusts must be managed to avoid destabilizing the ecosystem. On December 11, 2025, SOL was $136.34 with a $76.60 billion market cap and about $5.64 billion in 24-hour volume.

On December 11, dYdX Labs announced the launch of its first Solana spot market with access for U.S. users, broadening its product range beyond derivatives. Perpetual contracts remain unavailable in the U.S. because of regulatory concerns. Solana trades around $134.01 with a market cap of $75.28 billion. Observers view the listing as a strategic response to evolving digital‑asset rules.

Gemini Space Station, Inc. said its affiliate Gemini Titan has received approval from the U.S. Commodity Futures Trading Commission to launch a regulated U.S. prediction market offering binary event contracts. Following the license announcement, GEMI climbed 18% in pre-market trading. The approval process began with an application in March 2020, placing Gemini among other regulated event-contract venues.

On 10 December 2025, Gemini Space Station, Inc. received authorization from the U.S. Commodity Futures Trading Commission to operate its Gemini Titan prediction market platform, allowing affiliate Gemini Titan, LLC to offer binary event contracts to U.S. customers. Following the announcement, Gemini's pre-market share price rose about 18%, signaling investor confidence in the company's expansion into a regulated U.S. market.