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.

On 12 Dec 2025, the DTCC received no-action relief from the SEC for a three-year blockchain-based asset tokenization pilot scheduled to begin in the second half of 2026. The program will cover tokenized equities, ETFs, corporate bonds and US Treasuries from major US indexes, while DTCC remains the central record-keeper and tests atomic and near real-time settlement models on permissioned blockchains.

On 11 December 2025, Coinbase announced a feature that will route trades for Solana tokens through on-chain DEX swaps within its main mobile app. From the week of 15 December 2025, selected users will be able to fund these trades with USDC or fiat and gain access to unlisted SPL tokens, while Coinbase keeps centralised KYC and AML checks in place. The company plans to extend availability globally as it completes regional compliance reviews and technical monitoring.

On 9 December 2025, Strive Asset Management launched a $500 million at-the-market preferred stock offering to fund bitcoin purchases and other corporate purposes. The company holds about 7,525 bitcoin with an average purchase price of $113,383 per coin. It reports an unrealised loss of roughly 18 percent following the latest market decline. Strive's ASST shares rose around 3.6 percent after the announcement as it continues to pursue a bitcoin-focused treasury strategy.

In November 2025, the U.S. Securities and Exchange Commission (SEC) ended a two-year investigation into Ondo Finance without recommending enforcement action. The probe, launched in October 2023, examined Ondo's tokenized U.S. Treasury products and whether the ONDO token should be classified as a security under then chair Gary Gensler and later Paul Atkins.

On December 7, 2025, Robinhood Markets agreed to acquire PT Buana Capital Sekuritas and PT Pedagang Aset Kripto in Indonesia. The transactions are expected to close in the first half of 2026, subject to approval by the Indonesian Financial Services Authority (OJK). The move targets a large local retail base, with 19 million capital market investors and about 17 million crypto investors in the country.