U.S. Sen. Cynthia Lummis said the Responsible Financial Innovation Act could reach a markup hearing next week before the holiday recess. A draft expected by the end of this week will be reviewed by industry stakeholders and bipartisan lawmakers and could shift more oversight of digital assets toward the CFTC. Despite renewed bipartisan talks, lawmakers caution that political divisions and jurisdictional disputes may slow the bill’s path to a full Senate vote.

On Tuesday, Twenty One Capital opened at $10.74 in its market debut after merging with Cantor Equity Partners, below Cantor's previous close of $14.27, and by Wednesday's close the stock had fallen 19.97% to $11.42. The shares recovered about 2.2% in after-hours trading to roughly $11.92, valuing the company near $4 billion while it holds more than 43,500 BTC and presents itself as a Bitcoin-focused operating business rather than a pure treasury vehicle. Investors are awaiting more detail on its plans for brokerage, exchange infrastructure, and Bitcoin-based credit and lending lines as sentiment toward crypto-treasury-style companies softens.

Tether's USDT has been formally recognized as an accepted fiat-referenced token in the Abu Dhabi Global Market (ADGM), allowing licensed institutions to offer regulated trading, custody, and settlement services using the stablecoin. The designation broadens USDT's institutional footprint in the Middle East, supports Abu Dhabi's ambition to become a hub for stablecoins and digital assets, and comes as the global stablecoin market surpasses $300 billion in supply, according to DefiLlama.

On Monday, the CFTC introduced a pilot program that lets qualified futures commission merchants use Bitcoin, Ether and payment stablecoins such as USDC as margin collateral in regulated U.S. futures and swaps markets. Acting Chairman Caroline Pham framed it as a controlled test of tokenized collateral, with enhanced reporting, a no-action letter permitting segregated custody of certain digital assets, and withdrawal of 2020 guidance that discouraged crypto collateral. If successful, the trial could extend the role of stablecoins and tokenized Treasuries across clearing, margining and settlement infrastructure on Wall Street.

CoinShares’ 2026 Digital Asset Outlook, published Monday, argues hybrid finance is embedding public blockchains into core market infrastructure. The report cites more than $90 billion in U.S. spot Bitcoin ETF inflows and over one million BTC held by corporate treasuries. It expects broader access via wealth platforms alongside accelerating tokenization.

The US Securities and Exchange Commission has ended its multi‑year investigation into New York–based tokenization platform Ondo Finance without bringing enforcement action, removing a major legal overhang for the firm, according to the company. The probe, launched in October 2023 under former SEC Chair Gary Gensler and carried into 2024, examined whether certain tokenized real‑world assets and the ONDO token complied with federal securities laws. With the case now closed, market focus is shifting to how quickly regulators will issue detailed rules that could support large‑scale tokenized equity and bond offerings in the US.

At the Bitcoin MENA conference, Michael Saylor urged governments to build Bitcoin-backed digital bank accounts using heavily overcollateralized tokenized credit tied to sovereign BTC reserves, arguing the model could attract tens of trillions of dollars in deposits. Strategy recently bought 10,624 BTC for about $962.7 million, bringing its holdings to 660,624 BTC worth more than $60 billion, even as its share price has dropped roughly 51% over the past year.

French banking group BPCE has launched in-app cryptocurrency trading for Bitcoin, Ethereum, Solana, and USDC across its Banque Populaire and Caisse d'Épargne mobile platforms. The service initially covers two million customers at four regional banks, with plans to expand to 12 million users by 2026. Customers will access trading through dedicated digital asset accounts managed by BPCE's crypto subsidiary Hexarq, with a monthly fee of €2.99 and a 1.5% transaction commission.

South Korea's Financial Services Commission is advancing legislation requiring cryptocurrency exchanges to compensate users for losses from hacks and system outages under no-fault liability standards similar to traditional banks. The proposal follows a November 27 breach at Upbit involving approximately 104 billion Solana-based tokens valued at 44.5 billion won ($30.1 million USD). Under the framework, exchanges would face stricter cybersecurity requirements and potential fines up to 3% of annual revenue for security incidents.