The US Securities and Exchange Commission has closed its multi‑year investigation into New York–based tokenization platform Ondo Finance without bringing enforcement action, lifting a key legal risk for the firm. The inquiry, which began in October 2023 under former SEC Chair Gary Gensler and continued into 2024, examined whether certain tokenized real‑world assets and the ONDO token complied with federal securities laws. With the case now resolved, attention is shifting to how quickly regulators will provide detailed rules that could enable large‑scale tokenized equity and bond offerings in the U.S. market.

Former People’s Bank of China monetary policy adviser Liu Shijin has urged China to increase imports and settle more foreign trade in yuan over the next five years to narrow its trade surplus and boost offshore yuan liquidity. He also called for more yuan-denominated financial products to be launched in overseas markets, according to his recent remarks. At the same time, China’s top leadership has outlined plans to prioritize domestic demand from 2026. The comments come as the European Union, led by French President Emmanuel Macron, signals the possibility of strong measures over trade imbalances.

BPCE, France’s second-largest banking group, opened in-app crypto trading on Monday for selected Banque Populaire and Caisse d’Épargne customers. The limited rollout lets about 2 million users across four regional banks buy and sell Bitcoin, Ethereum, Solana and USDC. BPCE aims to extend availability by 2026 across 25 remaining regional entities.

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 December 9, 2025, Fitch Ratings cautioned that U.S. banks expanding into crypto and digital-asset services face reputational, liquidity, operational, and compliance risks that could weigh on their ratings. The report cited initiatives at large institutions including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. It highlighted that rapid stablecoin growth may threaten financial stability and affect U.S. dollar and Treasury markets. Moody's has likewise flagged systemic risks if USD-linked stablecoins see widespread adoption.

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.

On December 9, 2025, the CFTC launched a pilot program that allows Bitcoin, Ethereum, and USDC to be posted as margin collateral in U.S. derivatives markets, limiting their use to collateral for the first three months, according to the agency. The CFTC also cleared spot crypto trading on CFTC‑registered venues, and Bitnomial plans to introduce leveraged spot products this week.

Bitcoin rebounded from around $78,000 and is attempting to climb toward the $98,000–$103,000 zone. The move is unfolding on shrinking volume while key moving averages slope downward. Shiba Inu is trying to stabilize above its November low near $0.0000080 but still trades below major long-term moving averages. XRP remains confined in a descending channel, with any sustainable breakout dependent on stronger buying participation.