Seven Chinese industry associations supervised by the People's Bank of China and China Securities Regulatory Commission issued a joint notice warning firms against trading or issuing tokenized real-world assets within mainland China. The notice represents the first formal industry warning on RWA tokenization and states that foreign firms and their China-based employees engaging in such activities could face legal consequences. Chinese authorities have not approved any tokenization activities for real-world assets.

Ethereum activated its Fusaka hard fork on December 3, 2025, introducing EIP-7825, which limits individual transactions to 30 million gas to prevent any single transaction from monopolizing block capacity. The change enables predictable zero-knowledge proof processing with worst-case verification times under five seconds. ZK systems can now handle blocks containing 100–200 million gas in real time, supporting Ethereum's scaling objectives, according to Michael Dong, co-founder of Brevis ZK co-processor.

CoinShares head of research James Butterfill has rejected insolvency concerns about Tether following warnings from BitMEX founder Arthur Hayes. Butterfill stated that Tether maintains over $181 billion in reserves against approximately $174.45 billion in liabilities, resulting in a surplus of around $6.78 billion. Hayes had warned on November 30 that a 30% decline in Tether's Bitcoin and gold holdings could eliminate the company's equity.

Federal prosecutors have requested a 12-year prison sentence for Do Kwon, co-founder of Terraform Labs, following his guilty plea to fraud charges in August. Kwon admitted to orchestrating schemes between 2018 and 2022 that deceived cryptocurrency investors and led to TerraUSD's $40 billion collapse in 2022. His defense team has proposed a reduced five-year term, and sentencing is set for December 11.

State Representative Kyle Pierce filed House Bill 1042 on Thursday, requiring cryptocurrency exchange-traded fund options in Indiana's public retirement programs. The legislation also bars local governments from imposing unreasonable restrictions on digital asset activities, including self-custody, payments, and mining operations.

Strive, the 14th-largest public Bitcoin holder, is calling on MSCI to withdraw its proposal that would exclude companies with crypto exposure exceeding 50% of total assets from global indexes. The plan could force firms like Strategy out of the MSCI World Index. JPMorgan estimates the move could result in losses of up to $2.8 billion for affected companies.

Grayscale submitted an S-1 registration to the SEC for the Grayscale Sui Trust, a spot ETF that would hold SUI tokens. The filing follows 21Shares' Tuesday launch of a leveraged SUI fund on Nasdaq. Both products reflect expanding institutional interest in blockchain-focused exchange-traded vehicles beyond Bitcoin and Ethereum.

Tether faces renewed scrutiny after former BitMEX CEO Arthur Hayes questioned its reserve strategy, warning that sharp declines in Bitcoin and gold holdings could eliminate the stablecoin issuer's equity buffer. CoinShares countered by highlighting Tether's $6.8 billion surplus and nearly $10 billion in profits through the first nine months of the year, arguing the company remains financially sound despite concerns.