On December 12, 2025, the Office of the Comptroller of the Currency conditionally approved national trust bank charters for Ripple, BitGo, Fidelity Digital Assets, Paxos, and Circle. The move advances regulatory onboarding for crypto custody and payments, potentially opening more direct access to U.S. banking rails once conditions are met. No executive statements were posted at that time.

On December 12, 2025, the Office of the Comptroller of the Currency conditionally approved trust bank charters for Ripple, BitGo, Fidelity Digital Assets, Paxos, and Circle. The firms may pursue fiduciary and digital asset custody activities, but must satisfy specified conditions, including a $11.7 million tier 1 capital requirement, before conversion to full operations and broader integration with traditional finance.

Hong Kong Legislative Council member Wu Jietzhuang has stated on X that he will support the development of Web3, emphasizing stablecoins and real-world asset tokenization under clear regulation. He highlights that Hong Kong’s stablecoin bill is progressing without unexpected changes and is broadly aligned with global regulatory practice, aiming to attract developers and strengthen the city’s role in digital finance. Coincu researchers expect that a regulated Web3 and RWA framework could help improve financial structures and risk management.

Moody’s Ratings has introduced a stablecoin credit rating framework, reported on December 13. The methodology evaluates reserve composition, maturities, custody, and operational risk, meaning two tokens with 1:1 USD backing can receive different grades; institutions are watching potential effects on collateral policies and market positioning.

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.