Polish President Karol Nawrocki vetoed the Crypto-Asset Market Act on December 1, 2025, blocking implementation of the EU's MiCA regulation. The presidential office cited concerns over provisions enabling the financial regulator to block cryptocurrency websites with minimal oversight and licensing fees that would burden smaller firms. The veto sends the legislation back to parliament, where a three-fifths majority is required to override the decision.

The Federal Deposit Insurance Corporation is advancing the first regulatory framework for stablecoin issuers under federal banking supervision. The FDIC's proposal establishes qualification requirements and approval mechanisms for companies issuing dollar-pegged tokens under the GENIUS Act. The rule is expected to be submitted to the House Financial Services Committee before the end of the month.

Ethereum developers are advancing a zero-knowledge protocol to strengthen privacy in blockchain transactions. The initiative features a Secret Santa matching system using zero-knowledge proofs and transaction relayers to preserve user anonymity while preventing Sybil attacks, according to research shared via an Ethereum community forum.

YZi Labs, backed by Changpeng Zhao, filed a consent solicitation with the SEC to restructure the board of CEA Industries Inc. (NASDAQ: BNC). The firm holds approximately 5% of BNC shares and cited governance failures, disclosure delays, and a share price decline exceeding 92% since July. BNC holds one of the largest institutional BNB positions globally.

Israel's central bank announced stricter oversight rules for private stablecoin operators as the country prepares to roll out its digital shekel by 2026. Bank of Israel Governor Amir Yaron stated that new licensing, reserve, and reporting requirements will target firms serving local users, citing concerns over market concentration dominated by Tether and Circle.

Vanguard has enabled US clients to trade regulated cryptocurrency ETFs on its brokerage platform, including funds linked to Bitcoin, Ethereum, XRP and Solana. The policy shift follows the appointment of CEO Salim Ramji, former global head of ETFs at BlackRock. XRP ETFs have recorded $756 million in net inflows across 11 trading days with no outflows, according to available data.

The number of XRP wallets holding at least 100 million coins has dropped 20.6% over eight weeks, data show. The remaining accounts now collectively control 48 billion XRP—the highest level since 2018. The divergence points to consolidation among the network's largest holders, with fewer wallets commanding greater aggregate balances.

Bloomberg Senior ETF Analyst Eric Balchunas challenged a Citi research note claiming U.S. spot Bitcoin ETF outflows directly correlate with price declines. Citi estimated each $1 billion in withdrawals corresponds to a 3.4% price drop. Balchunas argued the calculation ignores $22.5 billion in year-to-date inflows, which would imply a 77% price increase by the same logic.