The global stablecoin market reached $300 billion by November 2025, marking 48% growth from January levels. The European Central Bank warned that large-scale redemptions could trigger mass Treasury sales, potentially disrupting European monetary policy and reserve management. Dollar-pegged tokens control 99.58% of market share, with major issuers holding most reserves in U.S. Treasury securities.

A European Central Bank Governing Council member has warned that rapid stablecoin expansion poses systemic risks to monetary policy. Olaf Sleijpen of the Dutch central bank noted dollar-pegged stablecoins have grown nearly 50% this year to over $300 billion. Large-scale redemptions could force reserve liquidations and destabilize bond markets, he said.

Dutch central bank governor Olaf Sleijpen has warned that the $300 billion stablecoin market may require European Central Bank monetary policy adjustments if growth continues at current rates. The market has expanded over 48% this year following new U.S. regulations. Euro-pegged stablecoins represent only 0.18% of global circulation compared to dollar tokens' 99.58% dominance, according to DefiLama data.

A trader secured over $2.5 million in profit from a leveraged Starknet position opened three days earlier, data show. The trader has since opened a 10x leveraged long position on Hyperliquid's HYPE token valued at approximately $2.98 million.

Japan's Financial Services Agency has proposed reclassifying 105 cryptocurrencies, including Bitcoin and Ethereum, as financial products under the Financial Instruments and Exchange Act. The initiative would apply a 20% flat capital gains tax rate to digital assets, replacing the current miscellaneous income tax structure that imposes rates up to 55%. Implementation is targeted for early 2026, pending parliamentary approval.

Japan's Financial Services Agency is advancing a regulatory reform to reclassify digital assets as financial products under the Financial Instruments and Exchange Act, according to Asahi Shimbun. The proposal would require exchanges to disclose detailed information on 105 approved tokens and subject crypto to insider trading rules for the first time. The FSA plans to present the legislative package to parliament in 2026.

Japan's Financial Services Agency is drafting regulations to reclassify 105 domestically traded cryptocurrencies, including Bitcoin and Ethereum, as financial products subject to insider trading laws. The proposal would reduce the tax rate on cryptocurrency profits from a progressive structure reaching 55% to a flat 20%, matching the treatment of stock trading gains. The reforms aim to align digital asset regulation with traditional securities markets.

Major South Korean cryptocurrency exchanges are experiencing financial strain as trading volumes decline amid a broader market downturn. Dunamu reported operating profits of 235.3 billion won ($161.7 million) in the third quarter, reflecting a 180% year-over-year increase, while Bithumb recorded operating profits of 70.1 billion won, an eightfold rise. Industry officials warn that heavy reliance on trading fees exposes platforms to market volatility.