The Bank of Lithuania set 31 December 2025 as the final deadline for crypto-asset service providers to obtain MiCA authorisation. After that date, unlicensed operations will be deemed illegal financial activity and can be punished by up to four years of imprisonment. More than 370 firms are registered, around 120 are active, and about 30 have applied for licences.

On 24 Dec 2025, Spain confirmed it will apply the EU's Markets in Crypto-Assets framework from July 2026 instead of the earlier December 2025 target. Crypto-asset service providers will have up to 18 months from the main MiCA start date in late 2024 to obtain authorisation or cease serving Spanish clients. The revised timetable aligns Spain with the maximum transition period allowed under supervisory guidance.

On 24 Dec 2025, China Properties Investment Holdings Limited (0736.HK) approved a plan to buy BNB with internal funds and keep it as a strategic reserve. Purchases will be made on the open market in batches under Hong Kong rules and internal controls, with no impact on daily operations, and are framed as portfolio diversification.

On December 19, Rep. Max Miller and Steven Horsford introduced a bipartisan discussion draft that would exempt regulated stablecoin payments under $200 per transaction from capital gains tax. The Digital Asset PARITY Act also proposes allowing taxpayers to defer income recognition on staking and mining rewards for up to five years, with those rewards later taxed as ordinary income at fair market value.

On 19 December 2025, the Council of the European Union agreed on a negotiating mandate for the digital euro that requires both online and offline payment options. The framework confirms the European Central Bank as issuer, introduces holding limits and basic free services, and outlines a path toward pilots in 2027 and potential issuance in 2029. The move diverges from earlier European Parliament ideas centered on offline-only use and opens inter‑institutional negotiations on the CBDC’s legal design.

On 19 December 2025, Metaplanet Inc., a Japanese Bitcoin treasury-focused company, began trading its new sponsored ADRs on the US OTC market under the ticker MPJPY. The Level I program, with Deutsche Bank Trust Company Americas as depositary and a 1:1 ADS-to-share structure, replaces prior unsponsored trading under MTPLF without changing total shares. The company says this setup aims to cut transaction costs, standardise US dollar settlement and broaden access for US investors seeking Bitcoin treasury exposure.

On 19 Dec 2025, Intercontinental Exchange, owner of the New York Stock Exchange, was reported to be in talks to acquire a stake in crypto payments firm MoonPay at a valuation near $5 billion. This prospective deal would follow ICE's earlier backing of Bakkt and a $2 billion investment in Polymarket, expanding its reach from trading venues into consumer and institutional payment flows. MoonPay, last valued at $3.4 billion in a 2021 Series A, has also secured a limited purpose trust charter in New York, giving institutions a regulated option for crypto custody and OTC trading.

On 18 Dec 2025, Itaú Asset Management, the investment arm of Brazil's largest private bank, outlined guidance for a 1% to 3% Bitcoin allocation in diversified client portfolios beginning in 2026. The firm frames Bitcoin as a separate risk bucket aimed at diversification, partial protection against Brazilian real depreciation, and exposure to potential long-term price appreciation.

On 17 December 2025, the SEC's Division of Trading and Markets issued staff guidance explaining how broker-dealers can treat crypto asset securities as being in their physical possession when they hold and control the associated private keys. The statement details operational conditions for crypto custody under Rule 15c3-3, distinguishes "physical possession" from "control," and updates prior 2019 guidance on non-custodial models.