The European Union's DAC8 digital asset tax transparency regime will take effect on Jan. 1, 2026, extending the bloc's administrative cooperation framework to crypto assets and service providers, CoinDesk reported on Dec. 24. Crypto service providers including exchanges and brokers must collect detailed user and transaction data and report it to domestic tax authorities, which will share the information across EU member states. DAC8 grants local regulators cross-border enforcement powers to act against suspected tax evasion with assistance from counterparts in other EU countries, including authority to freeze or confiscate crypto assets linked to unpaid taxes even when located outside the user's jurisdiction.

Internet service providers in the Philippines have blocked access to Coinbase and Gemini following a National Telecommunications Commission order, Cointelegraph reports on Dec. 24. The order instructed ISPs to restrict access to 50 online trading platforms identified by Bangko Sentral ng Pilipinas as operating without authorization. Users across multiple domestic ISPs reported being unable to access the two global exchanges.

Hong Kong's Financial Services and the Treasury Bureau (FSTB) and Securities and Futures Commission (SFC) jointly released consultation conclusions on December 24 to advance a licensing framework for virtual asset trading and custody service providers. The initiative aims to strengthen oversight and support sustainable market development. The consultation also announced a one-month public consultation on service providers offering virtual asset management and advisory services, with the regime expected to align with traditional securities market regulation and define regulated activities under different virtual asset licensing frameworks.

TRM Labs said 2025 was "a watershed year for U.S. crypto policy," with stablecoins dominating regulatory agendas globally. On Dec. 24, TRM policy team members Ari Redbord and Angela Ang, working with EMEA compliance advisor Luke Dufour, reviewed Q4 2025 crypto policy across 30 jurisdictions and found over 70% advanced stablecoin regulation, crowdfundinsider reports. Around 80% of jurisdictions' financial institutions announced new digital asset initiatives, aided by clearer rules, while Virtual Asset Service Providers—the most regulated segment—showed significantly lower illicit activity rates than the broader ecosystem. TRM said Q4 underscored policy momentum "no longer just bills moving through Congress," as regulators increasingly rely on guidance, supervision, and enforcement.

The Bank of Russia has proposed a framework that would allow investors to purchase Bitcoin and other cryptocurrencies under strict conditions, with a focus on regulating access for non-qualified investors, CoinGape reported. The proposal follows the central bank’s previously restrictive position on cryptocurrency trading in the country, according to the report.

The U.S. Securities and Exchange Commission has charged the operators of an alleged $14 million crypto investment scheme that targeted social media users, according to a report by The Block. The SEC alleges the defendants promoted fraudulent crypto investment opportunities, raising millions of dollars from investors.

US Treasury Secretary Scott Bessent said on Dec. 23 he supports reconsidering the Federal Reserve's 2% inflation target, BlockBeats reports. Bessent said future discussions could focus on adopting a target range, such as 1.5%-2.5% or 1%-3%.

Odds of a 25 basis point Fed rate cut in January fell to 13.3% after U.S. data released on Dec. 23, with hold probability at 86.7%, CME FedWatch data show. The initial estimate for Q3 real GDP annualized quarter-over-quarter stood at 4.3%, the strongest since Q4 2023. For March, CME data show 54.4% odds of a hold, 40.7% for a cumulative 25 bps cut, and 4.9% for 50 bps.