Arizona State Senator Wendy Rogers prefiled SB 1044, SB 1045, and SCR 1003 with the Arizona Senate late last week, aiming to exempt virtual currency from state and property taxes and to bar local taxes on blockchain node operators. The node-focused bill could be enacted by the legislature, while broader exemptions would require voter approval in November 2026.

On December 23, 2025, the official Ethereum X account published a guest thread by author and investor William Mougayar asserting that Ethereum operates as a non‑rivalrous, non‑excludable public good. He proposed a three‑part valuation approach—captured value, flow value, and a compounding "trust surplus"—to assess Ethereum’s role beyond fees, throughput, and short‑term metrics.

Crypto.com is creating an in-house market-making team for its prediction markets, saying the structure follows federal rules and is meant to deepen liquidity. The exchange, which is recruiting a quant trader for contracts tied to sporting events, says the desk is disclosed to the US Commodity Futures Trading Commission and treated like external market makers. A spokesperson said no market maker receives a "first look" at order flow or proprietary data and that the firm does not depend on proprietary trading as a revenue source.

In 2025, according to The Block's 2026 Digital Assets Outlook, activity on Ethereum Layer 2 networks became heavily concentrated on a few ecosystems, with Coinbase's Base capturing a leading share of TVL, users and onchain volume. While enterprise and consumer platforms increasingly launched rollups built on stacks such as OP Stack, most new L2s saw usage fade after incentive and airdrop cycles, even as data availability, security models and Bitcoin L2 experiments diverged in preparation for a more competitive 2026 landscape.

By late 2025, major financial institutions were using Ethereum to support tokenized dollars, T+0 settlement and onchain fund administration, often without naming the network. The period included quarterly throughput above $5 trillion, a stablecoin market cap at $300 billion after July 2025 legislation, and JPMorgan’s MONY money market fund going live on Ethereum in December 2025.

On December 23, 2025, Bitget Wallet announced a full integration with Hyperliquid to broaden its onchain perpetuals offering. The company said users can access fees between 0.06% and 0.09%, more than 300 trading pairs plus equity-linked contracts, and up to 150x leverage within a self-custodial interface.

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 December 23, 2025, Co‑founder and CEO Adam Liposky outlined Canopy's "layerless" approach for launching sovereign Layer 1 networks, with mainnet targeted for early 2026. He cited testnet results of 10,000 transactions per second with instant finality, a 20‑validator foundation, and a 504 million CNPY supply with block rewards split 85%/10%/5% across validators, delegators, and the DAO.