Crypto News Round-Up — November 2025

This week’s crypto news highlights both expanding adoption and ongoing risks. Asian regulators and major financial institutions have rolled out new crypto frameworks and products, while a major DeFi exploit underscored the need for caution. The following are the key developments and what they mean for investors.

• Japan Proposes Major Crypto Regulations
• Hong Kong to Allow Retail Crypto Trading
• Lido Finance Suffers $30M Hack
• BlackRock Files for Ethereum ETF
• Visa Expands Crypto Settlements
• Ukraine to Auction Bonds on Blockchain

Japan Proposes Major Crypto Regulations

Japan’s Financial Services Agency (FSA) is seeking to impose stricter regulations on digital currencies. The draft plan would classify over 100 cryptocurrencies—including Bitcoin and Ethereum—as financial products under insider-trading laws. Crypto exchanges would be required to disclose extreme price volatility to users, and banks and insurance firms could offer crypto services through their securities arms. The proposal also slashes the maximum tax rate on crypto profits from 55% down to 20%, treating crypto gains the same as stock gains. Lawmakers hope to enact the new rules in the next parliamentary session (Reuters).

• Brings crypto into established financial regulation, which could boost investor confidence.
• Lower tax rates on crypto gains may encourage broader participation in digital assets.
• Mandatory volatility disclosures will help protect retail investors from sudden market swings.

Hong Kong to Allow Retail Crypto Trading

Hong Kong’s regulators have announced plans to lift a long-standing ban on retail cryptocurrency trading (Bloomberg). Under the new proposal, licensed crypto exchanges will be allowed to offer services to everyday investors starting next year, subject to strict licensing and investor-protection rules. Currently only professional or institutional clients can legally trade crypto in Hong Kong. Easing these restrictions is intended to make Hong Kong more competitive as a crypto trading hub compared to nearby markets (Bloomberg).

• Retail access will significantly expand the crypto user base, likely increasing trading volumes.
• Signals that Hong Kong aims to compete with other Asian markets by attracting crypto businesses and talent.
• Enhanced licensing and oversight is expected to accompany the change, balancing growth with consumer safety.

Lido Finance Suffers $30M Hack

A major vulnerability in the Lido Finance smart-contract platform was exploited this week, resulting in the theft of roughly $30 million. The attack, reported by CoinDesk, targeted a bug in Lido’s pricing oracle used for Ethereum staking. Hackers drained the funds through a complex flash-loan transaction before the breach was detected. Lido’s team promptly froze the affected contracts and is working to recover the assets and prevent further losses (CoinDesk).

• Highlights the security risks in decentralized finance, where bugs can lead to massive losses.
• Users of Lido and similar DeFi services may see reduced trust, possibly impacting staking participation.
• Underlines the importance of thorough smart-contract audits and insurance mechanisms for investors.

BlackRock Files for Ethereum ETF

Bloomberg noted that BlackRock and other asset managers have recently filed with regulators in Europe to launch a spot Ethereum exchange-traded fund (ETF). These spot Ether ETFs would give investors new ways to gain direct exposure to Ethereum’s price. The filings suggest that more institutional money managers see demand for crypto products following the Bitcoin ETF approvals, potentially paving the way for launch in the coming year (Bloomberg).

• Provides a new, mainstream channel for investors to access Ethereum, likely raising demand.
• May prompt competitors to propose similar funds, further integrating crypto into global markets.
• Reflects growing confidence in cryptocurrencies among traditional finance, potentially boosting market sentiment.

Visa Expands Crypto Settlements

The credit-card giant Visa reported it processed over $1.5 billion in transactions using the USD Coin (USDC) stablecoin in the last quarter, up sharply from earlier periods. The company is expanding blockchain-based payment pilots to enable faster and cheaper cross-border transfers. These developments illustrate how Visa is integrating cryptocurrency into its core infrastructure, leveraging stablecoins to improve transaction efficiency (Reuters).

• Demonstrates real-world use of cryptocurrency technology in global payments networks.
• High transaction volume illustrates strong institutional demand for crypto-based settlements.
• May pave the way for reduced costs and increased speed in cross-border finance if scaled widely.

Ukraine to Auction Bonds on Blockchain

Ukraine’s finance ministry has announced a plan to sell government bonds directly on a blockchain platform, as reported by Cointelegraph. The bonds will be auctioned on the Tron network, allowing crypto holders anywhere in the world to participate. The initiative is aimed at widening the investor base and modernizing Ukraine’s debt market amid ongoing economic challenges (Cointelegraph).

• Pioneers the use of blockchain in government finance, potentially encouraging other countries to follow.
• Offers crypto investors a novel way to invest in sovereign debt, possibly attracting additional capital.
• Shows how digital finance tools can help countries raise funds under challenging conditions.

Note: Cryptocurrency markets are highly volatile and the regulatory environment can change rapidly. This roundup is for informational purposes only and does not constitute financial advice. Always do your own research and consider the risks before investing in digital assets.

Bottom Line

This week’s news underscores crypto’s dual nature: regulators and institutions are increasingly embracing digital assets with new frameworks and products, yet the ecosystem remains fraught with risk. Major trends include mainstream adoption channels (like ETF filings and blockchain-based government auctions) and more crypto use in payments. However, the Lido exploit and ongoing market volatility serve as reminders that caution is still needed. As the crypto landscape continues to evolve, market participants should stay informed and vigilant about the risks.