Crypto News Round-Up — December 2025

Over the last day, the cryptocurrency world saw a mix of major regulatory shifts, market expansions and security alerts. U.S. regulators have continued to integrate digital assets into the mainstream financial system, even as Asia experiences new market entries. At the same time, incidents like a recent exchange hack underline the persistent risks. Below we recap the most important stories (sources: Reuters, Axios, TechRadar).

• CFTC to list spot crypto on futures exchanges
• Italy launches crypto safeguards review
• U.S. OCC allows banks to facilitate crypto trades
• OCC issues trust charters to crypto firms
• Robinhood expands into Indonesia’s crypto market
• Bank of America broadens crypto access for clients
• Upbit exchange reports major asset theft

CFTC to list spot crypto on futures exchanges

The U.S. Commodity Futures Trading Commission (CFTC) announced on Dec 4, 2025 that spot cryptocurrency contracts will be allowed to trade on CFTC-registered futures exchanges (Reuters). This is the first time spot crypto assets can be traded on a regulated U.S. exchange, part of the current administration’s push to integrate digital assets into mainstream markets. The CFTC emphasized that supporting trading in regulated U.S. markets is crucial, especially given problems that have arisen with offshore platforms (www.reuters.com).

Under the new guidance, exchanges can list contracts that directly reference the price of cryptocurrencies (rather than only derivatives). This move follows earlier initiatives to incorporate tokenized assets (such as stablecoins) into derivatives markets. Overall, the development reflects a significant policy shift toward treating crypto more like traditional financial products (Treasury Secretary and lawmakers have backed related legislation). The announcement noted that these changes align with broader bills like the GENIUS Act and CLARITY Act aimed at tailored crypto regulation (www.reuters.com).

Why it matters:

• It brings regulated spot crypto trading to established futures exchanges, increasing investor access and oversight.
• By using existing trading platforms, it may reduce reliance on unregulated offshore venues.
• Signals a pro-crypto regulatory stance, likely encouraging further institutional participation.

Italy launches crypto safeguards review

Italy’s Economy Ministry announced a comprehensive review of cryptocurrency investment safeguards (Reuters). A committee including officials from the Bank of Italy, financial markets regulator Consob and other agencies will assess whether current rules adequately protect investors, especially retail participants. The review comes amid rising concerns about crypto risks and the need to ensure financial stability as digital assets become more integrated in the economy (www.reuters.com).

Ministerial officials emphasized that Italy’s financial environment remains favorable but requires caution given global uncertainties. The move is intended to coordinate Italy’s fragmented approach with broader EU regulations. For example, the committee will consider how the upcoming EU Markets in Crypto-Assets (MiCA) framework can be implemented alongside national protections. Italy’s initiative reflects cautious regulation: it neither bans crypto nor fully deregulates it, but seeks to balance innovation with investor safety (www.reuters.com).

Why it matters:

• Shows European authorities weighting investor protection heavily amid booming crypto adoption.
• May lead to stricter guidelines or new controls in Italy, influencing other EU countries’ policies.
• Highlights that even pro-crypto jurisdictions are scrutinizing risks to financial stability.

U.S. OCC allows banks to facilitate crypto trades

The U.S. Office of the Comptroller of the Currency (OCC) announced on Dec 9 that banks may serve as intermediaries in cryptocurrency transactions (Reuters). Under the new guidance, banks can engage in “riskless principal” transactions: they simultaneously buy and sell crypto assets on behalf of customers without taking custody of the coins themselves (www.reuters.com). This change is part of the current administration’s deregulatory push, rolling back earlier limitations set by the prior government and reflecting a move to align traditional banking services with the crypto market.

The OCC clarified that banks should not take on the crypto assets as part of their balance sheets except in limited circumstances, which is meant to control risk. However, the agency did note that allowing banks to facilitate trades provides a safer channel for crypto transactions compared to unregulated platforms. Supporters say this integration reduces reliance on third-party exchanges, though some critics warn it could expose the traditional banking system to volatility from the unregulated crypto market.

Why it matters:

• Enables established banks to handle digital asset trades, potentially boosting market liquidity and oversight.
• Removes one regulatory barrier to mainstream crypto adoption, reinforcing confidence in the system.
• May increase systemic risk discussions, since linking banks to crypto trading brings new complexities.

OCC issues trust charters to crypto firms

The OCC has also conditionally approved national trust bank charters for five cryptocurrency companies (Axios). The new charters allow these firms to operate federally chartered trust banks, but with restrictions: for example, they cannot accept customer deposits, offer savings accounts or are covered by FDIC insurance (www.axios.com). In practice, this means the crypto firms can handle fiduciary and certain custody functions while accessing the banking system, with less regulation than a typical full-service bank.

Among reactions, Ripple CEO Brad Garlinghouse publicly noted that the charters provide crypto companies with an “easier entry into the banking system with less regulation” (www.axios.com). The OCC’s move follows a trend of granting specialized charters (crypto-focused, payments, PDEs) that recognize the unique business models of digital-asset firms. Although these trust banks cannot take ordinary deposits, their existence signals growing acceptance: crypto companies can use the U.S. banking infrastructure more directly, potentially lowering costs for customers.

Why it matters:

• Represents a step toward formal banking status for crypto enterprises, bridging the industry with traditional finance.
• Chartered crypto trust banks remain limited (no deposits), so full banking services are still off-limits.
• Critics say it may create regulatory gaps, but supporters argue it underlines a clear regulatory path for digital-asset firms.

Robinhood expands into Indonesia’s crypto market

Robinhood Markets announced it will enter Indonesia through the acquisition of local brokerage Buana Capital Sekuritas and licensed crypto trader Pedagang Aset Kripto (Reuters). Indonesia is one of the largest and fastest-growing markets for both stock and crypto trading, with tens of millions of users. By buying established firms with existing licenses, Robinhood aims to comply with Indonesian regulations while quickly tapping into Southeast Asia’s youth-driven crypto boom (www.reuters.com).

The deal (expected to close in early 2026) will let Robinhood bypass delays in obtaining a new license from scratch. Indonesian regulators have been supportive of digital assets in principle, while imposing safeguards, making the market both promising and complex. Robinhood’s expansion reflects a broader strategy to grow internationally after strong domestic performance in 2025. It follows other U.S. firms showing interest in Asia, where regulatory clarity and a tech-savvy population provide fertile ground for crypto and fintech services.

Why it matters:

• Opens one of the world’s biggest emerging markets to a popular crypto-friendly platform, potentially boosting local trading volumes.
• Highlights how regulatory frameworks (Indonesia’s clear crypto rules) can attract foreign crypto businesses.
• Signals increasing globalization of crypto services – what happens in Asia will increasingly influence crypto’s future.

Bank of America broadens crypto access for clients

Bank of America said on Dec 4 that its wealth management divisions will be allowed to recommend crypto exchange-traded products (ETPs) to clients (Reuters). Starting January 5, 2026, advisors at Merrill Lynch, BofA Private Bank and Merrill Edge may suggest allocations of 1–4% to Bitcoin and other crypto ETPs for eligible clients. Previously only high-net-worth clients had such access. The bank cited growing investor interest in innovation and noted that the current U.S. administration has eased crypto regulations, making it safer to offer these products (www.reuters.com).

This expansion is a major acceptance gesture: BofA is one of the largest U.S. banks, and allowing broad client advice on crypto reflects confidence in these assets. The bank noted that any suggested allocations remain small (usually 1–4%), emphasizing that crypto exposure should be treated as a high-risk, high-volatility slice of a portfolio. Observers say this move could channel significant new capital into crypto markets, especially if other large institutions follow suit under lighter regulation.

Why it matters:

• Marks increased mainstream integration of crypto: wealth advisors can now formally include crypto strategies for many clients.
• Could drive billions into crypto through AUM at large banks, dispelling some stigma around digital assets.
• Reflects confidence boosted by regulatory easing, though banks still counsel small allocations due to volatility.

Upbit exchange reports major asset theft

South Korea’s largest cryptocurrency exchange, Upbit, confirmed a security breach on Nov 27 where hackers stole roughly $30 million worth of digital assets (TechRadar). The breach involved unauthorized transfers of mainly Solana-based tokens (about 44.5 billion won) from one of Upbit’s hot wallets. Upbit quickly froze the affected wallet and is coordinating with law enforcement to trace the funds. No customer assets held offline were reported lost.

This incident underscores ongoing security risks in crypto. While Upbit has measures in place, attackers continue to target exchanges. The company said it will cover customer losses from its reserves. Experts note that such hacks may spur exchanges to adopt stricter security protocols and could prompt regulators to enforce new standards. For now, the event is a reminder that even well-known platforms are not immune to breaches.

Why it matters:

• Demonstrates that cryptocurrency exchanges remain vulnerable to hacks, posing a threat to investor funds.
• May accelerate industry initiatives for better security audits, insurance funds or regulatory oversight.
• Raises user awareness: customers might seek platforms with stronger protections, or keep assets off exchanges.

Note: Cryptocurrency markets can be highly volatile and speculative. The developments above are informational and not investment advice. Always do your own research and consider your risk tolerance before making any decisions in digital assets.

Bottom Line

Regulatory and business trends continue to pull crypto closer to mainstream finance – U.S. agencies are opening doors for banks and exchanges, and banks like BofA are expanding crypto offerings. However, Asia’s regulatory oversight and incidents like the Upbit hack remind investors of the downsides. The bottom line is that while adoption is growing and new opportunities are emerging, crypto remains a fast-evolving space with significant risks. Staying informed and cautious remains crucial in this dynamic market.