Crypto News Round-Up — December 2025

The cryptocurrency world saw several major updates in the last 24 hours, from regulatory changes abroad to big corporate moves and security incidents. Key stories include new laws and corporate acquisitions in Asia, significant hacks in the crypto space, and steps toward central bank digital currencies. This round-up highlights each story and why it matters for investors and observers.

• Turkmenistan Enacts Cryptocurrency Law (Reuters)
• South Korea’s Naver to Acquire Crypto Exchange Upbit (Reuters)
• Hackers Steal $30M from Upbit Crypto Exchange (Tom’s Hardware)
• Hackers Net $262M in Account Takeover Scams, FBI Says (TechRadar)
• ECB Advances Digital Euro Pilot Program (Bloomberg)
• Global Exchanges Urge SEC on Crypto Securities (Reuters)

Turkmenistan Enacts Cryptocurrency Law (Reuters)

Turkmenistan’s president signed a law legalizing cryptocurrency mining and trading, marking a sharp reversal from the country’s previous blanket ban on crypto activities. The legislation, which takes effect on January 1, 2026, requires crypto miners and exchanges to obtain government licenses and comply with new regulations. Officials say the goal is to formalize the underground crypto market and bring digital assets under state oversight (Reuters).

Under the new rules, miners and trading platforms must register with regulators and operate under official guidelines. This change is seen as an attempt to control speculative activity and generate tax revenue from crypto operations in Turkmenistan.

Why it matters:

• This is one of the first major crypto legalization moves in Central Asia, signaling a shift toward formal oversight in a region that was largely closed off to crypto.
• Requiring licenses and regulation may make crypto businesses more transparent, but also subjects them to strict government control.
• The move could encourage other countries with tight crypto bans to rethink regulations, affecting global crypto adoption patterns.

South Korea’s Naver to Acquire Crypto Exchange Upbit (Reuters)

South Korean tech giant Naver is set to buy Dunamu, the operator of the country’s largest cryptocurrency exchange Upbit, in a deal valued at 15.13 trillion won (about $10.3 billion) (Reuters). The acquisition will be conducted through Naver Financial, Naver’s fintech subsidiary, and is one of the largest fintech transactions in Asia this year. The deal is expected to close next year, pending regulatory approvals.

Upbit has a dominant market share in South Korean crypto trading, and the acquisition will bring the exchange under the umbrella of Naver’s broader internet services. Observers note that Naver’s entry into the crypto space through this deal could drive further innovation and competition in the Asian crypto market.

Why it matters:

• A major technology company is integrating crypto services, which can lend legitimacy and stability to Upbit’s operations.
• The deal highlights ongoing consolidation in the crypto exchange sector and underscores the importance of crypto trading in Asia’s financial landscape.
• With Naver’s backing, Upbit may expand services and security measures, potentially increasing user trust and trading volume on the platform.

Hackers Steal $30M from Upbit Crypto Exchange (Tom’s Hardware)

Crypto exchange Upbit announced that cybercriminals stole roughly $30 million worth of digital assets from its hot wallets (on-chain wallets connected to the internet). The breach was discovered on November 27, when Upbit found an unauthorized transfer of Solana tokens. The exchange immediately froze withdrawals, notified law enforcement, and said it will cover all customer losses from its reserves (Tom’s Hardware).

This is one of the largest security incidents at a crypto exchange this year. Although Upbit has promised to reimburse affected users, the hack underscores the continuing challenge of securing digital assets against sophisticated hackers.

Why it matters:

• The incident shows that even top exchanges with advanced security can be vulnerable, reminding users to be cautious about where they hold crypto assets.
• Losses of this scale may prompt regulators to impose stricter security and insurance requirements on crypto exchanges.
• Rebuilding trust after a hack often takes time; Upbit’s response and compensation plan will be closely watched by the industry.

Hackers Net $262M in Account Takeover Scams, FBI Says (TechRadar)

The U.S. Federal Bureau of Investigation reported that cybercriminals stole over $262 million through account takeover schemes so far in 2025 (TechRadar). In these scams, hackers gain unauthorized access to victims’ accounts by stealing credentials or exploiting security weaknesses. They then transfer funds — often converting those funds into cryptocurrency to obscure the trail — before the victim notices the breach.

Financial institutions and crypto firms warn that such scams are on the rise, as hackers target not just bank and email accounts but also cryptocurrency exchange accounts. The FBI’s warning serves as a reminder that personal and corporate accounts can be entry points for crypto-related theft.

Why it matters:

• The large amount stolen in these scams highlights how cryptocurrency is used to launder illicit proceeds from account hacks.
• Investors and users must remain vigilant, using strong passwords and two-factor authentication to protect their accounts.
• Regulators and exchanges may respond by requiring even stronger identity verification and anti-fraud measures.

ECB Advances Digital Euro Pilot Program (Bloomberg)

Bloomberg reports that the European Central Bank (ECB) is accelerating its digital euro pilot project, moving into more advanced testing phases. The program aims to make a digital euro available for retail transactions, complementing cash and bank deposits. The ECB has been studying the technical and legal aspects of a digital currency, and this latest push suggests a potential rollout in coming years (Bloomberg).

If launched, the digital euro would be a central bank digital currency (CBDC) accessible to the general public, stored in digital wallets. The ECB’s efforts include ensuring privacy protections and integration with existing payment systems, to make digital euro usage smooth for consumers and businesses.

Why it matters:

• A digital euro could accelerate mainstream adoption of cryptocurrency technology, as citizens and businesses gain hands-on experience with a state-backed digital asset.
• It may reduce the attractiveness of private stablecoins or unregulated crypto for everyday use, since citizens could use a government-backed digital currency.
• The pace of this program sends a signal to other central banks; global CBDC development may speed up if the ECB’s project proves successful.

Global Exchanges Urge SEC on Crypto Securities (Reuters)

A consortium of major stock exchanges, including Nasdaq and Deutsche Börse, has urged the U.S. Securities and Exchange Commission not to grant regulatory exemptions to cryptocurrency companies selling tokenized securities (Reuters). They warned that allowing crypto firms to tokenize assets like stocks without full SEC oversight could bypass investor protections. The exchanges’ statement came as some crypto startups seek to trade tokenized versions of equities without following standard market regulations.

The message is a reminder that traditional financial institutions are closely watching how crypto innovations fit into existing rules. The exchanges emphasized that tokenization should not be a backdoor around securities laws.

Why it matters:

• Regulators may take caution from this stance, suggesting that crypto assets presented as securities will need the same scrutiny as traditional ones.
• Crypto firms seeking to issue tokenized stocks or funds may face higher compliance costs or delays if regulators uphold strict rules.
• The exchange stance highlights tension between decentralized crypto markets and established financial systems, influencing how regulation is shaped in the coming months.

Market Caution: Cryptocurrency markets remain highly volatile and unpredictable. This roundup is informational and should not be taken as investment advice. Always do your own research (DYOR) and consider the risks before investing in digital assets.

Bottom Line

In the past day’s news, regulators and corporations have both pushed cryptocurrency further into the mainstream – with Turkmenistan formalizing crypto operations and a major tech firm buying a top exchange. At the same time, security breaches underscore ongoing risks, and central banks are building digital currencies of their own. Altogether, these developments highlight that while crypto continues to grow and attract institutional interest, market risks and regulation remain key factors for investors to watch.