South Korea’s government has reportedly missed the deadline to submit its highly anticipated stablecoin legislation, risking a delay of the second phase of the country’s regulatory efforts to align with global standards and foster innovation.

FSC Misses Key Deadline Amid BOK Disagreement

On Wednesday, local media outlets affirmed that the South Korean government failed to submit the long-awaited bill for the Second Phase of the Virtual Asset User Protection Act, which is expected to address the issuance and distribution of won-denominated stablecoins.

Chosun Biz reported that the Financial Services Commission (FSC) did not meet the National Assembly’s submission deadline for the government’s legislation. On December 1, authorities set December 10 as the deadline to submit the bill to the National Policy Committee.

According to political circles cited by the report, the government bill was delayed because the FSC and the Bank of Korea (BOK) failed to resolve their differences over the issuance of won-pegged stablecoins.

As reported by Bitcoinist, local outlets stated in late November that South Korea’s stablecoin legislation risked being delayed due to a disagreement between financial authorities and the central bank over the extent of banks’ role.

The BOK and FSC seemingly agreed that the financial institutions must be involved in the issuance of won-pegged tokens. However, the central bank has been pushing for a consortium of banks owning at least 51% of any stablecoin issuer seeking regulatory approval in the country.

Meanwhile, the FSC was willing to involve diverse players in the process, expressing concern that giving a majority stake to banks could reduce participation from tech firms and limit the market’s innovation.

The November report noted that the regulatory standoff appeared to leave the market in limbo, with some tech companies actively preparing to get approval and others taking a cautious approach due to the unclear regulatory direction.

Stablecoin Legislation Risks ‘Prolonged Deliberation Process’

Chosun Biz noted that the Democratic Party of Korea (DPK) initially intended to advance the second phase of its virtual asset bill by reviewing the government bill. Nonetheless, if the government draft continues to be delayed, the bills previously introduced by lawmakers could be reviewed first.

Since June, multiple bills related to the issuance and distribution of won-pegged stablecoins have been introduced in the National Assembly. Min Byung-deok, a member of the National Assembly’s Government Committee, introduced the “Digital Assets Basic Act, proposing enabling the issuance of won-pegged stablecoins and establishing a Digital Asset Committee under the direct authority of the president.

In July, South Korea’s ruling and opposition parties proposed rival bills to establish the highly anticipated regulatory framework. Notably, Ahn Do-gil, a member of the Planning and Finance Committee from the Democratic Party, introduced the “Act on the Issuance and Distribution of Value-Stable Digital Assets.”

Similarly, Kim Eun-hye, a member of the Land, Infrastructure, and Transport Committee from the People Power Party (PPP), proposed the “Act on Payment Innovation Using Value-Fixed Digital Assets.”

The two bills shared similarities, like the assignment of stablecoin oversight to the FSC. However, they differed over the issue of interest payments, with the PPP’s bill allowing interest payments and the DPK’s bill completely banning them to prevent market disruption.

It’s worth noting that the FSC chairman, Lee Eun-won, recently affirmed that the regulatory agency will “fundamentally prohibit the payment of interest on stablecoins as a principle,” adopting the same principle as the US framework, the GENIUS Act, which prohibits interest payments on the holding or use of payment-purpose stablecoins.

Following the Wednesday delay, a member of the National Policy Committee from the Democratic Party affirmed that, “for now, it looks difficult to narrow the differences between the FSC and the BOK.”

“If the government bill continues not to be submitted, the deliberation process could be prolonged, so we should at least review the bills introduced by lawmakers first,” they concluded.

Swapper Finance has launched Direct Deposits in collaboration with Chainlink and Mastercard, aiming to bring global payments directly into the on-chain economy to more than 3.5 billion users worldwide.

Swapper Finance Launches Direct Deposits With Chainlink, Mastercard

On Tuesday, Swapper Finance, a next-generation payments infrastructure layer that connects global users to on-chain applications, announced the launch of Direct Deposits in collaboration with Chainlink, Mastercard, and multiple key partners.

Direct Deposits, which are live now, are set to bring “the global payments world directly into the on-chain economy through a unified, secure, and compliant flow,” powered by Chainlink Runtime Environment (CRE) and Mastercard’s recognized global network.

According to the announcement, users will be able to deposit into Decentralized Finance (DeFi) protocols using payment cards, crypto transfers, or Web3 wallets inside a single, end-to-end on-chain workflow for the first time.

Swapper’s Direct Deposits aim to unlock instant access to DeFi for billions of people worldwide by eliminating traditional bottlenecks, exchanges, and multi-step onboarding. This has historically required stitching together isolated systems, including Know Your Client (KYC) requirements, compliance, card payments, fiat conversion, settlement, and liquidity routing, which has created friction, high drop-off rates, and inconsistent security across the process.

Direct Deposits are set to replace this old-fashioned flow through one “unified, verifiable, on-chain orchestration layer,” with every component of the process executed inside a secure on-chain environment.

Roman Tirone, Senior Manager, Chainlink Build at Chainlink Labs, affirmed that “by unifying identity, compliance, token swaps, settlement, and more in a single orchestration layer, CRE is enabling the onboarding of billions of cardholders into the onchain economy.”

This creates a simple and familiar checkout experience that quickly moves a user from traditional finance to on-chain, supported by institutional-grade security and global reach. Meanwhile, the launch represents another step in Mastercard’s efforts to integrate traditional payment infrastructure with blockchain-based applications, helping it expand its digital asset strategy.

‘The Onboarding Layer For Web3’

Swapper’s launch will see multiple leading Web3 platforms integrate the Direct Deposits technology directly into their user flows, including Pi Squared, Stake.link, KyberSwap, AITECH, NPC, Teneo, BigWater, Rhuna, TrebleSwap, MyStandard, Landwolf, Dolomite, HyperSwap, Turbo, APU, and Radiant Capital, among others.

This signals strong demand for a unified card-to-on-chain standard, the announcement added, which suggests that Direct Deposits “are quickly becoming a foundational component for user acquisition across Web3.”

The launch also represents “deep technical collaboration across Mastercard, Chainlink, Swapper Finance, and key partners” to bring together payment authorization, compliance, execution, and liquidity routing in a single verifiable workflow powered by CRE and Swapper Finance.

Arthur, CTO of Swapper Finance, affirmed that “this is the onboarding layer we always believed the industry needed,” adding that Direct Deposits represent a “turning point” for how people enter the space as “the first truly unified onboarding layer for Web3.”

“Our goal has always been to remove the barriers that keep billions of people from accessing DeFi, and with this launch, that future becomes real,” Arthur stated, concluding that “Direct Deposits represent a turning point for how people enter Web3. For the first time, the process feels intuitive rather than intimidating. We expect this launch to dramatically expand the number of users who can participate in onchain markets.”

Ark Invest’s CEO and CIO, Cathie Wood, joined Fox Business’s “Morning With Maria” to discuss her investment strategy as she believes the US is entering a “historic productivity surge,” and why she is bullish on Bitcoin (BTC) for 2026.

The Four-Year Cycle Will Be ‘Disrupted’

On Tuesday, Ark Invest’s CEO, Cathie Wood, shared her perspective on the recent Bitcoin performance, which has retraced over 10% in the past month and struggled to reclaim crucial levels over the past few weeks.

To Wood, Bitcoin has been behaving like a risk-on asset and is currently “climbing another wall of worry” that has made investors wary of the leading crypto asset’s upcoming performance.

As she explained, there is a fear of the four-year cycle, which suggests that 2026 will be a corrective year for Bitcoin. Historically, BTC has seen significant price pullbacks during bear markets, with retraces of up to 75% to 90% in previous cycles.

The aggressive Q4 2025 correction has shattered most investors’ expectations of an end-of-year bull run, raising concerns that the crypto market has already entered the bearish phase of the cycle after the more than 30% drop from the October highs.

However, Ark Invest’s CEO considers that “the four-year cycle is going to be disrupted” as volatility has significantly diminished over the past few years, and large-scale investors turn to the rapidly growing industry.

“We think that the move by institutions into this new asset class is going to prevent much more of a decline,” Wood affirmed, noting, “we might have seen it a couple of weeks ago,” when BTC managed to hold the $80,000 barrier during the late November correction.

She previously asserted that growing institutional adoption will be a powerful driver for long-term value for the cryptocurrency, adding that institutions “really have just dipped their toes into this space. We have just started, so we have a long way to go.”

Bitcoin To Outperform Gold Soon?

During the interview, Wood also reaffirmed her previous forecast that the flagship crypto will outperform gold next year, despite its choppy performance during the last quarter of 2025.

She highlighted that “gold is more of a risk-off asset,” and its 60% year-to-date (YTD) rise is “proof” that Bitcoin is climbing a wall of worry as investors “are using gold as a hedge against geopolitical risks.”

Nonetheless, Ark Invest’s CEO pointed out that between the early 80s and the late 90s, gold peaked and “went down as we were in the golden age of innovation, ending with the internet.”

Now, she believes that the same could happen soon, as what she calls “the AI age” starts and the market potentially recovers. Meanwhile, she forecasted that Bitcoin would remain risk-on and outperform gold in 2026.

“I really believe we are moving from a rolling recession where we’ve been for the last three years, into a rolling recovery, which we think we are entering now. Then, a productivity-driven boom the likes of which we have never seen before,” Wood concluded.

 As of this writing, Bitcoin is trading at $94,011, a 3.75% increase in the daily timeframe.

After weeks of speculation, BlackRock, the world’s largest asset manager, has officially filed for a staked Ethereum (ETH) Exchange-Traded Fund (ETF) with the US Securities and Exchange Commission (SEC). Amid the bullish news, the King of Altcoins’ price is attempting to break out of a two-month resistance, which could set the stage for a retest of higher levels.

BlackRock Files For Staked Ethereum ETF

BlackRock has submitted an S-1 form with the US SEC to get approval for its iShares Ethereum Staking Trust (ETHB), which “seeks to reflect generally the performance of the price of ether and rewards from staking a portion of the Trust’s ether, to the extent the Sponsor in its sole discretion determines that the Trust may do so without incurring undue legal or regulatory risk.”

Filed on December 5, BlackRock’s registration statement explains that, if approved, the proposed fund aims to stake 70% to 90% of its Ethereum holdings, distributing staking rewards to stakeholders at least quarterly.

Coinbase Custody Trust will serve as the custodian for the Trust’s ETH holdings, the filing noted, while Anchorage Digital Bank will be an available alternative custodian for the Trust’s ether holdings. Meanwhile, the Bank of New York Mellon will serve as the custodian for the Trust’s cash holdings and the administrator of the Trust.

Notably, BlackRock’s ETHB will operate separately from its spot ETH fund, the iShares Ethereum Trust ETF (ETHA), which is the largest in its category with $11 billion in assets under management (AUM).

It’s worth noting that the crypto community began speculating about BlackRock’s upcoming staked ETH fund after the leading asset manager registered the name in Delaware last month.

In a November report, 10x Research argued that the potential introduction of a staked Ethereum ETF by BlackRock would bring “increased scrutiny” to “the economics of DATs” as retail investors would reallocate to a low-cost source of yield.

The report added that many investors are unaware that Digital Asset Treasury (DATs)’s embedded costs “far exceed” the management fee charged by asset managers like BlackRock on its Bitcoin (BTC) and ETH ETFs.

ETH Nears Key Downtrend Line

Ethereum’s price started the week attempting to reclaim a crucial area after managing to hold the $3,000 level as support despite the volatility during the weekend. The cryptocurrency surged nearly 3% in the daily timeframe, hitting $3,180 before retracing on Monday.

Amid this performance, analyst Ali Martinez suggested that “it’s time to pay attention to ETH,” noting that it nears a key level that could push the price to higher zones. Per the chart, Ethereum briefly broke out of its two-month downtrend line, which has served as resistance since early October.

Over this period, the King of Altcoins has attempted to break out of this level twice, but has ultimately been rejected during each attempt. On Monday morning, ETH briefly broke above the trendline before being rejected a third time.

However, if Ethereum reclaims the $3,120-$3,130 levels and turns the downtrend into support, it could build the base for a retest of the $3,200-$3,300 horizontal levels, which marks the lower boundary of its Q3 and early Q4 price range.

Meanwhile, Rekt Capital asserted that Ethereum Dominance (ETHDOM) continues to move within its macro consolidation range, holding support at the 11.67% level. He previously affirmed that if “ETHDOM can maintain itself above 10.05% then it should be positioned for higher market dominance levels over time.”

The analyst added that although history suggests a potential 2.5% drop to the consolidation range lows, this dip would occur “in the context of a macro move to 18%-20%” in the future.

As of this writing, Ethereum is trading at $3,114, a 13.7% increase on the weekly timeframe.

The US Securities and Exchange Commission (SEC) concluded its Biden-era probe into DeFi platform Ondo Finance, and whether its tokenized products complied with federal securities laws, without any charges, following the Trump administration’s pro-industry approach and focus on tokenization.

Case Closes: SEC Ends Ondo Finance Probe

On Monday, Ondo Finance announced it had received formal notice that the US SEC’s two-year investigation into the platform, which started during the Biden administration, had concluded in late November with no charges.

The platform now joins the list of crypto companies that have seen their cases and probes dismissed or closed without any enforcement actions this year, including Gemini, Kraken, Ripple, Coinbase, and Uniswap Labs.

The SEC initiated the probe in 2024 to examine whether firms’ tokenization of Real-World Assets (RWA) complied with federal securities laws, the platform explained. Additionally, it sought to determine whether the ONDO token was a security.

“Ondo’s growth and leadership in the emerging tokenization category made us a focus, but not a justified target,” the announcement added. At the time, the US regulatory environment was characterized by a “regulation by enforcement” approach, which led to caution and confusion.

Nonetheless, they “remained steadfast in its conviction that regulated, transparent tokenization models like Ondo’s are not only compatible with investor-protection principles, but can strengthen them.”

To Ondo Finance, this marks a “meaningful milestone” for the broader tokenization industry, which will push innovation, compliance, security, and investor protection forward, as the sector gains momentum and becomes a priority on the federal agency’s agenda.

It’s worth noting that Ondo has solidified its position as a leader in the RWA sector with strategic partnerships, expansions, and the launch of its own Layer-1 blockchain, which aims to bridge the gap between traditional finance and decentralized finance.

As reported by Bitcoinist, the firm aims to advance its mission to “democratize” access to high-quality US financial assets and ensure tokenized assets move seamlessly across major blockchains.

A New Chapter For Tokenized Securities

In the Monday statement, the platform also highlighted that the SEC’s decision reflects a broader shift in US policy, with regulators reassessing the methods used during the Biden era for the crypto industry. Earlier this year, a White House report recognized the sector as foundational to the future of the global financial system and named Ondo Finance among the key players.

Notably, the regulatory agency has added tokenization to its formal agenda. In the SEC’s Investor Advisory Committee meeting last week, the regulatory agency affirmed it is evaluating tokenization to modernize the issuance, trading, and settlement of public equities.

In his remarks, SEC chairman Paul Atkins stated, “Distributed ledger technology and the tokenization of financial assets, including securities, have the potential to transform our capital markets. Our financial markets have long been the envy of the world, and to ensure that they remain so, U.S. firms and investors must have the opportunity to leverage this technology as they lead the future of global capital markets.”

Atkins added that the agency’s role is to enable market participants to operate and innovate under clear guardrails, ensuring that the US markets remain the most dynamic, transparent, and trusted in the world.

“The resolution of the SEC inquiry marks the end of one chapter for Ondo and the beginning of another. Put simply, the time is now for tokenized securities to become a core part of U.S. capital markets. The future of global finance, including U.S. capital markets, will be onchain and Ondo will help lead that transition,” the announcement concluded.

As stablecoins continue to gain worldwide momentum, the International Monetary Fund (IMF) has called for global cooperation to avert potential macro financial stability risks related to the rapidly growing sector and to turn the industry “into a force for good.”

Stablecoins To Foster Innovation, Financial Inclusion

On Thursday, the IMF released a 56-page report discussing the growing influence of stablecoins, their potential use cases in mainstream financial markets, and the risks associated with the sector’s varying oversight.

Amid the sector’s rapid growth, the organization highlighted that the two largest stablecoins, USDT and USDC, have tripled their market capitalization since 2023, reaching a combined $260 billion. Meanwhile, their trading volume has increased by around 90% to $23 trillion in 2024, with Asia surpassing North America in stablecoin activity volume.

The IMF noted two major potential benefits from stablecoins. First, they could enable faster and cheaper cross-border payments, especially for remittances, which can cost 20% of the amount being sent and face some delays.

However, “being a single source of information, blockchains can greatly simplify the processes linked with cross-border payments and reduce costs,” the Fund’s economists explained in a blog post.

Second, stablecoins could expand financial access, driving innovation by increasing competition with established payment service providers, therefore, making retail digital payments more accessible to underserved customers.

They could facilitate digital payments in areas where it is costly or not profitable for banks to serve customers. Many developing countries are already leapfrogging traditional banking with the expansion of mobile phones and different forms of digital and tokenized money.

Notably, competition with already established providers could lower costs and lead to enhanced product diversity, “leveraging synergies between digital payments and other digital services.”

IMF Warns Of Fragmented Oversight

Despite their potential benefits, stablecoins also carry significant risks, the IMF explained, including de-pegging and collapsing if the underlying assets lose value or if users lose confidence in the ability to cash out. Per the report, this could also trigger fire sales of the reserve assets and disrupt financial markets.

Stablecoins could also accelerate a “currency substitution” dynamic, where individuals and companies abandon their national currency in favor of a foreign one, like US dollars or euros, due to instability or high inflation.

The organization noted that the dynamic decreases a country’s central bank’s ability to control its monetary policy and serve as the lender of last resort, damaging the financial sovereignty of affected nations.

In addition, the potential to reduce cross-border frictions and make faster and cheaper transactions could be undermined by a lack of interoperability if various networks are unable to connect or are restricted by different regulations and other hurdles.

“Stablecoin regulation is in its infancy, so the ability to mitigate these risks remains uneven across countries,” the organization affirmed, noting that “the IMF and the Financial Stability Board have issued recommendations to safeguard against currency substitution, maintain capital flow controls, address fiscal risks, ensure clear legal treatment and robust regulation, implement financial integrity standards, and strengthen global cooperation.”

As reported by Bitcoinist, the FSB vowed in October to address the evolving threats from private finance and the growing use of stablecoins, promising to increase the global watchdog’s policy response and overhaul its surveillance system to make it more flexible and quicker.

Nonetheless, major jurisdictions have taken different stances in key areas, as the IMF detailed, which could result in the exploitation of gaps between jurisdictions and issuers to locate where oversight is weaker.

All this underscores the need for strong international cooperation to mitigate macrofinancial and spillover risks (…). Tokenization and stablecoins are here to stay. But their future adoption and the outlook for this technology are still mostly unknown.

The organization concluded that “improving the existing global financial infrastructure might be easier than replacing it. Achieving the best possible balance will require close cooperation among policymakers, regulators, and the private sector.”

Bitcoin (BTC) is retesting a crucial support area after its price slid 5% from the recent highs and fell below the $90,000 barrier. Some analysts have suggested that the cryptocurrency’s structure remains intact, but warned that it must bounce quickly or risk retesting the November lows.

Bitcoin Retests $88,000 After Rejection

On Friday, Bitcoin lost the recently reclaimed $90,000 level, falling to a key support area before stabilizing. The flagship crypto has been attempting to recover from the November market correction, which sent its price to a seven-month low of $80,600.

Since reaching its local lows two weeks ago, the cryptocurrency has traded within a macro re-accumulation range, between $82,000 and $93,500, attempting to break out of this zone on Wednesday, when it reached a multi-week high of $94,150.

However, as the first week of December approaches its end, BTC has lost the upper area of its local range again, falling below its monthly open and tapping the $88,000 support.

Amid the drop, Analyst Ted Pillows noted that BTC has been struggling to reclaim the $94,000 resistance, adding that price “wants to go lower here before another breakout attempt.”  Therefore, he suggested that a bounce back from the $88,000-$89,000 support zone is likely.

Altcoin Sherpa affirmed that the ongoing retest would confirm whether the recent bounce was “just lower highs and price is going lower or if we actually have any juice to bounce to like 100k or something.”

The analyst outlined two potential outcomes. In the first scenario, the flagship crypto would retrace to the $87,000-$89,000 area and bounce above the $93,000-$94,000 resistance levels.

In the second scenario, Bitcoin would continue to move sideways below the local resistance before eventually sliding to the November lows and potentially lower levels. Per the analysis, the leading cryptocurrency must bottom quickly, or it will risk the second outcome.

BTC Shows Shallowing Pullback Tendency

Analyst Rekt Capital also pointed out that Bitcoin continues to face rejection from the range high resistance. However, he considers that investors should not worry as long as the pullback isn’t as big as the previous ones.

If “the rejection is shallower than the previous two, then this resistance will continue to weaken until eventually breached,” he explained, adding that “as long as this weakening continues, BTC should be able to finally breach this resistance over time & try to challenge the multi-week Downtrend above.”

Earlier this week, the analyst affirmed that BTC’s consolidation structure will remain intact as long as Bitcoin closes the week above the range lows. He also noted that its Macro Downtrend, which “has been dictating resistance throughout this phase of the cycle,” remains the dominant structural barrier and the level to break.

As the price stabilized between the $88,500-$89,350 area, the analyst added that today’s retracement “continues to be a shallower pullback than the previous two,” which keeps the range “‘retrace shallowing’ tendency” intact.

He noted that Bitcoin could technically drop into the ascending two-week support trendline, or tap the $86,000 level and still perform a shallower correction than the recent 10% drop.

As of this writing, Bitcoin is trading at $89,400, a 2.9% decline in the daily timeframe.

European exchange WhiteBIT announced the inclusion of its native token in major digital asset benchmarks by leading global provider of financial market indices, S&P Dow Jones Indices, marking a significant step for the platform and the region’s crypto infrastructure sector.

WhiteBIT Included In Major Crypto Indices

On Thursday, top crypto exchange WhiteBIT announced that its token, WBT, has been added to the S&P Cryptocurrency Broad Digital Market (BDM) Index, curated by S&P Dow Jones Indices (DJI).

The S&P BDM Index is designed to track the performance of crypto assets that meet strict institutional criteria, including liquidity, market capitalization, governance, transparency, and risk controls, and are listed on recognized open digital exchanges.

This marks an important milestone for both WhiteBIT and the broader fintech landscape in Central and Eastern Europe, the exchange noted, as it reinforces “the platform’s growing role in the global crypto economy” and highlights the industry’s move toward regulated, infrastructure-level players.

In a statement, Volodymyr Nosov, CEO of WhiteBIT, affirmed that “being recognized by S&P DJI is more than an index inclusion — it signals that crypto infrastructure from our region has reached global institutional standards.”

The announcement also revealed that WBT was added to the other four S&P Dow Jones digital-asset indices, including the S&P Cryptocurrency Broad Digital Asset (BDA) Index, S&P Cryptocurrency Financials Index, S&P Cryptocurrency LargeCap Ex-MegaCap Index, and the S&P Cryptocurrency LargeCap Index.

Notably, index providers have been expanding coverage beyond protocol-layer tokens as the industry matures, acknowledging the systemic role of exchanges and financial infrastructure platforms, positioning these companies within the global map of institutional-grade digital asset providers.

The exchange underscored that the classifications require a remarkable record of liquidity stability, transparent price formation, and consistent market cap behavior. “This is a turning point not only for our company but also for the evolution of compliant crypto services worldwide,” Nosov continued.

WhiteBIT’s Expansion And WBT’s Momentum

The S&P index inclusions follow a strong market performance from WBT, which rallied around 50% over the last three months, despite recent market volatility that sent many leading tokens to multi-month lows in the past few weeks.

In mid-November, the altcoin reached an all-time high (ATH) of $62.96, fueled by last month’s positive developments. As reported by Bitcoinist, WhiteBIT unveiled its entry into the Argentine and Brazilian markets, building on its expansion to Australia, Croatia, Italy, and Kazakhstan.

The move is expected to integrate local fiat providers and add support for local currencies, aiming to further enhance accessibility and convenience for domestic users in the two largest countries in South America.

Moreover, the exchange signed a strategic cooperation agreement with Durrah AlFodah Holding, represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, to drive the Kingdom’s development in blockchain technology, digital finance, and data infrastructure.

Under the strategic agreement, WhiteBIT is set to provide technological expertise and infrastructure design. Meanwhile, Durrah AlFodah will facilitate the exchange’s market entry, regulatory engagement, and partnership development across Saudi Arabia.

Now, being part of S&P’s indices offers WBT a clear benchmark, the announcement added, facilitating its use in future financial products and long-term investment strategies.

This expanded representation marks an important shift for WBT: from a utility token into a component integrated into global benchmark structures used by investment firms, ETF/ETN designers, and quantitative research platforms. Its presence in multiple institutional models means that WBT is now incorporated into the analytical frameworks that guide long-term allocation strategies, diversified exposure construction, and risk-adjusted portfolio modelling.

In the late hours of December 3, WBT rallied to a new ATH of $63.05 before stabilizing around the $62 mark, according to CoinGecko data. This represents a 14.5% increase from the recent lows and a 9% surge in the weekly timeframe.

As institutional demand intensifies and the crypto market recovers, US spot XRP Exchange-Traded Funds (ETFs) continue to lead the sector with a 13-day streak and over $200 million in positive net flows this week, outshining Solana (SOL) ETFs, which recorded their third day of outflows in seven days.

XRP Funds Lead Crypto ETF Inflows

Spot XRP exchange-traded funds have extended their record-breaking streak after registering their thirteenth consecutive day of positive net flows, with $50.27 million in inflows on December 3.

The investment products have seen a remarkable performance since the launch of Canary Capital’s XRPC, the first single-token XRP spot ETF, on November 13, positioning the funds as the fastest-growing altcoin-based category.

Notably, XRPC surpassed all initial expectations and debuted on Nasdaq with a total volume of $58 million, recording around $357.54 million in positive net flows in 13 days. Last week, the second group of XRP funds went live, becoming the largest US ETF launches of 2025 with over $60 million in net inflows each during their first day.

Moreover, the category, led by Grayscale’s GXRP and Franklin Templeton’s XRPZ, surpassed other major ETFs in single-day inflows, including those based on the largest cryptocurrencies by market capitalization, Solana, Bitcoin (BTC), and Ether (ETH).

Amid this week’s market recovery, XRP ETFs saw $89.65 million on Monday, $67.7 million the following day, and an additional $50.27 million on Wednesday, for a cumulative net inflow of $207.66 million during the first three days of December.

As a result, the leading category surpassed both Bitcoin ETFs’ $52.4 million and Ethereum ETFs’ $51.3 million positive net flows, respectively, during the same three-day period.

With a total of $874.28 million in inflows in 13 days, spot XRP ETFs have surpassed the $618.62 million total inflows of SOL ETFs, which held the record among the second wave of altcoin-based investment products.

Solana ETFs Demand Loses Steam

While XRP ETFs take the spotlight, Solana funds’ momentum has slowed, seeing their largest days of outflows this week. According to SoSovalue data, the investment products recorded $32.9 million in outflows on December 3, marking their third negative net flows day since the category debuted on October 28.

Despite pulling out positive net flows, Bitwise’s BSOL, Fidelity’s FSOL, and Grayscale’s GSOL were unable to absorb 21Shares’ TSOL $41.8 million in outflows. This performance also marks the fourth negative day for TSOL over the past week.

As reported by NewsBTC, Solana ETFs experienced a record performance in November despite the market correction, with $613 million in inflows during their 22 consecutive day positive streak.

However, the remarkable streak ended a week ago when TSOL registered negative net flows for the first time, and the category was unable to absorb them, recording outflows of $8.1 million.

SOL-based investment products started December with outflows worth $13.5 million, which were followed by strong inflows worth $45.77 million on Tuesday. On December 3, the funds registered $32.19 million in outflows, amounting to a negative net flow of $700,000 for the first half of the week, despite the altcoin’s recent price recovery.

As the market rebounds, Solana (SOL) is retesting a crucial area that has served as resistance since the November pullbacks. Some market watchers suggest that a short-term rally is likely, while others have highlighted potential signs of weakness.

Solana Eyes $144 Resistance

Solana is attempting to turn the $140 area into support while nearing a key local resistance for the third time in a month. The cryptocurrency has been trading between the $120-$144 levels since mid-November, struggling to hold the high zone of its local range amid the recent market volatility.

Last week, it bounced 10% toward the $140-$144 area but plunged to the range lows after Sunday’s correction, hitting a one-week low of $123 on Monday. As a result, it tested an ascending trendline that has served as support since 2023.

Ali Martinez explained that during the pullbacks, SOL has retested this key support trendline. Notably, each time the cryptocurrency has tapped this trendline, it has registered strong rebounds in the following months, suggesting that the price could rally more than 80% in the mid-term if this support holds.

Following Tuesday’s market rebound, SOL climbed back to the range’s highs, attempting to break above the local range once more. Market observer More Crypto Online affirmed that Wednesday’s rejection from $144 was expected, as it has been a strong resistance for weeks.

The trader considers that investors should not worry as long as the mid-zone of its range, between the $134-$139 levels, holds as support. “It’s not really a breakdown yet; we just have a first sharp pullback,” he affirmed, emphasizing that there’s no evidence that bears are taking the lead.

He noted that breaking below the mid-zone of its range would open the door to a retest of the recent lows and potentially risk a drop to the $117 area or lower. Nonetheless, if bulls take the lead and reclaim the $144 level as support, it will open the door to a retest of higher levels, including the $163 level, where the major next sell wall for SOL is situated.

Is SOL’s Crucial Support Weakening?

Meanwhile, Rekt Capital shared an analysis on longer timeframes, pointing out that Solana has been moving within a clear macro range, situated between the $123 and $296 levels, in the monthly timeframe, clustering in this area since early 2024.

Per the analyst, the cluster has been developing for an extended period, and the potential for distribution and its function as a re-accumulation structure decreases the longer it continues.

Despite this, he emphasized that the focus is on the 21-month horizontal support level. As the analysis noted, Solana recorded a 140% rally during the first major rebound from the region in Q3 and Q4, 2024.

In the second rebound from this support, which started in Q3 2025, SOL saw a significantly smaller rally, surging around 100% to its September local high. Now, the cryptocurrency is rebounding from this level, which could confirm a decreasing trend for the altcoin and raise the alarm about its strength.

“While it is positive to see this rebound, if the move turns into a weaker rebound than the previous ones, then questions will arise regarding the strength of this support,” Rekt Capital asserted.

To prevent this, Solana must breach the one-year downtrend or the multi-week downtrend on the weekly timeframe. “Failing to break either of these trendlines would produce a smaller rally because the prior rebound — the one that rallied around 100% — would fall short and reject from these downtrends instead.”

The analyst concluded that a sequence of progressively smaller bounces “would imply increasing weakness into that support, which in turn would favour the potential for distribution in Solana over time.”

As the sector continues to gain global momentum, Taiwanese authorities have announced that a locally issued stablecoin could be launched next year, pending the imminent approval of the country’s regulatory crypto framework and related legislation.

First Local Stablecoin To Debut Next Year

On Wednesday, Taiwan’s Financial Supervisory Commission (FSC) Chairman Peng Jin-long revealed that the island’s first regulated stablecoin could debut in the latter half of 2026, local news outlet Focus Taiwan reported.

The FSC chair affirmed that the Virtual Assets Service Act (VASA), which incorporates stablecoin regulation, could be passed during its third hearing in the next legislative session, scheduled for this week, after clearing initial reviews with a “high level of consensus.”

After the framework’s approval, stablecoin-centered regulations would be developed within six months, setting the launch of a locally issued token pegged to the New Taiwan Dollar (NTD) or the US Dollar (USD) to the second half of the year.

The VASA supports the efforts by Taiwanese authorities to establish a comprehensive crypto framework that promotes industry growth and safeguards investors. Last year, the FSC announced an overhaul of the Anti-Money Laundering (AML) framework to include crypto businesses, introducing stricter AML guidelines for Virtual Asset Service Providers (VASPs) and requiring all crypto firms to complete the AML registration by September 2025.

In January, Peng stated that investors could have a “convenient” entrance to crypto assets in the future through stablecoins, which could serve as a bridge between the country’s legal tender and virtual currency.

In March, the FSC published the finalized draft of its landmark crypto legislation, which the VASA’s draft proposed authorizing banks to issue stablecoins pegged to the New Taiwan Dollar or the US Dollar.

Meanwhile, Premier Cho Jung-tai and Central Bank Governor Yang Chin-long recently expressed support for a formal Bitcoin (BTC) policy, pledging to study the flagship cryptocurrency as a strategic reserve asset, accelerate pro-BTC rulemaking, and pilot treasury exposure through government-seized assets.

Taiwan Sets Financial Institutions’ Role

At the legislative hearing, the FSC’s chair highlighted that the bill’s draft draws from the European Union (EU)’s Markets in Crypto-Assets Regulation (MiCA). He explained that the Virtual Assets Service Act doesn’t require stablecoins to be issued exclusively by financial institutions, which has been a divisive topic in other jurisdictions.

As reported by Bitcoinist, South Korea’s long-awaited stablecoin legislation could be delayed until next year as the Korean Financial Services Commission clashes with the Bank of Korea (BOK) over the role of banks in the sector.

A local news media outlet recently noted that the BOK and regulators agree that financial institutions must be involved in the issuance of won-pegged tokens, but differ on the extent of their role.

The central bank is pushing for a consortium of banks owning at least 51% of any stablecoin issuer seeking regulatory approval. Meanwhile, regulators are concerned that giving a majority stake to banks could reduce participation from tech companies and limit the market’s innovation. Earlier this week, authorities set December 10 as the deadline for the government to deliver a draft bill.

Unlike South Korea’s financial authorities, Focus Taiwan reported that the regulator and the central bank have agreed that only financial institutions will be allowed to issue stablecoins in the initial stage to reduce risk management, suggesting that companies could join at a later stage of the project.

The President of Poland has vetoed a controversial bill that aimed to set strict rules on the crypto assets market, following multiple concerns of a startup exodus, “overregulation” of the sector, and stifling market innovation.

Poland’s President Vetoes Divisive Crypto Bill

On Monday, Poland’s President Karol Nawrocki refused to sign a crypto market legislation over concerns that it could pose a real threat to the freedoms of Poles, the stability of the state, and market innovation.

In an official statement, the president’s office announced Nawrocki’s decision to veto the Crypto-Asset Market Act, introduced in June, to prevent “overregulation” and abuse of the “legal mess” proposed by the Polish government.

As reported by Bitcoinist, Poland’s crypto community previously raised concerns about the legislation in September, noting that the bill exceeded the European Union (EU)’s minimum regulatory requirements and could drive small businesses and startups abroad.

Notably, the bill’s text required all Crypto Asset Service Providers to obtain a license from the Polish Financial Supervision Authority (KNF) to operate in the market. It also proposed heavy fines and potential prison time for participants who breached the law.

Rafal Leśkiewicz, Press Secretary of the President, listed on X three main reasons for Nawrocki’s decision to reject the bill. He asserted that the legislation risks power abuse and overreach, as some provisions allow the government to shut down websites of companies offering crypto services “with a single click.”

“This is unacceptable. Most European Union countries use a simple list of warnings that protects consumers without blocking entire websites,” he noted.

In addition, the regulation’s size and lack of transparency risked overregulation, noting that countries like the Czech Republic, Slovakia, and Hungary implemented concise and comprehensive frameworks. Meanwhile, Poland’s text surpasses the one-hundred-page mark.

He argued that “Overregulation is a straight path to driving companies abroad—to the Czech Republic, Lithuania, or Malta—instead of creating conditions for them to earn money and pay taxes in Poland.”

Lastly, the Press Secretary listed the amount of supervisory fees as an issue, affirming that the government set them at a level that would have prevented small businesses and startups from developing, favoring foreign corporations and banks. To him, “this is a reversal of logic, killing the competitive market and posing a serious threat to innovation.”

Community Praises The ‘Necessary Decision’

Leśkiewicz emphasized that regulation is necessary, but added that it must oversee the market in a way that’s “reasonable, proportionate, and safe” for users, rather than overreaching and potentially harming the Polish economy.

“The government had two years to prepare a bill in line with the European MiCA regulation on the crypto-asset market in the European Union. Instead, it produced a legal mess that hurts Poles and Polish companies,” he asserted. “The decision to veto was necessary and was made responsibly. The president will defend the economic security of Poles.”

Polish economist Krzysztof Piech praised the president’s decision to veto the crypto bill, affirming that it was “a very bad law” that “violated the Polish Constitution and was contrary to the EU regulation it was supposed to implement in Poland.”

Piech also refuted claims that Poland will become a “paradise” for criminals and fraudsters, who will “be grateful” to President Nawrocki for “a crypto market without state supervision.”

The economist asserted that the government’s version of the bill “did not provide for any assistance to victims of fraudsters,” adding that, “as of July 1, 2026, the entire Polish market will be regulated and supervised — even without any legislation. After all, we are in the EU.”

Bitcoin (BTC) began the week dropping nearly 10% from the recent highs and retesting the $84,000 area before bouncing. As price risks more downside with early bear market signals, a market observer suggested that the upcoming weeks will be crucial for BTC’s future path.

Bitcoin Holds Key Weekly Range

Last week, Bitcoin led the brief market recovery, surging from its seven-month low of $80,600 toward the $93,000 area, retesting a key weekly re-accumulation range between these two levels. However, the Sunday correction sent the price back to the range lows, raising concerns about the flagship crypto’s short-term future.

Analyst Rekt Capital highlighted that BTC is stabilizing within its weekly range, holding its position above the $82,000 range low. This area marks the top of an early 2025 liquidity cluster that developed around the 50-Week EMA, where the price has tapped with three downside wicks over the past month.

“Last week’s Weekly Close above the Range Low enabled a relief move toward $93,500,” the analyst explained, “but that level acted as clean resistance,” after Friday’s rejection. To the analyst, maintaining stability around the weekly range lows is important because further downside wicking into the cluster is probable.

However, he noted that the consolidation structure remains intact as long as BTC’s price continues to hold above the range low in the weekly timeframe. Rekt Capital added that Bitcoin continues to trade below a sharply declining Macro Downtrend that “has been dictating resistance throughout this phase of the cycle.”

Per the analysis, “A breakout soon would require reclaiming higher price levels, whereas a later attempt would meet the trendline at lower valuations, narrowing the distance between the current price and resistance.”

“In either case, the Macro Downtrend remains the dominant structural barrier, and Bitcoin’s path forward depends on whether consolidation near the Weekly Range Low can bring price closer to a meaningful test of this sharply descending level,” he continued.

BTC’s Vulnerable Technical Environment Raises Alarms

Rekt Capital also highlighted that BTC remains below the 21-Week EMA and 50-Week EMA, which could pose a problem for its future price action as the distance between these moving averages continues to narrow.

As he detailed, when these EMAs compress and ultimately cross, it tends to precede further downside. Although it usually takes weeks after the crossover for price acceleration to “fully unfold,” it still implies that the crossover risk is increasing.

The two EMAs currently represent potential resistance levels on future relief attempts, with the 50-Week EMA retest “leaving room for a future rejection if price revisits it.”

This position, the analyst explained, places BTC in a “vulnerable technical environment” as “the convergence of the EMAs toward the Macro Downtrend creates a layered zone of resistance that will be difficult to overcome unless price can reclaim one of these moving averages and stabilise above it.”

Until Bitcoin successfully turns one of the EMAs into support, “the structure resembles the early-stage clustering seen in prior cycles where EMAs compressed before a broader bearish continuation,” the analyst concluded.

As of this writing, Bitcoin is trading at $88,294, a 2.3% increase in the daily timeframe.