Global Payment Giant Expands Crypto Footprint
Visa has partnered with cryptocurrency infrastructure provider Aquanow to significantly expand stablecoin settlement services across Central and Eastern Europe, the Middle East, and Africa regions. This strategic integration enables Visa’s regional issuer and acquirer network to process transactions using approved stablecoins like USDC with continuous 365-day settlement capabilities, marking a major advancement in institutional crypto adoption.
Regulatory Landscape Shifts Worldwide
This week witnessed significant regulatory developments across multiple jurisdictions, with China reinforcing its cryptocurrency prohibition while Western nations advanced new frameworks for digital asset oversight.
China Reaffirms Crypto Ban
The People’s Bank of China issued a strong statement following Friday’s multi-agency meeting, declaring that digital asset operations remain illegal within the country. The central bank specifically highlighted stablecoin usage risks, stating that “virtual currencies do not have the same legal status as fiat currencies, lack legal tender status, and should not and cannot be used as currency in the market.”
UK Implements Crypto Reporting Framework
The UK government announced in its 2025 Budget that new regulations will require cryptocurrency traders to provide personal information to trading platforms beginning January 1, 2026. The Cryptoasset Reporting Framework, introduced through international OECD agreements, mandates that service providers share customer data including transactions and tax reference numbers with HM Revenue & Customs.
Major Industry Developments and Market Movements
Beyond regulatory changes, the cryptocurrency sector experienced significant corporate developments and strategic shifts that could reshape market dynamics in the coming months.
Tether Exits Uruguayan Mining Operations
The stablecoin issuer announced cessation of Bitcoin mining activities in Uruguay, citing prohibitive energy costs as the primary factor for the strategic withdrawal. Local media reported that El Salvador-based Tether confirmed to Uruguay’s Ministry of Labor and Social Security it would lay off 30 of 38 employees in the country.
Upbit Addresses Security Vulnerability
The South Korean exchange discovered and remediated a serious internal wallet system vulnerability during emergency investigation of a theft earlier this week. Following November 26 detection of abnormal Solana-based outflows including SOL, ORCA, RAY, and JUP tokens, Upbit immediately halted withdrawals and transferred remaining assets to cold storage.
Animoca Brands Strategic Pivot
The major crypto and web3 investor revealed plans to emphasize stablecoin development and real-world asset tokenization in the coming year according to chief strategy officer Keyvan Peymani. Peymani stated in a CNBC interview that the company will “launch into the stablecoin initiative in a major way” while introducing an RWA marketplace representing “a whole new sector for us.”
Legal and Regulatory Approvals Advance
Several key regulatory approvals and legal developments marked significant progress for cryptocurrency infrastructure and services globally.
Securitize Gains Dual-Market Regulatory Approval
The BlackRock and Ark Invest-backed tokenization specialist received full European Union regulatory approval to operate a digital trading and settlement system. With this authorization, Securitize claims to be the only firm licensed to operate tokenized securities infrastructure in both the EU and United States.
MoonPay Secures New York Trust Charter
The crypto payments firm received regulatory approval to safeguard customer digital assets following receipt of a New York Trust Charter according to Tuesday’s announcement. The charter authorizes MoonPay to hold digital assets on behalf of customers and facilitate over-the-counter trades occurring directly between parties outside centralized exchanges.
Polymarket Receives CFTC Regulatory Approval
The prediction market platform obtained an Amended Order of Designation from the Commodity Futures Trading Commission, enabling fully regulated U.S. operations. The Monday approval, announced Tuesday, permits Polymarket to offer intermediated access allowing participation through futures commission merchants and traditional brokerage channels.
