SEC Chairman: The SEC expects to release the 'innovation exemption' for the crypto industry in 'about a month'.
SEC Chairman Paul S. Atkins stated in an interview with CNBC that the SEC expects to release the 'innovation exemption' for the crypto industry in 'about a month'. He mentioned that the original timeline was delayed due to the government shutdown, but the SEC has now returned to normal operations and will continue to push for a regulatory framework that supports crypto innovation, reversing the resistance stance of the past few years. Atkins also stated that the SEC plans to introduce new policies next year to improve the market environment for IPOs.
The UK's Property (Digital Assets etc) Bill has officially come into effect.
The Speaker of the House of Lords in the UK, John McFall, announced on Tuesday that the Property (Digital Assets etc) Bill has received Royal Assent from King Charles III, meaning the bill officially becomes law. The bill explicitly defines cryptocurrencies, stablecoins, and other digital assets as personal property protected by law, providing a legal basis for the recognition of ownership, asset recovery, bankruptcy, and estate handling for digital assets, and is regarded as an 'important milestone' in UK crypto regulation. Data from the UK's financial regulators indicate that as of last year, about 12% of UK adults own crypto assets.
BlackRock CEO: Some unnamed sovereign funds are buying Bitcoin to establish long-term positions.
BlackRock CEO Larry Fink revealed that some unnamed sovereign funds are buying Bitcoin, and when the price of Bitcoin fell from its peak of $126,000, 'they bought more.' Larry Fink indicated that these funds are buying in a 'gradual' manner and increasing their holdings as the price of Bitcoin dips to the $80,000 range, aiming to establish long-term positions. Recently, sovereign funds from Abu Dhabi and Luxembourg have disclosed purchases of shares in the BlackRock IBIT Bitcoin ETF.
Bank of America has recommended for the first time that its wealth management clients allocate 1%–4% to crypto assets.
Bank of America (BofA) has for the first time recommended that its wealth management clients allocate 1%–4% to crypto assets. This recommendation applies to Merrill, Private Bank, and Merrill Edge, and will officially cover and provide research on four Bitcoin ETFs: BITB, FBTC, Grayscale Mini Trust, and IBIT starting January 5, 2026. Previously, BofA advisors were not allowed to proactively recommend crypto products, but now about 15,000 wealth advisors can directly suggest allocation to clients, marking the formal inclusion of crypto assets into the mainstream asset allocation system.
Strategy announced the establishment of a $1.44 billion reserve for paying dividends.
Strategy announced the establishment of a $1.44 billion reserve to cover at least 12 months of preferred stock dividends and debt interest, with plans to expand to 24 months. The company stated that the reserve was built from funds raised through ATM equity issuance. It currently holds 650,000 BTC, accounting for approximately 3.1% of the total. Previously, Strategy indicated that it would only consider selling Bitcoin as a 'last resort' if the mNAV (net asset value per Bitcoin) falls below 1 and financing is not possible. CEO Phong Le emphasized that the company has no plans to sell coins and remains committed to a long-term holding stance, but does not rule out technical reductions to protect shareholder returns if premiums disappear or fundraising is hindered.
The selling pressure for Bitcoin is nearing its end, and a phase bottom is currently forming.
On December 7, CryptoOnchain published an analysis stating that the SOPR ratio (LTH-SOPR / STH-SOPR) of Bitcoin has dropped to 1.35, the lowest level since 2024, while the price has retraced to around $89,700. 1. The massive selling pressure is nearing its end. When the SOPR ratio is high, it indicates that long-term holders (LTH) are taking profits more aggressively compared to short-term holders (STH). Now that the ratio has fallen to 1.35, it suggests that the large-scale distribution phase of old coins has clearly receded, and the profit gap between old players and new capital is narrowing. 2. Market sentiment has significantly cooled. The SOPR ratio is often used as an oscillating indicator of market sentiment. This decline indicates that the market has undergone a thorough 'reset,' clearing out speculative bubbles from the early stages of the cycle. Historical data shows that during macro bull markets, a decline in the SOPR ratio to these low ranges often means that selling pressure is nearing its end. If the indicator stabilizes around 1.35 or rises again, it may suggest that a phase bottom is forming, providing a healthier foundation for the next round of increases.
The Ethereum mainnet has successfully completed the Fusaka upgrade and achieved finalization.
The Ethereum mainnet has successfully completed the Fusaka upgrade and achieved finalization. Fusaka is an important step in Ethereum's scaling roadmap: enhancing L1 performance, expanding blob capacity, improving rollup cost efficiency, and bringing UX improvements. It also introduces the Blob Parameter Only (BPO) forking mechanism to safely increase blob capacity when rollup demand rises. It is understood that Consensys has indicated that Ethereum currently plans to accelerate development from annual upgrades to 'two hard forks per year'.
Macro outlook for next week: The Fed's rate cut is 'a done deal', and the hawk-dove battle is attracting attention.
According to Jin10, the last interest rate meeting of the Fed this year is approaching, and it will announce its interest rate decision at 3:00 AM (UTC+8) on Thursday, followed by a monetary policy press conference by Federal Reserve Chairman Jerome Powell at 3:30 AM (UTC+8). According to CME FedWatch, the probability of a 25 basis point rate cut next week is 84%. The upcoming Fed meeting is expected to be one of the most controversial in recent years, with investors focusing on policymakers' divergences regarding the prospects for rate cuts and the signals issued by Chairman Powell about the future direction of policy. Among the 12 voting members of the Federal Open Market Committee (FOMC), 5 expressed opposition or skepticism about further easing of monetary policy, while 3 members of the board supported a rate cut. Since 2019, there have not been three or more dissenting votes in any FOMC meeting, and the divergences have attracted close attention from dissenters. Important macro data and events are as follows: Tuesday: The Reserve Bank of Australia announces interest rate decision, and RBA Chairman Philip Lowe holds a monetary policy press conference; Wednesday: The U.S. third-quarter labor cost index quarterly rate; the Bank of Canada announces interest rate decision; Thursday: The Fed FOMC announces interest rate decision and economic outlook summary, and Chairman Powell holds a monetary policy press conference; U.S. initial jobless claims for the week ending December 6; Friday: The Fed releases household financial health data in the cash flow report for Q3 2025; 2026 FOMC voter, Philadelphia Fed President Patrick Harker speaks on economic outlook; 2026 FOMC voter, Cleveland Fed President Loretta Mester speaks; Chicago Fed President Austan Goolsbee participates in host dialogue before the 39th Annual Economic Outlook Symposium of the Chicago Fed. Market closure reminder: The U.S. stock market will close early at 2:00 AM Beijing time on Wednesday; on Thursday, the U.S. stock market, stock markets in several European countries, South Korea, and Australia will all be closed, and trading in precious metals, crude oil, foreign exchange, and stock index futures contracts under the CME as well as Brent crude futures contracts under the ICE will be suspended all day.
