Date：2025-12-19 17:18 UTC
| Token Icon | Coin | Current Price | 24h High | 24h Low | Volatility |
|---|---|---|---|---|---|
 |
Ethereum | $2,984.75 | $2,989.88 | $2,817.31 | 5.56% 🔴 |
Note: Price data is a snapshot; please invest with caution.
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As we approach the end of 2025, the regulatory frameworks for global crypto assets and fintech are rapidly taking shape. Over the past 24 hours, legislative bodies and regulatory authorities in the United States, Hong Kong, and Poland have all signaled significant moves, highlighting a global shift towards the institutionalization and compliance of digital assets.
Here is a summary of the latest key updates:
1. United States: 2026 Set as Key Year for Regulation; Potential "Onshore Shift" for Stablecoins
According to TechFlow, Ira Auerbach, former Head of Digital Assets at Nasdaq, revealed the future direction of US regulation on December 19. He indicated that the US is preparing to further solidify the regulatory framework of the "GENIUS Act" in 2026.
Key Highlights:
- Onshore Advantage: With the clarification of the regulatory structure, stablecoin issuers who previously relied on offshore jurisdictions may find that moving reserves and operations back to US soil offers significant competitive advantages.
- Industry Outlook: This move is widely seen as a strategic step for the US to regain global pricing power and regulatory influence over the digital asset sector.
2. Hong Kong: Deepening "Tokenization" Efforts; Focus on Bonds and Digital Currencies
As Asia’s crypto-finance hub, Hong Kong continues to double down on Real World Asset (RWA) tokenization. According to ChainCatcher, Joseph Chan, Under Secretary for Financial Services and the Treasury (FSTB), disclosed the government’s latest initiatives at the "Web5 Eco" summit on December 18.
Key Highlights:
- Legal Framework Study: The Hong Kong government is actively studying the legal regulatory system for the issuance and trading of tokenized bonds, aiming to provide a clear legal basis for these new financial products.
- Digital Currency Push: The Hong Kong Monetary Authority (HKMA) is accelerating digital currency projects, including promoting the launch of tokenized deposits by commercial banks and the settlement application of real tokenized assets, further bridging traditional finance with Web3.
3. Poland: Sejm Re-passes "Crypto Asset Market Act" to Align with EU Standards
In Europe, Poland's legislative process is moving forward despite previous hurdles. On December 19, TechFlow reported that the Polish Sejm (lower house) passed the "Crypto Asset Market Act" once again, sending it to the Senate for review.
Key Highlights:
- Legislative Determination: The bill had previously been vetoed by President Karol Nawrocki, but the Sejm's insistence on passing it again demonstrates a strong resolve to push for compliance.
- EU Alignment: The act aims to align Polish national law with the European Union’s Markets in Crypto-Assets Regulation (MiCA), establishing unified market standards.
- Points of Contention: Despite its passage, critics remain concerned that the bill grants excessive power to the Polish Financial Supervision Authority (KNF), which could potentially impact market freedom.
【Editor’s Take】 Synthesizing these updates—from the long-term planning of the US "GENIUS Act" and Hong Kong’s pragmatic approach to RWA tokenization, to Poland’s legislative efforts to meet EU MiCA standards—one conclusion is clear: The digital asset industry is moving away from "wild growth" and entering a new era of "compliance competition." For practitioners and investors, monitoring the implementation details of these local regulations will be crucial for future strategic planning.
