Organized by: Jerry, ChainCatcher
Key News:
- Metaverse game ChronoForge announces it will cease operations on December 30
- The Federal Reserve will release the monetary policy meeting minutes on December 31 at 3:00
- Binance will cease services on the Binance Live platform on December 31
- The Hong Kong Monetary Authority will implement new Basel capital requirements for crypto assets on January 1, 2026
December 29 (Monday)
The "Blue Sky Ge Rui Case Refund Working Group" of the Finance Bureau of Hedong District, Tianjin, issued a notice reminding participants in the Blue Sky Ge Rui case who have not registered to confirm their participation to verify their status by the deadline of December 29, 2025. This verification will serve as the basis for refunding the funds.
The Tianjin Blue Sky Ge Rui Electronic Technology Co., Ltd. case involves illegal public deposit collection, with an amount exceeding 43 billion yuan (the officially reported cumulative illegal fundraising amount), affecting nearly 130,000 victims across 31 provinces, municipalities, and autonomous regions in the country. The main perpetrator, Qian Zhimin, fled to the UK with the funds, leading to the largest Bitcoin money laundering case in the UK involving 60,000 bitcoins.
December 30 (Tuesday)
Binance will delist FDUSD margin trading pairs such as EIGEN/FDUSD, ARB/FDUSD on December 30
Binance will remove the following leveraged trading pairs on December 30, 2025, at 14:00:
Cross-margin trading pairs: EIGEN/FDUSD, ARB/FDUSD, TRUMP/FDUSD, POL/FDUSD, ATOM/FDUSD, LDO/FDUSD, SHIB/FDUSD, RAY/FDUSD, GALA/FDUSD, PEPE/FDUSD;
Isolated-margin trading pairs: EIGEN/FDUSD, ARB/FDUSD, POL/FDUSD, ATOM/FDUSD, LDO/FDUSD, SHIB/FDUSD, GALA/FDUSD, PEPE/FDUSD.
Users are advised to close positions and transfer assets before this date, as Binance will not be responsible for any potential losses.
Metaverse game ChronoForge announces it will cease operations on December 30
The metaverse game ChronoForge announced on the X platform that it will cease operations on December 30 due to "many obstacles," including a lack of funds, which forced the founders to self-fund development since July and lay off 80% of the staff.
ChronoForge is an NFT adventure project that offers 7,500 unique playable characters and mini-games. It was developed by Minted Loot Studios and overseen by its affiliated entity, Rift Foundation, which manages the game's tokens and ecosystem. The project became active in 2022 when it launched its first NFT collection and began early community-building efforts.
Italy requires virtual asset service providers to submit operating applications by December 30
The Italian Securities Market Regulator (Consob) issued a notice reminding that according to the EU's Markets in Crypto-Assets Regulation (MiCAR), virtual asset service providers (VASPs) currently registered with Italy's OAM must submit applications to transition to regulated crypto asset service providers (CASPs) by December 30, 2025, to continue operations. Otherwise, they will not be allowed to provide related services from that date, with a deadline no later than June 30, 2026.
Consob specifically reminds investors to confirm whether their current VASP plans to apply for a CASP license; check if the service provider is listed in the ESMA (European Securities and Markets Authority) or OAM registry; if the service provider is unauthorized, investors have the right to request the return of their assets. Consob also urges VASPs: those who do not apply for CASP authorization must cease operations by December 30, close all contracts, and refund user funds; clearly disclose future operational plans or exit arrangements to users. This announcement is to facilitate the comprehensive implementation of MiCAR in the EU and ensure a smooth and orderly market transition.
December 31 (Wednesday)
The Federal Reserve will release the monetary policy meeting minutes on December 31 at 3:00
At 3:00 on December 31, Beijing time, the Federal Reserve will release the monetary policy meeting minutes.
Due to the upcoming Christmas and New Year holidays, no Federal Reserve officials will speak next week, nor will major central banks, but the December meeting minutes will be closely watched by investors looking for any clues regarding the timing of the next interest rate cut and to understand the level of concern among policymakers who voted to maintain interest rates about inflation.
According to the official announcement, Binance will cease services on the Binance Live platform on December 31, 2025. Thereafter, Binance Square will continue to provide live services to users. The Binance Live web and app will stop being accessible from January 1, 2026, at 07:59 (UTC+8).
From the date of the announcement until December 1, 2025, at 08:00 (UTC+8), hosts who create at least one Binance Live session will automatically gain access to Binance Square Live starting at 08:00 (UTC+8) on December 1, 2025. All points, gifts, and vouchers on Binance Live will expire after January 1, 2026, at 07:59 (UTC+8).
Hats Finance: will shut down its centralized hosted front-end and server operations on December 31
According to the official announcement, the decentralized security project Hats Finance announced on the X platform that Hats.finance will finalize its hosted operations, as it believes that continuing to operate a centralized user interface (UI) and server is unsustainable, and there are currently no plans to adopt a new legal or operational framework to continue this hosted structure.
The current arrangement is as follows: The user front-end and back-end (UI and server) hosted by Hats.finance are expected to go offline on December 31, 2025, and most functions relying on this hosted structure will gradually be phased out; the Hats protocol remains deployed on-chain and is managed by a DAO, with core contracts designed to continue operating as coded;
Currently, the user front-end has provided an IPFS-based version, and as long as this version is still in service, users may access it through public gateways. However, due to the cessation of payments to current fixed service providers (such as Pinata), its continued availability and performance cannot be guaranteed. Users can submit withdrawal requests through the hosted UI before December 17, after which they must interact directly with the contract to complete withdrawals.
January 1 (Thursday)
The EU's latest Digital Asset Tax Transparency Directive will take effect on January 1, formally incorporating cryptocurrency activities into the EU's tax reporting system.
This directive, known as DAC8, requires crypto asset service providers to collect and report detailed information about users and transactions to national tax authorities, which will then share this data among EU member states. This reform fills a long-standing gap, as certain parts of the crypto economy have faced less regulatory scrutiny than traditional financial accounts. Under DAC8, tax authorities can publicly and transparently regulate the holding, trading, and transfer of cryptocurrencies as they do with bank accounts. Exchanges, brokers, and other crypto service providers must now view tax reporting as a core operational requirement rather than a secondary compliance matter. Although the directive takes effect on January 1, businesses have a limited transition period to adjust their systems before enforcement.
According to Caixin, the Hong Kong Monetary Authority recently issued a circular confirming that it will fully implement new bank capital requirements based on the Basel Committee on Banking Supervision's standards for crypto asset regulation in Hong Kong starting January 1, 2026.
Fei Si, a partner at King & Wood Mallesons in Hong Kong and a lecturer at the University of Hong Kong's Faculty of Law, stated in an exclusive interview with Caixin that the new regulations set the risk weight for crypto asset risk exposures using unlicensed blockchain technology at a maximum of 1250%, meaning banks must hold capital against these crypto asset risk exposures at a ratio of at least 1:1. Such high regulatory capital requirements will lead many banks to be unwilling to hold such crypto assets.
Turkmenistan passes a regulatory bill for crypto assets, effective January 1 next year
According to Reuters, Turkmenistan has passed a bill to legalize and regulate digital assets, including a licensing system for cryptocurrency exchanges and crypto mining companies.
The President of Turkmenistan, Serdar Berdymukhamedov, has signed the bill, which will officially take effect on January 1. According to a government spokesperson, the bill will help attract investment and promote digitalization.
The bill covers the regulatory framework for the creation, storage, issuance, use, and circulation of virtual assets within Turkmenistan, and clarifies their legal and economic status. Turkmenistan is a landlocked country located in the southwestern part of Central Asia.
Lithuanian Central Bank warns: Crypto services without MiCA license will be illegal from January 1
The Lithuanian Central Bank (Lietuvos Bankas) announced that after the legislation incorporates the EU MiCA into domestic law, all crypto service providers must submit license applications by December 31, and providing related services without a license will be illegal from January 1.
Regulatory measures include fines, website bans, and in severe cases, criminal charges that could lead to a maximum of 4 years in prison. The central bank requires those who do not continue operations to promptly notify customers and complete asset returns and transfers. It has been disclosed that only about 30 out of approximately 370 registered entities have applied, with around 120 actually active. Lithuania intends to serve as a "gateway" for MiCA entry.
Cryptocurrency exchange Upbit announced that it plans to conduct digital asset/deposit audits and server maintenance on January 1, 2026, and suspend services:
Server maintenance time: January 1, 2026 (Thursday) 02:00–08:00
Korean won deposit and withdrawal suspension time: January 1, 2026 (Thursday) 02:00–08:00
Digital asset deposit and withdrawal service suspension time: December 31, 2025 (Wednesday) 20:00 to January 1, 2026 (Thursday) 08:00
January 3 (Saturday)
Infinex: INX token sale planned for January 3-6, registration now open
Infinex announced on the X platform that registration for the INX token sale is now open, which will take place from January 3 to 6 on the Sonar platform, offering 5% of the INX supply, with a final FDV of $99.99 million, locked for one year, with an option for early unlocking.
The sale has a minimum amount of $200 and a maximum of $2,500, with random allocation but opportunities for bonuses.
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