The total market value of cryptocurrencies is $2.36 trillion, with a 24-hour decline of 4.65%

[U.S. Trade Representative: Washington hopes to remove the 25% tariff on India's purchase of Russian oil] U.S. Trade Representative Katherine Tai stated during a Senate committee meeting that Washington hopes to remove the 25% tariff imposed on India's purchase of Russian oil as soon as possible.

The group calls for a forward-looking framework to maintain the U.K.'s fintech leadership and attract international investment.

[Japan National Tax Agency: Cryptocurrency Back Taxes for 2024 Amount to 4.6 Billion Yen] On December 11, the Japan National Tax Agency announced that in 2024, 613 on-site investigations were conducted on individuals involved in cryptocurrency transactions, resulting in back taxes amounting to approximately 4.6 billion yen, a year-on-year increase of about 31.4%. The agency focused on transactions such as DeFi and airdrops, utilizing AI-assisted screening. If concealment or fraud is detected, an additional penalty tax of up to 40% may be imposed. Currently, the Japanese government is discussing adjusting cryptocurrency income to a 20% separate taxation system, with the relevant direction expected to be clarified by the end of the year.

[South Korea claims Binance only froze 17% of the requested amount of stolen Upbit assets] South Korean police requested Binance to freeze approximately 470 million KRW worth of Solana tokens stolen from Upbit and transferred to Binance. Binance, citing the need for 'further verification of the facts,' only froze 17% of the requested amount (approximately 80 million KRW) and delayed about 15 hours before completing the freeze and providing notification.

[Elliptic Report Indicates Banks, Stablecoins, and Asian Financial Hubs Will Dominate Crypto Policy-Making] Elliptic has released the 'Global Cryptoasset Regulatory Outlook 2025' report, highlighting that global cryptocurrency regulation is undergoing transformation, with banks, stablecoins, and Asian financial hubs set to lead the next phase of policy-making. This year, governments around the world are shifting their regulatory focus from enforcement-driven approaches to building comprehensive regulatory frameworks that prioritize innovation. U.S. President Trump has made seizing leadership in the cryptocurrency sector one of his core policy priorities and has pushed for the formal passage of the 'Cryptocurrency Innovation and Cybersecurity Enhancement Act' (GENIUS Act), which has become the first federal-level stablecoin regulatory framework in the United States.