Crypto Morning Brief: Hassett hints at rate cut, Stripe to launch stablecoin payment feature
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Crypto Morning Brief: Hassett hints at rate cut, Stripe to launch stablecoin payment feature
Circle obtains a financial services license from the Abu Dhabi Global Financial Centre.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Hassett: The Fed has ample room for significant rate cuts
Kevin Hassett, a leading candidate for the next Federal Reserve chair and director of the White House National Economic Council, said Tuesday he believes the Fed has "ample room" to make large interest rate cuts. When asked whether he would push for the "big rate cuts" desired by Trump if appointed, he responded: "If the data shows we can do it—like now—I think there's absolutely room to do so."
When pressed further on whether this meant cuts larger than 25 basis points, he clearly answered: "Yes." Trump told Politico on Tuesday that rapid rate cuts would be a "litmus test" for his Fed chair pick. Asked whether his loyalty would lie with Trump or independent economic judgment if appointed chair, Hassett said: "I will stick to my judgment, and I believe the president trusts my judgment."
SEC Chair: Various types of crypto ICOs are not securities offerings; focus will shift to regulating tokenized securities
According to Decrypt, SEC Chair Paul Atkins stated at the Blockchain Association’s annual policy summit that various types of ICOs should be considered non-securities transactions and therefore fall outside the SEC’s regulatory scope.
Atkins specifically referenced the token classification framework he introduced last month, which divides the cryptocurrency industry into four major token categories. He argued that three of them—network tokens, digital collectibles, and digital tools—should not be deemed securities, and related ICOs should also be treated as non-securities transactions.
"Three areas fall under CFTC jurisdiction—we’ll let them handle those—and we will focus on tokenized securities," Atkins said. He noted that the only category of ICOs the SEC should regulate is tokenized securities, meaning representations of traditional securities already regulated by the SEC but traded on-chain.
Hong Kong government plans to automatically exchange crypto asset transaction tax data with partner jurisdictions starting in 2028
According to a Hong Kong government press release, the Hong Kong government has launched a public consultation on implementing revisions to the OECD's Crypto-Asset Reporting Framework (CARF) and Common Reporting Standard (CRS).
The government aims to complete local legislative amendments by next year, targeting automatic exchange of tax-related data on crypto asset transactions with partner tax jurisdictions from 2028 onward, with the revised CRS to be implemented starting in 2029. Financial Secretary Christopher Hui emphasized that this move demonstrates Hong Kong’s commitment to promoting international tax cooperation and combating cross-border tax evasion, which is crucial for maintaining Hong Kong’s reputation as an international financial center.
The OECD published the reporting framework in 2023, enabling partner jurisdictions to automatically exchange tax-related data on crypto asset transactions annually. Hong Kong has been exchanging financial account information with partners since 2018 under the OECD’s CRS. The public may submit comments on the proposed changes before February 6, 2026.
TRUMP Meme coin announces upcoming mobile game launch today
According to an official announcement, the TRUMP Meme token’s X account posted early this morning: “The TRUMP mobile game is coming soon, built exclusively for real Trump fans. Free waitlist now open.”
Stripe's stablecoin payment feature launches December 12, supporting Ethereum, Base, and Polygon networks
As disclosed by Adam, co-founder of RWA.xyz, payments giant Stripe will enable stablecoin payments for user accounts on December 12. The feature supports stablecoins like USDC on major blockchain networks including Ethereum, Base, and Polygon. Stripe stated that stablecoin payments have been fully integrated into its optimized checkout suite, allowing existing integrations to use the feature without code changes.
In terms of fees, stablecoin payments incur a 1.5% charge on the transaction amount (calculated in USD), with no fixed fee. All transactions will settle in USD to users’ existing payout balances.
Stripe and Paradigm open public testing of Tempo blockchain, adding Kalshi and UBS as partners
According to Bloomberg, payments giant Stripe and crypto venture firm Paradigm announced on December 9 the public testing phase of their jointly developed blockchain project, Tempo, inviting any company interested in building real-world stablecoin payment applications to participate. The public test also adds Kalshi and UBS as new partners. Interest in the stablecoin market has surged during Trump’s second presidency, with the White House establishing a federal regulatory framework for these tokens, typically pegged to real-world assets like the US dollar. Stripe is among numerous financial institutions, retailers, and startups announcing pilots, deals, or partnerships tied to this rapidly growing segment of the crypto market.
Circle launches bank-grade privacy stablecoin USDCx in collaboration with Aleo blockchain
According to Fortune, Circle and the Aleo blockchain announced a partnership to launch USDCx, a privacy-enhanced stablecoin. This stablecoin will offer users "bank-grade privacy," making transaction data invisible to the public while preserving compliance records for regulatory review.
Circle obtains financial services license from Abu Dhabi Global Market
According to an official announcement from Circle, Circle Internet Group (NYSE: CRCL) has obtained a Financial Services Permission (FSP) from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM), allowing it to operate as a money services provider within this international financial center.
Additionally, Circle has appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa region. Previously serving as Senior Vice President and Gulf Cooperation Council Group Country Manager at Visa, Dr. Jaffar will lead Circle’s regional strategy, deepen partnerships with financial institutions and enterprises, and accelerate the adoption of trusted digital dollar and on-chain payment solutions across the UAE and broader Middle East and Africa markets.
Jeremy Allaire, Circle’s co-founder and CEO, stated that regulatory clarity is foundational to building a more open and efficient internet financial system. This license enables Circle to expand regulated payment and settlement use cases for businesses, developers, and financial institutions in the UAE.
Coinbase reaches major partnership with PNC Bank
Coinbase’s Crypto-as-a-Service platform now offers direct Bitcoin trading services to PNC Private Bank clients, making PNC the first major U.S. bank to launch such a service. This partnership aims to seamlessly integrate digital assets into the traditional financial system.
Meta may launch new AI large model Avocado early next year
Insiders reveal that Meta may release a new large language model named Avocado in the first quarter of 2026 to further compete with companies like Google and OpenAI.
SpaceX plans IPO at $1.5 trillion valuation, potentially becoming the largest IPO in history
According to Jinshi Data citing Bloomberg, SpaceX’s expected IPO valuation is approximately $1.5 trillion, with fundraising far exceeding $30 billion. SpaceX plans to go public in the latter half of 2026, with timing dependent on market conditions. SpaceX projects sales of about $15 billion in 2025 and between $22 billion and $24 billion in 2026. SpaceX’s IPO could become the largest in history.
Market Movements
Suggested Reading
This Thursday morning, what determines risk asset direction isn't rate cuts themselves
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Bitwise: My most confident investment in cryptocurrency
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What crypto decisions has Fidelity’s CEO made over the past decade?
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The truth behind cryptocurrency 'theft and scams': Why civil remedies keep failing?
This article presents an analysis of cryptocurrency fraud cases and the challenges in legal recourse, focusing on two real cases that highlight the difficulties of criminal and civil remedies in the crypto space. It emphasizes the limitations of civil remedies when criminal acts are involved and recommends pursuing criminal channels first to recover losses.
Where will the money for the next bull run come from?
This article explores the future direction of the crypto market, analyzing potential funding sources for the next bull cycle, with a focus on institutional capital, real-world asset (RWA) tokenization, and infrastructure upgrades as key drivers. It also notes that the market is shifting from retail-driven to institutional and structural capital support.
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