- Cambodia approves some crypto businesses: According to the Phnom Penh Post, the National Bank of Cambodia has allowed commercial banks and payment institutions to provide services involving Category 1 crypto assets for the first time, including secured or stable cryptocurrencies, but unsecured cryptocurrencies such as Bitcoin are still prohibited.
- Hong Kong's "Stablecoin Bill" released: On December 6, the Hong Kong government announced the highly anticipated "Stablecoin Bill", which provides a detailed regulatory framework for issuers of fiat-pegged stablecoins, aiming to strengthen the supervision of stablecoins.
- The IRS requires DeFi brokers to perform transaction reporting obligations: The IRS issued final regulations requiring decentralized financial brokers to report the total proceeds of digital asset transactions and provide customers with 1099 forms to collect user transaction information, including name and address. The regulations apply to transaction front-end service providers that interact directly with users, but not the protocols themselves.
