1. According to a news release from the Hong Kong Special Administrative Region Government, Hong Kong published the Stablecoin Bill in the Gazette today to introduce a regulatory system for issuers of fiat stablecoins in Hong Kong. The Bill aims to improve the regulatory framework for virtual asset activities to address the potential risks posed by fiat stablecoins to financial stability, ensure that users have adequate protection, and give full play to the benefits that virtual assets and related technologies can bring. Under the proposed licensing system, any person who conducts any of the following activities must first obtain a license from the Monetary Authority: (i) issuing fiat stablecoins in Hong Kong during the course of business; (ii) issuing fiat stablecoins that claim to be anchored to the value of the Hong Kong dollar during the course of business; (iii) actively promoting the issuance of its fiat stablecoins to the Hong Kong public. In order to effectively implement the system, the Bill also proposes to give the Monetary Authority the necessary regulatory, investigative and law enforcement powers. The Bill will be submitted to the Legislative Council for first reading on December 18.

2. Russian President Vladimir Putin announced that Russia will begin integrating its central bank digital currency (CBDC), the digital ruble, into the federal budget system starting next year, with the goal of promoting it nationwide by July 1, 2025. Putin emphasized ongoing efforts to improve corporate efficiency and stressed infrastructure construction aimed at reducing costs and simplifying operations. The move is in line with Russia's efforts to strengthen the ruble's position in international transactions. The move is part of the country's strategy to modernize its financial system and adapt to digital advancements, ensuring that the budget process is seamless and cost-effective.

3. FOX Business reporter Eleanor Terrett tweeted that the U.S. Securities and Exchange Commission (SEC) has notified at least two of the five potential issuers that it will reject their 19b4 applications for the SOL spot ETF. "As far as I know, the consensus here is that under the current government, the U.S. SEC will not accept any new crypto ETF applications."

4. Australia's national financial intelligence agency has made cryptocurrency a priority for the coming year and is setting up a new task force to crack down on cryptocurrency ATM providers that may violate anti-money laundering laws. Brendan Thomas, CEO of the Australian Transaction Reports and Analysis Centre (AUSTRAC), said in a statement on December 6