EconoTicker

Colombia’s tax authority DIAN has introduced a new reporting regime that requires crypto-asset service providers (exchanges/intermediaries/custodians) to collect and submit user and transaction data to the government, strengthening oversight of crypto activity for tax purposes. The obligation is set to apply from tax year 2026, with reporting generally due by the last business day of May 2027 for 2026 activity, under Resolution 000240 (Dec. 24, 2025). While framed as a transparency and compliance measure aligned with emerging international standards, it raises practical concerns around data handling, confidentiality, and platform compliance costs.

Market impact: Mildly negative for local trading activity/flows (privacy friction) and for platform margins (higher compliance overhead). Over time, clearer reporting may reduce regulatory uncertainty for institutions, but near-term sentiment can skew cautious—especially for privacy-sensitive traders.

Bitcoin ticked higher in Asian trade on Monday, hovering around $92,000 (spot last around $91,709, intraday high $92,369) as markets stayed cautious amid escalating tensions between President Donald Trump and the Federal Reserve—an overhang that has also pressured the dollar and boosted safe-haven demand in gold. With geopolitics (including Iran-related risk headlines) also in focus and key U.S. data ahead, BTC’s tone looks more “defensive grind” than breakout momentum.

Market impact: BTC holding near $92k suggests crypto risk appetite is resilient, but headline-driven volatility remains elevated; the next directional cue likely comes from U.S. macro/inflation prints and any escalation in the Trump–Fed legal/political standoff.

Crypto price action tilted risk-on in majors and large alts: Ether (ETH) climbed about 2% to $3,160.47 (market feeds around $3,149), while XRP eased 0.6%. Solana (SOL) outperformed with a 5% jump, Cardano (ADA) gained 2%, and BNB lagged, down 0.6%. In meme coins, Dogecoin added 0.5%, while $TRUMP rose 0.7%, underscoring continued speculative appetite at the tail end of the risk curve.

Market impact: Positive for overall crypto risk sentiment (especially high-beta alts). If momentum holds, it can tighten crypto credit spreads and support crypto-linked equities; a fast fade would signal positioning-driven flow rather than a durable trend.

Broader crypto prices were mostly positive and outperformed Bitcoin, with XRP up about 11% on reports of stronger spot-ETF inflows alongside declining exchange-held supply—a setup that can mechanically amplify upside when demand picks up. Ether rose nearly 4% to $3,289.47, BNB gained ~2%, while Solana and Cardano jumped over 5%. Among memecoins, Dogecoin added 3.8% and $TRUMP rose 1.5%, reinforcing a risk-on tilt concentrated in higher-beta tokens.

Market impact: Supportive for near-term crypto risk appetite and altcoin beta, but the move remains flow-driven—watch ETF flow persistence and any reversal in exchange balances for signs the rally is exhausting.

Morgan Stanley Investment Management filed initial registration statements (S-1s) with the SEC on Tuesday for two spot crypto products—the Morgan Stanley Bitcoin Trust and Morgan Stanley Solana Trust—positioning the firm to offer regulated exposure to BTC and SOL via exchange-traded vehicles. The Solana filing also contemplates reflecting staking rewards, while key listing mechanics (exchange venue and related 19b-4 steps) typically come later—meaning timing remains contingent on the SEC review process.

Market impact: Supportive for BTC/SOL sentiment and the “institutionalization” narrative—an approval path could broaden access and strengthen inflow expectations, but near-term price impact depends on SEC timelines and remains vulnerable to macro-driven volatility.

Bitcoin was little changed at around $93,925 in late-morning U.S. trading, holding near the $93k area after ending 2025 down more than 6%. Price action remains range-bound as markets digest shifting rate expectations and risk sentiment, with bitcoin increasingly trading like a macro-sensitive risk asset rather than a purely idiosyncratic crypto story.

Market impact: Neutral near-term—stability around the mid-$90k zone reduces immediate liquidation risk, but direction likely hinges on U.S. yields, USD moves, and broader risk appetite; volatility can re-accelerate quickly on policy headlines or large-flow events.

Strategy (MSTR), the largest corporate holder of bitcoin, disclosed a $17.44B unrealized loss on digital assets in Q4 2025, reflecting the drop in the value of its crypto holdings through 2025. For the full year 2025, it reported a $5.40B unrealized loss, with the stock down about 47.5% over the year. The firm also said it held $2.25B in U.S. dollar reserves as of Jan. 4, 2026, to support preferred dividends and debt interest payments.

Market impact: Negative for MSTR sentiment at the margin—reinforces earnings volatility and balance-sheet sensitivity to BTC, while spillover to broader crypto is usually limited unless it triggers funding/liquidity stress across “bitcoin-proxy” corporates.

XRP rallied about 12%, lifting it to its highest level since mid-November and briefly pushing spot pricing toward ~$2.40–$2.41 as liquidity returned to large-cap altcoins. The move extends a run of relative strength versus the broader market and is being linked to continued spot XRP ETF inflows and improving expectations around the U.S. regulatory backdrop—factors that can amplify momentum when positioning is light and volatility rises.

Market impact: Supportive for near-term crypto risk appetite and altcoin beta, but the move is prone to sharp retracements; sustained upside likely requires ongoing ETF inflows and a steady macro backdrop (rates/USD).

Japan’s finance minister Satsuki Katayama said the government supports integrating cryptocurrency trading through regulated stock and commodity exchanges, marking a notable step toward bringing digital assets further inside traditional market infrastructure. The comments come as Japan continues to refine its crypto framework—seeking tighter “regulated rails” even while exploring broader participation and product access for households and institutional investors.

Market impact: Constructive for Japan-listed crypto/fintech infrastructure themes and could marginally support crypto sentiment via perceived regulatory legitimization; near-term market response will still hinge on implementation details (product scope, custody, investor protections) and how authorities balance innovation with tighter oversight.

Bitcoin dipped 0.3% to $93,772.04, while ether fell 0.4% to $3,225.96, pointing to a mild pullback amid broader consolidation after recent gains. The move looks more like routine positioning and profit-taking than a clear risk-off impulse, with traders still anchored to the cross-currents of U.S. rate expectations, dollar direction, and risk appetite.

Market impact: Mildly negative for crypto sentiment at the margin, but not a trend signal on its own. A softer USD and easing rate expectations are typically supportive for crypto, while renewed USD strength or higher real yields can cap upside.

China’s central bank will roll out an upgraded e-CNY framework effective January 1, 2026, allowing commercial banks to treat eligible digital-yuan wallet balances as deposit liabilities, pay interest in line with deposit-rate rules, and extend deposit-insurance protection—moving the CBDC beyond a cash-like instrument toward “digital deposit money.” As of end-November 2025, cumulative e-CNY transactions reached 3.48 billion worth 16.7 trillion yuan (~$2.37 trillion). In parallel, authorities have signaled wider cross-border use, including a mainland–Singapore pilot and CBDC-based cross-border payment promotion with partners including Saudi Arabia (among others).

Market impact: Mildly positive for e-CNY adoption and the RMB internationalisation narrative; potentially a marginal competitive headwind for incumbent wallet ecosystems (WeChat Pay/Alipay) at the margin, while near-term market pricing impact is likely limited unless cross-border volumes scale meaningfully.

Crypto losses widened beyond Bitcoin, with major altcoins tracking the risk-off move across the complex. Ether fell 6.33% to $2,922.06, while XRP slid nearly 6% to $1.8817. Solana and Cardano dropped 4.2% and 5.7%, respectively, and BNB fell 3.7%. Meme tokens also weakened, with Dogecoin down 5.7% and $TRUMP lower by 4.2%.

Market impact: Negative for overall crypto sentiment and high-beta tokens; elevated volatility likely as traders de-risk, with liquidity-sensitive altcoins typically underperforming during broad drawdowns.