GM. The UK’s financial watchdog made pound-backed stablecoins a 2026 priority, opening a sandbox for firms to test sterling payment systems under new fintech reforms.

Gemini wins a long-awaited CFTC license for prediction markets, Tom Lee’s BitMine adds $112 million in Ethereum, and Bhutan debuts a gold-backed token on Solana.

Here are the stories closing out crypto’s week. 👇

UK Watchdog Makes Pound Stablecoin a 2026 Priority

The UK Financial Conduct Authority has named pound-denominated stablecoin payments a 2026 priority, integrating them into its 50 planned reforms. The agency will open a dedicated regulatory sandbox to let firms test sterling-backed stablecoin products ahead of new digital-asset legislation.

In a letter to Prime Minister Keir Starmer, the FCA said the initiative supports faster, cheaper payments and cements London’s fintech leadership. The sandbox will operate under the FCA’s digital innovation framework, offering regulatory guidance on compliance, stability and consumer-protection standards for token issuers.

Applicants have until January 18, 2026, to join the testing environment, which forms part of the UK’s financial modernization agenda. The reforms aim to boost competitiveness by easing access to capital, accelerating AI adoption, and reducing regulatory friction for fintech firms.

Neighboring jurisdictions such as Guernsey are moving in parallel, unveiling consultations on tokenization, custody, and fully backed stablecoin frameworks. FCA Chief Executive Nikhil Rathi said the UK’s program reflects “a bolder risk appetite” to drive innovation while maintaining standards for governance and integrity.

Gemini Wins CFTC License for Prediction Markets

Gemini has secured approval from the Commodity Futures Trading Commission to offer regulated prediction markets in the United States. The exchange’s affiliate, Gemini Titan, received a Designated Contract Market license after a five-year application process. CEO Tyler Winklevoss credited the Trump administration for supporting digital asset regulation and ending what he called a “war on crypto.”

The license enables Gemini customers to trade event contracts on topics like Bitcoin’s year-end price or policy outcomes. Gemini joins competitors Kalshi and Polymarket in a fast-growing market segment recently opened to US participants. The company also plans to pursue futures, options, and perpetual contracts, expanding its derivatives business under CFTC oversight.

Tom Lee’s BitMine Adds $112 Million in Ethereum

Tom Lee’s firm BitMine has reportedly added $112 million worth of Ethereum to its corporate treasury this week. Blockchain data from Arkham shows the purchase of 33,504 ETH through FalconX, though BitMine has not confirmed the transaction. The company remains the world’s largest Ethereum holder and continues buying aggressively to reach 5% of total ETH supply.

Lee reiterated his forecast that Ethereum’s price bottomed near $2,500 and could rise to $7,000 by January. He cited macroeconomic factors like the ISM Index climbing above 50 and anticipated monetary policy shifts. Despite temporary market weakness following a Federal Reserve rate cut, Lee maintains that both Bitcoin and Ethereum will begin a new supercycle in early 2026.

Bhutan Launches Gold-Backed Sovereign Token on Solana

Bhutan has issued a gold-backed token called TER on Solana as part of its blockchain integration strategy. Gelephu Mindfulness City developed the project with DK Bank acting as custodian and Matrixdock providing tokenization infrastructure. Each TER token represents physical gold held under state custody and is initially available only to domestic buyers.

Officials said the gold token launch aligns Bhutan’s sustainability principles with modern financial innovation and supports the kingdom’s crypto-friendly image. The country holds 5,984 Bitcoin valued at $536 million and continues expanding its digital ecosystem. Partnerships with Binance Pay, Ethereum’s identity infrastructure, and hydro-powered mining demonstrate Bhutan’s plan to merge blockchain and sovereign finance.

Data of the day

New Bitcoin treasury adoptions dropped considerably in the fourth quarter as smaller firms paused purchases amid market volatility. Data from CryptoQuant shows only nine companies added Bitcoin during the period, down from 53 in the previous quarter. Despite slowing participation, larger entities continue expanding their holdings and now control over 4.7% of Bitcoin’s total supply.

Strategy remains the largest corporate holder, buying $962 million of Bitcoin this week to reach $21.47 billion in 2025. Additional 1.49 million Bitcoin sits in spot exchange-traded funds, reinforcing institutional dominance in accumulation trends. Analysts note that Ether treasury investments fell by 81% this quarter as digital asset treasuries cut exposure across volatile markets.

More breaking news

• dYdX Labs launched spot trading with Solana, opening access to US traders for the first time as it expands beyond perpetual contracts.

• Belarus blocked major crypto exchanges including Bybit, OKX, and Bitget while Russia prepared to loosen access for qualified high-net-worth investors.

• Coinbase selected Chainlink’s CCIP as its exclusive bridge for wrapped assets, enabling multi-chain expansion for cbBTC, cbETH, and other tokenized holdings.

• Trust Wallet integrated Revolut to let European users buy Bitcoin, Ether, and Solana with local currencies and zero-fee crypto purchases.

• Binance added an API endpoint referencing “TradFi-Perps,” hinting at potential 24/7 stock perpetual futures as exchanges target traditional equity markets.

• Galaxy announced a new Abu Dhabi office under the ADGM framework, expanding its Middle East presence and reinforcing partnerships across regional digital asset markets.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.

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