Crypto Morning Brief: Hassett Hints at Rate Cuts, Stripe to Launch Stablecoin Payment Feature

Author: TechFlow

Yesterday’s Market Updates

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 on Tuesday that he believes the Fed has “ample room” for significant rate cuts. When asked if he would push for the “substantial rate cuts” that Trump wants if appointed, he replied: “If the data shows we can do it—like now—I think there’s absolutely room to do so.”

Pressed further on whether this meant a cut greater than 25 basis points, he answered clearly: “That’s right.” On Tuesday, Trump told Politico that a swift rate cut would be a “litmus test” for his choice of Fed chair. When asked if he would be loyal to Trump or to independent economic judgment if appointed chair, Hassett said: “I’ll stick to my own judgment, and I believe the president trusts my judgment as well.”

US SEC Chair: Multiple Types of Crypto ICOs Are Not Securities Transactions, Will Focus on Tokenized Securities Regulation

According to Decrypt, SEC Chair Paul Atkins stated at the Blockchain Association’s annual policy summit that many types of ICOs should be regarded as non-securities transactions and are therefore not within the SEC’s regulatory scope.

Atkins specifically referenced the token classification framework he introduced last month, dividing the crypto industry into four main token categories. He believes that three of these—network tokens, digital collectibles, and digital utilities—should not be considered securities, and that ICOs related to them should not be treated as securities offerings.

Atkins said, “Three areas fall under the CFTC’s regulatory scope, and we let them handle those; we’ll focus on tokenized securities.” He noted that the only ICO category the SEC should regulate is tokenized securities, meaning representations of SEC-regulated securities trading on-chain.

Hong Kong Government Plans Automatic Exchange of Crypto Asset Tax Information with Partner Jurisdictions from 2028

According to a government press release, Hong Kong is conducting a public consultation on implementing the OECD’s Crypto-Asset Reporting Framework and revised Common Reporting Standard.

The government plans to complete local legislative amendments next year, with the goal of automatically exchanging crypto asset transaction-related tax information with partner jurisdictions starting in 2028, and implementing the revised reporting standard from 2029. Christopher Hui, Secretary for Financial Services and the Treasury, said this demonstrates Hong Kong’s commitment to international tax cooperation and combating cross-border tax evasion, which is crucial to maintaining its international financial center reputation.

The OECD released this framework in 2023, allowing partner tax jurisdictions to automatically exchange crypto transaction tax information annually. Since 2018, Hong Kong has exchanged financial account information with partners under the OECD standard. The public may submit comments on the proposals until February 6, 2026.

TRUMP Meme Coin Announces Mobile Game Launch Early This Morning

According to an official announcement, the TRUMP Meme token X account posted early this morning: “The TRUMP mobile game is coming soon, designed for true Trump fans. Free waitlist now open.”

Stripe’s Stablecoin Payment Feature to Go Live on December 12, Supporting Ethereum, Base, and Polygon Networks

According to RWA.xyz co-founder Adam, payments giant Stripe will launch stablecoin payment functionality for user accounts on December 12. The feature will support USDC and other stablecoins on major blockchains such as Ethereum, Base, and Polygon. Stripe stated that stablecoin payments are fully integrated into its optimized checkout suite, and existing integrations require no code changes.

For fees, stablecoin payments will incur a 1.5% transaction amount fee (in USD), with no fixed fee. All transactions will settle in USD to the user’s existing payment balance.

Stripe and Paradigm Open Tempo Blockchain Public Test, Add Kalshi and UBS as Partners

According to Bloomberg, payments giant Stripe and crypto VC firm Paradigm announced on December 9 that their jointly developed blockchain project Tempo is now open for public testing. Any company interested in developing real-world stablecoin payment applications can participate. Kalshi and UBS (UBS) have also joined as partners. In President Trump’s potential second term, stablecoin market interest has surged, and the White House has established a federal regulatory framework for tokens typically pegged to real-world assets like the US dollar. Stripe is among a growing number of financial institutions, retailers, and startups announcing pilot programs, transactions, or partnerships in this rapidly expanding crypto market sector.

Circle Launches Bank-Grade Privacy Stablecoin USDCx in Partnership with Aleo Blockchain

According to Fortune, Circle and Aleo blockchain have announced the launch of a privacy-enhanced stablecoin, USDCx. This stablecoin will provide users with “bank-grade privacy” protection, making transaction data invisible to the public while retaining compliance records for regulatory review.

Circle Receives Financial Services License from Abu Dhabi Global Market

According to an official statement, Circle Internet Group (NYSE: CRCL) has received a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, allowing it to operate as a money services provider in the international financial center.

At the same time, Circle appointed Dr. Saeeda Jaffar as Managing Director for Middle East and Africa. Dr. Jaffar previously served as Visa’s Senior Vice President and Group Country Manager for the Gulf Cooperation Council, and will lead Circle’s regional strategy, deepen partnerships with financial institutions and enterprises, and accelerate adoption of trusted digital dollars and on-chain payment solutions in the UAE and the wider Middle East and Africa markets.

Circle co-founder and CEO Jeremy Allaire said regulatory clarity is fundamental to building a more open and efficient internet financial system. The license enables Circle to expand regulated payment and settlement use cases for businesses, developers, and financial institutions in the UAE.

Coinbase Reaches Key Partnership with PNC Bank

Coinbase’s Crypto-as-a-Service platform now provides direct bitcoin trading services for PNC Private Bank clients, making PNC the first major US bank to launch such services. The partnership aims to seamlessly integrate digital assets into the traditional financial system.

Meta May Launch New AI Model Avocado Early Next Year

Sources reveal that Meta may release a new large language model, Avocado, in Q1 2026, further competing with Google, OpenAI, and others.

SpaceX Plans IPO at $1.5 Trillion Valuation, Poised to Become Largest IPO Ever

According to Jintou Data citing Bloomberg, SpaceX expects an IPO valuation of around $1.5 trillion, raising well over $30 billion. SpaceX plans an IPO in the second half of 2026, depending on market conditions. The company projects sales of about $15 billion in 2025 and $22–24 billion in 2026. SpaceX’s IPO could become the largest ever.

Market Trends

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