Publisher’s Note: Beginning this week, Decentralized Diaries follows a streamlined 10-story format and new opener structure to deliver a sharper, more focused look at the most important developments across crypto, blockchain, and digital assets. CLT
Crypto markets steadied this week after a volatile November, but most of the real movement happened outside price charts. Regulators advanced new frameworks, major fintechs pushed further into stablecoins, national governments expanded digital-asset laws, and global exchanges weighed in on tokenized securities. The landscape continues shifting toward payments, compliance and institutional infrastructure—even as traders reacted to fast swings in Bitcoin and the larger market.
Bitcoin is at $91,615 (as of 11/28/25)
BTC climbed back toward the low-$90Ks after dipping into the high-$80Ks earlier in the week. November’s drawdown was steep, but funding and leverage have normalized as markets digest macro pressure. Ethereum hovered just below $3,000 as inflows into spot ETH products picked up again, and Solana held most of its 2025 gains despite choppy DeFi rotations.
Top 10 Crypto, Blockchain & Regulation Stories This Week
1. Singapore Exchange Launches Bitcoin and Ethereum Perpetual Futures
Singapore Exchange introduced new perpetual futures tied to BTC and ETH, giving institutions a way to get regulated crypto exposure within traditional derivatives infrastructure. The launch strengthens Asia’s role in global digital-asset trading and provides hedging tools that integrate with ETF flows and institutional strategies.
2. BlackRock Expands Its Ethereum Footprint With Staked ETH Trust
BlackRock established the iShares Staked Ethereum Trust, signaling its shift toward yield-enabled Ethereum products. With investors increasingly seeking staking returns rather than simple price exposure, the trust sets the stage for the next generation of institutional-grade ETH vehicles and deepens Wall Street’s involvement in Ethereum’s broader ecosystem.
3. 21Shares Debuts Two U.S. Crypto Index ETFs
21Shares rolled out its first U.S. crypto index ETFs: a top-10 crypto basket and an “ex-Bitcoin” version aimed at investors who want diversified exposure without concentrating in BTC. The funds give advisers and institutions a regulated way to allocate to multi-asset crypto portfolios without navigating individual token risk.
4. Klarna Introduces KlarnaUSD Stablecoin for Rewards and Payments
Fintech giant Klarna launched KlarnaUSD, a dollar-backed stablecoin integrated into its rewards and micro-payments ecosystem. The token operates behind the scenes—supporting tipping, creator payouts and small transactions—without requiring users to “use crypto.” Klarna’s move positions stablecoins as invisible payment rails rather than speculative assets.
5. Australia Expands Digital-Asset Rules Under Updated ASIC Guidance
Australia’s securities regulator expanded its oversight of digital assets, officially categorizing stablecoins, wrapped tokens and tokenized financial assets as regulated instruments. The update signals a shift toward bringing many crypto-related products under existing financial-product rules and gives exchanges a transition period to pursue licensing or compliance pathways.
6. Canada’s Budget Establishes a National Stablecoin Framework
Canada introduced a federal regulatory structure for fiat-backed stablecoins, giving the Bank of Canada direct supervisory authority. Issuers will be required to maintain high-quality reserves, meet redemption guarantees, and follow strict risk-management standards. The move positions regulated stablecoins as part of the country’s broader modernization of real-time payments.
7. Global Exchanges Warn the SEC on Tokenized-Stock Platforms
The World Federation of Exchanges and several major trading venues urged the SEC not to exempt tokenized-stock platforms from traditional exchange rules. Their message: tokenized equities still function like securities, and allowing alternative venues to operate outside established frameworks could undermine market integrity and investor protections.
8. Turkmenistan Legalizes and Licenses Crypto Mining and Exchanges
Turkmenistan enacted a national digital-assets law that formally legalizes cryptocurrency mining and trading under a state-run licensing model. Operators must use dedicated national data centers and comply with strict monitoring, illustrating how energy-rich countries are increasingly using mining and digital-asset services as state-directed revenue streams.
9. USD1 Stablecoin Expands Across Solana With Major DeFi Integrations
World Liberty’s USD1 stablecoin accelerated its push into the Solana ecosystem through integrations with major DeFi platforms, new liquidity pools and incentives to deepen trading volume. Backed by U.S. money-market assets and positioned as an institutional-friendly option, USD1 aims to challenge USDC’s dominance across Solana’s payments and trading rails.
10. USD1 Adds Multi-Chain Capability Through Chainlink’s CCIP
USD1 also became operable across additional networks using Chainlink’s cross-chain protocol, enabling movement between Ethereum, BNB Chain and Solana without relying on traditional bridges. The strategy is designed to support institutional workflows, tokenized-asset settlements and interoperable DeFi use cases that require a single, portable settlement token.
What This Week Means
The real movement this week wasn’t in token prices—it was in the framework forming around them. Regulators sharpened rulebooks, exchanges stepped into policy debates, and fintech platforms leaned harder into stablecoin payments. Institutions also kept laying down the next layer of market infrastructure, from index ETFs to cross-chain settlement tools.
Macro uncertainty still hangs over December, but the trajectory has shifted: crypto is moving out of the speculation bucket and into the operational backbone of global finance.
