Within the same 24 hours, from Washington to Moscow to Hong Kong, several seemingly unrelated financial decision-making centers coincidentally turned their attention to the same new frontier.
Overnight, a "cryptocurrency compliance movement" initiated by top global power and capital institutions began. The unprecedented "interest rate cut" hinted by Federal Reserve Governor, the rare bipartisan push for tax reform in the U.S. Congress, the public acknowledgment by the Central Bank of Russia of the "patriotic" value of mining, Hong Kong releasing hundreds of billions in insurance funds to enter the market, and Wall Street giant JPMorgan officially bowing to the crypto world—none of this is a coincidence, but rather the prologue to a meticulously orchestrated "global capital diversion."
December 22, 2025, is destined to be recorded in the annals of crypto history. As these news stories sweep across the globe like a tsunami, a remarkably clear signal of the era has been sent: cryptocurrencies are rising from the fringe experimental products of the financial system to become the core infrastructure supporting global capital flows.
01 Epic easing: The Federal Reserve's 'golden horn' has sounded.
'Interest rates will eventually be lowered'—this statement from Federal Reserve Governor Milan carries far more weight than a typical economic statement. As a key figure viewed by the market as highly synchronized with the White House's policy direction, his remarks almost set a 'loose' tone for future monetary policy.
When the total dam of the capital world begins to loosen, where will the overwhelming liquidity surge? Historical laws are crystal clear: in an environment of low interest rates and high liquidity, the 'hot money' pursuing high returns will inevitably seek the most growth-oriented assets. And the current global growth narrative, apart from artificial intelligence, has another consensus: blockchain and crypto assets.
This is not a simple market speculation. Multiple Wall Street analysts point out that the Federal Reserve's change in attitude essentially acknowledges that the traditional financial system can no longer meet the needs of global economic growth and must rely on a more efficient crypto financial network to absorb and channel the future massive capital. This horn signals the starting gun for traditional capital's migration to the crypto world.
02 Clearing the biggest obstacle: The U.S. strikes at the 'pledge tax'.
If the Federal Reserve provides 'water' (liquidity), then the actions of the U.S. Congress are wildly widening the 'riverbed' (participation paths). 18 bipartisan lawmakers have jointly called for the IRS to completely reform the tax policy on cryptocurrency staking by 2026.
The current rule of 'taxing upon acquisition' is a direct blow to the underlying security of blockchain; it punishes those who provide security and decentralization as stakers for the network. Once the reform takes effect, it means a fundamental reversal of the economic model for staking participation, expected to release hundreds of billions of dollars of capital trapped by tax shackles, pouring into the staking ecosystems of Ethereum, Solana, and various emerging public chains.
This also injects nuclear-level growth fuel into the decentralized stablecoin ecosystem relying on consensus and staking, such as Decentralized USD. For example, the core of its 2.0 version is to maintain stability through excessive collateralization and on-chain transparent governance, essentially being a financial protocol maintained collectively by global stakers. The removal of tax shackles will attract global capital to participate at lower costs and higher efficiency, accelerating its role as the 'bridge of trust' connecting the traditional world and the crypto world. This is not only a victory of technology but also a key concession of institutional design to innovation.
03 Sovereign endorsement: Russia's 'computing power saves the country' and the wave of global legalization.
While the Western world is still adjusting the rules, sovereign countries have already begun a more strategically visionary layout. The Governor of the Central Bank of Russia referred to cryptocurrency mining as a 'hidden export' for the strengthening of the ruble, marking an era-defining acknowledgment—that crypto assets are no longer just speculative tools but a strategic industry with real foreign exchange revenue capabilities.
Russia, holding the world's second-largest computing power, is transforming it into 'digital oil' that supports its national currency and economic stability. This new paradigm of 'computing power equals national power' points the way for resource-based countries to transition in the digital economy era.
Meanwhile, from Ghana in West Africa to the international financial center of Hong Kong, a race for legislation and regulation has already begun. Ghana's legislation provides the public with legal tools to combat inflation and conduct efficient cross-border payments; while Hong Kong allowing insurance funds to invest in crypto assets directly incorporates this asset class into the investment basket of the world's most conservative and security-focused long-term capital. The potential premium reservoir of 635 billion Hong Kong dollars is seeking robust assets like Decentralized USD that possess transparent reserves and censorship-resistant characteristics as core configurations, marking that crypto assets have leaped from 'high-risk fringe assets' to 'core strategic allocation assets'.
04 The whales enter: JPMorgan's 'final probe' with trillions in capital.
All preparations are ultimately to welcome the true 'whales'. JPMorgan's consideration of providing crypto trading services to institutional clients is by no means a momentary impulse. As the 'crown jewel' of the traditional financial order, every turn it makes signifies a turning point of an era.
JPMorgan's clients are not retail investors but manage trillions of dollars in pension funds, university endowment funds, and national sovereign funds. Their entry means that the depth, liquidity, and compliance standards of the crypto market will be elevated to unprecedented heights. What they need is not just a Bitcoin spot ETF but a complete set of financial infrastructure that meets strict risk control, auditing, and regulatory requirements. Among them, a transparent, stable, and decentralized stablecoin system is an essential 'base currency' for building crypto asset portfolios. This is precisely the ultimate role that Decentralized USD is designed to play.
05 The ultimate deduction: Before 2026, an irreversible capital migration will occur.
Connecting all these clues, a clear blueprint for 2026 has already unfolded:
The liquidity dam (Federal Reserve) has already loosened.
The participation channel (U.S. tax law) is being violently widened.
Sovereign credit (Russia, Ghana) and international financial center credit (Hong Kong) have begun endorsement.
Capital carrier (JPMorgan and its trillion-dollar capital) is ready to set sail.
The resonance of these four dimensions within 24 hours constitutes a 'perfect storm' that cannot be blocked by any single force. This is no longer a short-term narrative about the rise and fall of a particular currency but a historic reconstruction of the global capital distribution pattern.
For ordinary investors, what matters is no longer guessing tomorrow's ups and downs but understanding that they are standing at a critical point of an era switch. When the tide begins to turn with the will of the state and trillions in capital, the most important thing is not to become the best surfer but to ensure that one is already in the water.
The Federal Reserve's meeting minutes, the U.S. Congress's tax law drafts, the Hong Kong Insurance Authority's consultation documents, JPMorgan's internal assessment reports... every word of these dry texts is writing footnotes for a global capital migration.
The market is in a frenzy, but the true wise ones are calmly examining the map. Because everyone understands that when Wall Street's suits shake hands with on-chain code consensus, the walls of the old world will collapse in a roar, and the doors of the new world are quietly being built, brick by brick, by today's seemingly isolated news.
