Pakistan is betting on blockchain, JPMorgan and Galaxy issued short-term bonds on Solana, and DTCC received SEC approval for the tokenization of key U.S. financial assets — these and other cryptocurrency news for the morning of December 12 in our review
Behavior of cryptocurrencies — capitalization leaders
Bitcoin (BTC), according to TradingView, began Friday with sideways movement. As of 07:27 (MSK), the cryptocurrency is trading at $92,182 (1 token in rubles — ₽7,308,411). The minimum bitcoin price in 24 hours was $89,335, and the maximum was $93,554.
You can track the bitcoin exchange rate in rubles via the link.
The second-largest cryptocurrency by market capitalization, Ethereum, also started the day with sideways movement. At the time of writing, the coin is trading at $3,244 (1 token in rubles — ₽257,069).
In the top 10 cryptocurrencies by market capitalization, the best result over the past day was for Solana (+5.33%), and over the week — for Ethereum (+2.06%). The largest losses in 24 hours were for Cardano (-2.07%), and over seven days — for Dogecoin (-4.96%).
In the top 100 cryptocurrencies by market capitalization, the best result over the past day was recorded by Basic Attention Token (+17.44%), and over the week — by MemeCore (+20.97%). Over the last 24 hours, Sei experienced the most significant price drop (-4.71%). The largest weekly losses were recorded by Kaspa (-14.28%).
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The main cryptocurrency news on the morning of December 12
JPMorgan organized the issuance of short-term bonds for Galaxy Digital on the Solana blockchain, using its own token USCP. The bonds were issued and placed digitally, and the calculations for issuance and redemption were conducted in the USDC stablecoin.
The investors were Coinbase and Franklin Templeton, with Coinbase also responsible for key storage and wallet management.
USCP is a tokenized form of short-term corporate bonds created by JPMorgan specifically for such transactions. For Galaxy, this is the first issuance of short-term bonds in the US, and for the market, one of the first examples where such an instrument is fully conducted through a public blockchain.
Pakistan considers bitcoin, blockchain, and digital assets as the foundation of the country's new financial infrastructure. This was stated by Bilal bin Sakib — chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) and former advisor to the prime minister on blockchain issues — while speaking at the Bitcoin MENA conference in Abu Dhabi.
According to him, digital assets should be viewed not as speculation, but as a basic infrastructure capable of replacing outdated financial models and providing the country with a 'new economic engine'.
Sakib noted that Pakistan is one of the largest unregulated crypto markets in the world, and authorities intend to turn it into a legal and investment-friendly ecosystem. He pointed to the country's young population, active cryptocurrency use, and the government's plans to create a strategic bitcoin reserve, develop regulations, and utilize surplus electricity for mining and data centers.
Earlier, authorities invited international crypto companies to obtain licenses and operate in the country on an official basis.
The U.S. Securities and Exchange Commission (SEC) issued a no-action letter to the subsidiary of DTCC — Depository Trust Company — allowing the launch of a securities tokenization service.
The document means that the regulator will not take enforcement action if the service operates within the stated framework. The decision concerns assets that are already stored and accounted for in the DTCC infrastructure.
As part of the service, DTC will be able to convert shares from the Russell 1000 index, exchange-traded funds (ETFs), as well as U.S. treasury bills, bonds, and notes into a tokenized format. The launch is expected in the second half of 2026.
Tokenized versions of assets will retain the same ownership rights, investor protections, and legal status as traditional securities.
Earlier, BeInCrypto reported that Terra's head Do Kwon was sentenced to 15 years for fraud.
