The European Union's digital asset tax transparency law, known as DAC8, will take effect on January 1, 2026, mandating crypto service providers to collect and report user transaction data. This aligns with the EU's Crypto Asset Markets (MiCA) regulations, although they operate independently. Meanwhile, the UK will require cryptocurrency exchanges to report transaction records of UK customers starting the same day, as part of new HMRC regulations. In Hong Kong, the Monetary Authority will implement Basel capital requirements for crypto assets on January 1, 2026, setting a high-risk weight for crypto exposures. This move is expected to deter banks from holding such assets due to stringent capital requirements. Additionally, significant token unlocks are scheduled, including Hyperliquid (HYPE) unlocking approximately $256 million worth of tokens on December 29, and Sui (SUI) unlocking $63.4 million worth of tokens on January 1, 2026. These events are part of a broader trend of token unlocks impacting the crypto market.