The U.S. Internal Revenue Service announced Monday a new safe harbor permitting crypto exchange-traded products to stake digital assets and pass staking rewards to investors. The guidance removes tax compliance barriers that previously prevented regulated trusts from offering staking yields on proof-of-stake networks like Ethereum.

Senators John Boozman and Cory Booker released a bipartisan discussion draft on November 11, 2025, that would transfer primary cryptocurrency oversight from the SEC to the CFTC. Most digital assets including Bitcoin and Ethereum would be classified as digital commodities under the proposal. The plan introduces new registration requirements and disclosure obligations, though lawmakers remain divided over DeFi regulations and the CFTC's capacity to regulate a trillion-dollar market.

Coinbase launched a token sales platform for U.S. retail investors on November 10, marking its first public offering initiative since 2018. The platform debuts with Monad, a layer-1 blockchain project conducting a sale from November 17 to 22 that distributes 7.5% of its token supply. The exchange plans to host approximately one token sale monthly, governed by an allocation algorithm that penalizes participants who sell tokens within 30 days of listing by reducing their allocations in subsequent sales.

The Internal Revenue Service issued guidance on Monday establishing a safe harbor framework that allows exchange-traded products to stake digital assets. Treasury Secretary Scott Bessent said the guidance provides ETPs with a clear pathway to stake digital assets and distribute staking rewards to retail investors.

The Bank of England announced stablecoin regulations on November 10, 2025, mandating issuers allocate up to 60% of reserves in short-term UK government bonds and at least 40% in central bank deposits. Individual holdings are capped at £20,000, while corporate entities face a £10 million limit. The rules aim to strengthen financial stability in the UK's digital asset sector ahead of implementation in 2026.

The U.S. Commodity Futures Trading Commission plans to authorize leveraged spot cryptocurrency trading on regulated domestic exchanges by December 2025. Acting Chair Caroline Pham confirmed the agency is in active discussions with major platforms including CME Group, Cboe Futures Exchange, and Coinbase Derivatives. The products will operate under existing commodities law oversight, focusing on Bitcoin and Ethereum.

Federal Reserve Governor Stephen Miran stated on November 10, 2025, that he supports a 50 basis point interest rate reduction at the December FOMC meeting. Miran argued the economy requires faster monetary relief to prevent a slowdown. This marks his third consecutive call for a half-point cut after dissenting against 25 basis point reductions in September and October.

UBS has raised its S&P 500 forecast to 7,500 by the end of 2026, driven by expected earnings growth concentrated in the technology sector. The bank projects 14.4% earnings expansion for 2026, with nearly half coming from AI-focused companies including Nvidia and Microsoft. Citi separately increased its Nvidia price target to $220 ahead of the company's November 19 earnings report.