The Federal Reserve faces an 87.6% probability of cutting rates by 25 basis points in December, CME FedWatch Tool data show, up from 87.4% the previous day. The likelihood of rates holding steady stands at 12.4%. The data reflect market expectations as of Dec. 2.

The Federal Deposit Insurance Corporation will propose initial implementation rules for the GENIUS Act by the end of December, FDIC acting chair Travis Hill said in prepared remarks for a House Financial Services Committee hearing on Tuesday. The agency has begun drafting rules to establish an application framework for stablecoin issuers and intends to introduce prudential requirements for payment stablecoin issuers under FDIC supervision in early 2026. The FDIC is also developing guidance on the regulatory status of tokenized deposits, following recommendations from the Presidential Working Group on Digital Asset Markets.

U.S. Securities and Exchange Commission Chair Paul Atkins will ring the opening bell at the New York Stock Exchange at 9:15 a.m. ET on Dec. 2, followed by a speech at 10:00 a.m. ET titled "Revitalizing American Capital Markets at the 250th Anniversary," according to an official announcement. The address will outline his vision for strengthening U.S. capital markets and laying foundations for the next century. Atkins will detail specific initiatives the SEC is currently implementing to advance this agenda.

Europol announced Monday that a coordinated operation in Zurich dismantled Cryptomixer, a cryptocurrency mixing service allegedly used to launder illicit Bitcoin, Coindesk reports. The takedown, conducted from Nov. 24 to 28 by Swiss and German police with Europol coordination, resulted in the seizure of three servers, the Cryptomixer.io domain, Bitcoin worth over €25 million (approximately $29 million), and more than 12 terabytes of data. Officials said Cryptomixer had facilitated the laundering of over €1.3 billion in Bitcoin since 2016, with its extended settlement windows and randomized fund distribution patterns making it an ideal tool for concealing criminal proceeds.

Bitnomial is set to become the first derivatives trading platform in the United States to offer spot cryptocurrency trading, Crypto In America reports. The platform submitted a self-certification filing in November under CFTC Rule 40.6(a), which allows registered Designated Contract Markets (DCMs) to implement new rules after demonstrating compliance with the Commodity Exchange Act (CEA). The self-certified rules cover the listing of "spot" products, including retail leveraged spot transactions under Section 2(c)(2)(D) of the CEA, enabling customers to directly buy, sell, and finance digital assets on the exchange. The rules took effect on Friday following the November 13 filing, with spot trading potentially launching in the coming days.

Federal Reserve Chair Jerome Powell is scheduled to speak at a Stanford University event honoring the late George Shultz on Monday, though he will not address economic topics due to the Fed's pre-meeting blackout period, BlockBeats reports on Dec. 1. Traders currently price in close to a 90% probability of another 25 basis point rate reduction at next Wednesday's policy decision. Should the cut materialize, market participants will focus on the updated dot plot for signals on the 2025 rate trajectory.

HashKey Holdings, a Hong Kong virtual asset trading platform, passed its listing hearing at the Hong Kong Stock Exchange on Dec. 1, with JPMorgan serving as joint sponsor, BlockBeats reports. The company holds licenses across multiple jurisdictions and has recorded cumulative spot trading volume exceeding HK$1.3 trillion, with staked assets of approximately HK$29 billion. BiyaPay currently supports USDT-based trading of U.S. stocks, Hong Kong stocks, and futures, and will enable users to trade HashKey shares once the listing is completed.

More than 270 former users of Tokenize Xchange filed a lawsuit against founder Hong Qi Yu and his wife Erin Koo seeking $60.5 million in damages for alleged fraudulent misappropriation of customer assets, techinasia reports. The Singapore-based crypto platform, operated by AmazingTech, ceased operations in July 2025 after the Monetary Authority of Singapore denied it a digital payment token license. Court-appointed interim judicial managers reported AmazingTech owes clients approximately $266.3 million while holding only about $2.6 million in assets, with the lawsuit alleging Hong and Koo are responsible for the funding shortfall.