House Republicans released a 51-page report on December 1 detailing banking access challenges faced by at least 30 digital asset entities between 2022 and 2024. The documentation includes FDIC pause letters sent to approximately 24 banks and Federal Reserve guidance requiring pre-approval for crypto activities. The Trump Administration has since reversed these policies through multiple regulatory actions beginning January 2025.

The U.S. House Financial Services Committee released a 53-page report on December 1, 2025, alleging that Biden Administration regulators attempted to exclude cryptocurrency firms from the banking system. Republicans claim the Federal Reserve, FDIC, OCC, and SEC coordinated policies to discourage banks from serving digital asset companies. The report labels these efforts "Operation Choke Point 2.0" and asserts they occurred while Congress worked to establish regulatory clarity for the sector.

First Digital Group, the Hong Kong-based issuer of the FDUSD stablecoin, plans to go public on the New York Stock Exchange through a merger with CSLM Digital Asset Acquisition Corp III. The SPAC raised $230 million in its August IPO on Nasdaq, with merger terms currently under negotiation.

South Korean lawmakers have set a December 10 deadline for regulators to submit a draft stablecoin bill. If the Financial Services Commission fails to deliver, legislators plan to advance independent legislation. The debate centers on whether banks or technology firms should lead issuance of won-pegged stablecoins.

Chicago-based exchange Bitnomial has secured regulatory approval from the Commodity Futures Trading Commission to launch spot cryptocurrency trading. The platform becomes the first U.S. derivatives exchange authorized to offer regulated spot crypto products, with services including retail leveraged trading capabilities. CFTC Acting Chair Caroline Pham indicated new products are expected to commence trading before year-end, with the platform's full launch scheduled for November 2025.

The People's Bank of China convened 13 government agencies on November 28, 2025, to coordinate enforcement against resurgent virtual asset speculation. Officials identified stablecoins as tools for money laundering and illegal cross-border fund transfers, reiterating that cryptocurrencies hold no legal tender status in China. Hong Kong-listed crypto-exposed firms fell sharply following the announcement, with Yunfeng Financial Group dropping over 10%.

Israel is preparing stricter regulatory supervision of stablecoins as the Bank of Israel integrates them into the national payments framework. Governor Amir Yaron outlined heightened oversight requirements at a Tel Aviv conference, citing stablecoin market capitalization exceeding $300 billion and monthly transaction volumes surpassing $2 trillion. The central bank will release digital shekel recommendations by year-end, with a 2026 roadmap for implementation.

A whale known as the "1011 Flash Crash Shorter Insider Whale" borrowed 220 million USDT from Aave and transferred the funds to Binance through three addresses on December 1, 2025. The entity controls over 500 million USD in on-chain assets and previously profited from margin trades during the October 11 flash crash. The transfer has raised questions about potential market impacts on Bitcoin and Ethereum.