Senate Banking Committee Chair Tim Scott said Tuesday he plans to advance crypto market structure legislation through committee votes by December. The Republican senator aims to bring the bill to the Senate floor in early 2026, requiring bipartisan support for passage. The legislation addresses regulatory jurisdiction between the SEC and CFTC over digital assets.

The United Arab Emirates enacted Federal-Decree Law No. 6 of 2025 on September 16, replacing the 2018 banking framework with expanded licensing requirements that apply nationwide, including free zones. Legal analysts note the regulation extends to self-custody wallet providers and blockchain infrastructure services. Unlicensed financial activity now carries penalties ranging from AED 50,000 to AED 500M, with potential criminal charges under Article 170.

Kraken is in advanced talks to raise $200 million to $300 million from a strategic investor at a $20 billion valuation. The U.S. crypto exchange closed a $500 million round at $15 billion valuation in early 2025. The company is targeting a public offering in early 2026.

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on November 18, 2025, allowing national banks to hold native cryptocurrency assets specifically for paying blockchain network fees. Banks may maintain tokens such as ETH when required for operational activities including transaction validation and custody services. The guidance aims to reduce reliance on third-party fee payment providers and streamline blockchain-related banking operations.

New Hampshire's Business Finance Authority approved a $100 million municipal bond collateralized by Bitcoin on November 19, 2025, according to the agency. BitGo serves as custodian for the collateral. The issuance marks the first U.S. state-level bond backed by cryptocurrency, incorporating automatic liquidation if Bitcoin's value falls below 130% of face value.

Senator Todd Young has urged Treasury Secretary and Acting IRS Commissioner Scott Bessent to revise the 2023 regulations on staking reward taxation. The current framework taxes unrealized gains, creating burdens on cryptocurrency holders. The IRS issued Revenue Procedure 2025-31 on November 10, 2025, allowing institutional crypto trusts and ETFs to stake assets while maintaining tax benefits, but individual holders remain subject to taxation on unsold rewards.

The Office of the Comptroller of the Currency issued interpretive guidance on November 18, 2025, permitting national banks to hold digital assets on balance sheets for blockchain network fee payments. The agency confirmed banks may retain cryptocurrencies for testing crypto-related platforms and facilitating permissible activities. The guidance marks a departure from restrictions implemented during the Biden administration.

The Office of the Comptroller of the Currency has authorized U.S. national banks to hold Bitcoin, Ethereum, Solana, and XRP on their balance sheets for operational purposes. Banks may now use these digital assets to pay blockchain network fees and interact directly with decentralized protocols without relying on third-party intermediaries. The ruling allows institutions to deploy cryptocurrencies in activities including internal blockchain pilots, settlement infrastructure, and smart-contract payment systems.