Bitcoin mining profitability declined for the fourth consecutive month in November, with average daily block reward gross profit falling 26% month-over-month, JPMorgan analysts reported. Network hashrate retreated 1% to 1,074 exahashes per second after reaching an all-time high in October. The fourteen U.S.-listed miners tracked by the bank saw their combined market capitalization drop 16% to $59 billion.

South Korea's ruling Democratic Party has set a December 10 deadline for the Financial Services Commission to submit a comprehensive stablecoin regulatory framework. Lawmaker Kang Jun-hyeon, secretary of the National Assembly's Financial Services Committee, said the party plans to advance legislation through January if the deadline is met. The initiative aligns with President Lee Jae Myung's policy priority to develop a Korean won-stablecoin market.

The Federal Deposit Insurance Corporation will publish proposed stablecoin oversight regulations under the GENIUS Act before year-end. Acting FDIC Chair Travis Hill said the agency will first establish an application framework for issuers seeking federal supervision this month. A separate proposal on prudential requirements will follow in early 2026.

U.S. prediction market platform Kalshi announced plans to tokenize thousands of event contracts on Solana, aiming to attract crypto-native traders and deepen liquidity. The move intensifies competition with Polymarket as both platforms recorded record volumes in November, with Kalshi reaching $5.8 billion and Polymarket surpassing $3.7 billion.

Ethereum's open interest rose more than 4% after a sharp price decline pushed ETH to the low $2,800 range. The cryptocurrency saw liquidations totaling $158 million, including $140 million from long positions, yet derivatives traders opened fresh positions worth approximately $654 million.

The cryptocurrency market lost $160 billion in value as Bitcoin dropped 4.3% to $86,000, triggering $637 million in liquidations with long positions accounting for 90% of the total. Data show MicroStrategy's market-to-net-asset value fell to 0.97× on November 22, with investors effectively paying less than $1 for each $1 of Bitcoin held by the company.

Japan's government and ruling coalition have endorsed a comprehensive overhaul of cryptocurrency taxation, proposing a uniform 20% rate on digital asset gains. The Financial Services Agency introduced the plan in November and intends to submit legislation to the Diet in early 2026. The reform would align crypto taxation with equities and investment trusts, which currently face the same 20% rate.

The Federal Deposit Insurance Corporation will release a proposed regulatory framework for implementing the GENIUS Act later this month, Acting Chair Travis Hill said. The agency will supervise subsidiaries of FDIC-regulated banks that issue stablecoins. A second proposal covering prudential requirements for payment stablecoin issuers is expected early next year.