Uzbekistan will launch a regulatory sandbox on January 1, 2026, allowing stablecoin-based payments and issuance of tokenized stocks and bonds under supervised conditions. The National Agency for Perspective Projects and the central bank will manage the framework to test digital payment systems while maintaining strict oversight. Licensed entities will be authorized to issue tokenized equities and bonds, with stock exchanges preparing dedicated platforms for these digital securities.

The U.S. Securities and Exchange Commission issued a no-action letter to Fuse, a Solana-based decentralized physical infrastructure network, confirming it will not recommend enforcement action against FUSE token sales under specified conditions. The letter stipulates tokens must be distributed exclusively as rewards for network infrastructure maintenance and may only be redeemed through third-party venues at market rates. Separately, Kevin Hassett has emerged as a leading candidate to replace Jerome Powell as Federal Reserve chair, with sources indicating his openness to digital asset innovation.

The Crypto Fear & Greed Index stands at 20 even as total cryptocurrency market capitalization has climbed back above $3 trillion. The reading shows modest improvement from the prior week's extreme fear level of 11. Investor sentiment continues to trail behind the recent price stabilization seen across major digital assets.

A Goldman Sachs survey conducted between November 12 and November 14 shows that institutional investors expect gold prices to reach $5,000 per ounce by the end of 2026. Among more than 900 institutional clients, 36% anticipate prices will surpass that level, while 33% project a range between $4,500 and $5,000. Gold has gained 58.6% year-to-date and crossed $4,000 per ounce for the first time on October 8.

BitMEX co-founder Arthur Hayes predicts equity price discovery will transition to crypto-style perpetual futures by the end of 2026. SGX in Singapore and CBOE in the U.S. plan to launch perpetual contracts by end-2025, while Coinbase listed a retail version earlier in 2025. Hayes says legacy derivatives exchanges are now adopting the perpetual model BitMEX pioneered in 2016 with 100x leverage.

The International Monetary Fund has warned that tokenized financial markets may experience heightened volatility as automation accelerates settlement processes. The institution highlighted potential flash-crash scenarios driven by instant execution mechanisms. Early modeling suggests asset-management costs could decline by up to 20%, though speed-driven efficiency may amplify systemic shocks during periods of market stress.

Binance will delist 12 cryptocurrency margin trading pairs on December 4 at 6:00 a.m. UTC. The affected pairs include WAXP/BTC, SXP/BTC, ONT/BTC, ID/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC, ONG/BTC, POWR/BTC, AGLD/BTC, and UMA/BTC across Cross Margin and Isolated Margin platforms. The exchange will close user positions, perform automatic settlement, and cancel all pending orders during the delisting process.

South Korean cryptocurrency exchange Upbit identified a critical security flaw in its internal wallet system that could have allowed attackers to derive private keys from publicly visible blockchain transaction data. The vulnerability was discovered during an emergency audit following a $30 million theft on November 27. The exchange has not confirmed whether the flaw was directly exploited in the breach, but has committed to covering all customer losses using its own reserves.