The U.S. Commodity Futures Trading Commission plans to authorize leveraged spot cryptocurrency trading on regulated domestic exchanges by December 2025. Acting Chair Caroline Pham confirmed the agency is in active discussions with major platforms including CME Group, Cboe Futures Exchange, and Coinbase Derivatives. The products will operate under existing commodities law oversight, focusing on Bitcoin and Ethereum.

Federal Reserve Governor Stephen Miran stated on November 10, 2025, that he supports a 50 basis point interest rate reduction at the December FOMC meeting. Miran argued the economy requires faster monetary relief to prevent a slowdown. This marks his third consecutive call for a half-point cut after dissenting against 25 basis point reductions in September and October.

UBS has raised its S&P 500 forecast to 7,500 by the end of 2026, driven by expected earnings growth concentrated in the technology sector. The bank projects 14.4% earnings expansion for 2026, with nearly half coming from AI-focused companies including Nvidia and Microsoft. Citi separately increased its Nvidia price target to $220 ahead of the company's November 19 earnings report.

Federal Reserve Governor Stephen I. Miran said the stablecoin market could reach $1 trillion to $3 trillion by 2030, potentially reducing the U.S. neutral interest rate by up to 40 basis points. Miran explained that increased demand for Treasury securities and dollar-linked assets from stablecoin reserves may push down borrowing costs. He drew parallels to the early-2000s global savings glut that previously depressed rates worldwide.

The Bank of England has published a consultation paper proposing oversight rules for systemic sterling-denominated stablecoins used in payments and settlements. The framework requires issuers to hold at least 40% of reserves at the central bank and up to 60% in short-term UK government debt. Temporary holding limits are set at £20,000 for individuals and £10 million for businesses during the implementation phase.

The Bank of England launched a consultation on November 10, 2025, proposing regulatory requirements for systemic sterling stablecoins in UK payment systems. The framework introduces temporary holding caps of £20,000 for individuals and £10 million for businesses. Reserve requirements mandate issuers maintain 60% in short-term UK gilts and 40% in non-interest Bank of England accounts.

The Bank of England has released a consultation paper proposing temporary holding limits of £20,000 for individuals and £10 million for businesses on sterling-denominated systemic stablecoins. Deputy Governor Sarah Breeden said the caps aim to prevent rapid deposit outflows from commercial banks that could threaten credit availability. Industry leaders have criticized the restrictions as overly cautious compared to the U.S. GENIUS Act framework, which imposes no ownership limits.

Cryptocurrency investment products experienced $1.17 billion in net outflows last week as institutional investors reduced exposure. Bitcoin-focused vehicles accounted for $932 million in withdrawals, while Ethereum products saw $438 million exit. Despite the selling pressure, Bitcoin's price climbed above $106,000 during the period.