The cryptocurrency market capitalization fell 1% on Tuesday morning (UTC) to $3.63 trillion. Bitcoin dropped to $105,168 while Ethereum declined to $3,558. Market sentiment has improved following the US Senate's passage of a government reopening bill and expectations of renewed liquidity from potential regulatory developments.

Brazil's Central Bank issued regulatory requirements on November 10, 2025, extending banking compliance standards to virtual asset service providers including exchanges, wallet services, and payment platforms. The framework mandates anti-money laundering protocols, customer due diligence, and Central Bank authorization for all crypto firms. The regulations take effect in February 2026.

Brazil's central bank published Resolutions 519, 520, and 521, classifying stablecoin transactions as foreign exchange operations subject to banking-style oversight. Licensed virtual asset service providers must implement consumer protection and anti-money laundering protocols. Transfers with unlicensed foreign entities are capped at $100,000, with full implementation set for 2 February 2026.

Bitcoin traded at $105,373, down 0.9%, as Asian equity markets advanced following the US Senate's approval of a funding bill to end the government shutdown. South Korea's Kospi gained 1.3% and Japan's Nikkei rose 0.4%. Gold climbed nearly 3% overnight, while the total crypto market capitalization stood at $3.64 trillion.

Gemini Space Station reported a 52% quarter-over-quarter revenue increase in Q3 2025, generating nearly $50 million in its first quarter as a publicly traded company. The Winklevoss-operated crypto exchange posted a net loss of $159.5 million, or $6.67 per share, exceeding analyst expectations of $3.24 per share. Following the earnings release, Gemini shares declined as much as 12% in after-hours trading, falling below $15 to reach an all-time low.

Digital asset investment products recorded $1.17 billion in net outflows for the second consecutive week, according to CoinShares. Bitcoin-linked products lost $932 million while Ethereum products shed $438 million. Solana attracted $118 million in inflows and XRP drew $28.2 million, bucking the broader market trend.

The U.S. Senate Agriculture Committee released a draft cryptocurrency market structure bill on Monday, seeking to clarify the Commodity Futures Trading Commission's oversight of spot crypto trading. The legislation, led by Chairman John Boozman and Senator Cory Booker, establishes foundational definitions and directs the CFTC and SEC to conduct joint rulemaking on regulatory matters including portfolio margining and intermediary oversight. The draft contains bracketed sections indicating ongoing negotiations, with Democratic members noting that certain provisions may require input from the Senate Banking Committee.

The U.S. Internal Revenue Service announced Monday a new safe harbor permitting crypto exchange-traded products to stake digital assets and pass staking rewards to investors. The guidance removes tax compliance barriers that previously prevented regulated trusts from offering staking yields on proof-of-stake networks like Ethereum.