South Korea's National Police Agency has opened an investigation into unauthorized withdrawals of approximately $36.9 million in Solana network assets from Upbit, the country's largest cryptocurrency exchange. Authorities are examining possible links to North Korea's Lazarus Group, a state-affiliated entity previously connected to multiple cryptocurrency thefts. Upbit has suspended all deposit and withdrawal services and moved remaining assets to cold storage.

CoinShares, which manages $10 billion in assets, has withdrawn SEC registration statements for three planned crypto ETFs covering XRP, Solana and Litecoin. CEO Jean-Marie Mognetti cited intense market saturation, with traditional finance giants now controlling over 90% of crypto ETF inflows. The firm will instead focus on developing thematic crypto baskets and actively managed strategies over the next 12 to 18 months.

Japan's Financial Services Agency is reviewing a legal amendment to reclassify cryptocurrencies from payment tools to financial products as crypto accounts reached 13 million. The FSA working group convened its sixth session on November 26 to address consumer complaints averaging 350 monthly and rising fraud schemes. The proposed shift would transfer crypto oversight from the Payment Services Act to the Financial Instruments and Exchange Act, introducing stricter disclosure requirements and insider trading protections.

HM Revenue and Customs has directed cryptocurrency exchanges to collect detailed transaction records of UK customers starting January 2026, with submission to HMRC required by 2027. The mandate aligns the UK with jurisdictions adopting the OECD's Crypto-Asset Reporting Framework, including EU countries and Canada. Industry observers note platforms will face increased operational costs for system upgrades and compliance infrastructure.

Chicago Mercantile Exchange suspended trading for approximately 10 hours on November 28, 2025, after a cooling system malfunction at a CyrusOne data center in Aurora, Illinois. The outage affected futures markets across equities, rates, commodities, and cryptocurrencies. Full functionality was restored at 1:30 p.m. UTC, though delays persisted in some products.

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.