Securities and Exchange Commission Chair Paul Atkins outlined plans for a token taxonomy framework rooted in the Howey Test during remarks at the Federal Reserve Bank of Philadelphia's Fintech Conference on Wednesday. The initiative aims to establish clear distinctions regarding which digital assets qualify as securities. Atkins emphasized that tokens' regulatory status may evolve as networks mature and issuer involvement diminishes.

Circle Internet Group, issuer of the USDC stablecoin, reported net income of $214 million for the third quarter on Wednesday, a 202% increase from the same period last year. Earnings per share reached $0.64, well above the analyst consensus of $0.22. Total revenue and reserve income doubled to $740 million, driven by interest on reserves and expanding adoption across payment networks.

Bitcoin maintains levels above $100,000 while gold trades near $4,100 per ounce as investors assess year-end momentum potential for both assets. Both reached significant peaks in 2025, with Bitcoin hitting $125,000 in October and gold touching a record $4,380 before retracing. The assets now compete for investor attention amid seasonal trading patterns and evolving macroeconomic conditions.

Brazil's central bank has finalized regulations placing cryptocurrency service providers under banking supervision. Stablecoin transactions and certain self-custody wallet transfers will be classified as foreign-exchange operations, extending anti-money laundering and compliance requirements to virtual assets. The rules take effect in February 2026.

Nasdaq-listed VCI Global has agreed to purchase $100 million worth of OOB tokens from crypto payment platform Oobit. The transaction comprises a $50 million restricted share issuance to the OOB Foundation and an additional $50 million in secondary market purchases. The deal will make Tether VCI Global's largest shareholder through its stake in Oobit, according to the company.

Coinbase has ended negotiations to acquire UK fintech firm BVNK for approximately $2 billion, Fortune reported. The companies mutually agreed to discontinue discussions after months of talks. The collapsed deal highlights intensifying competition in stablecoin infrastructure among major payment firms including Visa, Mastercard, and Stripe.

The U.S. Treasury and Internal Revenue Service issued Revenue Procedure 2025-31 on November 10, enabling exchange-traded products holding digital assets to stake and distribute rewards without creating immediate tax liabilities for investors. Treasury Secretary Scott Bessent said the guidance aims to enhance investor benefits and support U.S. leadership in blockchain innovation. The safe harbor requires ETPs to meet specific operational criteria, including SEC approval and use of third-party custodians.

Coinbase has launched a savings account for UK users offering 3.75% AER variable interest with daily payments. The product, developed in partnership with ClearBank, provides FSCS protection for deposits up to £85,000 and enables instant transfers between GBP balances and crypto assets within the Coinbase app. The 3.75% rate falls below the UK's current average easy-access savings rate of 4.2% to 4.5% AER but exceeds many standard flexible accounts offered by major high-street banks.