Odaily reports that the UK Treasury is drafting new regulations aimed at bringing cryptocurrencies and digital assets under its purview. Under this legislation, cryptocurrencies will be regulated in a manner similar to other financial products, and the new rules are expected to take effect in 2027. The new regulations will require cryptocurrency companies to meet a range of standards overseen by the Financial Conduct Authority (FCA).

UK Chancellor of the Exchequer Rachel Reeves stated that bringing cryptocurrencies under regulation is a crucial step in ensuring the UK remains a leading global financial center in the digital age. This move will provide clear rules for businesses, stronger protection for consumers, and keep criminals out of the UK market.

Under the proposed amendments, companies offering cryptocurrency services would fall under the FCA's jurisdiction and their services would be regulated like other financial products, including compliance with transparency standards. These companies would include cryptocurrency exchanges and digital wallets, and would be required to register with the FCA if their services fall within the scope of UK anti-money laundering regulations.

Odaily Planet Daily reports that White House National Economic Council Director Kevin Hassett stated that if he is selected to lead the Federal Reserve, he will consider President Trump's policy recommendations, but the Fed's interest rate decisions will remain independent.

Kevin Hassett stated on CBS's "Face the Nation" last Sunday that the president has a very strong and well-founded view on the Federal Reserve's actions. However, he added that the Fed's responsibility is to maintain its independence and work with its Board members and FOMC colleagues to reach a collective consensus on interest rate levels.

Kevin Hassett was responding to a question about comments Trump made last Friday, in which Trump stated he should be able to advise on the interest rates set by the Federal Reserve. For months, Trump and his senior advisors have been pressuring Federal Reserve Chairman Powell to cut interest rates while also weighing potential successors.

According to CME's "FedWatch," the probability of the Federal Reserve cutting interest rates by 25 basis points in January is 24.4%, while the probability of keeping rates unchanged is 75.6%. By March of next year, the probability of a cumulative 25 basis point rate cut is 41.9%, the probability of keeping rates unchanged is 49.8%, and the probability of a cumulative 50 basis point rate cut is 8.3%. (Jinshi)

According to Odaily Planet Daily, Coinbase CEO Brian Armstrong stated in an article published on the X platform that cryptocurrencies can help create property rights, a sound monetary system, and free trade for everyone, but they are not a panacea and still require institutional reforms such as regulation and the elimination of corruption.

According to Onchain Lens, a newly created wallet withdrew 300 BTC from Binance, worth approximately $26.7 million.

According to an analysis by the Financial Times, the US non-farm payrolls report to be released next Tuesday will include data from October and November, finally providing policymakers and investors with a more complete picture of the US labor market and ending months of partial uncertainty. Following a contentious meeting this week, the Federal Reserve lowered interest rates to a three-year low, with several officials dissenting, the debate centered on whether to prioritize addressing high inflation or a weak job market. Economists at Citigroup pointed out that the upcoming jobs report may release more conflicting signals. The bank expects a loss of about 45,000 jobs in October but an increase of 80,000 in November. Citigroup economists stated that this rebound may be more related to seasonally adjusted data rather than a "real improvement in worker demand." They also predict the unemployment rate will rise from 4.4% to 4.52%, while a Reuters poll of economists showed an unemployment rate of 4.4%. The Fed's own quarterly forecasts indicate a median unemployment rate of about 4.5% by the end of this year. (Jinshi)

Odaily Planet Daily reports that YO Labs, the development team behind the yield optimization protocol YO Protocol, has announced the completion of a $10 million Series A funding round. The round was led by Foundation Capital, with participation from Coinbase Ventures, Scribble Ventures, and Launchpad Capital. This brings their total funding to $24 million. The company plans to use the funds to expand the protocol to more blockchains and improve its infrastructure. (CoinDesk)

According to Arkham's monitoring, an address flagged as potentially belonging to the Matrixport wallet withdrew 3 million ASTER tokens from a Binance hot wallet address approximately two hours ago, worth about $2.84 million. This wallet currently holds a total of 5 million ASTER tokens, worth $4.72 million.

According to Odaily, South Korea's ruling party had previously called on all ministries and the Financial Services Commission (FSC) to submit a bill regulating the won-denominated stablecoin by December 10th. However, the FSC failed to submit the bill on time. A spokesperson for the agency stated that the FSC needed more time to coordinate its position with relevant agencies, and rather than rushing to complete the proposal before the deadline, it would be better to publish its proposal at the same time as submitting it to the National Assembly. (Newsis)

According to an official announcement, Binance Futures will launch RAVEUSDT perpetual contracts. (Odaily Planet Daily)

Odaily Planet Daily reports that the cryptocurrency market remained weak on Sunday, with Bitcoin falling below the $90,000 mark. The market appeared to pause briefly ahead of a series of macroeconomic data releases in the coming days. Investors will be closely watching a range of employment indicators, including the unemployment rate, ADP employment data, and weekly initial jobless claims, as well as November inflation data and the yen's interest rate hike. Currently, the cryptocurrency market remains range-bound with low trading volume and limited market confidence. Analyst Ali Martinez pointed out that $86,000 remains a crucial level for Bitcoin to hold; a breach of this support level could lead to a more significant pullback. (CoinDesk)

Odaily Planet Daily reports that Strategy founder Michael Saylor has once again released information related to Bitcoin Tracker. Based on past patterns, Strategy always discloses information about increasing its Bitcoin holdings the day after such news is released.

According to Arkham's monitoring, about 19 minutes ago, a whale withdrew 14.098 million WLFI from Binance, worth approximately $2.01 million.