The German Parliament passed the Digitalization of Financial Markets Act to fully implement MiCA when it comes into force on December 30. MiCA does not require local laws, but the German legislation was required in order to designate BaFin as a regulator. Without that designation, BaFin could not award licenses, which would have meant EU firms with crypto licenses from other countries could operate in Germany, but German firms would not have been able to operate in the EU. The bill also covers the EU's Digital Operational Resilience Act (DORA) and the revised Transfer of Funds Regulation (TFR).

The CFTC filed a memo urging the US Court of Appeals for the 7th Circuit to uphold a $231 million judgment against Sam Ikkurty, who the agency says ran a crypto Ponzi scheme, arguing that it is “undisputed” that the CFTC has authority to regulate the trading of BTC and ETH. The CFTC responded to Ikkurty's arguments that a federal judge was wrong in ruling the digital tokens that Ikkurty's crypto hedge funds supposedly invested in were commodities covered by the Commodity Exchange Act. The judge granted summary judgment in the agency's favor in July, ordering Ikkurty and his company, Jafia LLC, to pay restitution, disgorgement, and a civil penalty.

The French Financial Markets Authority (AMF) issued a press release stating that it has incorporated the European Banking Authority’s (EBA) guidelines on information requirements in relation to certain crypto asset transfers (Travel rule guidelines). EBA published the guidelines on July 4, and they will enter into application on December 30. The guidelines are part of a European legislative package focused on combating money laundering and terrorist financing.

US District Judge Araceli Martinez-Olguin refused BiT Global’s request for a temporary restraining order to block Coinbase from delisting a wrapped BTC product created by BiT Global for trading on decentralized exchanges, saying the company’s evidence of “irreparable harm” was mostly speculative. BiT Global filed its motion for a restraining order on the same day it filed an antitrust lawsuit against Coinbase claiming that it delisted BiT Global's product after creating a competing knockoff. BiT Global is seeking over $1 billion in damages for the claimed loss of the value of its wrapped BTC product, called wBTC.

US District Judge Michael Shea sentenced Dylan Meissner, a former executive of crypto research firm Delphi Digital, to four years in prison after pleading guilty to embezzling nearly $5 million from the firm for his personal use. Judge Shea also ordered Meissner to pay restitution of $4.6 million, which includes the money he stole from his employer and the loan he failed to repay. DOJ said Meissner stole approximately $4.4 million from Delphi Digital while serving as its vice president of finance in 2022.

Senate Majority Leader Chuck Schumer (D-NY) officially announced that Sen. Elizabeth Warren (D-MA) will serve as the top Democrat on the Senate Banking Committee next year. Warren was expected to assume the ranking member role after current Chair Sherrod Brown (D-OH) lost his reelection bid to Republican Bernie Moreno. Sen. Tim Scott (R-SC) will chair the Committee.

The Bank for International Settlements’ (BIS) Consultative Group on Innovation and the Digital Economy (CGIDE) published a report discussing four main processes in a retail CBDC architecture. The processes are 1) enrolling new users, 2) creating CBDC (cash-in), 3) destroying CBDC (cash-out), and 4) intra-ledger transfers. The report lays out a hybrid model that allows for the division of labor between the central bank and private intermediaries. The report does not represent a policy position of CGIDE members and observers on the design, issuance, or adoption of CBDC, but is instead offered as a public good to advance the work on these issues and share insights from a group of experts.

The Dutch Authority for the Financial Markets (AFM) approved payment platform ZBD to receive a MiCA license. When MiCA takes effect on December 30, ZBD will be able to offer a wide range of crypto custody and exchange services throughout the EU. The company said in a press release that "This achievement positions ZBD as a leader in crypto-asset innovation and compliance in the EU, allowing us to expand our transformative digital-native payments platform with new services and in new markets."

The UK Financial Conduct Authority (FCA) released a survey finding that young investors make investment decisions impulsively to keep up with current trends, highlighting investments in crypto. The agency stated that the "Latest research reveals that young investors are making important investment decisions in a matter of hours, rather than taking the time to check out whether the product is right for them in the long-term." The report also notes that there are strong parallels between impulse-driven investment decisions and purchases of everyday viral products, lumping crypto with products such as air fryers, smart watches, and energy drinks.