Celsius Network amended its Chapter 11 plan to distribute more crypto assets to creditors than initially planned, in response to regulatory feedback from the SEC. Celsius had planned to create a new BTC mining company in partnership with crypto consortium Fahrenheit LLC. However, Celsius will now redistribute to creditors some of the assets it had planned to transfer to the new company, and Celsius will debut a new BTC mining company itself.

According to an agency memo, the SEC met with Grayscale on November 20 to discuss its spot BTC exchange-traded fund (ETF) application.

SEC Commissioner Hester Peirce discussed crypto in an interview with Bloomberg TV, stating that there is no valid reason for the SEC to prevent the launch of spot BTC exchange-traded funds (ETFs). Peirce also discussed the SEC's regulatory framework, the crypto industry's future, internal dynamics at SEC, Congressional legislation, and SEC's enforcement approach. She argued that litigation is not the most effective regulatory tool for the SEC.

CFTC Chair Rostin Behnam and Commissioners Christy Goldsmith Romero, Kristin Johnson, and Caroline Pham each released statements on the Binance settlement. Romero highlighted how Binance was used to facilitate illicit activity by terrorist organizations like Hamas, while Johnson outlined the monetary penalties imposed on Binance and affiliated entities, CEO Changpeng Zhao, and Chief Compliance Officer Samuel Lin.

Treasury Secretary Janet Yellen released a statement on Binance, noting how the exchange undermined sanctions controls and was used to finance illicit activity. Treasury's Financial Crimes Enforcement Network (FinCEN) is settling with Binance for $3.4 billion, while the Office of Foreign Assets Control (OFAC) is assessing a penalty of nearly $1 billion. Relatedly, Deputy Treasury Secretary Wally Adeyemo said on Bloomberg TV that the criminal charges brought against Binance show that the US has some tool to combat illicit finance, but more are needed.

Lawmakers have begun reacting to Binance's settlements with DOJ, CFTC, and Treasury. Sens. Debbie Stabenow (D-MI) and Elizabeth Warren (D-MA) voiced support on X, formerly known as Twitter. Sen. Stabenow stated that agencies must continue to pursue crypto companies that defraud Americans and enable criminal activity, but Congress must also act to regulate the crypto industry. Sen. Warren called Changpeng Zhao's guilty plea "sadly predictable," and part of a "larger trend of criminal activity in the crypto industry."

Binance has agreed to pay $4.3 billion to settle charges brought by DOJ, as well as additional penalties to resolve enforcement actions by CFTC and Treasury over alleged money laundering, bank fraud, and sanctions violations. CEO Changpeng Zhao also agreed to step down, and former Chief Compliance Officer Samuel Lin will pay a $1.5 million civil penalty to the CFTC.

Four consumers have launched a proposed antitrust class action against Apple, alleging its agreements with Apple Cash competitors limit competition by blocking decentralized crypto technology from iOS peer-to-peer payment apps. The lawsuit claims that Apple's agreements with Google LLC, Block Inc., and PayPal to prevent decentralized crypto on their cash app platforms violate Section 1 of the Sherman Act.

The crypto advocacy group Blockchain Association filed an amicus brief with the US Office of Foreign Assets Control (OFAC), arguing against OFAC’s sanctions against Tornado Cash. The Blockchain Association argues that OFAC's sanctions are unlawful, exceed their statutory authority, and are arbitrary and capricious.