Senate Finance Committee Chair Ron Wyden (D-OR) sent a letter to the IRS asking how proposed budget cuts would hurt efforts to crack down on funding for Hamas via fake charities, cryptocurrency, and other schemes. The letter comes after House Republicans unveiled a $14.3 billion aid package for Israel, which would be paid for via cuts to IRS funding.

Terraform Labs and its co-founder, Do Kwon, filed a summary judgment motion requesting that the US District Court for the Southern District of New York throw out the SEC’s case against them.

PayPal stated in its quarterly report that the company received a subpoena from the SEC relating to its PayPal USD stablecoin. The company stated, "On November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requests the production of documents. We are cooperating with the SEC in connection with this request."

The SEC charged SafeMoon LLC and creator Kyle Nagy, CEO John Karony, and Chief Technology Officer Thomas Smith for perpetrating a fraudulent scheme through the unregistered sale of the crypto asset security SafeMoon. The Justice Department also arrested Karony and Smith, and charged all three executives with conspiracy to commit securities fraud, wire fraud, and money laundering. Nagy reportedly remains at large.

Sen. Cynthia Lummis (R-WY) posted a tweet highlighting the potential for crypto mining to boost domestic energy production.

Rep. Andy Barr (R-KY) released a statement regarding the Government Accountability Office's report on SEC Staff Accounting Bulletin 121, praising the GAO and calling SAB 121 an example of “regulatory overreach” by the SEC.

The Justice Department announced that cryptocurrency founder Amir Elmaani, who created Pearl tokens, was sentenced to four years in prison for evading taxes on his crypto profits and causing the government $5.5 million in tax losses. Elmaani, also known as "Bruno Block," founded the cryptocurrency "Oyster Pearl." Four years is the maximum sentences allowed by statute for his offenses.

SEC Chair Gary Gensler tweeted about the 15th anniversary of the crypto white paper, congratulating the industry while also calling on crypto companies to comply with securities laws.

CFTC Commissioner Christy Goldsmith Romero issued a statement on the CFTC’s 2023 annual report on whistleblowers, finding that the majority of tips received in 2023 involved crypto, “an area that continues to have pervasive fraud and other illegality.” The CFTC reportedly awarded $16 million to whistleblowers this year.