Sen. Ted Cruz (R-TX) tweeted in celebration of BTC surpassing $100,000. He wrote, "Bitcoin and crypto have come a very long way since the first transaction: 10,000 bitcoin for two pizzas. To the moon!"

Sen. Cynthia Lummis (R-WY) told reporters that she wants Republicans to hold hearings next year on debanking, focusing on when politically charged businesses like gun manufacturers or crypto firms are denied banking services. Lummis stated that the issue of debanking is "much bigger and more sinister than a lot of us knew," adding that there will have to be hearings in the Senate Banking Committee and discussions with Treasury nominees and people at the Federal Reserve on the topic.

President-elect Trump tapped venture capitalist David Sacks to serve as the “White House AI & Crypto Czar,” a new position that is expected to oversee federal action on crypto deregulation and government AI adoption. Sacks is a South African investor who has close ties to Elon Musk. He has been a vocal supporter of crypto and digital assets for over a decade and is expected to push hard for a deregulatory approach to the sector. Several lawmakers, including Rep. Warren Davidson (R-OH), House Majority Whip Tom Emmer (R-MN), and Sen. Todd Young (R-IN), praised the decision in X posts. The position will not require Senate confirmation.

The UK National Crime Agency announced that it has exposed and disrupted Russian crypto money laundering networks supporting organized crime around the world. The NCA investigation, Operation Destabilise, was revealed as the US Treasury Department's Office of Foreign Assets Control (OFAC) announced sanctions against businesses linked to TGR. According to the NCA press release, Smart and TGR "helped Russian clients to illegally bypass financial restrictions to invest money in the UK, threatening the integrity of our economy."

The European Banking Authority (EBA) launched a public consultation on proposed standards outlining the criteria according to which crypto asset service providers should appoint a central contact point to ensure compliance with local anti-money laundering and countering the financing of terrorism obligations of the host member state. The draft proposal sets out criteria for determining the circumstances in which the appointment of a central contact point is appropriate, as well as the functions of those central contact points. The consultation runs until February 4, 2025.

The Government Accountability Office (GAO) released a report finding that, though crypto assets make up a small part of the 401(k) market, their limited federal oversight might leave workers responsible for monitoring the volatile investment options. The report examines 1) the presence of crypto asset investment options in 401(k) plans, 2) the potential effects of crypto assets on participants savings, 3) how fiduciaries meet ERISA responsibilities when offering crypto assets in 401(k) plans, and 4) the extent of federal oversight of crypto asset investment options in 401(k) plans.

The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned five individuals and four entities that it said were tied to a money laundering network that uses crypto to evade Russian sanctions. Treasury said it was sanctioning individuals and entities linked to the TGR Group, which it called a "sprawling international network" that helps Russian elites circumvent sanctions using dollar-based stablecoins like Tether.

The CFTC released its FY 2024 enforcement results, announcing record monetary relief of over $17.1 billion, largely driven by enforcement actions involving crypto cases. Most of the fines and remedies were tied to FTX and sister hedge fund Alameda Research. According to the agency's press release, in FY 2024, the CFTC brought 58 new actions including precedent-setting digital asset commodities cases. The $12.7 billion FTX judgment is the largest recovery for victims and sanctions in CFTC history.

The SEC tapped Mark Sylvester, the former assistant director of the SEC’s crypto unit, and Laura D’Allaird, counsel to Commissioner Jaime Lizarraga, to co-lead the SEC’s Crypto Assets and Cyber Unit. Sylvester and D'Allaird are replacing Jorge Tenreiro, who was recently promoted to chief litigation counsel. The move comes ahead of the coming Trump Administration shake-up that could change the agency's approach to the digital asset industry.