U.S. Treasury Secretary Scott Bessent said on Dec. 3 that President Trump established tariffs of 15% to 20% as the standard norm, BlockBeats reports. The statement reflects the administration's trade policy framework.

The probability of a 25 basis point Federal Reserve rate cut in December fell to 88.8% following the December 3 ADP employment report, down from 89.2% before the release, CME FedWatch Tool data show. The odds of rates holding steady stood at 11.2%. For the January meeting, the likelihood of no change was 29.5%, while probabilities for a cumulative 25 basis point cut and 50 basis point cut were 63% and 7.8%, respectively. The Fed's next FOMC meetings are scheduled for December 10 and January 28, 2026.

The probability of a 25 basis point Federal Reserve rate cut in December stood at 89.2% before the Dec. 3 ADP employment data release, with a 10.8% chance of rates remaining unchanged, CME FedWatch data show. For the cumulative outlook through January 2025, the tool showed a 66.6% probability of a 25 basis point reduction, a 25.7% probability of a 50 basis point cut, and a 7.7% chance of no change.

UK authorities seized approximately 60,000 BTC linked to money laundering suspect Qian Zhimin by accessing encrypted wallets on his laptop, Caijing Magazine reported on Dec. 3. Police confiscated phones, computers, and USB drives during multiple searches, with one USB containing photographs of notebook pages that appeared removed before seizure. The photographed pages documented the black laptop's boot password and multiple seed phrases, including patterns such as "number + love" along with numerical hints, which enabled the cryptocurrency recovery.

Foundation company registrations in the Cayman Islands rose 70% year-over-year, surpassing 1,300 by end-2024 and adding over 400 in the first five months of 2025, Cointelegraph reports. Cayman foundations have become the primary legal structure for DAOs to hold treasuries, manage IP, and handle compliance, with at least 17 foundations holding treasuries exceeding $100 million. The OECD CARF reporting framework takes effect in 2026 and will standardize automatic information exchange to address tax avoidance in crypto transactions. The Cayman Islands will require crypto service providers engaged in trading and custody to conduct due diligence and reporting, though protocol treasuries and passive foundations holding assets are expected to fall outside mandatory disclosure requirements.

The Property (Digital Assets etc) Bill received Royal Assent from King Charles III on December 3 and became law in the United Kingdom, House of Lords member John McFall said. The legislation formally recognizes digital assets including cryptocurrencies and stablecoins as property under UK law. The bill codifies principles previously established through common law judicial precedents and implements recommendations from the Law Commission of England and Wales in 2024, which proposed classifying crypto assets as a distinct category of personal property rights. Freddie New, policy director at Bitcoin Policy UK, described the law as "a significant positive development for Bitcoin holders and users across the UK."

The U.S. November ADP employment report is scheduled for release at 21:15 local time on December 3, Jin10 reports. With official nonfarm payroll data and inflation figures unavailable ahead of the Federal Reserve's policy meeting next week, the ADP report may serve as the Fed's sole reference for labor market conditions. Market participants should anticipate potential volatility surrounding the data release.

South Korea is set to require stablecoin issuers to be consortiums with at least 51% bank ownership, News1 reported on Dec. 3. The proposal, part of the government and National Assembly's second-phase Digital Asset Basic Act, has gained backing from the Democratic Party's digital asset task force. The framework reflects a compromise between the Bank of Korea's preference for bank-only issuance and lawmakers' calls to include fintech and blockchain firms, with the government draft due Dec. 10 and legislative completion targeted for January.

President Donald Trump said Kevin Hassett could be his choice for Federal Reserve Chair, telling a Cabinet meeting on Dec. 2 he may announce the decision in early 2025 after reviewing 10 candidates, BlockBeats reports. Treasury Secretary Bessent does not seek the role, Trump noted. Trump renewed criticism of Chair Jerome Powell, citing JPMorgan Chase CEO Jamie Dimon's view that the Fed should lower interest rates.