The UK's Her Majesty's Revenue and Customs has introduced a 'No Gain No Loss' tax framework for decentralized finance activities. The proposal would exempt on-chain DeFi deposits from capital gains taxation, according to Aave founder Stani Kulechov. The policy aims to align tax rules with blockchain transaction mechanics and streamline compliance for users engaged in lending and staking.

S&P Global assigned USDT a stability score of 5 on November 26, the lowest rating in its stablecoin assessment framework. The agency cited concerns over reserve composition, including approximately $10 billion in Bitcoin holdings and around $15 billion in secured loans. Despite the downgrade, USDT's market capitalization exceeded $184 billion, reaching an all-time high.

The cryptocurrency market capitalization increased 4.2% to $3.2 trillion on November 27, with 88 of the top 100 digital assets posting gains. Bitcoin rose 4.7% to $91,506, while Ethereum climbed 3.9% to $3,027. Analysts note that bulls and bears continue battling around key liquidity zones amid a low-conviction consolidation phase, according to market data.

Cathie Wood's Ark Invest purchased more than 62,000 Coinbase shares worth over $16 million across three flagship funds on Wednesday. The firm simultaneously added approximately 39,400 shares of the Ark-21Shares Bitcoin ETF. Coinbase now represents more than 5% of the ARK Innovation ETF portfolio.

South Korean exchange Upbit halted Solana deposits and withdrawals following a hot wallet breach on November 27 that drained approximately $36.8 million in SOL-based tokens. The incident affected one Solana wallet holding assets including SOL, USDC, BONK, and other ecosystem tokens. The platform immediately transferred remaining Solana assets to cold storage and froze roughly $8.2 million in tokens through collaboration with project teams.

South Korean cryptocurrency exchange Upbit suspended all deposit and withdrawal operations on November 27 after detecting an unauthorized transfer of approximately $38.5 million in digital assets. The breach affected multiple Solana-based tokens, including SOL, USDC, BONK, and others. The exchange has pledged to cover all customer losses using its own reserves, with services to resume after completion of security reviews.

Australia's Treasury presented legislation to parliament on Wednesday mandating that certain cryptocurrency service providers obtain financial services licenses. The Corporations Amendment (Digital Assets Framework) Bill 2025 would require digital asset platforms and tokenized custody platforms to hold an Australian Financial Services Licence (AFSL). The bill follows a September consultation period and received its first reading on Wednesday.

Robinhood and Susquehanna International Group secured controlling ownership of LedgerX, a federally licensed derivatives clearinghouse. The acquisition provides Robinhood immediate regulatory approval to operate futures and event-based contracts. The move positions the platform to compete directly with Kalshi, Polymarket, and Coinbase in the expanding prediction markets sector.