standstill

According to CoinDesk, the Clarity Act, aimed at establishing a clear regulatory framework for cryptocurrency in the United States, has been declared a failure after months of intense negotiations. The bill was originally intended to address the definition of digital assets at the federal level, but it failed to reach the final voting process due to fierce interest group conflicts.Multiple sources indicate that the core reason for the legislative collapse lies in complex jurisdictional conflicts and disputes over terms. The CFTC (Commodity Futures Trading Commission) and SEC (Securities and Exchange Commission) are in disagreement over the management rights of certain digital assets, while lawmakers also struggle to reach a consensus on how to define the legal attributes of NFTs, DeFi protocols, and stablecoins. Despite calls from organizations to eliminate market uncertainty through legislation, a key compromise proposal ultimately could not be reached.The Fintech Association and other industry organizations had previously lobbied actively in support of the bill, hoping to establish clear industry standards. With the failure of this legislation, traditional financial institutions on Wall Street and cryptocurrency projects will continue to face legal gray areas, and the industry's compliance process will thus be forced to delay.

Supported by the uncertainty of the reopening prospects of the Strait of Hormuz and the ongoing tensions in the Middle East, both WTI and Brent crude oil prices continued to rise in the U.S. trading session. Iran reiterated several conditions before agreeing to fully reopen the strait. According to Al Jazeera, the conditions proposed by the Secretary of the Supreme National Security Council of Iran, Zolghadr, include: ending the U.S. maritime blockade and the withdrawal of the U.S. Navy and Air Force from around Iran.Tehran also demanded compensation for damages caused by recent conflicts, the lifting of sanctions, and the unconditional unfreezing of Iranian assets. These demands currently reduce the likelihood of a swift return to normal shipping and help maintain the risk premium in WTI prices. Meanwhile, negotiations with Oman to establish a secure shipping route through the Strait of Hormuz seem to be making progress.However, due to the failure to reach an agreement on full reopening, investors remain cautious about the risks of long-term disruptions to oil supply. Regional tensions are not limited to the Strait of Hormuz. The Iran-backed Houthi forces in Yemen claimed responsibility for a drone attack on Saudi Aramco's refinery in Saudi Arabia. The latest attacks on major energy infrastructure have heightened market concerns about the security of regional oil supplies.

According to news from the UK, shipping in the Strait of Hormuz was once again brought to a standstill on the evening of the 18th.Previously, radio communications warned that the Iranian armed forces had resumed "strict management and control" over the strait. Multiple vessels in the relevant waters heard the warnings, which have been confirmed.On the same day, the UK maritime safety company, Pioneer Technologies, released a report detailing that three vessels were attacked in the waters near the Strait of Hormuz, involving one oil tanker, one cruise ship, and one container ship. Two of the vessels were explicitly warned and fired upon by the Iranian Islamic Revolutionary Guard, while another container ship was hit by an unidentified projectile 25 nautical miles northeast of Oman, causing damage to some containers.

According to CCTV news reports, real-time data from the international tanker traffic monitoring system shows that the sailing speed of tankers in the waters around the Strait of Hormuz has generally dropped to zero, indicating that shipping in the region has come to a standstill.At the same time, several European governments have issued emergency directives to their flagged tankers en route, prohibiting passage through the Strait of Hormuz to avoid safety risks arising from the current escalation of the situation.

According to Jinshi, Federal Reserve Governor Waller stated that the resolution of cryptocurrency regulatory issues seems to be stalled in Congress.

According to Jinshi reports, Federal Reserve Governor Waller stated that the U.S. labor market is weak and close to stagnation.

According to Jin Ten, as the relief brought by the historic U.S. government shutdown ends gradually, coupled with a wave of economic data about to flood the market and concerns over whether the Federal Reserve can successfully cut interest rates in December, cautious sentiment prevails on Wall Street this week. The upcoming return of U.S. economic data is likely to increase market volatility. Here are the key points the market will focus on in the new week (all times are in Beijing time):Tuesday 02:00: 2026 FOMC voter, Minneapolis Fed President Kashkari will host a fireside chat;Thursday 03:00: The Federal Reserve will release the minutes of the monetary policy meeting, and FOMC permanent voter, New York Fed President Williams will speak;Friday 02:40: 2025 FOMC voter, Chicago Fed President Goolsbee will speak;Friday 05:30: 2026 FOMC voter, Philadelphia Fed President Harker will speak on the economic outlook;Friday 20:30: FOMC permanent voter, New York Fed President Williams will speak;Friday 22:00: 2026 FOMC voter, Dallas Fed President Logan will participate in a panel discussion at the "2025 Swiss National Bank and its Observers" event.The U.S. Bureau of Labor Statistics announced on Friday that it will release the highly anticipated September employment situation report next Thursday (November 20). This report was originally scheduled for release on October 3. The agency also stated that it will release the inflation-adjusted real income data for September next Friday (November 21). In addition, Nvidia is set to release its earnings report next Wednesday.

ChainCatcher news, this week multiple small cryptocurrency ETFs made their debut on Wall Street, despite the U.S. government still being in a shutdown, the issuers continued to push for listings. The first of its kind, the Bitwise Solana Staking ETF (BSOL), launched on Tuesday, offering full staking exposure to Solana with an approximate yield of 7%, according to data from Dune Analytics. Additionally, funds focusing on cryptocurrencies like Litecoin and Hedera have also begun trading.The U.S. Securities and Exchange Commission (SEC) shutdown guidelines allow certain filings to automatically take effect after 20 days—this procedural coincidence has allowed the listing of crypto ETFs to continue.

ChainCatcher news reports that, according to 4E monitoring, the deadlock in US-EU trade negotiations has led to cautious investor sentiment, causing US stocks to fail to continue their rebound on Tuesday, with all three major indices slightly declining, although volatility has noticeably eased compared to recent times. By the close, the Nasdaq fell 0.05%, the S&P 500 dropped 0.17%, and the Dow Jones decreased by 0.39%. Tech stocks showed mixed performance, with the seven giants index down about 0.4%.Cryptocurrencies weakened across the board, with Bitcoin dropping from $86,496 last night to $83,670 before this report, a nearly 2% decline in 24 hours; Ethereum fell 2.2% below $1,600. The altcoin market generally declined, with the Meme and AI sectors leading the drop.Despite the recent volatility in financial markets, Bitcoin has remained stable above $80,000, demonstrating strong resilience.In the forex commodities sector, the US dollar index's downward trend has slowed, rising 0.59% back above the 100 mark; oil prices remained basically unchanged from the previous day; trade uncertainties have favored safe-haven assets, with London gold surging 1.32% to $3,272, up over 23% year-to-date.The shadow of the trade war continues to loom over the market, with the uncertainty surrounding Trump's tariff policies exacerbating concerns about a global economic slowdown, and the deadlock in US-EU negotiations further increasing market uncertainty. The US stock earnings season has begun, with several large companies set to announce their earnings this week, which may intensify market volatility.