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According to PANews, French Senator Sylvie Vermeillet has proposed a new classification for Bitcoin and other digital assets in the 2025 budget. The proposal suggests categorizing these digital assets as non-productive properties, similar to real estate and luxury goods, and imposing taxes on their unrealized gains. French Finance Minister Laurent Saint-Martin has expressed support for this initiative. He argues that it is unfair to exempt Bitcoin from taxes while taxing assets in the physical economy. This move aims to address the disparity in taxation between digital and traditional assets, ensuring a more equitable tax system. The proposal reflects ongoing discussions in France about how to regulate and tax digital currencies, which have become increasingly popular among investors. The proposed changes could have significant implications for cryptocurrency holders in France, potentially affecting investment strategies and market dynamics. As the debate continues, stakeholders in the digital asset space are closely monitoring developments to understand how these potential regulations might impact the broader financial landscape.

According to Foresight News, CoinDesk reports that the tokenized asset exchange 21X, operating on the Polygon network, has received approval from Germany's financial regulatory authority, BaFin. The exchange is set to launch in the first quarter of 2025, with its headquarters in Frankfurt. The platform aims to facilitate the trading of tokenized financial instruments, including tokenized equity, debt securities, funds, and real-world assets (RWA) such as real estate or artwork that qualify as eligible financial instruments.  

According to Odaily, U.S. Congressman French Hill has publicly committed to investigating 'Operation Chokepoint 2.0,' an initiative accused of politically motivated denial of financial services to specific industries, including cryptocurrency. Hill emphasized that financial institutions should not terminate customer accounts without legitimate and substantial reasons, labeling such actions as weaponizing government resources. He highlighted the importance of fairness and transparency in financial regulation, arguing that these practices are detrimental to legitimate businesses.In a recent social media post, Hill condemned the Biden-Harris administration for continuing these practices, drawing parallels to the original 'Operation Chokepoint.' He announced his intention to push for legislative scrutiny of regulatory agencies' actions and policies to determine their compliance with legal standards. Furthermore, Hill expressed a strong stance against political targeting in financial regulation, vowing to eliminate such biases.As part of his broader reform agenda, Hill stressed the importance of developing financial regulatory measures tailored to specific institutions. He suggested that federal prudential regulators should consider factors such as size, risk profile, and business model when implementing policies. This approach aims to prevent one-size-fits-all regulation and ensure that smaller community banks and credit unions do not face undue burdens.

According to Odaily, Jorge Tenreiro, the acting head of the U.S. SEC's crypto and cybersecurity oversight division, has been appointed as the agency's Chief Litigation Counsel, broadening his responsibilities. Despite this change, Tenreiro is expected to maintain a stringent approach to regulatory enforcement. Investor protection and market integrity remain top priorities, even amidst shifting political landscapes.Under Tenreiro's leadership, the SEC has initiated several high-profile cases against cryptocurrency companies. Notably, he played a pivotal role in the SEC's lawsuit against Ripple Labs and its executives, Brad Garlinghouse and Chris Larsen. As the chief attorney, Tenreiro managed allegations that XRP was an unregistered security. His new position indicates that while he supports cryptocurrency innovation, he will continue to enforce securities laws rigorously. The focus is likely to remain on ICOs, token offerings, and combating market manipulation within the cryptocurrency sector.

According to Odaily, Vivek Ramaswamy, a key figure in the U.S. Government Efficiency Department (DOGE), announced on X that federal regulatory expenses are poised for a substantial reduction. This shift is attributed to two pivotal judicial developments that have weakened federal regulatory authority.Ramaswamy highlighted the Supreme Court's rejection of the "Chevron Deference Doctrine," which previously allowed federal agencies to interpret ambiguous regulations, and the "Major Questions Doctrine," which mandates that agencies can only act with explicit legal authority. These decisions are considered transformative, paving the way for a significant contraction in the scope of federal regulation. Ramaswamy emphasized that this change is imminent.The court's rulings, finalized in 2024 and 2022 respectively, have curtailed the ability of federal agencies to interpret regulations. Analysts suggest that these changes are expected to impact numerous industries, including the cryptocurrency sector.

According to Foresight News, FOX Business journalist Eleanor Terrett has reported that sources indicate former President Donald Trump is expected to announce his nominee to replace Gary Gensler as the new Chair of the Securities and Exchange Commission (SEC) as early as tomorrow.

According to PANews, Bolivia has experienced a significant increase in cryptocurrency trading following the lifting of its ban on digital currencies. The trading volume has surged by 112%, with the number of cryptocurrency holders exceeding 252,000. From July to October this year, the trading volume reached $75 million, a notable rise compared to $46.4 million in the first half of the year.Stablecoin USDT has gained popularity as an alternative to the US dollar, with Bisa Bank leading the way in offering related services.

According to Odaily, Barclays economist Bum Ki Son has indicated that South Korea's consumer inflation is likely to increase in December following a lower-than-expected growth in November. This potential rise in inflation for two consecutive months could lead the Bank of Korea to pause its interest rate cuts in January.In November, the benchmark consumer price index rose by 1.5% compared to the same period last year, which was an increase from October's 1.3% rise but fell short of the market's median expectation of 1.7%. Despite this increase, the inflation rate remains below the Bank of Korea's annual target of 2%. Bum Ki Son anticipates that the central bank will resume rate cuts in February, May, and October. 

According to Odaily, a judge in Delaware has once again rejected Tesla CEO Elon Musk's substantial compensation package, despite shareholders voting in favor of reinstating it during the company's annual meeting on June 13. The judge upheld the initial January ruling, declaring the compensation plan illegal due to insufficient disclosure of its details to shareholders and a lack of independence among Tesla's board members.Tesla and Musk's legal representatives argued that the second shareholder vote in June, which supported the compensation package, should have validated its reinstatement. Initially valued at $2.6 billion, the stock option plan surged to $56 billion when the judge nullified it. As of Monday's closing price, the plan's value had escalated to $101.5 billion.

According to Cointelegraph, the European Central Bank (ECB) has published its second progress report on the preparatory phase for the issuance of a digital euro. The report addresses key issues such as holding limits for the central bank digital currency (CBDC) and the harmonization of laws across member states.The report marks the midpoint of the preparatory phase, which follows the investigative and design stages. The ECB has reviewed the developing digital euro rulebook, leading to the establishment of seven workstreams involving market participants and central banks to further its development. The rulebook aims to harmonize national laws to ensure universal standards, with a progress report released in September and another expected in July 2025.Research is ongoing to develop a digital euro user profile, focusing on identifying the needs of potential users. This includes user preferences on holding limits, which will be considered in technical research conducted with national central banks. Politico reported in October that holding limits have become a contentious issue between the ECB and national central banks. One proposed solution is a "reverse waterfall" mechanism that would automatically transfer excess digital euros to fiat currency in a linked bank account. The report also mentions ongoing investigations into solutions for offline transactions, though details remain sparse.A significant topic in the report is the competition in the financial market between European and non-European service providers and the need for enhanced technical services, such as digital wallets. The report highlights that payment service providers (PSPs) could leverage the digital euro infrastructure to develop new payment services. Additionally, a digital euro could assist regional and domestic European schemes in scaling up their payment offerings using the digital euro acceptance network.The report also suggests potential improvements to the user experience of the digital euro, allowing citizens with a strong preference for privacy to enjoy cash-like privacy features. In February, ECB executive board member Piero Cipollone assured that the digital euro would offer a higher standard of privacy than current commercial solutions.The selection of technical service providers will continue, alongside ongoing communications with the public and other stakeholders. The ECB plans to release the next digital euro progress report in the second quarter of 2025, with the ECB Governing Council potentially deciding on the launch of the European CBDC in October 2025.

According to ShibDaily, the U.S. Securities and Exchange Commission (SEC) has initiated legal action against Touzi Capital, LLC and its managing member, Eng Taing. The SEC accuses the investment firm of misleading over 1,200 investors by falsely claiming that their funds would be used for cryptocurrency mining operations. The lawsuit alleges that between 2021 and 2023, Touzi Capital conducted unregistered securities offerings, raising nearly $95 million from investors nationwide. Additionally, the SEC claims that the firm misused investor funds for Taing’s personal expenses.The complaint further states that Touzi Capital raised approximately $23 million for its debt rehabilitation business but improperly mixed these funds with those of its crypto asset mining and other unrelated ventures. The SEC also accuses the firm of misrepresenting the stability of the investments, falsely comparing them to high-yield money market accounts, while they were actually high-risk and illiquid. Despite the declining performance of these investments, Touzi Capital allegedly continued to solicit new investors. Taing and Touzi Capital face charges of violating the registration and antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, civil penalties, and an officer and director ban against Taing.The SEC has faced criticism for its regulatory approach to the cryptocurrency industry, with critics arguing that the agency has focused more on enforcement actions rather than establishing clear rules. SEC Commissioner Hester Peirce, known as “Crypto Mom,” has expressed concerns about the Commission’s “regulation-by-enforcement” strategy, suggesting it creates uncertainty and stifles innovation. However, there are indications that the SEC might be moving towards a more crypto-friendly regulatory stance following the resignation of its former chair, Gary Gensler. Reports suggest that Paul Atkins, a former SEC commissioner known for his pro-innovation views, is being considered as a potential successor. Atkins, referred to as “Crypto Dad,” is recognized for his understanding of the cryptocurrency sector and advocacy for supportive policies. Additionally, with President-elect Donald Trump’s recent pro-crypto position, there is speculation that regulatory oversight of cryptocurrencies could shift from the SEC to the Commodity Futures Trading Commission (CFTC).

According to Cointelegraph, Brazil is contemplating a ban on stablecoin transfers to self-custodial wallets, coinciding with the Brazilian real reaching unprecedented lows against the US dollar. On November 29, Banco Central do Brasil (BCB) proposed a regulation to prohibit the transfer of stablecoins, such as Tether’s USDt (USDT), to self-custodial wallets like MetaMask. This proposal is part of a draft regulation open for public consultation until February 28, 2025.The proposal explicitly states that virtual asset service providers are forbidden from transferring virtual assets denominated in foreign currency to self-custodial portfolios. This move aligns with Brazil's broader strategy to enhance oversight of the foreign exchange market and regulate Brazilian capital abroad. The BCB aims to amend existing 2022 resolutions concerning virtual asset service providers (VASPs) in the foreign exchange market. The central bank's proposal seeks to expand the scope of the foreign exchange market to include activities such as crypto payments, sales, custody, and transactions in foreign currency. Under this proposal, VASPs would be required to provide the BCB with detailed information, including client verification and transfer values.The rationale behind the focus on self-custodial wallets is that, unlike centralized exchanges, these wallets do not require user information for transactions, offering full ownership and accountability of assets. While some advocates of self-custody argue that regulators can limit the use of self-custodial wallets, they cannot completely ban them. The BCB's proposal comes amid a significant depreciation of the Brazilian real against the US dollar, with the real losing at least 23% of its value since January 1, reaching an all-time low of 6.09 reals per dollar on November 29.The cryptocurrency community has linked Brazil's proposal to restrict stablecoin transactions to the declining value of the real. Some voices in the community, like Area Bitcoin co-founder Carol Souza, have suggested that the government is attempting to limit financial exits as the real collapses. Brazil is a significant market for stablecoins, with the local community increasingly using them to hedge against the real's depreciation. According to Chainalysis, Brazil was the second-largest market globally for stablecoin transactions last year, with stablecoin volumes accounting for 59.8% of its entire crypto market. In the past year, Brazil saw $90 billion in crypto inflows, trailing Argentina by just $1 billion.

According to PANews, the South Korean Financial Services Commission (FSS) is intensifying its investigation into potential price manipulation in the cryptocurrency market, extending its scrutiny to individual investors. This development comes six months after the implementation of the country's Virtual Asset User Protection Act. Recently, an individual investor has come under investigation by the FSS for suspected price manipulation due to frequent short-term trading activities on a major exchange. 

According to Foresight News, CNBC reports that Coinbase's Chief Policy Officer, Faryar Shirzad, has expressed optimism about the future of cryptocurrency legislation in the United States. Shirzad highlighted that with the current Congress being the most crypto-friendly in history and a president who is particularly supportive of digital currencies, significant progress is anticipated in the legislative landscape.Shirzad predicts that by 2025, there will be substantial advancements in market structure legislation and stablecoin regulation. He believes these legislative efforts are likely to pass through Congress swiftly, given the favorable political climate. This outlook suggests a promising future for the cryptocurrency industry, as regulatory clarity and supportive policies could foster growth and innovation.The anticipated legislative changes are expected to address key areas within the cryptocurrency market, potentially providing a more structured and stable environment for digital assets. This development could attract more institutional investors and enhance the overall credibility of the crypto market. As the industry continues to evolve, the role of policymakers and their approach to regulation will be crucial in shaping the future of cryptocurrencies.

According to Odaily, a recent article from the Wall Street Journal suggests that if Donald Trump returns to the White House, the U.S. Securities and Exchange Commission (SEC) might ease its legal battles against cryptocurrency exchanges. Although Trump has not yet disclosed his choice for the next SEC chair, rumours indicate that several candidates are vying for the position following Gary Gensler's resignation.The next SEC chair is expected to be selected from a pool of seasoned regulators and legal experts, each bringing unique expertise to the role. Paul Atkins, who served as an SEC commissioner from 2002 to 2008 and currently leads financial consultancy at Patomak Global Partners, is considered a strong contender. Additionally, Mark Uyeda has gained attention since 2022 for his pro-cryptocurrency stance, aligning with Trump's regulatory views.Other notable candidates include former Acting Comptroller of the Currency Brian Brooks and former SEC General Counsel Robert Stebbins. Legal heavyweights Richard Farley and Norm Champ have also entered the competition, adding to the diverse array of potential leaders who could influence the future direction of cryptocurrency regulation in the United States.

According to Odaily, Emin Gün Sirer, the founder and CEO of Ava Labs, recently addressed questions from community members on X, revealing that Avalanche is in discussions with the incoming United States administration. Sirer emphasized that the company prefers to keep its political engagements discreet, stating that the results of these discussions will become apparent without prior public announcements. This approach aligns with Avalanche's strategic style, focusing on delivering outcomes rather than publicizing political connections.

According to PANews, the South Korean National Assembly has reached a consensus to postpone the implementation of the cryptocurrency tax until 2027. This marks the third delay since the tax was initially proposed in 2020. The main opposition party, the Democratic Party (DP), announced its intention to vote in favor of the government's delay plan during the National Assembly's plenary session on December 2.Previously, the DP attempted to advance an alternative bill that proposed implementing the crypto tax as originally scheduled in 2025, but with an increased annual tax threshold of 50 million Korean won (approximately $36,000) to align with the standards for stock trading taxes. However, this proposal did not receive support from the ruling People Power Party (PPP). DP leader Park Chan-dae stated that the decision to delay was made after thorough discussions, emphasizing the need for more institutional preparation to ensure the tax system's effectiveness.

According to Odaily, Ripple's Chief Legal Officer, Stuart Alderoty, has expressed concerns over what he perceives as a deliberate effort by U.S. regulators to undermine the cryptocurrency industry. In recent years, the sector has faced significant challenges, often referred to as 'Operation Chokepoint 2.0.' This term describes coordinated actions by U.S. regulatory bodies aimed at restricting banking services for businesses related to cryptocurrency.Alderoty recently shared his views on this issue via the social media platform X, highlighting a similar initiative from 2012. During that time, agencies such as the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC) reportedly pressured banks to cease providing services to certain industries. Alderoty believes that cryptocurrency has now become the primary focus of similar strategies. He pointed out that in 2012, under the original 'Operation Chokepoint,' regulators used banking as a tool against industries they deemed undesirable, such as gun shops and payday lenders. Fast forward to 2021, and cryptocurrency has emerged as the new target.

According to Odaily, Japan's Financial Services Agency (FSA) has recently presented several proposals to the Financial System Council's Payment Services Working Group concerning cryptocurrencies and stablecoins. The FSA expressed reluctance to allow banks other than trust banks to issue stablecoins. For stablecoins issued by trust banks, the agency aims to relax the current reserve requirements, which mandate that all assets be held in the form of bank demand deposits. However, the FSA also intends to implement the travel rule, necessitating Know Your Customer (KYC) procedures for transfers of stablecoins issued by trust banks.Japan enacted stablecoin legislation in 2022, permitting banks, licensed remittance companies, and trust companies to issue stablecoins. As part of its presentation to the working group, the FSA differentiated between stablecoins issued on permissioned blockchains and those on public blockchains. The agency expressed satisfaction with stablecoins existing on permissioned chains but remained cautious about allowing licensed deposit-taking institutions to issue stablecoins on non-permissioned chains.

According to Odaily, Japan is contemplating the introduction of new lightweight legislation for cryptocurrency intermediaries that do not operate as exchanges. Recently, the Financial Services Agency (FSA) presented its ideas to the Financial System Council's Payment Services Working Group. In 2017, Japan implemented legislation for Crypto Asset Exchange Service Providers (CAESP), which covers the buying and selling of cryptocurrencies, acting as brokers, managing funds related to these services, or providing custody. However, many so-called introducers, who do not operate cryptocurrency exchanges, do not consider themselves as CAESP. As a result, the FSA is considering a proposal that would require these introducers to register as intermediaries. These intermediaries would be obligated to provide information to users, face advertising restrictions, and potentially be liable for damages if issues arise. The FSA is also evaluating how to handle damage compensation. Current regulations for other financial service intermediaries not part of larger groups require them to provide a margin to cover potential damages. If an intermediary is affiliated with a cryptocurrency exchange, the exchange might be responsible for covering damages.