1. Russian President Vladimir Putin signs digital currency tax law
Russian President Vladimir Putin has signed a law on taxing digital currencies, which recognizes digital currencies as property and applies them to foreign trade payments under the EPR framework. Mining and selling digital currencies are not subject to VAT, and trading services within the EPR framework are also tax-free. Mining operators are required to report relevant services to the tax authorities. Digital currencies obtained by individuals through mining are included in income at market value and taxed at a progressive rate of 13%-15%; companies engaged in mining will be subject to 25% corporate income tax from 2025. Income from the sale and circulation of digital currencies is also included in the unified tax base management.
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2. Ethereum Foundation researcher: The Ethereum Foundation is investing tens of millions of dollars into zkVM.
Ethereum Foundation researcher Justin Drake tweeted that the Ethereum Foundation is investing tens of millions of dollars into zkVM, which includes zkRISC-V formal verification, Poseidon cryptanalysis, and L2beat for zkVMs.
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3. Dilation Effect Reminder: Hacker attacks tend to peak at the end of the year.
The end of the year is a time when employees tend to take concentrated vacations, leading to a shortage of personnel in many IT and security teams; when attacks occur, security alerts may be ignored, giving attackers more time to carry out further actions; year-end is often a time for system updates, maintenance, or architectural adjustments, which may expose more security vulnerabilities, and newly deployed systems may not have undergone sufficient security testing, making them easier targets for attacks; users tend to be more relaxed during the holidays and may overlook cybersecurity threats, making them more susceptible to social engineering attacks, while the holiday atmosphere makes people more likely to believe in phishing information related to "year-end activities" and "coupons"; the year-end holiday is the best time for hacker teams and online scam groups to achieve results, as they continue to work in closed and pressured environments, with strict discipline and clear goals, maintaining their "combat readiness".
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4. Coinbase will stop the European USDC rewards program on December 1.
Due to the upcoming crypto asset market (MiCA) regulations, Coinbase will stop offering rewards to USDC holders located in the European Economic Area (EEA) on December 1. Coinbase stated that this move is a result of the new requirements for electronic money tokens. Users will continue to accumulate earnings on their USDC balances until November 30 and will be paid within the first 10 working days of December. Coinbase's USDC rewards program is available in over 100 jurisdictions. It generates daily earnings based on the user's USDC balance on the exchange, with annual percentage yields (APY) varying by region.
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5. Taiwan's new cryptocurrency anti-money laundering rules will take effect on November 30.
One month earlier than initially planned, as the regulator is accelerating anti-fraud efforts. The new rules require crypto service providers, such as crypto exchanges, to complete anti-money laundering compliance registration. Non-compliance may result in penalties, including up to two years of imprisonment and fines of up to NT$5 million (approximately US$153,700). The FSC stated that overseas "Virtual Asset Service Providers" (VASP) must establish a company or branch under Taiwanese company law and complete the necessary anti-money laundering registration before doing business in Taiwan. These new regulations were introduced after the regulator amended the law in July.
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