Today's news tips:
1. Russian President Putin signs law on digital currency taxation
2. Japan's Financial Services Agency issues warnings to five unregistered overseas cryptocurrency exchanges
3.Fox Business: New York regulators will approve Ripple to issue stablecoin RLUSD
4. XRP's market value surpasses Intel and rises to 189th place in the global asset market value ranking
5. Pump.fun’s commission income has reached $368 million, an average of $1.54 million per day
6. Hyperliquid currently airdrops over 274 million HYPE, with an average of 2,905 per address
7.smartestmoney.eth transferred 1.307 million EIGEN to Binance, and if sold, it would make a profit of $1.84 million
Regulation & Policy
Russian President Putin Signs Law on Cryptocurrency Taxation
According to TASS, Russian President Vladimir Putin signed a law on digital currency taxation, which clearly defines digital currency as property. According to the new law, the mining and sale of digital currencies will be exempt from value-added tax (VAT), and cross-border settlement services will also enjoy tax exemption. However, mining service providers are required to report user information to the tax authorities, and those who fail to report in time will be fined 40,000 rubles.
The digital currency obtained through mining is taxed at market price, with a progressive tax rate of 13%-15%. Enterprises will be subject to a 25% corporate income tax on digital currency mining starting from 2025. The law also restricts the use of special tax policies such as simplified tax systems. The law will take effect from the date of promulgation, and some provisions will have a transition period.
It was reported yesterday that Russia passed a cryptocurrency tax law, redefining the rules for digital currencies.
Japan's Financial Services Agency warns 5 unregistered overseas cryptocurrency exchanges
According to CoinPost, the Japanese Financial Services Agency has issued warnings to five unregistered overseas cryptocurrency exchanges, including KuCoin, bitcastle LLC, Bybit Fintech Limited, MEXC Global, and Bitget Limited.
The Financial Services Agency pointed out that these exchanges provided cryptocurrency trading services to Japanese users without permission, violating Japanese regulations on crypto asset trading. Since unregistered exchanges are not regulated by the Financial Services Agency, the management and security of their customer assets cannot be guaranteed. In the event of a dispute or accident, users may not be able to obtain legal protection, and are not subject to asset preservation or compensation mechanisms under Japanese law.
Project News
Binance has suspended Gifto (GFT) deposits and updated the delisting date
Binance announced that due to potential security issues in the GFT smart contract, in order to protect users, the deposit of Gifto (GFT) has been suspended on November 29, 2024. If it is confirmed to be safe, Binance may reopen the deposit of GFT, but no further announcement will be made.
Binance has decided to stop trading and delist Gifto (GFT) at 16:00 (ET) on December 3, 2024.
The first Jupuary governance vote did not reach 70% support, and the new proposal vote will be held early next week
Jupiter co-founder Meow said on the X platform that the first Jupuary vote has ended and the vote failed to reach the 70% required for passage, with 58% in favor and 42% against. 364 million JUP participated in the vote, of which the number of verified voting feedbacks reached 12,000, many of which were long and detailed. Since an absolute majority of 70% is sought, a second vote will be held. The new proposal vote is scheduled for early next week. Here is the plan for the next few days:
Review feedback from all sources
Address all major areas of concern and objections
Propose new proposals that can be supported
According to previous news, the first Jupuary vote will open on November 25, seeking 70% support.
Fox Business: New York regulators will approve Ripple to issue stablecoin RLUSD
According to FOX Business, citing people familiar with the matter, New York's top cryptocurrency regulator is about to approve a new stablecoin RLUSD issued by cross-border payment company Ripple. People familiar with the matter said that the New York Department of Financial Services has told Ripple that it will approve the product, and the company plans to launch the product on December 4. If approved, Ripple will be able to legally offer its stablecoin called RLUSD to the public, making it a major player in New York's regulated digital financial market and the broader stablecoin ecosystem.
Curve Partners with Elixir to Bring BlackRock’s BUIDL to DeFi
Curve has partnered with blockchain network Elixir to expand access to decentralized finance (DeFi) for the BlackRock Tokenized Money Market Fund (BUIDL). Users will soon be able to mint Elixer’s yield-generating stablecoin deUSD using BlackRock BUIDL. deUSD is backed by a combination of stETH and U.S. Treasuries (via MakerDAO’s USDS Treasury protocol).
XRP's market value surpasses Intel and rises to 189th place in the global asset market value ranking
According to Infinite Market Cap data, as XRP's market value exceeded US$100 billion, it continued to set a new record high. It has surpassed Intel and BYD in the global asset market value rankings and rose to 189th place.
Pump.fun’s fee income has reached 368 million US dollars, with an average of 1.54 million US dollars per day
According to @ai_9684xtpa, Pump.fun's fee income has reached 368 million US dollars, an average of 1.54 million US dollars per day; the total number of deployed tokens is 4,038,775, with an average of 16,898 new tokens per day; the number of monthly transactions is 388 million, nearly twice the total of other DEXs. Binance has accelerated the listing of Memecoin since October. As of now, 42.85% of the 14 Memes (including spot and futures) launched are Pump.fun tokens, while this proportion in the SOL network is as high as 85.71%.
Hyperliquid currently airdrops over 274 million HYPE, with an average of 2,905 per address
According to ASXN data, Hyperliquid has airdropped a total of 274,153,917.65 HYPE tokens to 94,028 wallets; the average airdrop is 2915.66 HYPE tokens, and the median is 64.53 HYPE tokens. Based on the current HYPE price of $6.88, each address has received an average of nearly $20,000 worth of tokens airdropped.
Important data
Bitcoin spot ETF had a net inflow of US$320 million yesterday, and the ETF net asset ratio reached 5.47%
Ethereum spot ETF had a net inflow of US$333 million yesterday, reaching a record high
Tether minted another 1 billion USDT, and a total of 18 billion USDT has been issued this month
According to Whale Alert, Tether Treasury issued 1 billion USDT (about 1.001 billion USD) today. Since November 8, Tether has issued 14 billion USDT. This month, 18 billion USDT has been issued.
Two dormant addresses containing 404 BTC and 429 BTC were activated after 10.9 years
According to Whale Alert, two dormant addresses containing 404 BTC (US$39,330,452) and 429 BTC (US$41,707,628) were activated after 10.9 years.
A smart money who traded ETH sold 366.5 WBTC 7 hours ago, losing $239,000
According to on-chain analyst Ember, smart money that had made 17 rounds of ETH swings bought 366.5 WBTC for the first time at $97,751 on November 24. These WBTC were all sold at an average price of $97,103 7 hours ago, resulting in a loss of $239,000.
A certain address made more than 100 ETH in profits by trading FAI on Base within 2 days
Lookonchain monitored that a trader turned $153,000 into $1.29 million on Base in just 2 days. A trader spent 4.2 ETH (15,300 USD) to buy 253.63 million FAI 2 days ago, and then sold 91.8 million FAI at 106.2 ETH (384,000 USD), leaving 161.8 million FAI (911,000 USD).
smartestmoney.eth transferred 1.307 million EIGEN to Binance, and would make a profit of $1.84 million if sold
On-chain analyst Ember monitored that smartestmoney.eth transferred all 1.307 million EIGEN (US$5.09 million) bought at the beginning of the month to Binance 15 minutes ago. He bought 1.307 million EIGEN at an average price of US$2.54 at the beginning of the month, and then held it until the current price of US$3.95. If sold, his investment in EIGEN will make a profit of US$1.84 million (+55%).
