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According to Cointelegraph, the United States Securities and Exchange Commission (SEC) has postponed its decision on the approval of the Franklin Templeton Crypto Index ETF until early 2025. In a letter dated November 20, the SEC stated that it had not received any comments following the publication of the proposed rule change in the Federal Register on October 8, 2024. The regulatory body emphasized the need for additional time to thoroughly evaluate the proposed rule change and the associated issues, setting January 6, 2025, as the new deadline for a decision. The delay in the SEC's decision has left the industry in anticipation, as crypto index ETFs are seen as a significant development for digital asset markets. In August, Franklin Templeton submitted its application for a crypto index ETF, with industry experts like Katalin Tischhauser from Sygnum crypto bank highlighting the potential benefits. Tischhauser noted that index ETFs allow investors to gain market exposure without the need to select individual assets, thereby reducing the risk of costly mistakes. This approach has contributed to the popularity of stock indexes such as the S&P 500. Franklin Templeton is not alone in its pursuit of launching a crypto index ETF in the United States. In October, the New York Stock Exchange expressed interest in listing Grayscale's crypto index ETF and sought regulatory approval for trading. By November, US regulators were reportedly considering the listing of the Grayscale ETF. The approval of such an ETF would be a landmark event in the US, potentially unlocking new capital flows into the digital asset markets, akin to the impact of Bitcoin and Ether ETFs approved earlier in 2024.

According to PANews, the Swiss Financial Market Supervisory Authority (FINMA) has expressed concerns over the increasing risks of money laundering within the cryptocurrency sector. In its 2024 risk monitoring report, FINMA detailed these warnings, emphasizing the growing misuse of digital assets such as cryptocurrencies and stablecoins for illegal activities. The report highlights that stablecoins are increasingly being used for illicit transactions, including sanction evasion. This trend complicates law enforcement efforts and heightens the legal and reputational risks for financial institutions lacking robust risk management strategies. The regulatory body stressed the need for stronger measures to address vulnerabilities associated with the misuse of digital assets. To mitigate these risks, FINMA has implemented measures targeting institutions, including focused supervision and enhanced risk management requirements. Broader efforts involve on-site inspections and revised audit plans aimed at bolstering anti-money laundering defenses. The regulator also called for the establishment of clear risk tolerance definitions and effective risk management practices, particularly for institutions dealing with politically exposed persons or clients from high-risk industries.

According to Odaily, South Korea's financial regulatory authorities have prohibited the issuance of cryptocurrency exchange-traded funds (ETFs) for both spot and futures products. Additionally, they have rejected funds investing in cryptocurrency companies, including exchanges. A representative from an asset management company revealed that they have been preparing to launch a fund focused on virtual asset companies since the end of last year, but have yet to receive approval from local regulators. Meanwhile, an official from the Financial Supervisory Service (FSS) acknowledged the growing demand for Bitcoin investments. However, the official stated that unless there is a change in the current government policies, regulatory restrictions will remain in place. This stance reflects the cautious approach South Korean authorities are taking towards the rapidly evolving cryptocurrency market, balancing the increasing interest in digital assets with the need for regulatory oversight to protect investors and maintain financial stability.

According to Foresight News, South Africa's Financial Intelligence Centre has issued Directive 9, mandating digital asset platforms to gather and store identity information related to cryptocurrency transactions. This directive, set to take effect on April 30, 2025, aims to assist South Africa in being removed from the Financial Action Task Force's (FATF) grey list. Being on this list can harm the country's reputation, increase financial transaction costs, and raise borrowing expenses. The directive requires that the full names and wallet addresses of both parties involved in a transaction be recorded, with stricter requirements for transactions exceeding $277 (5,000 Rand). Sean Sanders, CEO of Altify, expressed support for regulatory developments but questioned the $277 threshold, noting it as one of the lowest globally.

According to Odaily, South Korea's ruling party is moving forward with plans to implement a tax on cryptocurrency gains starting in early 2025, opting not to approve further delays. Initially, a 20% tax on cryptocurrency profits, with an additional 2% local tax, was set to take effect on January 1, 2022. However, due to strong opposition from investors and the industry, the implementation was postponed twice, now scheduled for January 1, 2025. The ruling party is currently revising the plan to increase the tax exemption threshold for cryptocurrency gains. Originally, gains below 2.5 million Korean won (approximately $1,795) were exempt from taxation. The proposed revision aims to raise this exemption limit to 50 million Korean won (around $35,919). This adjustment reflects the government's response to the concerns of investors and industry stakeholders, who have been vocal about the potential impact of the tax on the burgeoning cryptocurrency market in South Korea. The decision to move forward with the taxation plan underscores the government's commitment to regulating the cryptocurrency sector while balancing the interests of investors. By increasing the exemption threshold, the ruling party seeks to alleviate some of the financial burdens on smaller investors, potentially fostering a more favorable environment for cryptocurrency trading and investment. As the implementation date approaches, stakeholders in the cryptocurrency industry will be closely monitoring any further developments or adjustments to the proposed tax regulations.

According to Odaily, the Hong Kong Legislative Council's Subcommittee on Web3 and Virtual Asset Development convened a meeting recently. During the session, Zhang Manli, the Deputy Secretary for Innovation, Technology and Industry of Hong Kong, highlighted the government's ongoing efforts to introduce a regulatory framework for stablecoin issuers. This initiative is part of a broader strategy to enhance the region's position as a hub for stablecoin and virtual asset trading. In addition to launching an index to track virtual currencies, the Hong Kong Special Administrative Region (HKSAR) government is actively researching legislative proposals aimed at regulating stablecoin issuers. Zhang indicated that the framework is expected to be presented to the Legislative Council later this year. The proposal aims to ensure that fluctuations in stablecoin prices are accurately reflected in the index, thereby supporting the development of a robust trading center for stablecoins and virtual assets in Hong Kong. Zhang also mentioned plans to collaborate further with the Financial Services and the Treasury Bureau, as well as the Hong Kong Monetary Authority, to refine the regulatory approach. This collaboration is crucial to align the regulatory framework with the dynamic nature of the virtual asset market, ensuring that Hong Kong remains at the forefront of financial innovation and stability in the digital currency sector.

According to ShibDaily, the U.S. Department of Justice (DOJ) is reportedly preparing to request a federal judge to mandate Google to divest its Chrome web browser as part of an antitrust case. This move aims to dismantle Google's dominance in the browser market and create a more competitive environment for other companies. In August 2024, federal judge Amit Mehta ruled against Google's search monopoly, stating that the company has acted to maintain its monopolistic status. This development is the latest in the DOJ's ongoing antitrust proceedings against Google, following a $700 million settlement in a separate lawsuit that required app developers to use Google's payment system on the Google Play Store.The DOJ's request extends beyond the Chrome browser, targeting Google's Android operating system and its activities in artificial intelligence, with the goal of reducing the company's influence across these key markets, as reported by Bloomberg. The antitrust lawsuit, initially filed in October 2020 by the DOJ and 11 state attorneys general, seeks to prevent Google from employing anticompetitive and exclusionary practices to maintain its monopolies in the search and search advertising sectors, which allegedly harm competition. The complaint accuses Google of using anticompetitive tactics that disadvantage competitors and consumers, stifling innovation and limiting opportunities for new entrants in the market.A monopoly in the Google Chrome browser could have significant consequences for competition, innovation, and consumer choice. One major concern is the potential for biased search results, where a dominant search engine might prioritize its own products and services, thereby limiting visibility for competitors and reducing consumer access to diverse information sources. Additionally, advertising costs could be impacted, as a monopoly allows the dominant player to set higher prices for search ads, which can burden businesses, particularly smaller ones, and lead to increased costs for consumers.Data privacy is another critical issue, as a monopolist can collect and exploit vast amounts of user data, raising concerns about surveillance and potential misuse of personal information. In response, DOJ officials plan to request Judge Mehta to require Google to license search results and data from its Chrome browser. They also intend to ask the court to grant websites more control over preventing their content from being scraped by Google's artificial intelligence tools. Antitrust laws, such as the Sherman Antitrust Act of 1890, play a vital role in curbing monopolistic practices in the tech industry, particularly in the search engine market, by enforcing rules that promote fair competition.

According to CoinDesk, U.S. President-elect Donald Trump is considering Howard Lutnick, CEO of Cantor Fitzgerald, for the position of Commerce Secretary. Lutnick, known for his enthusiasm for cryptocurrency, has been a key figure in managing Tether's (USDT) substantial U.S. Treasury holdings. While initially a contender for the Treasury Secretary role, recent reports indicate that Lutnick's prospects for that position have diminished, leading to his potential nomination for the Commerce role.Cantor Fitzgerald, under Lutnick's leadership, has established itself as a significant player in the financial sector, particularly in the bond market. The firm is recognized as a primary dealer, allowing it to trade directly with the Federal Reserve. Since 2021, Cantor Fitzgerald has been involved in the cryptocurrency space, assisting Tether with its U.S. Treasury reserves and launching a bitcoin financing business with an initial $2 billion in funding. Lutnick has publicly expressed his support for bitcoin, distinguishing it from other cryptocurrencies and advocating for its treatment as a commodity to minimize regulatory oversight.Lutnick, a long-time associate of Trump and a New Yorker, is currently serving as co-chair of Trump's transition team. His firm, Cantor Fitzgerald, has a storied history, having lost 658 employees during the 9/11 attacks, which led to a shift towards electronic trading. This transition reflects a broader trend on Wall Street, where traditional financial practices are increasingly being challenged by innovations in cryptocurrency and blockchain technology.

According to BlockBeats, a U.S. court has announced a delay in the verdict date for the case involving former President Donald Trump and the alleged hush money payments. Originally scheduled for November 19, the decision has been postponed to November 26. This case has drawn significant public attention due to its implications for Trump's legal and political future.The postponement comes amid ongoing legal proceedings and discussions surrounding the case. The delay allows for additional time to review evidence and arguments presented by both the prosecution and defense teams. The case centers on allegations that Trump made payments to silence individuals regarding personal matters during his presidential campaign, which has raised questions about campaign finance violations and ethical conduct.Observers are closely watching the developments, as the outcome could have far-reaching consequences for Trump's potential candidacy in future elections. The legal team representing Trump has consistently denied any wrongdoing, arguing that the payments were personal transactions unrelated to campaign activities. As the new verdict date approaches, both sides are preparing to present their final arguments in court.The delay in the verdict date underscores the complexity and high stakes of the case, which continues to capture national and international interest. Legal experts suggest that the outcome could set a precedent for how similar cases are handled in the future, particularly concerning the intersection of personal conduct and political campaigns. As the legal proceedings unfold, the public remains attentive to the implications of the court's eventual decision.

According to Odaily, the Central Bank of Brazil (BCB) has initiated the second phase of its Drex Central Bank Digital Currency (CBDC) pilot. This phase emphasizes the development of trade finance solutions utilizing blockchain technology and oracles. The initiative brings together major players such as Microsoft, Chainlink, and Banco Inter to collaborate on exploring automated trade settlements.The Drex CBDC pilot aims to leverage cutting-edge technology to enhance the efficiency and security of trade finance processes. By integrating blockchain and oracle solutions, the project seeks to streamline operations and reduce the complexities associated with traditional trade finance systems. This collaboration marks a significant step forward in Brazil's efforts to modernize its financial infrastructure and embrace digital currency innovations.The involvement of prominent technology and financial institutions underscores the potential impact of this initiative. Microsoft and Chainlink bring their expertise in blockchain and oracle technologies, while Banco Inter contributes its financial industry insights. Together, they aim to create a robust framework for automated trade settlements, potentially setting a precedent for future CBDC implementations worldwide. As the pilot progresses, it will provide valuable insights into the practical applications of blockchain in central banking and trade finance.

According to Foresight News, Blockchain Association Executive Director Kristin Smith has called on SEC Chairman Gary Gensler to immediately cease enforcement actions against cryptocurrency companies. Smith advocates for a focus on a structured transition that would allow Gensler's successor to implement a regulatory framework aligned with congressional intent and market realities. She highlighted that the U.S. Securities and Exchange Commission's (SEC) regulatory actions have resulted in American companies incurring over $400 million in legal defense costs. This figure underscores the excessive regulation of the crypto industry during Gensler's tenure. A recent poll conducted by the Blockchain Association and HarrisX reveals that two-thirds of voters support Congress, rather than unelected regulatory bodies, in establishing rules for the cryptocurrency market. It is noteworthy that the crypto industry targeted by the SEC represents only 0.25% of the global market. However, the enforcement actions have led to the migration of innovation, job opportunities, and economic development overseas.

According to Foresight News, former NBA star Shaquille O'Neal has agreed to a $11 million settlement in a lawsuit involving Astral NFTs and Galaxy tokens. The settlement covers the plaintiffs' legal fees and provides cash payments to NFT and token purchasers. The agreement is pending approval from a judge.Previously, Foresight News reported that O'Neal faced a lawsuit for promoting cryptocurrencies. The class-action lawsuit, filed in a federal court in Florida, accused O'Neal of endorsing unregistered Astral tokens, which allegedly violated securities laws. The lawsuit claimed that O'Neal repeatedly promoted Astrals NFTs on his various social media accounts, leading to a significant decline in the value of the related tokens and NFTs.

According to BlockBeats, a federal court in the Northern District of California has ruled that Lido DAO can be classified as a general partnership under state law. This decision dismisses Lido's claim that it is not a legal entity, setting a precedent for how profit-driven decentralized autonomous organizations (DAOs) are treated legally.The court further determined that identifiable participants in Lido DAO are involved in managing its operations, meaning they cannot evade responsibility through its decentralized structure. Court documents indicate that Paradigm Operations, Andreessen Horowitz, and Dragonfly Digital Management are accused of being general partners due to their alleged active participation in Lido's governance and operations.Miles Jennings, the general counsel and head of decentralization at a16z crypto, expressed concern over the ruling, stating that it deals a significant blow to decentralized governance. He highlighted that, according to the decision, any involvement in a DAO, even something as minor as posting on a forum, could be enough to hold DAO members accountable for the actions of other members under general partnership laws.

According to Odaily, former Acting Comptroller of the Currency under the Trump administration, Brian Brooks, is reportedly exploring opportunities in various financial institutions, excluding the Commodity Futures Trading Commission (CFTC). This information was shared by FOX Business journalist Eleanor Terrett on social media platform X, citing sources familiar with the matter.In addition to the CFTC, the United States hosts several other key financial regulatory bodies. These include the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Financial Industry Regulatory Authority (FINRA), the Financial Stability Oversight Council (FSOC), and the Federal Reserve. Brooks's consideration of roles within these institutions highlights the dynamic landscape of financial regulation and the potential for experienced leaders to influence policy and oversight across different sectors.Brooks's tenure as Acting Comptroller was marked by significant regulatory initiatives, and his potential involvement in other financial regulatory bodies could bring a wealth of experience and insight. As the financial industry continues to evolve, the roles and responsibilities of these regulatory agencies remain crucial in maintaining stability and fostering innovation. The exploration of such positions by seasoned professionals like Brooks underscores the ongoing need for leadership that can navigate the complexities of financial oversight and regulation.

According to Odaily, Kraken's UK Managing Director, Bivu Das, has forecasted that 2025 will be a pivotal year for cryptocurrency adoption. Das anticipates that the number of UK residents who have used or are currently using digital assets will exceed 17 million, representing approximately 25% of the country's total population. He suggests that the volatility of established cryptocurrencies like Bitcoin will decrease, even as their prices continue to rise due to increasing institutional demand.Das also predicts a growing interest among UK workers in pursuing careers within the cryptocurrency industry. In response to this trend, universities are expected to introduce specialized courses in cryptocurrency to nurture the next generation of talent. Furthermore, Das highlights a significant development in the financial sector, noting that UK pension funds are allocating 3% of their portfolios to Bitcoin for the first time. This move signals that London's financial district is poised to embrace digital assets, setting the stage for broader acceptance and integration of cryptocurrencies in the UK's financial landscape.

According to Odaily, the Swiss Financial Market Supervisory Authority (FINMA) has identified digital assets as a high-risk area for money laundering in its latest risk monitoring report. The report highlights the vulnerabilities of digital assets, noting their use in financial crimes such as sanction evasion. It underscores the importance of robust regulatory oversight to mitigate these risks.The report points out that cryptocurrencies, particularly stablecoins, are increasingly associated with money laundering and other illegal activities, including sanction evasion and darknet transactions. This trend has heightened concerns among financial regulators. FINMA stated that it has implemented measures targeting institutions to reduce the money laundering risks associated with digital assets.Swiss financial intermediaries offering crypto-related services are now under stricter scrutiny to manage these risks. FINMA added that inadequate risk mitigation in this sector could endanger individual institutions and pose reputational risks to the entire Swiss financial industry.

According to Odaily, Russia's Ministry of Finance introduced a draft amendment on Monday, proposing a 15% tax on cryptocurrency earnings. This initiative is part of a broader effort to regulate cryptocurrency mining and trading activities. The proposed changes aim to reshape the tax framework for cryptocurrency miners, impacting their income, expenses, and related infrastructure.Under the proposed amendment, income from mined tokens will be taxed at market value upon receipt. Miners will be allowed to deduct operational expenses, ensuring a balanced tax calculation. Additionally, cryptocurrencies will be classified as property for taxation purposes. The new framework also eliminates the value-added tax (VAT) on cryptocurrency transactions, aligning the taxation of income from these transactions with that of securities trading.The proposed regulations also impose obligations on operators of mining infrastructure. These operators will be required to inform tax authorities about individuals using their facilities for mining activities. However, the specific data that needs to be disclosed remains unclear.

According to Odaily, recent data from Polymarket indicates that the probability of former Federal Reserve Governor Kevin Warsh being appointed as the U.S. Treasury Secretary by Donald Trump has risen to 46%, making him the leading candidate. In comparison, the likelihood of Scott Bessent receiving the appointment has decreased to 27%, while Howard Lutnick's chances have fallen to 9%. The total amount wagered on this event has surpassed $2 million.Previously, sources familiar with the matter revealed that Trump's team is in favor of Kevin Warsh for the Treasury Secretary position, and discussions are ongoing. This development highlights the significant interest and speculation surrounding the potential appointment, as evidenced by the substantial betting activity on Polymarket. The outcome of this appointment is eagerly anticipated, given its potential impact on U.S. economic policy and financial markets.

According to CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) is embroiled in a legal dispute with prediction market operator Kalshi over the regulation of election betting. Kalshi contends that only Congress has the authority to ban election betting, not the CFTC. This argument was presented in a recent court filing as part of an ongoing legal battle. Last September, the CFTC attempted to prevent Kalshi from listing event contracts that allowed traders to bet on political party control of the House or Senate following the November elections. The regulator claimed these contracts constituted "gaming" and were "unlawful under state law," deeming them "contrary to the public interest." Kalshi responded by suing the CFTC in the District of Columbia, arguing that the agency overstepped its statutory authority and violated the Administrative Procedure Act (APA) by attempting to ban election prediction markets. In its latest filing, Kalshi criticized the CFTC's interpretation of "gaming," describing it as arbitrary and lacking statutory basis. The District Court sided with Kalshi, with Judge Jia Cobb granting summary judgment in favor of Kalshi and rejecting the CFTC's broad interpretation of the Commodity Exchange Act (CEA). Cobb's decision vacated the CFTC's order blocking Kalshi's contracts. Following Cobb's ruling, the CFTC sought a stay of the order while it appealed, but Cobb declined. The regulator then approached a U.S. federal appeals court to temporarily block the election-related contracts, but the court unanimously denied the CFTC's emergency motion, citing a lack of concrete evidence that election contracts could harm the public interest. The CFTC is now officially appealing Cobb's ruling, aiming to expand the definition of gaming to include "political contests," which would effectively ban election betting if successful. In its brief filed on Friday, Kalshi reiterated its arguments from the lower court, urging the appellate court to uphold Cobb's ruling. Kalshi's lawyers argued that the CFTC's decision to prohibit its contracts exceeded its statutory authority, emphasizing that Congress has not authorized the CFTC to ban election prediction markets. The CFTC's response to Kalshi's brief is expected by December 6.

According to Cointelegraph, a coalition of eighteen U.S. states has initiated legal action against the Securities and Exchange Commission (SEC) and its Chair, Gary Gensler, accusing the agency of "gross government overreach" in its dealings with the cryptocurrency sector. The lawsuit claims that the SEC has overstepped its bounds by attempting to usurp regulatory authority from the states through its enforcement actions against various crypto entities. The states involved in the lawsuit include Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, Nebraska, Tennessee, Wyoming, among others. In another development, the New York State Supreme Court has ruled in favor of Greenidge Generation, allowing the company to continue its Bitcoin mining and power generation operations at its New York facility. This decision also permits Greenidge to reapply for and potentially renew its Clean Air Act Title V Air Permit, which was previously denied by the Department of Environmental Conservation (DEC) in June 2022. While the court upheld the DEC's authority to deny the permit under state climate laws, it criticized the DEC for acting capriciously. However, it noted that Greenidge failed to prove that the DEC engaged in improper policymaking. Meanwhile, Joe Lubin, CEO of Consensys, expressed optimism about the future of crypto regulation under the administration of President-elect Donald Trump. Lubin suggested that the ongoing legal battles between the SEC and crypto companies might diminish, with many cases potentially being dismissed or settled. He emphasized that while not all cases may be resolved, the industry could save significant financial resources as it progresses. Lubin also remarked on the Trump administration's proactive approach, describing Trump as a "pretty good politician" who is adept at capturing and advancing prevailing trends. Additionally, Scott Hartman, a U.S. prosecutor from New York, indicated a potential reduction in the number of crypto-related cases pursued by his office. Speaking at the Practicing Law Institute’s 56th Annual Institute on Securities Regulation event on November 15, Hartman noted that fewer resources are being allocated to crypto cases in the Southern District of New York. He acknowledged the presence of numerous significant fraud cases but highlighted that their regulatory partners are increasingly active in the cryptocurrency space.