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According to Cointelegraph, the United Kingdom is set to unveil a draft regulatory framework for crypto assets early next year, as announced by a Treasury official at the City & Financial Global’s Tokenisation Summit in London on November 21. The anticipated regulations, initially expected last summer, were delayed due to a general election that resulted in a change of government. The Labour government, led by Keir Starmer since July 5, 2024, will now present the new regulations.Economic Secretary to the Treasury, Tulip Siddiq, stated that the upcoming regulations will encompass stablecoins, staking services, and cryptocurrencies. Siddiq emphasized the simplicity and logic of addressing all aspects in a single phase. She noted that stablecoins do not align well with existing payment services regulations, and while legislation for stablecoins has been under discussion since October 2023, it was not anticipated before 2025. The crypto industry is particularly interested in ensuring that staking services are not classified as a "collective investment scheme," which would impose additional restrictions. Siddiq assured that the government intends to eliminate this legal ambiguity.The previous Conservative government had aimed to position the UK as a cryptocurrency hub, but the country has often been perceived as having a challenging regulatory environment. This perception is frequently attributed to the Financial Conduct Authority, an independent regulatory body. Meanwhile, the European Union's Markets in Crypto-Assets (MiCA) regulation is set to be fully implemented by the end of the year, providing regulatory clarity across the continent. In contrast, the UK appears less appealing to the crypto industry, especially with the United States' previous administration being seen as supportive of cryptocurrency. The former UK government had pledged new crypto regulations by July, but this was not realized. The Labour government's sole effort in crypto regulation so far has been a bill proposed in September to clarify the legal status of non-fungible tokens (NFTs), cryptocurrencies, and carbon credits by recognizing them as property.

According to BlockBeats, market sources indicate that Trump Media Technology Group is potentially exploring the introduction of a cryptocurrency payment service. This development comes amid growing interest and adoption of digital currencies across various sectors.The potential move by Trump Media Technology Group to enter the crypto payment space reflects a broader trend of companies seeking to leverage blockchain technology to enhance their service offerings. As digital currencies continue to gain traction, businesses are increasingly looking to integrate these payment options to cater to a tech-savvy customer base.While details about the specific nature of the crypto payment service remain scarce, the initiative could position Trump Media Technology Group as a significant player in the evolving digital economy. The company's interest in cryptocurrency aligns with a global shift towards digital financial solutions, driven by the need for faster, more secure, and cost-effective transactions.As the situation develops, stakeholders and industry observers will be keenly watching for further announcements from Trump Media Technology Group regarding their plans in the cryptocurrency sector. The potential launch of a crypto payment service could have implications for the company's business strategy and its role in the media and technology landscape.

According to Odaily, Elon Musk recently took to the X platform to propose a rather unconventional idea. He suggested that replacing the Federal Reserve with a Magic 8-Ball could result in significant cost savings. The Magic 8-Ball, known for providing random answers, is a toy that Musk humorously believes could serve as an alternative to the traditional financial institution.Musk further commented on the extensive number of federal agencies in the United States, which exceed 400. He mentioned having a meeting with a soon-to-be-established agency that remains unnamed. The reason for the lack of a name, he quipped, is that all the good acronyms have already been taken. This remark highlights Musk's characteristic blend of humor and critique regarding bureaucratic processes and the complexity of governmental structures.The comments from Musk, known for his innovative ideas and bold statements, have sparked discussions about the efficiency and necessity of existing federal institutions. While his suggestion of using a Magic 8-Ball is clearly made in jest, it underscores a broader conversation about the role and effectiveness of the Federal Reserve and other governmental bodies in managing economic policies. Musk's remarks often challenge conventional thinking, prompting both supporters and critics to engage in debates about potential reforms and innovations in governance.

According to Odaily, the IOST Foundation has announced that the voting deadline for the IOST PayFi+DePIN upgrade governance proposal is set for November 24. Initiated on October 21, this proposal aims to redefine IOST's position within the blockchain sector. Key highlights of the proposal include a comprehensive upgrade of tokenomics, ecosystem investment, and growth targets for 2025. 

According to BlockBeats, MicroStrategy's stock price experienced a significant increase in pre-market trading on November 21. The shares rose by 15.17%, reaching a price of $545.7. This surge reflects growing investor interest and confidence in the company's market position. 

According to CoinDesk, the U.S. District Court for the Northern District of Texas has invalidated the Securities and Exchange Commission's (SEC) rule that broadened the definition of a securities dealer to encompass more firms, including those in the cryptocurrency sector. This decision marks a significant legal setback for the SEC under Chair Gary Gensler, coinciding with his announcement of resignation effective January.The court's ruling came in response to a lawsuit filed by the Blockchain Association and the Crypto Freedom Alliance of Texas. The judge, Reed O’Connor, criticized the SEC for overstepping its legal boundaries, stating that the agency exceeded its statutory authority by implementing a broad definition of a dealer that was not aligned with the Exchange Act's text, history, and structure. Consequently, the court ordered the rule, finalized in February, to be discarded.An SEC spokesperson mentioned that the agency is reviewing the decision and will determine the appropriate next steps. The contested rule was part of several initiatives under Gensler's leadership aimed at asserting the SEC's regulatory authority over crypto businesses. The expanded dealer definition was criticized by the industry for being overly vague and imposing unrealistic demands on decentralized finance (DeFi) operations and crypto traders who did not provide dealer services.The swift legal response from the court represents a notable victory for the crypto industry against the SEC, which has been actively pursuing legal actions against the sector. In his resignation announcement, Gensler highlighted the agency's efforts to protect investors and its legal successes in enforcing securities laws, despite the challenges posed by the evolving crypto landscape.Kristin Smith, CEO of the Blockchain Association, hailed the court's decision as a triumph for the digital asset industry. She argued that the SEC's dealer rule was an unlawful attempt to extend its regulatory reach beyond the authority granted by Congress. With the court's ruling, the digital asset industry is shielded from what she described as an unlawful regulatory overreach by the SEC.

According to BlockBeats, on November 22, documents revealed that the U.S. Securities and Exchange Commission (SEC) has been urged to withdraw the broker rules that serve as the foundation for a lawsuit involving ConsenSys and decentralized finance (DeFi) exchanges. The request highlights ongoing tensions between regulatory bodies and the rapidly evolving DeFi sector, which operates on blockchain technology to facilitate financial transactions without traditional intermediaries.The call for revocation comes amid growing scrutiny of DeFi platforms, which have gained popularity for their ability to offer financial services without the need for centralized control. Critics argue that the SEC's current regulatory framework is ill-suited for the unique characteristics of DeFi, potentially stifling innovation and growth in the sector. Proponents of DeFi emphasize the importance of creating a regulatory environment that supports technological advancement while ensuring consumer protection and market integrity.This development is part of a broader debate on how best to regulate emerging financial technologies. As DeFi continues to expand, regulators worldwide are grappling with the challenge of balancing oversight with the need to foster innovation. The outcome of this case could have significant implications for the future of DeFi regulation in the United States and potentially influence global regulatory approaches.

According to Cointelegraph, the Consumer Financial Protection Bureau (CFPB), a financial regulatory body in the United States, has finalized its rules concerning the 'Larger Participant' criteria for digital payment platforms. Notably, the transfer of crypto assets has been excluded from this rule. The finalized regulation applies to digital wallets like Apple Pay and centralized peer-to-peer payment services, but only for transactions conducted in US dollars. The CFPB clarified that the definition of 'annual covered consumer payment transaction volume' is limited to transactions in US dollars, thereby excluding digital asset transfers, including cryptocurrencies such as Bitcoin and stablecoins, from the larger-participant test.Industry stakeholders, including research-based investment firm Paradigm and pro-crypto nonprofit organizations, successfully opposed the CFPB's initial proposal, which included digital asset transactions. The CFPB's focus on digital payment services began in September 2023, targeting platforms like Apple Pay, Google Pay, and peer-to-peer services such as Venmo. The agency expressed concerns about potential monopolistic practices by Big Tech firms that could marginalize smaller companies. Rohit Chopra, the director of the CFPB, also highlighted concerns regarding the monetization of consumer data by these companies.Initially, the CFPB proposed extending its oversight to include crypto wallet providers, but this move faced resistance from the crypto industry and lawmakers. In January 2024, US lawmakers sent a letter to the CFPB, opposing the rule due to its potential impact on cryptocurrencies. They emphasized that peer-to-peer transactions through self-hosted wallets are crucial for the digital asset ecosystem as they eliminate third-party risk. Despite the opposition, the CFPB appeared to reinforce its stance in April 2024 by targeting blockchain video games, citing concerns over in-game asset tokens being traded outside the gaming ecosystem on electronic exchanges.

According to Foresight News, Citron Research, a well-known short-selling firm, has raised concerns about the current trading dynamics of MicroStrategy (MSTR). The firm noted that investing in Bitcoin has become more accessible than ever, with options such as ETFs, COIN, and HOOD available to investors. Despite this increased accessibility, Citron Research believes that MSTR's trading volume has become disconnected from Bitcoin's fundamental value.While Citron Research maintains a positive outlook on Bitcoin itself, the firm has taken a cautious approach by establishing a short position in MSTR as a hedge. The firm expressed that even Michael Saylor, the CEO of MicroStrategy, must recognize that the company's stock is currently overheated. This move reflects Citron's strategy to mitigate potential risks associated with MSTR's current market behavior, despite their continued confidence in Bitcoin's long-term prospects.

On Nov 21, 2024, at 2:57 PM (UTC), according to Binance Market Data, BNSOL crossed the 255 USDT benchmark, achieving a new all-time high and is now trading at 256.5 USDT. 

According to BlockBeats, on November 21, monitoring by Trader T revealed that BlackRock's IBIT experienced a pre-market trading volume of $328 million. Of this total, 38% consisted of active buy orders, while 43% were active sell orders. 

According to Foresight News, Coindesk reports that Mastercard's Multi-Token Network (MTN) has integrated with JPMorgan's digital asset network, Kinexys, formerly known as Onyx. This collaboration aims to enhance blockchain-supported foreign exchange payments by improving transparency and settlement speed in B2B cross-border transactions, while also reducing friction caused by time zone differences.The integration of MTN with Kinexys allows joint customers of both networks to settle B2B transactions through a single API. This streamlined process is expected to facilitate more efficient and transparent cross-border payments, leveraging blockchain technology to address common challenges in the foreign exchange market. By connecting these two digital payment networks, the partnership seeks to offer a more seamless experience for businesses engaged in international trade, ultimately benefiting from faster and more reliable transaction settlements.

According to Odaily, Arkham's monitoring has revealed that the BlackRock BUIDL Fund transferred 2.972 million USDC to Ondo Finance within the past two hours. This significant transaction highlights ongoing financial movements within the cryptocurrency sector, reflecting the dynamic nature of digital asset management. 

According to PANews, the IOST Foundation has announced that the voting deadline for its PayFi and DePIN upgrade governance proposal is set for November 24. This proposal, initiated on October 21, aims to redefine IOST's position within the blockchain sector. The foundation is encouraging all community members to actively participate in the voting process. 

According to Odaily, the number of initial unemployment claims in the United States for the week ending November 16 reached 213,000, marking the lowest level since the week ending April 27, 2024. This figure fell short of the expected 220,000 claims and was a decrease from the previous week's revised count of 219,000, which was initially reported as 217,000.The four-week moving average of initial claims, which smooths out weekly volatility, was reported at 217,750, slightly down from the previous week's revised average of 221,500, initially recorded as 221,000. This decline in initial claims suggests a strengthening labor market, as fewer individuals are seeking unemployment benefits.In contrast, the number of continuing unemployment claims for the week ending November 9 was reported at 1.908 million, exceeding the anticipated 1.873 million. The previous week's figure was revised from 1.873 million to 1.872 million. The increase in continuing claims indicates that while fewer people are filing for initial benefits, those already receiving unemployment assistance are taking longer to find new employment opportunities.

According to Odaily, the dollar has experienced an increase following the U.S. presidential election, and it is anticipated to continue trading within a higher range. Analysts at ING, including Chris Turner, have indicated in a report that the market is preparing for a potential second term for President Trump. As a result, expectations for a Federal Reserve rate cut in December have diminished.Turner noted that the economic developments in overseas markets are "far from encouraging." He also mentioned that U.S. economic data, including initial jobless claims, is unlikely to significantly impact the market. Consequently, the dollar index is expected to maintain its position within the new range of 106-107. This outlook reflects the current market sentiment and the anticipated economic conditions in the near future.

According to BlockBeats, on November 21, the Sui Network experienced an outage, resulting in no blocks being produced for over an hour. This incident appears to have impacted the market, as the price of SUI saw a sharp decline of over 5% in a short period. At the time of reporting, SUI was trading at approximately $3.378.The unexpected downtime of the Sui Network has raised concerns among investors and users, as network stability is crucial for maintaining confidence in blockchain platforms. The outage highlights the importance of robust infrastructure and reliable performance in the rapidly evolving cryptocurrency landscape. As the market reacts to such events, the volatility of digital assets like SUI can be significantly affected, underscoring the need for continuous monitoring and improvements in network operations.