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According to PANews, the South Korean Democratic Party has expressed opposition to the government's proposal to delay the implementation of the virtual asset capital gains tax by two years. Party spokesperson Noh Jong-myun stated their stance against the suggested postponement, which contrasts with recent reports indicating a growing likelihood of deferring the crypto tax implementation to 2027. The Democratic Party's opposition highlights a significant divergence from the government's approach, as discussions around the taxation of virtual assets continue to evolve. The proposal to delay the tax has been a topic of debate, with proponents arguing for more time to prepare the necessary infrastructure and regulations. However, the Democratic Party insists on adhering to the original timeline, emphasizing the importance of establishing a clear tax framework for virtual assets. This development comes amid increasing global scrutiny of cryptocurrency regulations, as governments worldwide grapple with the challenges of integrating digital assets into existing financial systems. The Democratic Party's firm stance underscores the ongoing debate within South Korea regarding the appropriate timing and structure of crypto taxation, reflecting broader concerns about regulatory clarity and market stability.

According to ShibDaily, Thai authorities have arrested four foreign nationals in connection with a cryptocurrency robbery in Phuket. The suspects, identified as Armenian national Arman, 21; Ukrainian nationals Alfred, 18, and Ruslan, 22; and Russian national Mraz, 21, were apprehended at a hotel in Phang Nga Province on November 11. The arrests were made by Phuket’s Kamala Police with the assistance of the Tourist Police, following a warrant issued by the Phuket Provincial Court. The charges include armed robbery, unlawful detention, and coercion.The incident occurred on November 8 when a 23-year-old Ukrainian tourist named Viacheslav was allegedly lured to a meeting by his friend Alfred. Upon arrival, Viacheslav was ambushed by two masked men who attacked him, restrained him with ropes and cable ties, and threatened to break his fingers unless he transferred $500,000 in cryptocurrency. After negotiations, the demand was reduced to $250,000. Following the transfer, the suspects tied Viacheslav to a bed and fled with additional belongings, warning him not to report the incident. Viacheslav managed to escape, gathered photographic evidence from the hotel reception, and reported the crime to the police.The suspects are currently in custody at the Kamala Police Station, facing multiple charges. Thai authorities are continuing their investigation and have emphasized their commitment to protecting tourists and ensuring that those involved in organized crime face strict penalties. This case mirrors a similar incident involving Dean Skurka, CEO of WonderFi Technologies, who was kidnapped in Toronto and held for a $1 million ransom. These incidents underscore the increasing security threats faced by high-profile individuals in the cryptocurrency industry, where significant digital wealth can make them targets for organized crime.

According to Odaily, market strategists from IG have indicated that the election of Donald Trump as President of the United States has directly influenced the expectations for Federal Reserve rate cuts before 2025. The potential 'red wave' suggests minimal resistance to his tax cuts and spending plans, coupled with his stance on increasing tariffs.Strategists have noted that this scenario could complicate the Federal Reserve's efforts to combat inflation. As a result, the Fed may adopt a more cautious approach in its future easing processes, suggesting upward pressure on yields and the strengthening of the dollar.Currently, traders estimate a 68% probability of a 25 basis point rate cut by the Federal Reserve in December, compared to an approximately 83% likelihood before Trump's victory.

According to Foresight News, Matrixport has released a report suggesting that the market is anticipating a shift in U.S. regulatory policies towards a more crypto-friendly environment under former President Donald Trump. This expectation is fueling a bullish momentum that appears difficult to halt. With Trump's inauguration date set for January 20, 2025, the market has several weeks to sustain this upward trend.The report indicates that the anticipation of a regulatory shift is creating a sense of optimism among investors and market participants. The potential for a more supportive regulatory framework is seen as a significant factor driving the current market dynamics. As the date of Trump's possible return to office approaches, the market is entering uncharted territory, with investors closely monitoring developments and adjusting their strategies accordingly.Matrixport's analysis highlights the uncertainty and potential opportunities that lie ahead for the cryptocurrency market. The report underscores the importance of staying informed and adaptable in a rapidly changing regulatory landscape. As the market navigates these unknowns, stakeholders are advised to remain vigilant and prepared for potential shifts in policy and market conditions.

According to Cointelegraph, ARK Invest founder and CEO Cathie Wood anticipates that a shift in leadership at the United States Securities and Exchange Commission (SEC) could significantly enhance the economy, fostering innovation and investment in emerging technologies. Wood expressed her views on November 11, highlighting the potential impact of deregulation, reduced government spending, tax cuts, and a focus on technology-driven innovation as catalysts for economic growth.In a video shared by ARK Invest, Wood emphasized the importance of a "changing of the guard" at regulatory bodies like the SEC and the Federal Trade Commission (FTC). She criticized the SEC under Chair Gary Gensler for hindering the digital assets movement, leading to a talent drain to other countries. Wood expressed optimism about the future, noting that President-elect Donald Trump has shown a favorable stance towards Bitcoin and the broader crypto ecosystem, which she believes will be exciting for the industry.Wood also foresees a surge in productivity growth across major innovation platforms, including robotics, energy storage, artificial intelligence, and blockchain technology. She believes these transformative technologies will converge to unlock significant GDP growth. Highlighting the potential for innovation in autonomous mobility, healthcare, and digital assets, Wood compared the current environment to the "golden age" of active equity investing in the 1980s and 1990s. She suggested that Trump's proposed policies of tax cuts and lower interest rates could positively impact economic growth.On November 10, venture capital firm a16z echoed Wood's sentiments, expressing optimism about an improved regulatory environment in the United States. Legal and policy experts from a16z Crypto, including Miles Jennings, Michele Korver, and Brian Quintenz, shared their belief that the government will now support innovation, accelerate progress, and enable the crypto ecosystem to thrive in the U.S.

According to Foresight News, CBS News reported that Federal Reserve Chair Jerome Powell has stated he would not step down if requested by former President Donald Trump. Powell emphasized that the law does not permit the president to dismiss or demote the Federal Reserve Chair, affirming his intention to remain in his position.Powell was initially nominated by Trump in 2017 to lead the Federal Reserve. His leadership was reaffirmed when President Joe Biden nominated him again in November 2021. Powell's current term as the Federal Reserve Chair is set to conclude on May 15, 2026. This statement underscores Powell's commitment to maintaining the independence of the Federal Reserve from political influences, a principle that is crucial for the central bank's operations and credibility.The Federal Reserve plays a critical role in shaping U.S. monetary policy, and its independence is considered vital for making decisions based on economic data rather than political pressures. Powell's remarks come amid ongoing discussions about the role of the Federal Reserve and its leadership in navigating economic challenges. His stance reflects a broader commitment to uphold the institution's autonomy, ensuring that monetary policy decisions remain insulated from political dynamics.

According to Foresight News, a16z Crypto's policy head Brian Quintenz, regulatory lead Michele Korver, and general counsel Miles Jennings have jointly expressed their intention to advocate for a clear regulatory framework next year to foster and support innovation and decentralization. They emphasized that this presents both an opportunity and a responsibility for developers, who can actively shape the future by creating projects that demonstrate how decentralized protocols can mitigate risks and justify new regulatory approaches.The trio highlighted that regardless of whether new legislation or a restructured regulatory environment progresses, scrutiny from regulators and policymakers on certain aspects of the industry will remain effective. This is particularly true for token issuances, where their "Token Issuance Guidelines" based on principles continue to be applicable. They stressed the importance of developers taking an active role in shaping the future of the industry by showcasing the potential of decentralized protocols to address risks and validate new regulatory methods.

According to PANews, the Reserve Bank of Australia (RBA) is collaborating with the Digital Finance Cooperative Research Centre (DFCRC) to explore the potential of wholesale Central Bank Digital Currency (CBDC) and asset tokenization. This initiative is part of the Acacia Project, which aims to engage industry participants in providing feedback and participating in trials for wholesale tokenization use cases by 2025. The RBA is also considering forming an industry advisory group to further these efforts.In addition to wholesale CBDC, the Acacia Project will investigate the use of private forms of digital currency, including tokenized deposits. This exploration marks a significant step in understanding how digital currencies can be integrated into the financial system, potentially offering new efficiencies and innovations in financial transactions.Previously, the RBA and DFCRC conducted experiments involving both wholesale and retail CBDCs, where the digital currencies were issued on infrastructure controlled by the central bank. In the latest phase of experimentation, the central bank is contemplating issuing a pilot wholesale CBDC (wCBDC) on third-party blockchain networks, drawing inspiration from Switzerland's Project Helvetia. This approach could provide insights into the interoperability and functionality of CBDCs within existing financial frameworks.

According to Odaily, the Bank of Korea has recently signed an agreement with the Ministry of Science and ICT (MSIT) and the Financial Services Commission (FSC) to test the feasibility of a Central Bank Digital Currency (CBDC) and tokenized deposits. This initiative follows a September report indicating that the Bank of Korea is preparing to conduct a tokenized deposit trial involving approximately 100,000 participants. The trial, which was officially announced a year ago, aims to integrate wholesale CBDC for interbank settlements.In June, MSIT and the Korea Internet and Security Agency (KISA) allocated a budget to the Bank of Korea for developing a smartphone-based voucher program. These vouchers are intended for purchasing welfare, cultural, educational, and other goods and services. Consequently, the Bank of Korea has developed a digital voucher management platform to address the complexities and fraud risks associated with paper vouchers. The vouchers will utilize Singapore's Purpose-Bound Money (PBM) model, which encapsulates deposit tokens within smart contracts and defines their usage conditions.The FSC has approved seven domestic banks to participate as innovative financial services providers, although their compliance will be continuously monitored. These banks include Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Korea Development Bank, NongHyup Bank, and Busan Bank. Notably, the deposit tokens will be protected under the traditional deposit protection system. As of now, the Bank of Korea has not disclosed detailed information regarding user recruitment and the vouchers.

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the approval of Ethereum spot ETF options. This postponement is intended to allow for further analysis and the collection of public opinions, particularly concerning whether the proposed rule changes align with the requirements of the Securities Exchange Act.The SEC has expressed concerns about the potential impact of the proposal on preventing market manipulation, protecting investors, and ensuring a fair trading system. These considerations are central to the SEC's evaluation process as it seeks to maintain the integrity of the financial markets. The delay underscores the regulatory body's cautious approach in assessing new financial products that could significantly influence the market dynamics.The decision to postpone reflects the SEC's commitment to thoroughly examining the implications of introducing Ethereum spot ETF options. By seeking additional public input, the SEC aims to gather diverse perspectives on the proposed changes, ensuring that any decision made is well-informed and considers the interests of all stakeholders involved. This move highlights the importance of regulatory oversight in adapting to the evolving landscape of digital assets and financial instruments.

According to PANews, the Ontario Provincial Police (OPP) in Canada has expressed gratitude towards stablecoin issuer Tether for its assistance in an investigation that led to the freezing of approximately 10,000 Canadian dollars (equivalent to 7,186 US dollars) in Tether stablecoins. These funds, which were stolen from an individual, have now been successfully returned to the victim.Detective Staff Sergeant Addison Hunter of the OPP highlighted the significance of Tether International Ltd.'s voluntary assistance and cooperation in the case. He stated that the collaboration was instrumental in the successful seizure and return of the stolen digital assets to their rightful owner. This partnership played a crucial role in ensuring the swift recovery of assets, underscoring the importance of cooperation between law enforcement agencies and private companies in tackling digital asset theft.

According to Cointelegraph, the Monetary Authority of Singapore (MAS) and Banque de France (BDF) have successfully conducted an experiment utilizing post-quantum computing (PQC) to counter the potential threats posed by quantum computing to payment networks. The initial phase of this initiative involved securing emails on Microsoft Outlook, marking a significant step towards integrating PQC into the global banking infrastructure.The BDF and MAS exchanged digitally signed and encrypted emails using a PQC email plugin, achieving success with the existing internet infrastructure. This was done by post-quantum encryption standards established by the United States Department of Commerce National Institute of Standards and Technology in August. The MAS released a technical report highlighting the importance of this research in safeguarding the financial system against future threats. The report emphasized the 'harvest now, decrypt later' scenario, where adversaries could intercept and store encrypted data now, waiting for quantum computers to decrypt it in the future. The research also pointed out the need for additional standardization to ensure the confidentiality, authentication, and integrity of payment networks. Currently, there are no standards for hybridizing PQC security algorithms with existing public key infrastructure, digital certificates, and key exchanges.The experiment revealed that PQC keys required for decrypting messages are significantly larger than current keys, which may trigger existing security measures if email servers are not consistently updated. This experiment focused solely on Outlook. The challenges identified may become more pronounced in financial applications, which involve frequent transactions and extensive cross-border cooperation. BDF's first deputy governor, Denis Beau, expressed confidence in the ability to enhance inter-institutional communications resilience. The agencies plan to address the remaining challenges in the next phase of their research.Singapore and France have been actively researching PQC across various fronts. The BDF and the German central bank are involved in the Bank for International Settlements’ Project Leap, which aims to develop PQC solutions for payment networks. Singapore is also offering co-funding for developers working on PQC technology centres and use cases. Additionally, France and Singapore collaborate extensively on central bank digital currency research.

According to Cointelegraph, Lee Bratcher, President of the Texas Blockchain Council, is a prominent advocate for blockchain technology in the United States. He has been actively engaging with US lawmakers to address the regulatory challenges facing the blockchain industry. Bratcher identifies a significant lack of education as the primary barrier to the acceptance of blockchain technology among lawmakers, particularly those from older generations. He emphasizes that the hesitation is not due to an aversion to innovation but rather a lack of understanding of the technology.Bratcher suggests that the key to overcoming this apprehension is to educate lawmakers on the importance of embracing blockchain technology. He warns that if the United States fails to adopt blockchain, it risks falling behind international competitors who continue to innovate in this space. Bratcher's advocacy extends to the strategic implications of blockchain, particularly in relation to stablecoins, which he describes as a "killer app" for the technology alongside Bitcoin (BTC). He argues that stablecoins offer an efficient means of transferring money globally and can increase demand for US treasuries, thereby reinforcing the US dollar's status as the world reserve currency.Bratcher is closely monitoring several legislative bills related to cryptocurrency and blockchain. Among these is Senator Bill Hagerty's Clarity for Payment Stablecoins Act of 2024, which seeks to establish a comprehensive framework for dollar-pegged stablecoins. Additionally, the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed in the US House earlier in 2024, aims to clearly define the market structure by distinguishing between digital assets that are commodities and those that are securities. These legislative efforts reflect ongoing attempts to address the regulatory uncertainties surrounding blockchain and cryptocurrency in the United States.

According to Foresight News, the American Securities Association (ASA) has issued a call for the immediate resignation of Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC). Chris Iacovella, the President and CEO of ASA, emphasized that voters have expressed a desire for a new direction in the country, and Gensler should respect this decision by stepping down from his position. Iacovella stated that this move is essential for restoring trust and confidence in the SEC among American working families, retirees, and small businesses.The ASA's demand for Gensler's resignation highlights the growing dissatisfaction with his leadership at the SEC. The association argues that a change in leadership is necessary to address the concerns of various stakeholders who feel that the current direction of the SEC does not align with their interests. The call for resignation underscores the broader sentiment among some sectors that regulatory bodies should be more responsive to the needs and expectations of the public they serve.This development comes amid ongoing debates about the role and effectiveness of the SEC under Gensler's leadership. Critics have pointed to various regulatory decisions and policies that they believe have not adequately protected investors or promoted fair and efficient markets. The ASA's statement reflects a broader call for accountability and transparency within the SEC, as well as a desire for leadership that prioritizes the needs of everyday Americans and the businesses that drive the economy.

According to BlockBeats, market sources have reported that on November 8, the legal team representing former President Donald Trump is planning to file a motion to dismiss the case concerning the 2020 election results in Georgia. This development comes as part of ongoing legal challenges related to the election outcomes in various states.The case in Georgia has been a focal point of controversy, with allegations and counterclaims surrounding the integrity of the election process. Trump's team has consistently argued against the legitimacy of the results, citing various concerns and seeking legal remedies. The move to dismiss the case is seen as a strategic effort to counter the legal proceedings that have been ongoing since the election.This legal maneuver is part of a broader strategy by Trump's legal advisors to address multiple lawsuits and investigations that have emerged in the aftermath of the 2020 election. The outcome of this motion could have significant implications for similar cases in other states, potentially influencing the legal landscape surrounding election disputes. Observers are closely watching the developments in Georgia as they may set precedents for how election-related cases are handled in the future.

According to Odaily, Matthew Sigel, Head of Digital Asset Research at VanEck, shared insights on the X platform regarding the potential appointment of Scott Bessent as the Treasury Secretary in a future Trump administration. Sigel highlighted that on the Polymarket platform, Bessent's chances of being selected for this role stand at 55%. If appointed, Bessent would become the first U.S. Treasury Secretary to openly support cryptocurrency.This development is significant as it could mark a shift in the U.S. government's approach to digital currencies. Bessent's potential appointment reflects a growing acceptance of cryptocurrencies within mainstream financial and political circles. His pro-crypto stance could influence future policies and regulations, potentially fostering a more favorable environment for digital assets in the United States.The possibility of having a Treasury Secretary who supports cryptocurrency aligns with broader trends of increasing institutional interest in digital assets. As the global financial landscape evolves, the integration of cryptocurrencies into traditional financial systems continues to gain momentum. Bessent's appointment could accelerate this integration, impacting both domestic and international financial markets.

According to Odaily, the initial estimate for the United States' one-year inflation rate in November stands at 2.6%, slightly below the anticipated 2.7% and the previous value of 2.7%. This minor deviation in the short-term inflation forecast reflects ongoing economic adjustments and market expectations.In contrast, the initial estimate for the five to ten-year inflation rate in November is 3.1%, marginally higher than the expected 3% and consistent with the previous value of 3%. This indicates a slight upward adjustment in long-term inflation expectations, suggesting that economic analysts foresee potential inflationary pressures over a more extended period.These inflation forecasts are crucial for policymakers and investors as they provide insights into future economic conditions and potential monetary policy adjustments. The variations in short-term and long-term inflation expectations highlight the complexities of predicting economic trends and the factors influencing these projections. As the year progresses, these estimates will be closely monitored to assess their impact on economic strategies and financial markets.

According to Odaily, Tether's investment division, Tether Trade Finance, has successfully completed its first financing deal for a Middle East crude oil transaction. This deal, finalized in October 2024, aims to facilitate the loading and transportation of approximately 670,000 barrels of Middle Eastern crude oil, valued at around $45 million.This development marks a significant milestone for Tether as it ventures into the energy sector, leveraging its financial capabilities to support large-scale commodity transactions. The transaction underscores Tether's strategic expansion beyond its traditional role as a stablecoin issuer, highlighting its growing influence in global trade finance.The successful completion of this financing deal reflects Tether's commitment to diversifying its investment portfolio and exploring new opportunities in various sectors. By engaging in the oil trade, Tether is positioning itself as a key player in the intersection of finance and energy, potentially paving the way for future endeavors in similar markets.

According to Odaily, South Korea's financial regulatory authorities are set to enhance their market surveillance, with a particular focus on stocks linked to Donald Trump and the increasing volatility in the cryptocurrency sector. This decision follows the recent U.S. election results and the latest statement from the Federal Reserve's Federal Open Market Committee (FOMC). During a meeting held on November 8, the Financial Supervisory Service (FSS) Director, Lee Bok-hyun, emphasized the necessity of taking stringent measures against market manipulation and the dissemination of unfounded rumors, should there be evidence to support such actions. The FSS is committed to maintaining market integrity and ensuring that any activities undermining market stability are addressed promptly and effectively. The heightened scrutiny by South Korean regulators reflects a broader concern over the potential impact of political developments and economic policies on financial markets. As global markets react to the evolving political landscape in the United States, South Korea is taking proactive steps to safeguard its financial system from undue influence and volatility. The focus on cryptocurrency volatility also underscores the growing importance of digital assets in the global financial ecosystem and the need for robust regulatory frameworks to manage associated risks.

According to Cointelegraph, Detroit is set to allow its residents to pay taxes and city fees using cryptocurrency, aiming to modernize its payment systems and attract blockchain companies. This initiative, announced by Detroit’s Office of Treasury, will be implemented through a secure payment platform managed by PayPal starting mid-2025. The announcement did not specify which cryptocurrencies would be accepted, but PayPal currently supports major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and its stablecoin PayPal USD (PYUSD). This move is part of Detroit's broader strategy to enhance its payment channels and operational efficiency while encouraging blockchain companies to establish themselves in the city. Detroit Mayor Mike Duggan expressed enthusiasm about the city becoming one of the first major U.S. cities to explore blockchain applications for civic purposes, allowing residents to use cryptocurrency as a payment option.In addition to introducing cryptocurrency payment options, Detroit is inviting blockchain entrepreneurs and innovators to propose ideas for blockchain civic applications. Interested applicants have until December 15 to submit their proposals to Justin Onwenu, the city’s director of entrepreneurship and economic opportunity. Onwenu highlighted the potential of blockchain technologies to improve accessibility, efficiency, transparency, and security, expressing eagerness to hear from entrepreneurs leading this innovation.Once implemented, Detroit will join other U.S. cities and states, such as Miami Lakes in Florida and Williston in South Dakota, that accept cryptocurrency for taxes and city services. Colorado and Louisiana also accept cryptocurrency for civic services to varying extents, typically partnering with third-party payment vendors like PayPal or BitPay.This initiative follows the recent election of crypto-friendly Donald Trump as President, which has sparked anticipation within the crypto industry for pro-crypto policies and regulatory clarity. Expectations include potential changes such as the dismissal of the current SEC Chair Gary Gensler and the introduction of a national strategic Bitcoin reserve.