● Binance released its November asset reserve certificate, with funds covering all user assets at a 1:1 ratio

Binance announced the twelfth Merkle tree asset reserve proof (snapshot date is November 1), proving that Binance has funds covering all user assets at a 1:1 ratio, including: the net balance of user BTC assets is 584,000, down 0.72% from 588,000 in October; the net balance of ETH user assets is 3.91 million, up 2.25% from the previous 3.83 million; the net balance of USDT user assets is 15.27 billion, down 0.29% from the previous 15.31 billion; the net balance of BNB user assets is 31.216 million, up 6.42% from the previous 29.334 million.

● Stablecoin USDC issuer Circle considers listing in early 2024

According to BlockBeats, Bloomberg cited people familiar with the matter as saying that Circle Internet Financial Ltd., the issuer of the stablecoin USDC, is considering going public in early 2024. The company is in consultation with advisers to prepare for a potential initial public offering. Relevant deliberations are still ongoing, and it is uncertain whether Circle will eventually go public. When it attempted to merge with special purpose acquisition company Concord Acquisition Corp. in 2022, Circle was valued at $9 billion. A representative for Circle said that becoming a U.S. listed company has long been part of Circle's strategic vision, but would not comment on the rumors.

● U.S. Deputy Treasury Secretary: The Biden administration hopes Congress will grant more power to combat illegal cryptocurrency activities

According to the Wall Street Journal, U.S. Treasury Deputy Secretary Wally Adeyemo said at the Securities Industry and Financial Markets Association annual meeting in Washington on Tuesday that the Biden administration hopes Congress will grant new powers to help combat illegal cryptocurrency activities.

Adeyemo said the Treasury Department has been in communication with Democrats and Republicans about possible actions they might take. The Treasury Department will continue to take action and will work with Congress to urge the cryptocurrency industry to innovate responsibly.

Additionally, Adeyemo called on the crypto industry to self-regulate.

● CFTC’s digital asset enforcement cases hit a new high in fiscal year 2023

According to PANews, according to the 2023 fiscal year enforcement report released by the Commodity Futures Trading Commission (CFTC), the number of cases in the digital asset field has reached a record high. The CFTC Enforcement Division (DOE) implemented a total of 96 enforcement actions in 2023, resulting in more than $4.3 billion in fines, compensation and confiscations. 47 of these actions were related to digital asset commodities, accounting for more than 49% of all actions. In contrast, the CFTC implemented a total of 18 enforcement actions related to digital assets in fiscal year 2022.

● CFTC says it is the “primary law enforcement agency” in the cryptocurrency space

According to Decrypt, the Commodity Futures Trading Commission (CFTC) stated in the announcement that this year’s enforcement results include a record number of cases in the digital asset field. The regulator’s statement said: “In fiscal year 2023, the CFTC consolidated its reputation as the premier law enforcement agency in the digital asset field.”

● VARA releases comprehensive crypto asset regulatory framework to help Dubai become a virtual asset hub

According to Cointelegraph, the Virtual Asset Regulatory Authority (VARA) is one of the first regulators in the world to issue comprehensive crypto asset regulations to promote crypto-related activities in Dubai. VARA was established in March 2022 with the aim of making the UAE a regional and international center for virtual assets and related services. VARA released a comprehensive regulatory framework for virtual asset service providers (VASPs) in February this year. The regulatory framework includes four mandatory rulebooks and a specific activity rulebook for VASPs. These rules apply only to VASPs in the Dubai region. The VARA framework also includes a rulebook on VASP marketing, advertising and promotional activities.

Deepa Raja Carbon, Managing Director and Vice Chairman of VARA, said that VARA is unique in its flexibility, collaborative spirit and ability to respond quickly to market needs. VARA's crypto asset regulation aims to make Dubai an industry hotspot and attract more virtual asset businesses from Eastern countries.

● US SEC: There are limited case laws regarding the application of securities laws to crypto assets, and we are coordinating with multiple parties to supervise this area

According to a statement released by the U.S. SEC’s Office of Inspector General, the SEC’s ability to maintain effective supervision requires it to continuously monitor the market environment and, where appropriate, adjust and modernize its expertise, rules, regulations, and supervisory tools and activities, according to Planet Daily. In this regard, two emerging areas pose certain challenges to the SEC: crypto assets and artificial intelligence (AI). Given the rapid rise of these and other innovative fields, the SEC must continue to adapt and build new expertise and capabilities.

The SEC noted that it is working to coordinate cooperation among federal financial regulators through the FSOC, the President’s Working Group on Financial Markets, the Council on Financial Literacy and Education, joint participation in international bodies, and other bilateral and multilateral efforts.

For fiscal year 2024, the SEC seeks to add positions in the divisions of examination, trading and markets, and enforcement, in part to address critical and evolving risks associated with crypto-assets. The Office of General Counsel and the Office of International Affairs are also seeking additional positions to focus on crypto-asset regulation, policy, and related matters.

In addition, case law regarding the application of securities laws to crypto assets is limited and still developing. As recent decisions have demonstrated, even judges in the same district may render inconsistent decisions on similar facts or issues. It may take years for the law in this area to become clear to the point where the outcomes can be reasonably predicted. This uncertainty could affect the SEC’s enforcement decisions and priorities.

● Mitsubishi UFJ Trust and six other companies plan to cooperate in issuing yen and dollar stablecoins

Mitsubishi UFJ Trust Bank has partnered with Web3 company Ginco to build an international payment system for crypto asset (virtual currency) companies using stablecoins, using the Progmat platform for issuance. An official press release was recently released, with the name of the yen-denominated stablecoin being "XJPY" and the name of the dollar-denominated stablecoin being "XUSD".

Mitsubishi said that the two sides will cooperate in the future to study the issuance of "cross-industry stablecoins" to improve the efficiency of fund settlement between virtual currency trading providers.

Progma was originally a digital asset platform developed by Mitsubishi UFJ Trust Bank, but in September this year it officially announced that it would be spun off as an independent company, with eight companies including NTT Data and SBI PTS Holdings signing a shareholder agreement.