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What Happens to Lost Bitcoin?
Understanding Bitcoin loss
When thinking of "lost Bitcoin," you may recall the story of James Howells, a British IT worker, searching through a landfill in Wales in an attempt to find the hard drive he accidentally threw away. This hard drive contained the private key for approximately 7,500 Bitcoin.
Howells' story is perhaps the most famous example of Bitcoin loss — a situation where BTC became inaccessible or unusable, leading to their removal from circulation. This can significantly affect the total available supply of Bitcoin, contributing to the increased scarcity of this currency.
When thinking of "lost Bitcoin," you may recall the story of James Howells, a British IT worker, searching through a landfill in Wales in an attempt to find the hard drive he accidentally threw away. This hard drive contained the private key for approximately 7,500 Bitcoin.
Howells' story is perhaps the most famous example of Bitcoin loss — a situation where BTC became inaccessible or unusable, leading to their removal from circulation. This can significantly affect the total available supply of Bitcoin, contributing to the increased scarcity of this currency.
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FINMA Warns of Increased Money Laundering Risks from Cryptocurrencies
The Swiss Financial Market Supervisory Authority (FINMA) warns of the increasing risk of money laundering in the cryptocurrency sector, demanding stronger risk management measures.
On November 18, the Swiss Financial Market Supervisory Authority (FINMA) released the Risk Monitor 2024 report, highlighting a significant increase in money laundering activities through digital assets, particularly cryptocurrencies and stablecoins.
The report also points to the trend of abusing cryptocurrency to evade sanctions, complicating law enforcement efforts and threatening the reputation of Switzerland's financial center.
On November 18, the Swiss Financial Market Supervisory Authority (FINMA) released the Risk Monitor 2024 report, highlighting a significant increase in money laundering activities through digital assets, particularly cryptocurrencies and stablecoins.
The report also points to the trend of abusing cryptocurrency to evade sanctions, complicating law enforcement efforts and threatening the reputation of Switzerland's financial center.
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Russia Considers Restricting Cryptocurrency Mining in 13 Regions
Russia proposes to restrict cryptocurrency mining in 13 regions, including Irkutsk and occupied territories in Ukraine, until 2031 to ensure energy supply.
The Russian government is considering imposing restrictions on cryptocurrency mining activities in 13 regions across the country to address concerns about energy security, particularly during peak electricity consumption from autumn to winter. This move follows Russia's official passing of laws regulating the cryptocurrency industry in August and October 2024, marking a significant turning point in the country's approach to the rapidly evolving technology sector.
The Russian government is considering imposing restrictions on cryptocurrency mining activities in 13 regions across the country to address concerns about energy security, particularly during peak electricity consumption from autumn to winter. This move follows Russia's official passing of laws regulating the cryptocurrency industry in August and October 2024, marking a significant turning point in the country's approach to the rapidly evolving technology sector.
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Trump Considers Establishing a Dedicated Cryptocurrency Position at the White House
President-elect Donald Trump is considering establishing the first dedicated cryptocurrency position at the White House, marking a strategic move to boost the U.S. as the 'cryptocurrency capital of the world.'
According to Bloomberg's report on November 20, Trump's transition team is actively discussing the establishment of a new position at the White House, focusing entirely on cryptocurrency policy. This move is seen as unprecedented, reflecting the growing importance of the sector in the context of global financial technology.
According to Bloomberg's report on November 20, Trump's transition team is actively discussing the establishment of a new position at the White House, focusing entirely on cryptocurrency policy. This move is seen as unprecedented, reflecting the growing importance of the sector in the context of global financial technology.
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Goldman Sachs Separates Cryptocurrency Platform into Independent Company
Goldman Sachs is separating its cryptocurrency platform to establish a new company, focusing on the development of digital asset trading on the blockchain, expected to be completed in the next 12-18 months.
Goldman Sachs, one of the world's leading investment banks, is planning bold moves to strengthen its position in the digital asset space. According to information from Bloomberg on November 18, Goldman Sachs is in the process of separating its current cryptocurrency platform to establish an independent company. This move is expected to help the bank focus on developing and trading financial instruments on the blockchain platform more effectively.
Goldman Sachs, one of the world's leading investment banks, is planning bold moves to strengthen its position in the digital asset space. According to information from Bloomberg on November 18, Goldman Sachs is in the process of separating its current cryptocurrency platform to establish an independent company. This move is expected to help the bank focus on developing and trading financial instruments on the blockchain platform more effectively.
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Tether, Kraken And Fabric Ventures Support MiCA-Compliant Stablecoin Launch
Two stablecoins EURQ and USDQ, pegged to the euro and the US dollar, launched on November 18 in Europe, are MiCA-compliant and backed by Tether, Kraken and Fabric Ventures.
The European crypto market has officially welcomed two new stablecoins, EURQ and USDQ, designed to comply with the European Union (EU) Markets in Cryptoassets (MiCA) Regulation. Launched on November 18, the two stablecoins are pegged to the euro and the US dollar at a 1:1 ratio, with reserves held entirely in fiat currency and subject to strict rules on additional reserves. The event marks an important step towards establishing a more regulated and transparent stablecoin market in Europe.
The European crypto market has officially welcomed two new stablecoins, EURQ and USDQ, designed to comply with the European Union (EU) Markets in Cryptoassets (MiCA) Regulation. Launched on November 18, the two stablecoins are pegged to the euro and the US dollar at a 1:1 ratio, with reserves held entirely in fiat currency and subject to strict rules on additional reserves. The event marks an important step towards establishing a more regulated and transparent stablecoin market in Europe.
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Bitfinex Issues Tokenized US Treasury Bonds in El Salvador
Bitfinex Securities raised $30 million through the issuance of USTBL tokens representing short-term US Treasury bonds, leveraging El Salvador's digital asset regulatory framework.
Bitfinex Securities, a digital securities exchange affiliated with Tether, announced on November 19 that it is offering a public tokenized U.S. Treasury bond offering, leveraging El Salvador’s advanced digital asset regulatory framework. The offering marks a significant step forward in combining traditional finance with blockchain technology, opening up new investment opportunities for the global market.
Bitfinex Securities, a digital securities exchange affiliated with Tether, announced on November 19 that it is offering a public tokenized U.S. Treasury bond offering, leveraging El Salvador’s advanced digital asset regulatory framework. The offering marks a significant step forward in combining traditional finance with blockchain technology, opening up new investment opportunities for the global market.
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Polter Finance Shuts Down After $12 Million Hack
Polter Finance hit by flashloan attack for $12 million, suspected to be related to SpookySwap oracle bug.
Polter Finance, a decentralized lending platform, officially announced its shutdown on November 17 after a serious attack that caused a loss of approximately $12 million. The attack was carried out via flash loans, targeting a newly deployed smart contract on the SpookySwap (BOO) market. The stolen funds were reportedly transferred through multiple wallets on the Binance exchange.
Polter Finance, a decentralized lending platform, officially announced its shutdown on November 17 after a serious attack that caused a loss of approximately $12 million. The attack was carried out via flash loans, targeting a newly deployed smart contract on the SpookySwap (BOO) market. The stolen funds were reportedly transferred through multiple wallets on the Binance exchange.
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Russia Proposes 15% Tax on Cryptocurrency Income
Russia is stepping up efforts to regulate cryptocurrencies with a proposed 15% tax on income from cryptocurrency mining and trading.
On November 18, the Russian Ministry of Finance proposed a law amendment to apply a 15% income tax rate to all income from cryptocurrencies, including mining and trading. The proposal comes as the Russian government seeks to legalize and tighten control over the rapidly growing cryptocurrency sector.
On November 18, the Russian Ministry of Finance proposed a law amendment to apply a 15% income tax rate to all income from cryptocurrencies, including mining and trading. The proposal comes as the Russian government seeks to legalize and tighten control over the rapidly growing cryptocurrency sector.
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U.S. Senator Proposes Using Gold to Buy Bitcoin
Senator Lummis calls on the U.S. Treasury to convert gold into Bitcoin, creating a strategic reserve fund, rather than spending $90 billion to buy directly.
On November 14, Senator Cynthia Lummis from Wyoming made a noteworthy proposal, calling on the U.S. Treasury to convert a portion of the national gold reserves – currently the largest in the world at over 8,000 tons – into Bitcoin. The goal is to establish a strategic reserve fund to mitigate inflation impact and strengthen the nation's financial capability.
On November 14, Senator Cynthia Lummis from Wyoming made a noteworthy proposal, calling on the U.S. Treasury to convert a portion of the national gold reserves – currently the largest in the world at over 8,000 tons – into Bitcoin. The goal is to establish a strategic reserve fund to mitigate inflation impact and strengthen the nation's financial capability.
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Hong Kong Warns Cryptocurrency Firm Impersonating Banks
The Hong Kong Monetary Authority (HKMA) has issued a warning about two foreign cryptocurrency companies that are posing as “banks” while operating in Hong Kong, in violation of the Banking Ordinance.
On November 15, the Hong Kong Monetary Authority (HKMA) issued a warning notice about two overseas-based cryptocurrency companies that claimed to be “banks” while operating in Hong Kong, seriously violating the provisions of the Banking Ordinance.
On November 15, the Hong Kong Monetary Authority (HKMA) issued a warning notice about two overseas-based cryptocurrency companies that claimed to be “banks” while operating in Hong Kong, seriously violating the provisions of the Banking Ordinance.
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Polish Presidential Candidate Commits to Building a Bitcoin Reserve Fund
Polish presidential candidate Sławomir Mentzen pledges to establish a Bitcoin reserve fund if elected in 2025, following the model of El Salvador and the promise of former US President Donald Trump.
Mr. Sławomir Mentzen, the Polish presidential candidate, has just made a notable commitment in the finance and technology sectors by stating he will establish a national Bitcoin reserve fund if he wins the election scheduled for May 2025.
Mr. Sławomir Mentzen, the Polish presidential candidate, has just made a notable commitment in the finance and technology sectors by stating he will establish a national Bitcoin reserve fund if he wins the election scheduled for May 2025.
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South Korea Cracks Down on Cryptocurrency Seizures from Tax Evaders
Paju, South Korea intensifies the campaign to crack down on tax evasion through cryptocurrency assets, sending seizure notices for 124 million won from 17 individuals, with a payment deadline by the end of November.
The government of Paju city, Gyeonggi province, South Korea, continues to intensify its campaign against tax evaders by targeting cryptocurrency assets. On November 18, according to Yonhap News, the city government officially sent notices to 17 individuals with tax debts totaling 124 million won (approximately 88,600 USD).
The government of Paju city, Gyeonggi province, South Korea, continues to intensify its campaign against tax evaders by targeting cryptocurrency assets. On November 18, according to Yonhap News, the city government officially sent notices to 17 individuals with tax debts totaling 124 million won (approximately 88,600 USD).
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Cryptocurrency Used in Cyber Scams in Nepal
Nepal recorded 64% of its scams as of May 2024 as cyber-related, despite the cryptocurrency ban. The Financial Intelligence Unit (FIU) calls for increased transaction monitoring and public awareness.
On November 18, the Financial Intelligence Unit (FIU) Nepal, under the Central Bank of Nepal (Nepal Rastra Bank), released a Strategic Analysis report showing that cryptocurrencies are being widely used in cyber fraud activities, despite the ban on digital asset trading in the country.
On November 18, the Financial Intelligence Unit (FIU) Nepal, under the Central Bank of Nepal (Nepal Rastra Bank), released a Strategic Analysis report showing that cryptocurrencies are being widely used in cyber fraud activities, despite the ban on digital asset trading in the country.
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EBA Tightens Regulations on Cryptocurrency Transactions and Money Transfers
The European Banking Authority (EBA) has issued new guidance for payment service providers and crypto assets, effective from December 30, 2025, to enhance compliance with EU restrictions.
On November 14, the European Banking Authority (EBA), the agency responsible for addressing weaknesses in the European banking system, published two new sets of guidelines specifically for payment service providers (PSPs) and crypto-asset service providers (CASPs). The move comes amid the EU’s efforts to strengthen its fight against money laundering, terrorist financing, and compliance with international sanctions, especially in the areas of digital assets and cross-border money transfers.
On November 14, the European Banking Authority (EBA), the agency responsible for addressing weaknesses in the European banking system, published two new sets of guidelines specifically for payment service providers (PSPs) and crypto-asset service providers (CASPs). The move comes amid the EU’s efforts to strengthen its fight against money laundering, terrorist financing, and compliance with international sanctions, especially in the areas of digital assets and cross-border money transfers.
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NYSE Arca Files to List Bitwise's Crypto ETP
NYSE Arca has filed an application with the SEC to list Bitwise’s cryptocurrency ETP, which includes 10 leading digital assets, with Bitcoin making up 75.1% of the portfolio.
On November 15, NYSE Arca officially filed Form 19b-4 with the US Securities and Exchange Commission (SEC), proposing to list Bitwise 10 Crypto Index Fund (BITW) as an exchange-traded product (ETP). The move marks an important step in Bitwise's efforts to convert its current $1.3 billion trust fund into an ETP structure, which promises to bring many benefits to investors.
On November 15, NYSE Arca officially filed Form 19b-4 with the US Securities and Exchange Commission (SEC), proposing to list Bitwise 10 Crypto Index Fund (BITW) as an exchange-traded product (ETP). The move marks an important step in Bitwise's efforts to convert its current $1.3 billion trust fund into an ETP structure, which promises to bring many benefits to investors.
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SCB Tests Stablecoin Wallet in Bangkok
SCB 10X tested Rubie Wallet supporting USD and THB stablecoins at Devcon event in Bangkok, accepting payments at 100 stores from November 5 to November 25.
Siam Commercial Bank (SCB), through its fintech subsidiary SCB 10X, is piloting the Rubie Wallet at the Devcon event in Bangkok, Thailand, from November 5 to November 25. The wallet will allow users to make payments using stablecoins pegged to the US dollar (USD) and Thai baht (THB) at around 100 local stores. The project is being implemented under the sandbox framework of the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC).
Siam Commercial Bank (SCB), through its fintech subsidiary SCB 10X, is piloting the Rubie Wallet at the Devcon event in Bangkok, Thailand, from November 5 to November 25. The wallet will allow users to make payments using stablecoins pegged to the US dollar (USD) and Thai baht (THB) at around 100 local stores. The project is being implemented under the sandbox framework of the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC).
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18 US States Sue SEC Over Cryptocurrency Policy
The Securities and Exchange Commission (SEC) and Chairman Gary Gensler are accused of exceeding their authority in regulating cryptocurrencies, causing $426 million in losses to the industry.
On November 14, 18 US states including Nebraska, Tennessee, Wyoming and Texas, filed a lawsuit against the Securities and Exchange Commission (SEC) and Chairman Gary Gensler, alleging that the SEC exceeded its authority by imposing regulations on cryptocurrencies without clear authorization from Congress, causing great damage to the industry.
On November 14, 18 US states including Nebraska, Tennessee, Wyoming and Texas, filed a lawsuit against the Securities and Exchange Commission (SEC) and Chairman Gary Gensler, alleging that the SEC exceeded its authority by imposing regulations on cryptocurrencies without clear authorization from Congress, causing great damage to the industry.
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Pennsylvania Considers ‘Strategic Bitcoin Reserve’ Bill
The proposed bill would allow the Pennsylvania Treasury to invest up to 10% of its budget, or billions of dollars, in Bitcoin as a hedge against inflation.
On November 13, Republican Congressman Mike Cabell introduced the Pennsylvania House of Representatives bill called “Strategic Bitcoin Reserve” (HB 2664), which would allow the state Treasury to invest up to 10% of its total assets in Bitcoin. If passed, this would be one of the boldest policies in the US to integrate cryptocurrencies into public budget management.
On November 13, Republican Congressman Mike Cabell introduced the Pennsylvania House of Representatives bill called “Strategic Bitcoin Reserve” (HB 2664), which would allow the state Treasury to invest up to 10% of its total assets in Bitcoin. If passed, this would be one of the boldest policies in the US to integrate cryptocurrencies into public budget management.
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How Are Seized Cryptocurrencies Treated?
What is Cryptocurrency Confiscation?
Cryptocurrency seizure refers to the seizure of cryptocurrency assets by authorities, often as part of a legal investigation. This can occur in cases of fraud, money laundering, or other illegal activities.
If law enforcement suspects illegal activity, they can seize digital assets from cryptocurrency wallets. The funds are typically transferred to government-controlled wallets until the case is over. The seized assets are sold or auctioned off if the defendant is found guilty in court. But if they are found not guilty, the cryptocurrency is returned to their wallets.
Cryptocurrency seizure refers to the seizure of cryptocurrency assets by authorities, often as part of a legal investigation. This can occur in cases of fraud, money laundering, or other illegal activities.
If law enforcement suspects illegal activity, they can seize digital assets from cryptocurrency wallets. The funds are typically transferred to government-controlled wallets until the case is over. The seized assets are sold or auctioned off if the defendant is found guilty in court. But if they are found not guilty, the cryptocurrency is returned to their wallets.
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