RABIT

* The CEO of Ripple has expressed concerns, "Many cryptocurrency companies can leave the U.S. and go to Europe due to confusing regulations of U.S. regulators." Comparing the regulations in the U.S. to that of other countries, the CEO criticized the excessive regulations and frequent policy

* Twitter has broadened its investment information provision services by collaborating with eTORO, a leading stock and cryptocurrency trading platform. Accordingly, Twitter is set to expand the Cashtag feature, allowing users to access market data for cryptocurrency market charts and various financial products. Additionally, Twitter has expressed its commitment to assisting

* The IRS said it seeks to tax NFTs like other collectibles such as stamps and artworks. Last year, the IRS presented a draft of the “Tax year guidelines” and announced that it would change the taxable target designated as “cryptocurrency” to “digital assets.” * Despite the low chances of the U.

* EU parliament passed an act requiring Smart Contracts to include the ‘Kill Switch’ that controls activities. As several blockchain platforms use smart contract technology, including Ethereum, the virtual asset industry is concerned that the bill could hinder technological innovation in blockchain platforms. * Meta is ending support for NFTs on Instagram

* The United States federal reserve chair said he ‘does not want to damage virtual asset innovation with excessive regulations.’ He said cryptocurrency and blockchain are innovative fields, but they are also industries that are just starting, and therefore he is closely monitoring areas that require regulations or policies. * CFTC chair

* CFTC will focus on examining the DeFi industry. CFTC reported that it would invite cryptocurrency officials to discuss issues that have occurred in the past DeFi industry. Meanwhile, CFTC is struggling to take control of cryptocurrency by actively demanding the parliament for cryptocurrency supervision. * Crypto exchange Binance launched Bicasso, an

* The SEC has passed regulations to strengthen cryptocurrency custody regulations, such as allowing crypto to be stored only through qualified consigned parties that satisfy specific requirements. Crypto exchanges that have been providing consignment services to users are expected to be affected by the regulations. * As SEC suspended the staking business

* The EU Parliament has announced a bill that forces a 1,250% risk weight on banks holding cryptocurrency assets. According to the bill, European banks will treat cryptocurrency as the riskiest asset. In addition, there’s a newly added limit that cryptocurrency can be held only in an amount that

* The chairman of the CFTC said he would set an official case or precedent for cryptocurrency regulations this year. He exaggerated the point that regulations are necessary to prepare for unpredictable situations in the financial market, and so he will try to create enforcement cases related to fraud or illegal

* Elon Musk, the CEO of Twitter, is currently reviewing adapting the cryptocurrency payments system as well as applying for a regulatory license in the US to provide a payment system. Last year, Musk mentioned, “For maximizing the utility of Twitter service, news, entertainment, and payment are the three key factors.

* European Parliament's Committee on Economic and Monetary Affairs made a stand that European banks must treat cryptocurrency as a risky asset. The EU parliament said, "Over the past few years, we have witnessed that cryptocurrency is a high-risk investment asset, and it is a measure to prevent

* The first virtual bank in Thailand will operate in 2025. The bank of Thailand said, “We will apply a bill at the end of 2023 that allows virtual banks to act as financial service providers.” Such a decision seems to be aimed at increasing competition in the country and boosting

* Traditional finance firms are reportedly urging the FSB(Financial Stability Board) to pursue tough rules for the cryptocurrency sector. A traditional financial industry official said it is necessary to expand the scope of regulations by introducing comprehensive rules and pointed out that the virtual asset industry needs to apply the

* As the Hong Kong Parliament announced an amendment to allow individual investors to invest in virtual assets, it also announced that it would implement the amendment starting this year. According to local media, local financial companies have begun the preparation process to obtain license approval. * The U.S. IRS said

* It is reported that over half of the NFT trading volume on Ethereum is Wash Trading. According to the virtual asset analyst, wash trading accounted for 58% of the total NFT trade volumes on Ethereum in 2022, equivalent to about $30 billion. * According to the southern district of New York,

* Concerns over Tether’s fiscal soundness are growing as some hedge funds short-betted based on the price fall of Tether. Tether revealed its plan to suspend secured loans by 2023, denying the media report that there were insufficient current assets. * The need for virtual asset regulation is rising on the

* Tether announced that they are adding offshore Chinese yuan in market capitalization. With the addition of yuan, Tether is now expected to support all four stablecoins pegged to the U.S. dollar, euro, peso, and yuan. * Binance revealed the proof-of-reserves. By disclosing documents, Binance claimed that proof of reserves is

* In the aftermath of the U.S. Federal Reserve's interest rate liftoff and the bankruptcy of FTX, the cryptocurrency traded quantity plunged as the average traded quantity dropped by 30-40%. * Starbucks launches the NFT membership trial service, 'Starbucks Odyssey.' Starbucks Odyssey has the distinction of introducing

* Blockfi filed for bankruptcy protection in the court for the district of New Jersey. Blockfi received a $400 million limit loan from FTX and Alameda research. Blockfi official said, ‘We have sold $239 million of cryptocurrency and may fire two-third of all employees.” * Morgan Stanley has identified 63 companies with

* Genesis is on the verge of possible bankruptcy. Genesis revealed to have approximately $175 million locked in an FTX trading account. It temporarily suspended any trading as it couldn’t retrieve the deposit from FTX, resulting in a coin plunge. * Grayscale GBTC premium marked a 42% fall. The proof of

* Liquidity concerns about FTX, the world’s second-largest cryptocurrency exchange, have emerged. The problems seemed to be resolved by Binance’s acquisition of FTX. However, with the acquisition being canceled, FTX is in rehabilitation bankruptcy. * According to the Wall street journal, the Manhattan federal prosecutor is currently investigating ‘whether FTX

* On November 3rd, Fidelity announced its launching of Fidelity crypto, a cryptocurrency investment service for individual customers. Fidelity investors can now trade Bitcoin and Ethereum through crypto with zero commission. * MAS, the Monetary Authority of Singapore, announced their compilation of the first phase of Project Orchid for CBDC wholesale. Project

* After launching the Ethereum index fund, Fidelity launched Ethereum trading for institutional customers on October 28th. The institutional customers of Fidelity investment's digital asset subsidiaries can now trade Ethereum. Tom Jessop, the CEO of Fidelity digital asset, said, "The cryptocurrency market has faced a headwind for the

* The top three US mining firms, Core Scientific, Marathon Digital, and Riot Blockchain, lost more than $1 billion during the second quarter. US media group Bloomberg reports, ‘‘Bitcoin mining firms consider selling off stockpiles due to financial pressure,’ that the third quarter malaise is expected to be more acute than

* On October 10th, at the annual Google conference, ‘Google cloud next 2022’, Google announced their plans to implement cryptocurrency such as bitcoin as their cloud service payment starting next year. Google chose Coinbase, the largest cryptocurrency exchange in the U.S, as their partner to establish a cryptocurrency payment system.