FameEX Morning Crypto News Recap | December 2, 2024

U.S. Bitcoin ETF Sets Record with 71,570 BTC Purchases in November

HODL15 Capital reports that U.S. Bitcoin ETFs acquired 71,570 BTC in November, marking a record-breaking month for inflows in terms of dollar value.

Bitcoin Mining Surge: Miners Achieve Highest Revenue Since April

Bitcoin miners earned $1.21 billion in November, the highest revenue since April’s $1.79 billion, driven by a 29.92% hashprice increase. Of this, $38.73 million came from transaction fees, lower than October’s $47.39 million.

Meta's Stablecoin Project Terminated Amid Political Pressure

David Marcus, former head of Meta's Diem project, disclosed that despite meeting regulatory requirements in 2021, U.S. Treasury Secretary Yellen warned Federal Reserve Chairman Powell that approving it would be "political suicide." The Federal Reserve pressured banks to end partnerships, ultimately leading to the project's termination.

South Korea Delays Cryptocurrency Capital Gains Tax Implementation to 2027

South Korea’s Democratic Party floor leader, Park Chan-dae, announced the cryptocurrency capital gains tax will be postponed to 2027, after previous delays from 2021 and 2025. Once implemented, investors will face a 20% tax on digital asset gains.

Japan Explores New Regulations for Cryptocurrency Intermediaries

Japan is planning new regulations for cryptocurrency intermediary institutions outside of exchanges. The Financial Services Agency proposed measures to the Financial System Council, requiring intermediaries to inform users, adhere to advertising restrictions, and potentially bear liability for damages. These lightweight rules aim to enhance oversight without overburdening operations.

Hong Kong Securities and Futures Commission to Reveal Virtual Asset Platform Licensing Updates by Year-End

Hong Kong Securities and Futures Commission CEO Leung Fung-yee confirmed that the licensing status of virtual asset trading platforms will be announced by year-end. While withholding specifics about platform failures, she stated the report will highlight common issues found during the application process.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.