FameEX Morning Crypto News Recap | December 2, 2024

U.S. Bitcoin ETF Hits Record High with 71,570 BTC Acquired in November

HODL15 Capital reveals U.S. Bitcoin ETFs purchased 71,570 BTC in November, setting a new record for monthly inflows measured in dollar value.

Bitcoin Mining Boom: Miners Record Highest Revenue Since April

In November, Bitcoin miners generated $1.21 billion in revenue, the highest since April's $1.79 billion, fueled by a 29.92% hashprice increase. Transaction fees contributed $38.73 million, a decline from October's $47.39 million.

Meta's Stablecoin Project Halted Due to Political Pressure

David Marcus, former head of Meta's Diem project, revealed that despite meeting regulatory standards in 2021, U.S. Treasury Secretary Yellen warned Federal Reserve Chairman Powell of political risks. The Federal Reserve then pressured banks to sever ties, forcing the project's termination.

South Korea Defers Cryptocurrency Capital Gains Tax Until 2027

South Korea’s Democratic Party floor leader, Park Chan-dae, announced the postponement of the cryptocurrency capital gains tax to 2027, following earlier delays from 2021 and 2025. Once enacted, the tax will impose a 20% rate on digital asset gains.

Japan Considers Implementing New Rules for Cryptocurrency Intermediaries

Japan is considering new regulations for cryptocurrency intermediaries outside of exchanges. Proposed by the Financial Services Agency, these rules require intermediaries to inform users, follow advertising restrictions, and assume liability for damages, aiming to enhance oversight without imposing heavy operational burdens.

Hong Kong Securities and Futures Commission to Announce Virtual Asset Platform Licensing Status by Year-End

Hong Kong Securities and Futures Commission CEO Leung Fung-yee announced that the licensing status of virtual asset trading platforms will be revealed by year-end. While withholding details about platform failures, she noted the report will outline common issues identified 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.​