🇰🇷 South Korean cryptocurrency exchange Upbit is suspected of massive violations of KYC procedures (about 600,000 cases) — the company faces a fine of $71,500 for each case.

Theoretically, Upbit may be required to pay up to $42.9 billion.

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🐋 Another Company Adopts Bitcoin Strategy — Solidion Technology will allocate 60% of excess funds and a certain percentage of revenues to purchasing BTC.

Solidion is engaged in the supply of battery materials and is publicly traded on the US stock exchange.

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⚒️ Miners Continue Recording Profits — in the last 3 days alone, they have transferred 45 000 BTC to crypto exchanges.

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Summary of the day, November 15

🇺🇸 Gary Gensler published a letter suggesting he might leave the SEC — one of Donald Trump's promises during his presidential campaign.

🇷🇺 The Russian government decided on the list of regions where cryptocurrency mining may be banned starting December 1, 2024.

🤖 NEUTON Protocol is a new project on the TON blockchain, offering innovative solutions such as artificial intelligence, a GPU marketplace, and VPN services.

🪙 A Bitcoin whale with 2000 BTC ($176 million) in their account woke up after 14 years.

🇺🇸 American spot Bitcoin ETFs recorded the first outflow in the last 7 days, amounting to $400 million.

🇰🇷 Upbit may be required to pay up to $42.9 billion.

🐋 Solidion Technology will direct 60% of excess funds and a certain percentage of income towards buying BTC.

🏦 Banking giant Goldman Sachs increased its investments in Bitcoin ETFs to $710 million.

🐹 The market capitalization of the meme token sector yesterday reached a new all-time high (ATH) above $116 billion.

🪙 The lawsuit against Elon Musk for Dogecoin manipulation was dismissed — investors are withdrawing their appeal.

👵 A British company created an “AI Granny” to combat phone scams, whose main task is to understand nothing, endlessly ask questions, and waste time.

🇷🇺 The Cabinet of Ministers of the Russian Federation approved amendments to the draft law on mining that regulate the taxation of cryptocurrencies, main points are:

1️⃣ Recognition of cryptocurrency as property for tax purposes.
2️⃣ Income from mining will be accounted for at market value at the time of acquisition. The possibility of reducing income by expenses related to mining.
3️⃣ Transactions with cryptocurrency are exempt from VAT.
4️⃣ Income from cryptocurrency transactions will be accounted for in the same base as securities. The personal income tax rate will not exceed 15%.
5️⃣ Mining infrastructure operators are required to provide tax authorities with data about miners using their facilities.

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🍿 Gary Gensler is likely to resign from the position of SEC Chairman after Thanksgiving in early January, before Trump's inauguration.

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🇵🇱 A candidate for the presidency of Poland has announced plans to create a strategic Bitcoin reserve if elected.

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🔥 MicroStrategy has acquired 51 780 BTC for ~$4.6 billion at ~$88 627 per Bitcoin.

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🇰🇷 The South Korean government will confiscate cryptocurrency from the exchange accounts of tax delinquents and sell it directly on the exchange.

Additionally, South Korea plans to introduce a 20% tax on cryptocurrency income starting in 2025.

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🦄 The Bank for International Settlements (BIS) has published a study questioning the true decentralization of liquidity in DeFi. The analysis revealed that liquidity is largely concentrated among institutional investors, with decentralization existing only on a technical level.

Experts note that this structure resembles traditional finance and does not fully support the democratization of the market.

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🇧🇹 39% of Bhutan’s GDP is in Bitcoin, totaling $1.14 billion.

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