[Crypto gains accrued through end-2028 to remain tax-exempt if South Korea delays tax plan]

If the government’s proposal to delay cryptocurrency taxation by an additional two years passes the National Assembly, valuation gains accrued through the end of 2028 will be excluded from taxation even if the assets are sold after 2029.

According to material released on Nov. 10 by Bae, Kim & Lee LLC, cryptocurrencies acquired before the tax takes effect and held continuously will be recognized at the higher of their market value at the end of 2028 or their actual purchase price as the acquisition cost. That means there is no need to sell before the tax takes effect solely to realize unrealized gains.

Conversely, if the actual purchase price is higher than the market value at the end of 2028, gains and losses on a later sale will be calculated based on the actual purchase price, meaning price declines before the tax takes effect could be reflected as capital losses. The government said, however, that losses finalized through sales made before the tax takes effect will not be eligible for carryforward deductions.

A plan is being pursued to allow losses incurred after the tax takes effect to be deducted from gains in the next three tax years following the year the loss occurs. The basic deduction of 2.5 million won and the 22% tax rate, including local income tax, will remain unchanged. Overseas financial account reporting requirements and inheritance and gift taxes will continue to apply regardless of the delay.
https://coinness.com/en/news/1175006
See more: https://www.bkl.co.kr/law/insight/newsletter/6855

[Waller backs 25bp December rate hike, leaves door open to 50bp]

Federal Reserve Governor Christopher Waller said he would support a 25-basis-point rate hike in December and would also back a 50-basis-point increase if needed.

Waller said the Fed would need further monetary tightening, with U.S. inflation still too high and September inflation data disappointing. Waller added that broad-based price pressures were particularly concerning, and said even if October CPI improves from September, it could still support a 25-basis-point rate hike in December. If October core CPI rises by around 0.3% or more, the Fed may need to deliver a 50-basis-point increase in December.
https://coinness.com/en/news/1175007

[ETH staking ratio rises to 36.3% of supply despite price decline]

Ethereum’s staking ratio has continued to rise even as ETH prices fall, crypto analyst Pelin Ay said on X.

Since May, the ETH staking ratio has risen about 4.32% to 36.32% of total supply, while the price has fallen from $2,800 to $2,132 since October, Ay said. Ay said the expanding share of staked ETH signals investor confidence remains intact. Staking inflows have fallen 40.11%, but a larger long-term staking pool could reduce the amount of ETH available for circulation in the market and support prices, although staked ETH can still be withdrawn and is not permanently removed from circulating supply.
https://coinness.com/en/news/1175008

[Maple Finance’s SYRUP falls as lending-related assets shrink]

SYRUP, the native token of DeFi lending protocol Maple Finance, has dropped around 50% as lending-related assets have declined, fueling concerns over the protocol’s liquidity and capital outflows, according to an analysis by The Defiant.

Maple Finance’s total value locked currently stands at $2.22 billion. Assets under management for syrupUSDC, a stablecoin-based yield product, were $2.36 billion, down from $2.68 billion recorded on Oct. 19. The decline in syrupUSDC indicates that capital allocated to lending and yield products within the Maple ecosystem is shrinking.
https://coinness.com/en/news/1175009

[Telegram-based wallet Walt launches app for crypto and tokenized stock trading]

Telegram-based cryptocurrency wallet Walt has launched a standalone app supporting trading in cryptocurrencies and stock tokens, The Block reported.

The new app supports trading in more than 200 cryptocurrencies, more than 100 U.S. tokenized stocks and ETFs, and perpetual futures tied to crypto, metals and energy. Existing users can log in with their Telegram accounts, while new users can sign up with Google or Apple accounts. Walt previously rebranded from Wallet in Telegram on Sept. 28, according to The Block.
https://coinness.com/en/news/1175010

[Bithumb to temporarily suspend MANTRA withdrawals today at 1:00 p.m. UTC]

Bithumb announced MANTRA withdrawals will be temporarily suspended from 1:00 p.m. UTC today due to a MANTRA network upgrade.
https://coinness.com/en/news/1175011

[Binance warns iOS flaw may expose seed phrases and private keys]

Binance warned a vulnerability known as worse_query, which affects iOS 26.7.1, 27.0.1 and 27.2, could let malicious apps read local files from other apps and expose seed phrases, private keys and login credentials. Binance said the issue is not limited to its platform and stems from iOS itself.

The exchange recommended deleting apps installed from untrusted sources, including sideloaded apps or manually signed IPA files, and updating iOS and all apps to the latest official versions. If compromise is suspected, Binance advised users to move funds to a new wallet created on an uninfected device and reset all active login sessions.
https://coinness.com/en/news/1175012

[14 public companies sold $8.1B worth of BTC this year]

Fourteen public companies sold a combined 108,247 BTC worth $8.08 billion this year, according to Lookonchain. Among them, Bitcoin mining firm MARA Holdings (Nasdaq: MARA) sold 40,581 BTC worth $3.03 billion at an average price of $74,446, while U.S. Bitcoin miner Riot Platforms (Nasdaq: RIOT) sold 20,264 BTC worth $1.51 billion at an average price of $73,231.
https://coinness.com/en/news/1175013

[Framingham, Massachusetts bans crypto ATMs after fraud cases]

Framingham, Massachusetts, has banned the installation and operation of crypto ATMs after a string of fraud cases tied to the machines, the Daily Hodl reported. Middlesex County District Attorney Marian Ryan said residents in Framingham lost a combined $397,000 in 10 crypto ATM-related fraud cases since 2023. Police plan to notify businesses hosting the machines to disconnect them by a set deadline.
https://coinness.com/en/news/1175014

[Superfluid adds Celo support for wallets for users and agents]

Superfluid said its single wallet for users and agents now supports the Celo network.
https://coinness.com/en/news/1175015

[IMF urges Kenya to adopt crypto travel rule]

The International Monetary Fund has urged the Kenyan government to establish rules for virtual asset service providers to implement the crypto travel rule, Africa-based outlet Business Daily reported. The IMF recommended requiring virtual asset service providers, or VASPs, to collect and verify identifying information on cryptocurrency senders and recipients, share that information with one another, and provide it to Kenya’s Financial Reporting Centre, or FRC. Kenya has been on the Financial Action Task Force gray list since February 2024 amid shortcomings in its anti-money laundering and counter-terrorism financing framework.
https://coinness.com/en/news/1175016

[Exodus swings to Q3 net loss despite 7% revenue growth]

Crypto wallet provider Exodus said it posted $32.5 million in third-quarter revenue, up 7% from $30.3 million a year earlier, but swung to a net loss of $8.3 million from a profit.

Ahead of the earnings release, Exodus shares closed up 10.07% at $4.48 on Monday, though the stock remained down about 70.21% year to date. Exodus is also expanding beyond its self-custodial wallet business into financial services. In June, the company partnered with Ondo Finance to launch "Exodus Markets," giving Solana-based wallet users access to more than 200 tokenized stocks, ETFs and other assets.
https://coinness.com/en/news/1175018

[Hyperscale Data sells all 211.56 BTC holdings for $16M]

U.S.-listed Bitcoin accumulation firm Hyperscale Data (DAT; ticker: GPUS) has sold all 211.56 BTC it held, worth $16 million, Walter Bloomberg reported. The company said it plans to use the proceeds to repay debt and develop an AI data center in Michigan.
https://coinness.com/en/news/1175019

[Lisk burns 5.2 million LSK, total supply falls below 295 million]

Lisk said it permanently burned 5.2 million LSK in staking rewards left on the chain, as previously announced when the Lisk chain was shut down. Following the 100 million LSK burn in September and the latest burn, LSK’s total supply has fallen below 295 million.

LSK staked on the Lisk chain and other community-owned LSK were excluded from the burn and can be claimed starting in January 2027.
https://coinness.com/en/news/1175020

[Zcash blocks Sprout pool spending under NU7 upgrade]

According to AI-based crypto market analysis agent AIXBT, Zcash implemented the NU7 upgrade on Nov. 6, blocking all coin spending from Sprout, its first privacy pool. About 12,224 ZEC was held in Sprout as of a snapshot taken on Nov. 5. Developers removed version 4 transactions, the only way to spend those coins, to eliminate outdated and complex validation code as well as denial-of-service, or DoS, risk. The coins still exist, but cannot be moved unless future consensus rule changes restore access, and developers said such a recovery may never happen.
https://coinness.com/en/news/1175021

[Cantor Fitzgerald maintains $208 price target on Strategy]

Wall Street investment bank Cantor Fitzgerald has maintained its $208 price target and Overweight rating on Strategy (MSTR), Crypto Briefing reported. Cantor Fitzgerald had earlier raised its 12-month price target for Bitcoin (BTC) to $112,000 from $98,000.
https://coinness.com/en/news/1175022

[Upbit to temporarily suspend INJ deposits and withdrawals on Nov. 11]

Upbit announced it will temporarily suspend INJ deposits and withdrawals at 9:00 a.m. UTC on Nov. 11 for the Injective network upgrade.
https://coinness.com/en/news/1175023

[Miami adds Bitcoin as a property tax payment option]

The city of Miami in Florida has added Bitcoin as a payment option for property taxes, The Bitcoin Historian reported.
https://coinness.com/en/news/1175024

[BTC exchange inflows plunge, easing potential selling pressure]

CryptoQuant contributor MAC.D said in a post on X that while losses among short-term Bitcoin investors are widening, potential selling pressure is easing as exchange inflows decline.

MAC.D said the seven-day moving average of Bitcoin’s short-term holder spent output profit ratio, or STH-SOPR, stood at around 0.99, indicating loss-taking remains dominant. At the same time, exchange inflows from short-term investors sitting on losses fell 69.7% to about 9,900 BTC on Nov. 9 from 32,695 BTC on Nov. 6. MAC.D added that in past bull markets, periods when selling pressure eased after loss realization by short-term investors increased have at times served as accumulation opportunities. If the decline in exchange inflows continues, the analyst said, attention should be paid to the possibility of a BTC price rebound.
https://coinness.com/en/news/1175025

[Canaan Q3 revenue plunges 90% year over year]

Bitcoin mining rig maker Canaan posted third-quarter revenue of $14.5 million, down 90% from a year earlier, The Block reported. The decline came as mining rig revenue fell 96%. Despite the revenue drop, Canaan recorded net income of $8 million, driven not by improved operating performance but by about $52 million in fair-value gains on cryptocurrencies and derivatives.
https://coinness.com/en/news/1175026

[MEXC says platform operating normally as it begins review tied to FinCEN order]

Global cryptocurrency exchange MEXC said it is operating normally and has begun an independent review of its anti-money laundering and sanctions compliance systems in connection with a Nov. 6 order from the U.S. Treasury Department's Financial Crimes Enforcement Network, according to an official statement.

Vugar Usi, CEO of MEXC, said on X the company is taking FinCEN's findings seriously and that exchange deposits and withdrawals are continuing as normal. Usi added blockchain analytics firm Elliptic has withdrawn the special risk classification it had assigned to MEXC and reclassified the platform as a general exchange. MEXC added it will provide future updates through its official channels.
https://coinness.com/en/news/1175027