Mike Johnson elected as new Speaker of the House of Representatives
Mike Johnson has been elected as the new Speaker of the House of Representatives. He received three more votes than the 217 votes needed to win the position. He has no record of serving as a senior leader or committee chairman, and in fact has only been a member of the House of Representatives since 2017.
FCA: Cryptocurrency firms have breached UK’s new promotion rules 221 times since early October
The UK Financial Conduct Authority (FCA) has stated that cryptocurrency promotion companies have violated the new cryptocurrency marketing rules at least 221 times since they came into effect in early October. In a statement on October 25th, the FCA stated that companies have failed to provide sufficient risk warnings, risk information, and claims related to these issues since the implementation of the cryptocurrency promotion rules on October 8th. They have emphasized the security, protection, or ease of use of cryptocurrencies without highlighting the risks involved.
IRS extends comment period on new crypto tax law until mid-November
On October 25th, the US Internal Revenue Service extended the comment period for the new crypto tax law until November 13th. The proposed rules for 2026 will take effect and affect sales and transactions conducted in 2025.
Previously, the US Treasury Department released a nearly 300-page proposed rule that defined "brokers" in the crypto industry and resolved years of uncertainty around tax reporting. Under the new rules, CEX, payment processors, some custodial wallet providers, some DEX, and individuals or entities that cash out issued crypto tokens will need to fulfill tax reporting obligations. The new rules also introduce a new tax form for newly designated brokers, resolving confusion around which tax form to use.
Cobo: The inclusive version of the self-hosted solution Cobo MPC Lite is now online
Digital asset custody solution provider Cobo has announced the launch of Cobo MPC Lite, a self-custody solution for enterprise-level MPC (multi-party computation) with the aim of making self-custody solutions more accessible and cost-effective.
BitTrade signs agreement with Japan Open Chain to launch IEO
On October 25th, BitTrade and Japan Open Chain, a Japanese blockchain infrastructure, signed an agreement to launch an IEO (Initial Exchange Offering) and also promote cooperation in the technology field. IEO is a system in which cryptocurrency exchanges screen projects based on Japanese domestic laws and regulations, and publicly solicit and distribute tokens.
Bitcoin Funds Receive $61 Million Inflows, Primarily from Germany and Canada
Crypto funds worldwide received over $61 million in new capital on Monday, with almost all of it going towards Bitcoin funds. The influx of capital coincided with Bitcoin's price reaching $35,000, as investors eagerly await a spot Bitcoin ETF to reach the US market. The majority of the inflows came from Germany and Canada, where spot Bitcoin ETFs have been launched. However, US investors are still waiting for approval for a physical Bitcoin ETF, as existing products have seen virtually no flows in the last month. Both Grayscale and 21Shares are competing to launch a spot Bitcoin ETF, with the SEC required to either approve or deny the Ark/21Shares Bitcoin ETF application by January 10.
India, Nigeria, and Vietnam Lead the World in Crypto Adoption
India, Nigeria, and Vietnam are the top countries for crypto adoption, according to a new report by Chainalysis. However, North America accounts for almost a quarter of all cryptocurrency exchange value received, with the United States leading the way. Chainalysis used web traffic data to calculate adoption, with lower-middle income countries such as India and Nigeria being the greatest adopters since Q2 2022. While North America dominates the crypto market by volume, there has been a decline in institutional transaction volume since April, and stablecoin share has also fallen significantly.
11 crypto startups raised a combined $66.7 million in new funding rounds this week
11 cryptocurrency startups raised a total of $66.7 million in a new round of early-stage financing this week. SynFutures ranked first with a Series B financing of $22 million. Cryptocurrency and NFT futures DEX were led by Pantera Capital, Susquehanna International Group, and HashKey Capital in this round of financing.
Cryptozoologist Jameson Lopp: Legendary cryptographer Hal Finney is not Satoshi Nakamoto
According to a recent study by famous cryptographer Jameson Lopp, Lopp carefully investigated the activities of legendary cryptographer Hal Finney and compared them to the early activities of Bitcoin's founder, Satoshi Nakamoto, and concluded that Hal Finney was not Satoshi Nakamoto. Hal Finney, a cryptography professional who was one of the earliest supporters of Bitcoin and completed the first Bitcoin on-chain transfer with Satoshi Nakamoto, unfortunately passed away from ALS more than two years after the birth of Bitcoin.
Due to the timing of his death and Satoshi Nakamoto's disappearance, many people have suspected that the pseudonym of Satoshi Nakamoto was actually a disguise for Hal Finney.
Greeks.live: Crypto options IV surged this week, reaching highest level since July
Greeks.live posted on X platform, stating that with the volatility and price increase this week, the implied volatility (IV) of cryptocurrency options has risen sharply, reaching the highest level since July.
