According to CCData and The Block's Data Dashboard, spot trading volumes on centralized exchanges increased in October for the first time in four months. CCData reported a total trading volume of $632 billion, while The Block recorded a lower figure of $516.43 billion. The increase in activity in digital asset markets was attributed to the anticipation of a potential approval of a spot bitcoin ETF and the overall bullish price action of major digital assets. Top-tier exchanges such as Coinbase and Binance also increased their market share of trading activity in the past month.

The National Securities Market Commission (CNMV) in Spain has launched its first-ever cryptocurrency advertising investigation against Miolos S.L. for two crypto-related campaigns that allegedly violated promotion rules. The CNMV claims that the campaigns failed to include warnings and relevant information about the risky nature of crypto assets and did not communicate with regulators before launching. The regulator is also investigating four other incidents related to similar breaches of crypto advertising. Firms must give the CNMV at least 10 days notice before advertising crypto assets to an audience exceeding 100,000 people.

Athena Bitcoin, a cryptocurrency ATM company in El Salvador, plans to integrate the Bitcoin Lightning Network into 100 of its ATM machines in the coming months.

Wally Adeyemo, Deputy Secretary of the U.S. Treasury, attended the Securities Industry and Financial Markets Association annual meeting in Washington on Tuesday and stated that the Biden administration hopes that Congress will grant new powers to help combat illegal activities related to cryptocurrency. Adeyemo mentioned that Hamas had openly sought to raise funds through cryptocurrency, which has led to "greater attention to the illicit financial use of digital assets." Adeyemo stated that the Treasury Department has been communicating with both the Democratic and Republican parties about the actions they may take. Action needs to be taken in some areas by Congress. The Treasury Department will continue to take action and work with legislators to urge the cryptocurrency industry to innovate responsibly. In addition, Adeyemo called on the cryptocurrency industry to engage in self-regulation. 

US media "Miami Herald" called on Republican presidential candidates to pay attention to cryptocurrencies. It pointed out that the future of US technological leadership, the position of the US dollar in the rapidly developing world, and excessive regulation are important issues that candidates for the US presidency should address. If Republican candidates oppose the creation of a US or American CBDC, they need to propose alternative solutions to ensure that the US dollar continues to be the preferred payment method globally. In addition, it questioned whether Republican presidential candidates would support policies to support the US dollar by having the US Treasury hold a certain amount of assets called "21st-century digital gold" Bitcoin. Previously, there were reports that Donald Trump, a Republican, may run for the next US president. He had launched a personal NFT collection card system.

Robinhood's financial report data shows that the company's cryptocurrency trading revenue in the third quarter decreased significantly to $23 million, a 55% decrease from the previous quarter. In the first quarter of 2023, the company's cryptocurrency trading revenue decreased by about 1% to $38 million. Revenue in the second quarter dropped to $31 million.

TradingView data shows that as the cryptocurrency market continues to rise, the total market value of cryptocurrency has exceeded $1.31 trillion, the highest reading since late May 2022 (when the Terra ecosystem crashed). Bitcoin has surged to $35,500, while Solana (SOL), toncoin (TON), and ecosystem tokens for Crypto.com (CRO) have risen by 5%-10% during the same period.

Bitcoin experienced a nearly 3% spike to $35,500 due to a short squeeze, while solana led the gains in altcoins. The cryptocurrency market cap reached its highest level since May 2022, totaling $1.3 trillion. K33 analyst recommends aggressively accumulating bitcoin in November. Altcoins such as Solana, Toncoin, and Crypto.com's Cronos ecosystem token gained 5%-10%, while Binance's BNB, Ripple's XRP, Cardano's ADA, and Dogecoin (DOGE) retreated 3%-4%. The CoinDesk Market Index (CMI) increased by 1%. The total cryptocurrency market capitalization reached $1.31 trillion, supported by increasing risk-on sentiment on traditional markets. K33 Research noted that capital rotation into altcoins is creating a "mini altcoin season," while accelerating inflows into bitcoin-related funds provide support for BTC's price.

The IRS is planning to increase its surveillance of cryptocurrency usage, which could result in the DOJ seizing cryptocurrency at an unprecedented rate. The DOJ's 2022 report on Executive Order 14067 recommends expanding its authority over criminal, civil, and administrative forfeiture. Despite the FBI and IRS seizing over $4 billion in cryptocurrency between 2014 and 2021, the DOJ argues that the US government is struggling to seize cryptocurrency. With the IRS collecting vast amounts of new information on Americans' cryptocurrency use, the DOJ may find new arenas for cryptocurrency confiscation, even without an actual crime being committed. The proposed crackdown on cryptocurrency by the IRS highlights the risks of mass data collection and should be monitored closely by users. The government's increasing interest in cryptocurrency, whether for audits or confiscation activities, is a cause for concern. Nicholas Anthony, a policy analyst at the Cato Institute, questions the rationale for the cryptocurrency provisions in The Infrastructure Investment and Jobs Act and advocates for a better framework for financial privacy in the digital age. This article is for informational purposes only and does not constitute legal or investment advice. <br>

Hong Kong is reportedly considering the possibility of allowing spot cryptocurrency exchange-traded funds (ETFs) in addition to the futures-based crypto ETFs currently allowed. The CEO of Hong Kong’s Securities and Futures Commission, Julia Leung, stated that the city-state welcomes proposals using innovative technology that boost efficiency and customer experience, as long as new risks are addressed. This move comes as Hong Kong aims to become a leading digital asset hub, with the rollout of a virtual assets regulatory framework earlier this year. Reports also suggest that the Hong Kong Monetary Authority has pushed for banks in the city-state to offer their services to licensed crypto exchanges.