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According to ShibDaily, the South Korean National Assembly has temporarily suspended all work related to cryptocurrency regulations due to the ongoing political crisis involving martial law and impeachment proceedings against President Yoon Suk Yeol. This decision follows a brief period of martial law declared by the president, which has left the crypto sector in a state of uncertainty. Before the suspension, the National Assembly had approved a legal amendment to delay the implementation of the crypto tax until January 2027. This amendment was crucial as it prevented the tax from being enforced on January 1, 2025, as initially planned. A National Assembly official commented on the situation, indicating that all crypto-related policies have been put on hold due to the impeachment issue, making it unlikely for any votes on these matters to occur soon. Discussions on crypto regulations are expected to resume no earlier than the first half of 2025, with bills concerning virtual assets facing indefinite delays until the political situation stabilizes. Despite the halt in regulatory progress, there remains some optimism within the industry. The Financial Services Commission (FSC) has completed comprehensive guidelines for corporate cryptocurrency accounts, developed in collaboration with the Virtual Asset Committee, and plans to implement them later this month. However, concerns are growing that domestic blockchain and virtual asset companies, along with investors, might consider relocating abroad due to the ongoing political instability. This article is intended for informational purposes only and should not be considered as financial advice. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

According to Foresight News, Brazilian asset management firm Hashdex has announced the appointment of Mick McLaughlin, a former executive at BlackRock, as the head of U.S. distribution. This strategic move aims to enhance the company's presence in the U.S. market for its cryptocurrency exchange-traded fund (ETF) products and strengthen its sales team.McLaughlin brings a wealth of experience to Hashdex, having held executive roles at Bitwise, Deutsche Bank, and Barclays. His extensive background in the financial sector is expected to play a crucial role in expanding Hashdex's influence in the competitive U.S. market. McLaughlin expressed his enthusiasm for joining Hashdex, highlighting the company's commitment to advancing the global digital asset market through innovative products and investor education.Hashdex's focus on cryptocurrency asset management positions it uniquely in the rapidly evolving digital finance landscape. The firm's efforts to bolster its U.S. operations reflect a broader strategy to capitalize on the growing interest in digital assets among American investors. By leveraging McLaughlin's expertise, Hashdex aims to navigate the complexities of the U.S. financial market and establish itself as a leading player in the cryptocurrency ETF space.

According to Odaily, financial market analyst Kyle Rodda from Capital.com has provided insights into the upcoming U.S. Consumer Price Index (CPI) data for November. Rodda suggests that the anticipated CPI figures could pave the way for a Federal Reserve interest rate cut next week. This potential monetary policy shift is seen as a significant catalyst for gold prices.The expected CPI data is crucial as it may influence the Federal Reserve's decision-making process regarding interest rates. A rate cut could have broad implications for various financial markets, particularly impacting the value of gold. Investors and analysts are closely monitoring these developments, as changes in interest rates often affect the attractiveness of gold as an investment. Lower interest rates typically reduce the opportunity cost of holding non-yielding assets like gold, potentially driving up its demand and price.

According to Odaily, Romanian cryptocurrency entrepreneur Bogdan Peșchir has been implicated in an investigation concerning election fraud financing. Authorities discovered $7 million at Peșchir's residence, raising suspicions about his involvement in sending $381,000 to various TikTok accounts. These accounts have been actively promoting Călin Georgescu, a far-right, pro-Russian independent candidate, who emerged on Romania's political scene just weeks before the first round of voting in late November.Approximately 25,000 TikTok accounts, with a combined following of 8 million, have suddenly started endorsing Georgescu, an unknown anti-NATO engineer. This unexpected surge in support has drawn attention to Peșchir's connections within the cryptocurrency industry. His business dealings include a partnership with BitXATM, a Romanian crypto ATM company that faced a theft scandal in 2016. The company's founder, Gabrial Prodanescu, accused a former employee of the crime, and Peșchir testified during the trial, which resulted in a conviction.Following the incident, BitXATM ceased updating its website, leading some users to report lost funds. Prodanescu later established another cryptocurrency company in the UK under the same name and also launched a subsidiary called Globaya LTD, where Peșchir is listed as an employee. This series of events has intensified scrutiny on Peșchir's role in the election fraud investigation.

According to Cointelegraph, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Francier Obando Pinillo, a pastor, accusing him of orchestrating a crypto Ponzi scheme that allegedly defrauded 1,500 individuals, including members of a Washington-based church. The CFTC claims the scheme amassed $6 million through fraudulent activities.The complaint, filed on December 9 in a Spokane federal court, alleges that Pinillo misled his congregants and others via social media by promoting a trading platform that promised high returns through "high-performance" cryptocurrency trading. The CFTC asserts that from November 1, 2021, to December 31, 2023, Pinillo presented himself as the CEO of Solanofi, Solano Partners Ltd., and Solano Capital Investments, claiming these entities formed the "Solano ecosystem" and engaged in trading Bitcoin (BTC), Ether (ETH), Tether (USDT), and other cryptocurrencies on behalf of clients.Pinillo allegedly assured customers of monthly profits up to 34.9% through Solanofi, purportedly utilizing a bot and other software for crypto trading. Additionally, a staking service for Bitcoin, Ether, Solana (SOL), USDT, and Dogecoin (DOGE) was offered under Solanofi 2.0, which promised guaranteed profits. The CFTC's complaint details that users were provided with an online dashboard displaying account statements, balances, and profits, alongside a 15% referral fee to incentivize recruitment of new participants.However, the CFTC contends that no actual trading or staking services were conducted as advertised. The complaint states that the representations and account statements were fabricated, with no automated trading program, customer accounts, or profits generated. Instead, it alleges that Pinillo misappropriated all digital and fiat assets transferred by customers.The CFTC further claims that Pinillo targeted "unsophisticated customers" with limited experience in digital asset transactions, commodity interest trading, or staking digital assets. The solicitations were reportedly conducted almost exclusively in Spanish, exploiting Pinillo's position of trust as a pastor.The regulator is seeking restitution for defrauded customers, forfeiture of all funds obtained through the scheme, a trading ban, and a permanent injunction against Pinillo. Information regarding Pinillo's legal representation was not immediately available, and he did not respond to a request for comment sent via social media.

According to Foresight News, Ripple's Chief Legal Officer, Stuart Alderoty, has agreed with the view that SEC Commissioner Caroline Crenshaw poses more challenges in the crypto sector than SEC Chair Gary Gensler. This perspective arises from Crenshaw's firm stance against a court ruling that deemed the SEC's decision to block a Bitcoin spot ETF as 'arbitrary and capricious.' While Gensler appeared to retreat following the court's decision, Crenshaw maintained her opposition, arguing that the court's judgment was incorrect.Previously, Foresight News reported that Caroline Crenshaw, known for her skepticism towards cryptocurrencies, is seeking reappointment as an SEC commissioner. 

According to Odaily, South Korea's opposition party is preparing to hold a vote on an impeachment motion. The vote is scheduled for December 14 at 5 PM local time (UTC+8). This development comes amid heightened political tensions in the country, as the opposition seeks to challenge the current administration's policies and leadership.The decision to proceed with the impeachment vote reflects the opposition's growing dissatisfaction with the government's handling of various issues. The move is expected to intensify the political climate in South Korea, as both supporters and opponents of the impeachment prepare for the upcoming vote. The outcome of this vote could have significant implications for the country's political landscape, potentially leading to shifts in power dynamics and policy directions.As the date approaches, political analysts and citizens alike are closely monitoring the situation, anticipating the potential impact of the impeachment vote on South Korea's future governance. The opposition's actions underscore the ongoing debates and divisions within the country's political sphere, highlighting the challenges faced by the current administration in maintaining stability and addressing public concerns.

According to Odaily, on the morning of the 11th local time, South Korean ruling party lawmaker Kim Jae-seop announced via a televised broadcast that he would no longer adhere to the party's stance against impeaching President Yoon Suk-yeol. Kim stated his intention to vote in favor of the impeachment in the upcoming proceedings. This development marks a significant shift within the ruling People Power Party, as five lawmakers have now expressed their support for the impeachment.The South Korean National Assembly comprises 300 seats, and for the impeachment motion to pass, it requires the approval of at least two-thirds of the members, equating to a minimum of 200 votes. Currently, the opposition bloc, which includes the largest opposition party, the Democratic Party of Korea, holds 192 seats. The ruling party controls 108 seats. Suppose all opposition members vote in favor of the impeachment. In that case, only eight additional votes from ruling party lawmakers are needed for the motion to pass through the National Assembly and proceed to the Constitutional Court of Korea for further deliberation.Three more ruling party lawmakers need to support the impeachment to meet the required threshold. This situation underscores the political tension and division within the ruling party and the broader political landscape in South Korea. The outcome of this impeachment process could have significant implications for the country's political future and governance.

According to Odaily, U.S. Treasury Secretary Janet Yellen has engaged in discussions with Scott Bessent, the nominee for Treasury Secretary proposed by former President Donald Trump. The conversation focused on the extensive responsibilities of the Treasury Department. Yellen emphasized the importance of integrity and the capability to conduct reliable analyses within the department's professional staff.Yellen also expressed her concerns regarding fiscal responsibility, highlighting the need to reduce the national deficit. She conveyed her hope that Congress will find a way to fund any extensions of the individual tax cuts enacted under Trump's administration in 2017. This dialogue underscores the ongoing focus on fiscal policies and the challenges of managing the nation's finances effectively.

According to Odaily, U.S. President-elect Donald Trump has announced his intention to appoint Andrew Ferguson as the new chairman of the Federal Trade Commission (FTC). This decision marks a significant step in shaping the future direction of the FTC, which plays a crucial role in regulating trade practices and ensuring consumer protection in the United States.The appointment of Ferguson is expected to bring a fresh perspective to the FTC, as he is known for his expertise in trade regulations and consumer rights. His leadership is anticipated to influence the commission's approach to addressing emerging challenges in the digital economy and maintaining fair competition across various industries. As the FTC continues to navigate complex issues related to technology and commerce, Ferguson's appointment could signal a shift towards more stringent oversight and enforcement of trade practices.This announcement comes at a time when the FTC is under increasing pressure to adapt to the rapidly changing landscape of global trade and digital markets. With Ferguson at the helm, the commission may prioritize initiatives aimed at enhancing consumer protection and promoting fair competition. Stakeholders in the business community and consumer advocacy groups will be closely monitoring how Ferguson's leadership will impact the FTC's policies and enforcement strategies in the coming years.

According to Foresight News, Reuters reports that Goldman Sachs CEO David Solomon addressed questions regarding the bank's stance on cryptocurrencies and its potential involvement in trading them. Solomon emphasized that regulatory changes are necessary for banks to engage in such activities. He stated, "This is a question you must ask the regulators. Currently, as a regulated banking institution, we are not permitted to hold cryptocurrencies like Bitcoin as principal assets."Solomon further explained that while Goldman Sachs provides clients with advice on various technologies and issues, the bank's ability to operate in cryptocurrency markets is significantly restricted by current regulations. He reiterated that the bank will continue to offer guidance to its clients but highlighted the limitations imposed by the regulatory framework. The CEO's comments underscore the ongoing challenges faced by traditional financial institutions in navigating the evolving landscape of digital currencies.

According to Odaily, Google has reportedly requested the U.S. government to terminate Microsoft's exclusive agreement to host OpenAI technology on its cloud servers. This development emerged following inquiries by the Federal Trade Commission (FTC), a key federal antitrust enforcement agency, into Microsoft's business practices as part of a broader investigation.The request from Google comes amid growing competition in the cloud server leasing market, where companies like Google and Amazon are vying for a share. These companies are keen to host OpenAI's artificial intelligence technology themselves, allowing their cloud customers to access the startup's innovations without relying on Microsoft's servers. This move highlights the competitive dynamics in the cloud computing sector, where major players are seeking to expand their offerings and reduce dependency on rivals.The FTC's investigation into Microsoft's business conduct is part of a larger scrutiny of the tech giant's market practices. As the cloud computing industry continues to grow, the ability to host cutting-edge AI technologies like those developed by OpenAI is becoming increasingly important for cloud service providers. By hosting such technologies, companies can attract more customers seeking advanced AI capabilities, thereby enhancing their competitive edge in the market.

According to Odaily, South Korea's Ministry of Finance has announced its commitment to closely monitor trends in the financial and foreign exchange markets. The ministry emphasized its readiness to implement comprehensive measures to curb excessive volatility in the forex market.

According to BlockBeats, U.S. President-elect Donald Trump announced on December 11 that any individual or company investing $1 billion or more in the United States will receive expedited approvals and permits. This statement underscores Trump's commitment to fostering significant economic growth and attracting substantial investments into the country.Trump's announcement is part of a broader strategy to stimulate the U.S. economy by encouraging large-scale investments. By offering accelerated approval processes, the administration aims to reduce bureaucratic hurdles and make the U.S. a more attractive destination for major investors. This move is expected to create jobs and boost economic activity, aligning with Trump's campaign promises to revitalize American industry and infrastructure.The promise of fast-tracked approvals is likely to appeal to both domestic and international investors looking to capitalize on opportunities within the U.S. market. It reflects a pro-business stance that could lead to increased foreign direct investment, potentially enhancing the country's competitive edge in the global economy. As the new administration prepares to take office, such policy announcements are being closely watched by stakeholders eager to understand the future direction of U.S. economic policy.

According to PANews, Italy's ruling party announced on Tuesday that it will scale back its plan to increase the capital gains tax on cryptocurrencies following criticism from affected industries and internal debate within the Ministry of Economy. Giulio Centemero, a member of the coalition party, and Federico Freni, the Deputy Minister of Finance, stated in a joint declaration that the proposed tax hike will be significantly reduced during parliamentary discussions.Initially, the Ministry of Finance intended to raise the capital gains tax rate on cryptocurrencies like Bitcoin from 26% to 42% as part of the 2025 budget, which is expected to receive parliamentary approval by the end of December. However, the coalition party expressed concerns that such a move could encourage the growth of the shadow economy. On Tuesday, Centemero and Freni urged against harboring biases towards cryptocurrencies. Political insiders suggest that the government might even opt to maintain the current 26% tax rate.

According to Odaily, a South Korean official aligned with President Yoon Suk-yeol has revealed that the President is resolute in his decision to confront the constitutional hearing under impeachment rather than resigning prematurely. This development comes amid growing political tensions in the country, as the President faces significant challenges from opposition parties.The decision to proceed with the constitutional hearing highlights President Yoon's determination to address the impeachment charges head-on. This move is seen as a strategic choice to maintain his position and defend his administration's policies and actions. The political landscape in South Korea is currently marked by intense scrutiny and debate over the President's leadership, with various factions weighing in on the implications of the impeachment process.As the constitutional hearing approaches, the focus will be on the legal and political arguments presented by both the President's defense team and the opposition. The outcome of this hearing could have far-reaching consequences for South Korea's political future, influencing not only the current administration but also setting precedents for how similar situations might be handled in the future. Observers are closely monitoring the situation, as it unfolds, to gauge the potential impact on the country's governance and stability.

According to CoinDesk, El Salvador and Argentina have entered into a partnership to advance the cryptocurrency industry across Latin America. This collaboration was formalized through an agreement signed by Juan Carlos Reyes, El Salvador’s leading crypto regulator and president of the Comisión Nacional de Activos Digitales (CNAD), and Roberto Silva, president of Argentina's Comisión Nacional de Valores (CNV). The agreement aims to foster cooperation in crypto regulation between the two nations.Reyes emphasized the importance of international collaboration, stating that CNAD's objectives include sharing expertise with global partners to leverage the benefits of a well-regulated crypto industry and expanding the international presence of regulated companies through strategic partnerships. He highlighted the significance of this agreement with Argentina, noting the country's reputation for technological innovation and high adoption rates.While specific details of the agreement remain undisclosed, Reyes mentioned on LinkedIn that the collaboration is intended to facilitate the exchange of knowledge and experience between the regulatory bodies, thereby encouraging crypto innovation. He expressed that the joint efforts of El Salvador and Argentina would establish a foundation for enhanced regional cooperation, creating a conducive environment for the growth of the digital asset industry.El Salvador has been at the forefront of crypto regulation, having made bitcoin legal tender under President Nayib Bukele's leadership. This move has given the country a head start in the crypto regulatory landscape. In contrast, Argentina's President Javier Milei has shown ideological support for cryptocurrencies and bitcoin, gaining popularity among Argentinian crypto developers for his policies aimed at mitigating inflation. This partnership between El Salvador and Argentina marks a significant step towards strengthening the crypto industry in Latin America.

According to Cointelegraph, Nevada Secretary of State Francisco Aguilar has announced the integration of blockchain technology into the state's electoral certification process. This development, revealed on December 10, comes after the conclusion of the 2024 United States presidential election. Aguilar's office emphasizes that this move aims to enhance election integrity in the future.Aguilar stated that Nevada is dedicated to conducting the most secure elections in the nation, with blockchain technology playing a crucial role in these efforts. He highlighted that blockchain provides significant protection by making it more challenging to alter or counterfeit essential documents, thereby ensuring a transparent and trustworthy certification process. Nevada takes pride in leading the nation in adopting emerging technology to safeguard election integrity.Currently, details about the implementation are limited. It remains unclear whether Nevada has developed its proprietary blockchain or is utilizing existing commercial or open-source blockchain technology. Cointelegraph reached out to the secretary's office for further information but has not yet received a response. The electoral certification process is expected to be recorded on an immutable blockchain ledger, serving as the state's official election record.The next phase involves certification by the state and national archives, positioning Nevada among the first US states to employ blockchain technology for electoral certification. Alaska and Georgia have piloted similar initiatives, and numerous other states have proposals at various stages of implementation.Nevada's commitment to bolstering election integrity follows the 2023 indictment of six Republican certifiers amid allegations of "fake electors" attempting to unlawfully overturn the 2020 US presidential election results. The indictment was later dismissed in court. Among those indicted were Nevada Republican chair Michael McDonald and Clark County Republican chair Jesse Law, who eventually served as legitimate electors in the 2024 presidential race.

According to CoinDesk, the Financial Conduct Authority (FCA) plays a pivotal role in determining the operational landscape for cryptocurrency firms in the United Kingdom. At the helm of this regulatory body is Matthew Long, the FCA's director of payments and digital assets. Under Long's leadership, the FCA has implemented a stringent regulatory framework that mandates compliance with anti-money laundering regulations. As a result, only four cryptocurrency firms have been granted approval to conduct business in the UK in 2024, out of a total of 365 applicants.The authority of the FCA is poised to expand further. Long, who is responsible for policy development within the crypto sector, has conducted a series of roundtable discussions earlier this year focusing on the UK's forthcoming crypto regulatory framework. The FCA has announced plans to release a series of papers aimed at soliciting industry feedback on various aspects such as stablecoins, trading platforms, and staking. The objective is to establish definitive regulations for the sector by 2026.Matthew Long's role involves constructing a more comprehensive regulatory framework with additional permissions and a new authorization regime. This development leaves the cryptocurrency industry in anticipation, as firms await the opportunity to gain entry into the UK market under the new regulations.

According to CoinDesk, Howard Lutnick, the head of Cantor Fitzgerald, a leading Wall Street bond brokerage, plays a significant role in the financial and political landscape. Cantor Fitzgerald is one of the select primary dealers authorized to trade directly with the Federal Reserve. This status adds weight to Lutnick's assertion that Tether, for which he serves as the U.S. Treasuries dealer, possesses the financial backing it claims for its USDT stablecoin. His statement has effectively dispelled conspiracy theories questioning Tether's financial reserves.Lutnick's influence extends beyond finance into the political arena, particularly in the realm of cryptocurrency. He is a known advocate for bitcoin and stablecoins, aligning himself closely with President-elect Donald Trump. Currently, Lutnick serves as co-chair of Trump's transition team and has been nominated to lead the Commerce Department. While it remains uncertain how much Lutnick influenced Trump's evolving stance on cryptocurrency—from a somewhat skeptical view during his first presidency to a more supportive position during the recent campaign—his advocacy likely played a role in shaping Trump's perspective.This insight into Lutnick's dual influence in both Wall Street and political circles highlights his significant impact on the intersection of finance and policy. His involvement in both sectors underscores the growing importance of cryptocurrency in mainstream financial and political discussions. This profile is part of CoinDesk's Most Influential 2024 series, showcasing key figures shaping the future of finance and technology.