1+ hour, 22+ min ago (281+ words) China's central bank reiterated its position on virtual assets this week. The People's Bank of China said cryptocurrencies, including stablecoins, are not legal tender. It also said related financial activities remain illegal in mainland China because of compliance and cross-border risk concerns. The statement followed a Nov. 26 meeting, during which the PBOC reviewed market risks associated with crypto payments and token transfers. The bank linked virtual assets to challenges in identity verification and financial monitoring. It cited risks around anti-money-laundering enforcement, fraud prevention, and cross-border fund movement that bypass state controls. Meanwhile, regulators repeated that banks and payment firms must not serve crypto businesses. Lenders cannot route, clear, or settle transfers linked to tokens in yuan or foreign currencies. As stablecoin use grows abroad, China is keeping a zero-tolerance line on virtual-asset payments at home, saying the policy protects its…...

2+ hour, 37+ min ago (378+ words) [Verra Turns to Hedera to Scale $35B Carbon Market with 1.3B Tonnes of Verified Impact]PharmaTrace will use Hedera Token Service and Hedera Consensus Service for product serialisation. It plans to launch a network utility token and contribute tools to the Hedera ecosystem. PharmaTrace has received 300,000 HBAR in funding through the Thrive Hedera program to advance what it calls a regulated decentralised physical infrastructure network (DePIN) for pharmaceutical supply [...] [Verra Turns to Hedera to Scale $35B Carbon Market with 1.3B Tonnes of Verified Impact] PharmaTrace will use Hedera Token Service and Hedera Consensus Service for product serialisation. It plans to launch a network utility token and contribute tools to the Hedera ecosystem. PharmaTrace has received 300,000 HBAR in funding through the Thrive Hedera program to advance what it calls a regulated decentralised physical infrastructure network (DePIN) for pharmaceutical supply chains. The company currently runs its…...

2+ hour, 44+ min ago (371+ words) 21Shares has confirmed that its U.S. spot XRP ETF will begin trading on Monday. The U.S. Securities and Exchange Commission (SEC) approved the launch through an 8-A filing that was filed on November 7. As a result, it became automatically effective after the standard review period. The ETF will carry a 0.50% management fee and aims to raise $500,000 in initial capital under the ticker TOXR. In terms of benchmark and structure, the ETF is specifically designed to track the spot price of XRP using the CME CF XRP'Dollar Reference Rate (XRPUSD_NY), calculated by a regulated benchmark provider. By doing so, investors can get direct exposure to XRP's spot price without the need to purchase, store, or manage the cryptocurrency. Also, both retail and institutional investors gain exposure to XRP through traditional brokerage accounts. This then makes entry into the market simpler, as XRP joins Bitcoin (BTC)…...

2+ hour, 53+ min ago (304+ words) CoinShares has stepped back from a slate of planned cryptocurrency exchange-traded funds in the United States, marking a shift in strategy as competition intensifies among traditional financial firms." The company, which manages approximately $10 billion in assets, has withdrawn its registration statements for proposed XRP, Solana Staking, and Litecoin ETFs. The decision follows months of market activity that implied a challenging environment for mid-sized issuers seeking to establish a foothold in a sector now dominated by much larger institutions. According to documents submitted on November 28, 2025, CoinShares filed Form RW requests to remove each of its pending applications. The filings confirm that no shares were sold and no transactions related to the earlier S-1 registration statements were completed. This includes the Solana Staking ETF, initially filed in June and amended multiple times through September; the XRP ETF, revised in August and October; and…...

2+ hour, 57+ min ago (263+ words) The UK is introducing an expansion of crypto reporting requirements that will force domestic crypto platforms to collect and report detailed transaction and user data for all UK-resident customers. This includes purely domestic transfers, as part of its implementation of the OECD-aligned Crypto-Asset Reporting Framework (CARF). The change is due to take effect from January 1, 2026, and will channel data to HM Revenue & Customs (HMRC) for tax and compliance purposes. The change will help HMRC detect and deter undeclared crypto income and capital gains, and will strengthen the UK's anti-money-laundering and counter-terrorist financing efforts by improving transparency of crypto flows. As reported in another CNF coverage, HMRC plans to update how it taxes DeFi activities like lending and liquidity-pool participation so the rules better match their real economic effect. Under the proposed approach, putting tokens into a DeFi loan or liquidity…...

21+ hour, 4+ min ago (356+ words) Arthur Hayes, former CEO of BitMEX, has criticized Monad, calling it a "VC coin" vulnerable to collapse. Speaking on Altcoin Daily, Hayes argued that Monad's high fully diluted valuation (FDV) and low token float create an unstable setup. He believes such token structures pose a real danger to smaller investors once insider tokens begin unlocking. FDV, the projected value if all tokens are released, often drives early hype. Hayes explained that this leads to short-term price boosts, followed by significant drops once insiders sell. "It's going to be another bear chain," he said, warning that temporary surges don't guarantee lasting success. Monad recently secured $225 million in funding from Paradigm, a venture capital firm known for backing high-profile crypto projects. The project officially launched on Monday, alongside the airdrop of its MON token. According to Hayes, the crypto market is overcrowded…...

23+ hour, 5+ min ago (251+ words) Ethereum's next major network upgrade, Fusaka, is coming next week and is scheduled for a December 3 release." The upgrade will highlight the chain's ability to scale for global demand without compromising decentralisation or permissionless access. It introduces changes affecting users, rollups, node operators, and enterprises. Fusaka aims to improve the everyday Ethereum experience, bringing the network closer to mainstream consumer-app usability. Data-scaling improvements are expected to support near-instant transactions, while mobile-ready wallets will be able to integrate cheaper passkey support for secure logins using on-device hardware. A key component of the upgrade, PeerDAS (EIP-7594), will enable data sampling, unlocking up to an eightfold increase in data throughput. The enhancement is designed to reduce blob fees for rollups, create more capacity for growth, and ultimately lower transaction costs for end users. The Fusaka upgrade introduces features intended to ease enterprise adoption....

23+ hour, 30+ min ago (331+ words) Bitcoin mining in Paraguay could face a setback starting in 2027 due to decisions driven by political considerations, according to Ricardo Prieto Sosa, director and founder of the Paraguayan Blockchain Chamber. The executive spoke on November 21 at Devconnect Argentina in Buenos Aires, an event at which he served'as a speaker. Prieto Sosa is a reference in the Paraguayan technology sector with more than three decades of experience and also serves as Director of Blockchain Innovation at Paradata S.A. Prieto Sosa explained that Paraguay maintains one of the highest levels of Bitcoin mining participation worldwide, "due to the fact that we have economical energy," which has attracted "many miners." The resources led miners in Paraguay to position the South American country as the fourth largest contributor of computing power to the network. The central change is that the Paraguayan government would not continue…...

1+ day, 14+ hour ago (400+ words) South Korean authorities say a North Korean state-backed hacking group likely stole about 44.5 billion won, roughly 30 million dollars, from the country's largest crypto exchange, Upbit. The breach hit a Solana hot wallet on Nov. 27, according to Upbit's operator Dunamu. Around 4:42 a.m. local time, the exchange detected abnormal withdrawals of Solana-based tokens and quickly suspended deposits and withdrawals on the network. The stolen assets included SOL, USDC, and a basket of other Solana ecosystem tokens that were sent to an external wallet not controlled by the exchange. Soon after the incident, Yonhap and other local outlets reported that investigators see "North Korean fingerprints" on the attack. Officials said the operation bears similarities to the 2019 Upbit hack, as featured in our coverage, when 58 billion won worth of Ethereum disappeared in a case later tied to North Korea's Lazarus Group. South Korea's police cyber…...

1+ day, 15+ hour ago (173+ words) As HMRC stated in the review, "The government is seeking views on modifying the tax treatment of decentralised finance (DeFi) lending and staking transactions " with the intention of creating a regime that better aligns the taxation of cryptoassets used in DeFi lending and staking with the underlying economic substance." In our recent report, the UK already urged to tax crypto to redirect capital to local stocks as HMRC engages with industry to refine legislation, with stakeholders stressing that tax should reflect actual economic activity rather than triggering a "disposal" on lending or staking tokens. A recent report indicates that roughly 77% of the total value locked in DeFi lending protocols in 2025 resides on Ethereum. Ethereum supports most DeFi activities, particularly staking and lending on platforms such as Lido, Aave, and Uniswap. As of the time of press, Ethereum (ETH) trades at…...