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Sources reveal that if CEX is classified as a financial institution under the proposed digital asset legislation, the South Korean government will consider imposing an education tax on it. The government has recently communicated this view to the heads of various cryptocurrency CEXs.A senior government official stated that if exchanges are included in the financial insurance industry, the issue of education tax collection will arise. Currently, cryptocurrency trading and brokerage businesses in South Korea are classified as information and communication businesses and are not required to pay education tax. Banks, insurance companies, and brokerages pay education tax based on their operating income, with a tax rate of 0.5% on the first 1 trillion won and a tax rate of 1% on amounts exceeding 1 trillion won.

According to Bloomberg, the Dutch cryptocurrency industry organization has warned that if cryptocurrencies are excluded from the proposed new capital gains tax system, investors may sell off their crypto assets.Under the current proposal from Dutch regulators, financial assets such as stocks, bonds, and options are planned to transition to a capital gains tax upon sale starting in 2028, while cryptocurrencies, gold, and foreign exchange may still be required to pay annual taxes on unrealized gains at least until 2030.

According to a report by The Block, Galaxy Research stated that the Bitcoin bear market ended in June, and it is currently an attractive time to buy and hold.The report noted that Bitcoin has closed above the 50-week moving average for five consecutive weeks as of October 18, after being below that average for 44 weeks; the monthly moving volume of Bitcoin in long-term holding wallets has decreased from 67,000 BTC in 2024 to 34,000 BTC in 2026. Galaxy Research Director Alex Thorn also pointed out that if Bitcoin's weekly close falls below the 50-week moving average of $76,540 and fails to recover within a month, this bullish outlook will be challenged.

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According to CoinDesk, a snapshot from Galaxy Research in October shows that out of approximately 21 million mined Bitcoins, about 11.1 million (approximately 55%) are held in addresses that cannot be linked to exchanges, funds, governments, or other known entities. Alex Thorn, the head of research at Galaxy, stated that this indicates that despite the increasing institutionalization, a significant amount of Bitcoin may still be self-custodied by individuals. Xapo Bank believes this reflects the fact that retail investors have been in the market for over a decade.However, this portion of unallocated Bitcoin does not all belong to individuals who have been self-custodying for the long term; it may also include coins that are inaccessible due to lost private keys or the death of the holder, holdings from institutions or over-the-counter traders that Galaxy has not yet identified, as well as custodial assets spread across multiple addresses. The remaining 45% has been allocated, including ETFs from issuers like exchanges and BlackRock, as well as the U.S. government; among them, the single largest holder is "Satoshi Nakamoto (Patoshi model)," holding 1,123,658 BTC.

According to Bitcoin.com, Yuridia Trujillo, a tax preparer from Meriden, Connecticut, is accused of fabricating stock and cryptocurrency trading losses in tax returns prepared for clients through her company, Yuri's LLC, for the tax years 2017 to 2024, for assets that the clients never actually held. The Internal Revenue Service (IRS) stated that she is also suspected of using Form 8888 to divert part of the clients' tax refunds into bank accounts belonging to herself and an associated individual.A federal grand jury indicted her on October 7, and she was arrested on October 9. She is currently out on bail of $50,000 and faces 19 counts of aiding in the preparation of false income tax returns, with each conviction carrying a maximum sentence of three years in prison. The case remains an accusation, and she is presumed innocent until proven guilty. Previously, Texas Bitcoin investor Frank Richard Ahlgren III was sentenced to two years in prison in December 2024 for inflating the cost of Bitcoin purchases and was ordered to pay approximately $1.095 million in restitution.

China Asset Management (Hong Kong) and Futu's licensed virtual asset trading platform Cheetah Trading announced the launch of a digital public fund approved by the Hong Kong Securities and Futures Commission, offering 24/7 secondary market trading services. Retail investors can buy and sell tokenized shares of China Asset Management's Hong Kong dollar and US dollar digital currency market funds year-round, with the first phase trading related Class F shares in Hong Kong dollars and US dollars.This service features real-time indicative net asset value (iNAV) display, price deviation alerts, and a 5-minute cooling-off period. 24/7 trading is only applicable to the secondary market, while subscriptions and redemptions in the primary market must still comply with the fund's sales documents and same-day net asset value calculation arrangements.

According to monitoring by Lookonchain, Abraxas Capital has made a total profit of over 353 million dollars from 2 hedge accounts on Hyperliquid. Currently, the size of its short positions has exceeded 1.29 billion dollars.

According to the Korea Economic Daily, the South Korean presidential office, the Blue House, is inclined to postpone the implementation of the cryptocurrency asset income tax originally scheduled for January 1, 2027. If ultimately approved, this will be the fourth delay of this tax system. However, the Blue House emphasized that discussions are still ongoing and no final decision has been made.Under the current arrangement, South Korea will tax income from the transfer or lending of cryptocurrency assets, with an annual income deduction of 2.5 million Korean won as a basic tax exemption, taxed at a comprehensive rate of 22%. Reasons for the Blue House's consideration of a delay include difficulties in obtaining overseas trading information and a high participation rate among young investors. The South Korean government is concerned that the United States plans to participate in the Cryptocurrency Asset Reporting Framework (CARF) in 2029, and if South Korea imposes taxes in advance, it may be difficult to fully grasp the relevant income of South Korean residents on U.S. exchanges.

According to Onchain Lens monitoring, Arthur Hayes (0x6cd...7e21) received 49.24 million USDC after recently selling tokens, of which Galaxy Digital recently transferred 23.07 million dollars to him, bringing the total amount of USDC received from the trading department and exchanges to 49.24 million dollars.

Galaxy Research published an analysis stating that over the past three weeks, the Bitcoin network has seen approximately 40 inscriptions composed of random letters each day, which appear to be encrypted text but are not actually cryptographic information. The related address had previously written the U.S. Constitution into the Bitcoin network in May.The research found that after analyzing 562 texts, the frequency of the 26 English letters is almost evenly distributed, which is significantly different from the characteristics of normal English and substitution ciphers; metrics such as word length distribution and frequency of repeated words also indicate that these texts are likely generated by a random letter generator.Galaxy Research refers to the operator as the "Babel Scribe," believing it is more like testing a data publishing tool on the Bitcoin mainnet rather than attempting to convey hidden information. The structure of on-chain transactions, the continuous use of change addresses, and the regularity of publication times all exhibit characteristics of automated scripts. Related activities also include testing texts, random words in different languages, binary data, and the subsequent writing of the U.S. Declaration of Independence.It is estimated that the project has transferred approximately 3.33 million satoshis in total, of which about 24% was used to pay miner fees, while the remaining funds are still held in the related address. Researchers suggest that there is no need to interpret these garbled texts as hidden information.

According to Onchain Lens monitoring, Arthur Hayes transferred approximately 8,000 ETH, worth about 18.69 million USD, and subsequently received around 11.73 million USDC from Galaxy Digital and Flowdesk, with approximately 6.96 million USD remaining to be processed.

Strategy, Strive, and other Bitcoin treasury companies support the purchase of 135,979 Bitcoins through preferred stock financing, accounting for over 0.5% of the maximum Bitcoin supply; the related preferred stock market size is approximately $12 billion. Perpetual preferred stock has no fixed maturity date, which can alleviate refinancing pressure and attract income-oriented investors who are unwilling to hold Bitcoin directly; however, an increase in issuance size will also raise dividend expenses.Continuous financing for Bitcoin purchases relies on preferred stock trading at or near par value. If the price falls below par, the attractiveness of new issuances may decline, and the company may also turn to buybacks. CoinShares Research Director James Butterfill stated that Strategy's latest weekly report shows the company spent $193 million to repurchase STRC, while simultaneously buying 267 Bitcoins and increasing the preferred stock buyback authorization limit to $3 billion. Buybacks can reduce future dividend costs but may also compete for funds with Bitcoin purchases.Bitwise Research Director Ryan Rasmussen expects that ETFs will remain a larger source of Bitcoin demand in the long term, while perpetual preferred stock covers different groups of income-oriented investors, providing another source of demand support for the market. Butterfill believes that preferred stock may amplify market cycles: when financing conditions are favorable, it supports Bitcoin purchases, but when market sentiment weakens, this support may diminish.

Abraxas Capital's wallet has achieved a historic high in cumulative profits from Hyperliquid perpetual contracts, reaching 193 million USD. Since the positions have been hedged with spot assets, this profit does not solely come from directional trading.The wallet currently holds approximately 207 million USDC, with a cumulative trading volume of 5.43 billion USD, an open position size of about 7.25 billion USD, and holds significant positions in BTC, ETH, and SOL.

According to a report by Forbes on Friday, the Internal Revenue Service (IRS) is preparing to reform its voluntary disclosure program, planning to reduce penalties and expedite the processing of tax violation cases, including those involving cryptocurrency.Jarod Koopman, head of the IRS Criminal Investigation Division, stated that the agency aims to launch the revised program before December and to close cases within 120 days after taxpayers complete the required submission process. He noted that the new plan will not establish a separate disclosure channel for digital assets but will apply the same voluntary disclosure procedures to other forms of tax noncompliance. Koopman also mentioned that the penalties under the revised program will be significantly lower than current levels, although he did not provide specific amounts. The IRS is considering allowing taxpayers to settle debts through installment payments or settlement offers.According to Forbes, the current program often takes a year or longer to complete and primarily targets taxpayers who intentionally fail to comply with tax laws and may face criminal prosecution, rather than those who make reporting errors due to negligence. Meanwhile, legislative efforts are advancing another voluntary disclosure program aimed at cryptocurrency taxpayers. Section 502 of the Digital Asset Taxation Certainty Act will establish a correction process with clear penalty standards for past violations, and the bill was passed by the House Ways and Means Committee in September.

According to Gate market data, the German DAX30 index closed down 201.19 points on October 23, with a decline of 0.79%, reporting at 25,170.56 points. The UK FTSE 100 index fell by 42.69 points, a decrease of 0.4%, closing at 10,682.34 points. The French CAC40 index dropped 28.44 points, a decline of 0.36%, reporting at 7,782.82 points. The Euro Stoxx 50 index decreased by 21.86 points, down 0.36%, closing at 6,065.15 points.The Spanish IBEX35 index rose by 80.82 points, an increase of 0.43%, reporting at 18,994.32 points. The Italian FTSE MIB index increased by 160.84 points, up 0.33%, reporting at 48,544.5 points.

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