Hong Kong plans to exempt private equity funds, hedge funds and investment vehicles of the super-rich from paying taxes on gains from cryptocurrencies, private credit investments and other assets. The Hong Kong government said in a 20-page proposal, which has not yet been released, that tax is "one of the main considerations" for asset managers when deciding where to do business and that it wants to create a "favorable environment" for them.

Sandy Peng, co-founder of Scroll, wrote on the X platform: "The interactions and hype from some founders before the launch of the project were so fierce that I felt it was necessary to clarify some things. 1. We admit that we didn't do well enough in some aspects, such as failing to better communicate the airdrop design principles. Some people in the community feel hurt, and we are addressing this issue through Session 2, aiming to correct the mistakes. 2. It is undeniable that we could have done better in some aspects. We are learning and improving. 3. Some teams would be better off spending less time fooling the community and more time creating real value; protocols can (and should) be both interesting and practical; we want to do both. 4. About team wallets: We have discussed this issue before, but here is the summary: team funds are used to launch core DeFi liquidity on Scroll; the tokens in these wallets are not claimed and have a negligible impact (about 0.00001% impact on incentives); for clarity, it would be better to remove these tokens. 5. About letting team members buy tokens at the valuation of the previous round of financing: Anyone who has operated a protocol knows that this is impossible. 6. We are making structural adjustments to match the next stage of development, and some team members are leaving."

On Wednesday, the upper house of Russia's parliament approved a government-sponsored bill outlining a tax framework for digital currencies. The bill received preliminary approval in the State Duma (lower house) the day before and was finally passed in a plenary session on Wednesday. The new law classifies digital currencies, including those used as payment instruments under an experimental legal framework, as property under the Tax Code of the Russian Federation. This classification exempts digital currency mining and sales transactions from value-added tax (VAT), reducing the financial burden on players in the field. In addition, services provided by authorized organizations that facilitate transactions under these experimental frameworks will also be tax-exempt.

Sushi announced the launch of Dojo Agent and Tweet Tokens. Its agent tool allows users to tokenize their favorite tweets or create their own MEME coins directly from Twitter. It is completely free to publish tokens from Twitter. Please note that each user has a 5-minute interval between token creation to avoid fraud.

Telegram founder Pavel Durov said on his personal TG channel: "Major Mini Program is one of my favorite success stories of Telegram ecosystem. Launched by 27-year-old entrepreneur Roxman, Major has gained more than $10 million in revenue and 70 million users in just 5 months. I like Major because it can quickly adopt the new possibilities of the mini program platform and add features that feel naturally belong to Telegram. I also like Roxman, and I have been following him before he launched Fabrika and Major. Roxman generously donated 1% of the MAJOR tokens to me, and I will not sell these tokens in the next 10 years. I heard that the Major team is preparing many innovations (such as username NFT leasing and digital ID). Tomorrow is a big day for them. The MAJOR token will be listed on six major exchanges. I wish them good luck."

We believe that the market has largely re-evaluated SOL's valuation relative to ETH, and the current fundamentals are roughly consistent with the relative valuation.

Ken Sim, the mayor of Vancouver, Canada, announced that the city plans to include Bitcoin in its balance sheet as part of its investment diversification efforts. At the Vancouver City Council meeting on November 26, Sim submitted a notice of motion that he intends to introduce on December 11, titled "Maintaining the city's purchasing power through diversification of financial resources: Building a Bitcoin-friendly city." As of November 27, the motion does not appear to have been published on the city government's website.

Rushi Manche, co-founder of Movement Labs, publicly accused the Scroll team of many problems on the X platform, including: 1. After years of community involvement, they launched a predatory incentive plan that ultimately passed the burden on to ordinary investors. 2. The team had been selling secondary market share for several years before going online. 3. The rest of the team was forced to buy at a valuation of $1.8 billion, while senior leaders were selling at the same time. 4. The Scroll team directly distributed the airdrop to their own wallets and then cashed out. 5. The most predatory token economic model was designed with the goal of harming every community member.

President-elect Donald Trump's transition team has interviewed Paul Atkins, a senior financial regulator and a think tank behind the conservative financial community, as a candidate for the chairman of the U.S. Securities and Exchange Commission, according to people familiar with the matter. Atkins is one of the strongest contenders to succeed outgoing SEC Chairman Gary Gensler. Trump is expected to make a choice in the next few days, but has not yet made a decision.

On November 23rd local time, President-elect Trump announced the nomination of Brooke Rollins as Secretary of Agriculture. So far, all the cabinet ministers of Trump's new administration have been confirmed. In addition, Trump has nominated several high-level officials in the past few weeks. Judging from the list of the new government, in addition to Musk, Howard Lutnick and other well-known names in the crypto market, many cabinet officials are firm supporters of cryptocurrencies and have publicly disclosed their cryptocurrency holdings, including the nominated vice president, secretary of the treasury, secretary of commerce, secretary of health and human services, director of national intelligence, etc.

In the field of cryptocurrency investment, crypto investment sharing communities have become one of the important channels for investors to obtain information. They often follow group owners (such as KOLs) through social media and join the Web3 investment groups they create to get the latest cryptocurrency trends and investment analysis in a timely manner. However, many of these communities have set a high entry fee. Therefore, a new cryptocurrency information sharing model, the "paid information transfer group", came into being - with only a very low entry fee, users can join the group to obtain high-quality crypto investment information transferred by the group owner. It seems that there is nothing wrong with the operation of transferring information. But in fact, as a group owner, there are many legal compliance matters that need to be paid attention to.

Coinbase has been authorized by the New York State Department of Financial Services (NYDFS) to engage in virtual currency business activities.

Perhaps influenced by this news, the U.S. stock market (SOS) surged 47.19% at the opening.