UK Proposes DeFi-Friendly Tax Framework to Ease Crypto Lending and Liquidity Pool Activities The United Kingdom is set to introduce a novel taxation approach aimed at simplifying rules for decentralized finance (DeFi) participants. The proposed framework emphasizes deferred capital gains taxes on activities like crypto lending and liquidity pool participation, aligning tax obligations more closely with the actual economic activities rather than instantaneous taxable events. Under the new proposal from HM Revenue and Customs (HMRC), taxable gains or losses will now be calculated when liquidity tokens are redeemed, based on the difference between the tokens received and the initial contribution. This move could significantly reduce upfront tax burdens for DeFi users, allowing them to engage more freely in borrowing and liquidity provision without immediate tax liabilities. Currently, deposits into crypto protocols are taxable events, with capital gains rates in the UK ranging from 18% to...

Introduction The upcoming Fusaka upgrade on Ethereum's mainnet represents a significant step forward in blockchain scalability and infrastructure. Scheduled for December 3, 2025, this release aims to enhance data handling, improve transaction throughput, and further enable Layer 2 solutions, positioning Ethereum for future growth and adoption. Key Takeaways Fusaka introduces PeerDAS, a novel data availability sampling technique to significantly reduce bandwidth and storage requirements for validators. The upgrade advances Ethereum’s capacity with larger block sizes, higher gas limits, and more flexible data parameters, enabling greater throughput for rollups. Developer and user experience improvements include deterministic proposer scheduling and native support for passkeys, streamlining security and usability. Fusaka is a mark point in Ethereum’s roadmap, progressing the Surge scaling phase and setting the stage for future enhancements like the 100,000 TPS target. Tickers Mentione...

Switzerland delays implementation of cross-border crypto information exchange until 2027 Switzerland has announced a delay in the activation of its crypto account data sharing framework with international tax authorities, extending the timeline to 2027. Although the crypto-asset reporting framework (CARF) remains enshrined into law on January 1, 2026, the Swiss government will not begin exchanging crypto account information with partner nations until at least a year later. The delay stems from ongoing deliberations regarding which countries will be included in the data-sharing agreements. The Organisation for Economic Co-operation and Development (OECD) approved CARF in 2022 as part of a global effort to combat tax evasion through increased transparency in crypto holdings. While 75 countries have signed up to implement CARF over the next two to four years—covering jurisdictions such as Switzerland—some nations like Argentina, El Salvador, Vietnam, and India have yet to commit. Switzerl...

Ethereum Shows Signs of Caution Despite Recent Rally Ethereum has experienced a modest 15% increase from its recent low of $2,623, suggesting some recovery in the broader crypto market. However, derivatives data indicates that traders remain cautious, with a lack of bullish leverage signaling subdued confidence among institutional and retail investors alike. Key metrics reveal a cautious stance amid declining network activity and uncertain macroeconomic conditions. Key Takeaways Derivatives metrics point to diminishing bullish sentiment as Ethereum’s Total Value Locked (TVL) declines and network fees fall, highlighting ongoing risk aversion. US economic indicators, including rising layoffs and weakening seasonal hiring, add to trader hesitancy, awaiting fresh liquidity before a stronger upside move in ETH. The dwindling demand for leveraged bullish positions is evident from the perpetual futures funding rates, which have remained subdued since October’s flash crash. Market confidence i...

Bhutan Expands Its Crypto Engagement with Ethereum Staking and Digital ID Migration The Royal Government of Bhutan has recently increased its cryptocurrency activities by staking approximately 320 Ethereum tokens worth around $970,000 through the staking platform Figment. This move signals a strategic expansion of the nation's on-chain footprint, emphasizing its commitment to integrating digital assets and blockchain technology into official operations. Figment specializes in providing staking services for institutional investors, enabling large-scale holders to secure proof-of-stake networks and generate staking rewards. Bhutan’s stake in Ethereum highlights its focus on leveraging blockchain for governance and digital identity management. Earlier this year, Bhutan commenced migrating its self-sovereign digital ID system—originally hosted on Polygon—to Ethereum, facilitating seamless identity verification and access to government services. The full migration is anticipated to be c...

Europe's Largest Asset Manager Embraces Tokenized Money Market Funds Amundi, Europe's leading asset manager, has launched its first tokenized share class for a euro-denominated money market fund, marking a significant milestone in institutional adoption of blockchain technology within traditional finance. The innovative fund now offers investors a choice between the classical structure and its blockchain-based version, with the initial transaction processed on the Ethereum network on November 4. The rollout was executed in partnership with CACEIS, a prominent European asset-servicing firm that provided the necessary infrastructure including tokenization platforms, investor wallets, and a digital order system that facilitates subscriptions and redemptions efficiently. This collaboration aims to streamline fund operations, broaden investor access, and enable around-the-clock trading—addressing long-standing liquidity and accessibility limitations in traditional fund markets. Acco...

Bitcoin Clashes with Thin Demand Despite Recent Surge Above $90,000 Bitcoin recently retook the $90,000 mark, but underlying on-chain data suggests that the rally may lack sustainable support. Despite a heavy accumulation around the $84,000 cost basis, market participation beneath this level remains weak, raising concerns about the sustainability of the recent price movement. Key Takeaways Over 400,000 BTC are entrenched in the $84,000 cost-basis zone, forming a significant on-chain support level. Spot demand above this firm footing remains shallow, with order books thin and prices moving through low-engagement areas. Liquidity signals mirror early 2022 weakness, with recent flows dominated by losses rather than new buying activity. Recent futures activity has primarily involved shorts covering rather than new longs entering the market. Market Support Faces Challenges Without Increased Demand Bitcoin’s recent rally was driven largely by short covering within a dense cost-basis cluster ...