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In Brief: Swiss crypto bank SEBA Bank AG undergoes a significant rebranding, now known as AMINA Bank AG. Authorized by FINMA to provide banking services since 2019, the move represents a strategic shift in the company's growth and vision. Franz Bergmueller, CEO of AMINA, highlights the brand's commitment to defining the future of finance with a client-focused approach and a platform ensuring wealth-building under the highest regulatory standards. Source: The Block

November emerges as the cryptocurrency industry's most "damaging" month, witnessing a staggering $363 million lost to crypto thievery, scams, and exploits, reports a blockchain security firm. Exploits alone accounted for $316.4 million, while flash loans inflicted $45.5 million in damage. Various exit scams also contributed, with $1.1 million lost. The alarming trend highlights the escalating challenges and financial impact of cyber threats in the crypto space. Source: Cointelegraph

The IOTA token experiences a 43% surge after the registration of the IOTA Ecosystem DLT Foundation in Abu Dhabi. With a funding commitment of $100 million worth of tokens vested for four years, this foundation claims to be the first of its kind registered under Abu Dhabi's regulatory framework, the DLT Foundations Regulations, established by the Abu Dhabi Global Market (ADGM). This development marks a significant step for IOTA and signals growing support within the Abu Dhabi financial ecosystem. Read more

The Brazil Senate approves new income tax rules, likely requiring Brazilians to pay up to a 15% tax on income derived from cryptocurrencies held on exchanges outside the country. The bill, expected to be approved by President Luiz Inácio Lula da Silva, sets the effective date as January 1, 2024, with the tax applicable to earnings exceeding $1,200. Source: Cryptopolitan

The U.S. Treasury is developing new sanctions tools to combat illicit activities in the cryptocurrency sector, with recent actions against Binance and Sinbad. The initiative aims to prevent crypto use in terrorism and money laundering, prompting a push to update regulations and tax rules for the evolving digital asset ecosystem. Source: Cryptopolitan

Andrea Enria of the European Central Bank (ECB) warns that crypto firms may face banking regulations if providing services resembling those of traditional banks. He emphasizes the need for monitoring and regulation to ensure entities in the crypto world acting as banks are subject to appropriate supervision. Source: Cryptoglobe

The Securities and Exchange Commission (SEC) in the Philippines issues a cautionary advisory against endorsing Binance, citing potential legal consequences under the Securities Regulation Code. Violations could result in a maximum fine of five million pesos, a 21-year imprisonment, or both. In response, reports suggest Binance's website and apps will be inaccessible in the Philippines within the next three months to allow local users a grace period for asset withdrawal. Source: Cryptotimes.io

Jay Clayton, former chairman of the U.S. Securities and Exchange Commission (SEC), shared insights on cryptocurrency regulation at the Council on Foreign Relations. He mentioned that the classification debates over whether a crypto token is a security or a commodity are exaggerated, stating, "Most of those decisions are pretty easy." Clayton's remarks contribute to the ongoing discussions surrounding regulatory clarity in the crypto space. Source: News.Bitcoin.com

In a strategic move Changpeng Zhao (CZ) resigns as the chairman of US Binance amid SEC Proceedings Source : Twitter

The inaugural Digital Acceleration and Transformation Expo (DATE) in India explores the nation's vision to become a global innovation center. Finance Minister emphasizes the expo's importance for Indian youth, offering a platform for information, networking, and talent showcasing. Minister of State highlights discussions on business, social impact, youth empowerment, and real investments. Souce: Beincrypto.com

The European Parliament's Committee on the Internal Market calls for the EU to lead Metaverse projects, aiming to reduce dependence on other countries and support EU businesses. The report emphasizes the EU's role in shaping virtual worlds based on European values. Souce : Bitcoinsistemi.com

The Agencia Tributaria in Spain introduces form 721, requiring residents with crypto holdings above 55,000 USD on non-Spanish platforms to declare their assets. The submission deadline is March 31, 2024, with the period starting on January 1. This aligns with Spain's broader efforts to regulate the domestic crypto space. Source: Bitcoinsistemi.com