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Ripple Labs' Chief Legal Officer, Stuart Alderoty, hints at a potential legal victory against the SEC, suggesting a move to the U.S. Supreme Court. Citing the Supreme Court's historical tendency to rule against the SEC, Alderoty's signal follows Ripple's recent partial success in a ruling by Federal Judge Analisa Torres related to certain XRP sales. The development adds an optimistic dimension to Ripple's ongoing legal battle with the SEC. Source: Cryptopolitan.com

Microsoft announces a significant investment in the United Kingdom, focusing on major artificial intelligence (AI) initiatives encompassing infrastructure, talent development, and safety measures. The investment aims to propel the UK into a leadership position in AI innovation while fostering job creation, service improvement, and public security enhancement. Researchers from top UK universities, including Cambridge, Oxford, Imperial College, UCL, Bath, and Nottingham, will collaborate with Microsoft on these transformative projects. Source: Beincrypto.com

The United States Securities and Exchange Commission (SEC) initiates the process for gathering public comments on Fidelity's application for a spot Ethereum exchange-traded fund (ETF). The statement invites interested parties to provide feedback on the proposed rule change, signaling a crucial step in the regulatory evaluation of Fidelity's Ethereum ETF application. Source: Beincrypto.com

Cristiano Ronaldo is embroiled in a $1 billion lawsuit, accused of promoting Binance's unregistered securities and illegal operations in the United States. The lawsuit alleges Ronaldo's celebrity endorsement contributed to driving traffic and investors to the platform. With recent legal standards in mind, the plaintiffs argue that promoters like Ronaldo can be held liable for mass solicitations of cryptocurrency. To potentially avoid a public trial, Ronaldo may settle the case for $750,000. Source: Bitcoinist.com

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