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A historic moment in Bitcoin's 14-year history unfolded as a sender incurred a US$3.1 million transaction fee for a bitcoin transfer. The transaction, mined in block 818087 by Bitcoin miner Antpool, marked the largest fee ever paid. The sender's wallet, created minutes before the transfer, sent 139.42 BTC, with the recipient receiving only 55.78 BTC. Notably, Antpool, owned by Bitmain, has not issued a statement regarding the apparent overpaid fee, unlike a similar incident in September involving F2Pool's return of a mistakenly sent fee. (Source: Coin Desk)

In separate news, major cryptocurrency exchanges Bitfinex and Tether have shifted their stance on a Freedom of Information Law (FOIL) request. The firms, no longer opposing the request, expressed their commitment to transparent practices. However, they emphasized the need for a responsible document review before any information is publicly disclosed. The FOIL request originated from a February 2021 agreement between Bitfinex, Tether, and New York regulators over allegations of fund commingling. The companies paid fines and agreed to submit quarterly attestation reports as part of the settlement. (Source: Coin Telegraph)

The High Court of Podgorica has paved the way for the extradition of Kwon, with the legal prerequisites determined and officially announced on the court's website. Approval for Kwon's extradition to either the United States or South Korea has been granted, with the ultimate decision resting in the hands of Montenegro's minister of justice, according to an official statement released on November 24.Following a four-month jail sentence handed down by a Montenegro court in June 2023, Kwon faced charges related to using a forged Costa Rican passport in an attempt to flee to Dubai via a private jet. The recent decision by the High Court sets the stage for his potential extradition, leaving the final determination in the hands of Montenegro's minister of justice. (Source: Coin Telegraph)

The Bank of Korea (BOK) — South Korea’s central bank — As part of the innovative CBDC pilot, the selected participants will be granted the unique opportunity to utilize deposit tokens for the purchase of goods. The overarching objective of the pilot program is to rigorously assess the feasibility and effectiveness of the issuance and distribution of the CBDC. The Bank of Korea is strategically leveraging this real-world testing environment to gain invaluable insights into the practical applications and user dynamics of the digital currency. (Source: 2024)

Belgium intends to expedite the advancement of a European blockchain infrastructure during its presidency of the Council of the European Union in early 2024, focusing on utilising such technology for the the secure storage of official documents such as driving licenses and property titles. (Source: Crypto News)

Coinbase, a cryptocurrency exchange based in the United States, has reiterated its request to the SEC for a response to its petition regarding the establishment of cryptocurrency rules. In support of its argument, Coinbase cites the recent enforcement action taken by the SEC against Kraken. (Source: Coin Telegraph)

The new regulation mandates crypto companies submit their coin listing and delisting policies for NYDFS approval. Company policies will be measured against more stringent risk assessment standards set forth by the NYDFS to protect investors. Technological, operational, cybersecurity, market, liquidity and illicit activity risks of the tokens are among the factors to be considered by the NYDFS. The incoming changes apply to all digital currency business entities licensed under the New York Codes, Rules and Regulation or limited purpose trust companies under the state’s banking law. (Source: Cointelegraph)

The CEO of Binance, Changpeng Zhao, has resigned and pleaded guilty to a US criminal charge for not adequately preventing money laundering, in which he may face imprisonment of approximately 1 to 10 years. Binance, the largest cryptocurrency exchange, has also pleaded guilty to similar charges and agreed to pay over US$4.3 billion in fines and fees. (Source: CBS news)

In a press release earlier this year, Javier Milei stated, "we have to understand that the central bank is a scam." He further expressed, "bitcoin is representing the return of money to its original creator, the private sector." However, he has not taken the step of suggesting the adoption of bitcoin as a legal form of currency. Instead, he advocates for the abolition of the country's central bank and the adoption of a dollarized economy in Argentina, which has been severely affected by inflation, reaching a staggering 142% in October. Source: https://www.coindesk.com

Canada's Office of the Superintendent of Financial Institutions (OSFI) is consulting on crypto-asset disclosure requirements for federally regulated financial institutions. The consultation aligns with a similar inquiry by the Bank for International Settlements (BIS) and fulfills the 2023 federal budget's commitment to develop guidelines for banks to safeguard Canadians' savings and the financial sector's security. Source: https://cointelegraph.com

The Blockchain Association has expressed its support for six plaintiffs who are suing the United States Treasury Office of Foreign Assets Control (OFAC) regarding its sanctions on Tornado Cash, a crypto mixer. In a brief submitted to a U.S. appellate court on 20 November 2023, the advocacy group argued that OFAC's decision to impose sanctions on the privacy protocol was unlawful and went beyond its authorised powers. Source: https://cointelegraph.com

The International Organization of Securities Commissions (IOSCO) has issued a comprehensive report with policy recommendations for crypto and digital asset markets. The report aims to establish a coordinated global regulatory framework to tackle the significant risks associated with centralised crypto asset service providers (CASPs) and ensure investor protection and market integrity. These suggestions are vital in shaping a unified approach to regulating the CDA markets worldwide. Source: https://cointelegraph.com