☕️ Democrats Secure US Senate Majority, Shifting Crypto Policy Democrats secured a 51-seat US Senate majority, resetting the crypto legislative agenda while lawmakers globally adjust tax frameworks.
1. Democrats Secure Senate Majority, Shifting Policy Outlook — Democrats secured a 51-seat US Senate majority after Josh Turek won the Iowa race. The CLARITY Act faces a January reset if unapproved before the new Congress, shifting oversight of digital assets to Democratic committee leadership. 2. South Korea Ruling Party Proposes Crypto Tax Delay — The Democratic Party formally proposed deferring a 22% virtual asset income tax scheduled for Jan. 1, 2027. Party chief Kim Min-seok said foundational digital asset regulations must be enacted before $BTC gains are taxed. 3. THORChain Restores Swaps Despite Laundering Warnings — Node operators reactivated $BTC, $ETH, and Tron routes on Nov. 3 following an Oct. 31 outage. Pangolin Intelligence warned that restarting nodes knowingly assists North Korea in laundering billions in stolen assets. 4. First Digital Trust Prepares $250M Public Listing — First Digital Trust signed a merger agreement to list publicly next year at a $250 million valuation. A Binance affiliate holds warrants convertible to a 25% stake, despite $FDUSD issuer revenue dropping from $87 million to $27 million. 5. France Rejects Crypto Exit Taxes as Budget Vote Delays — The National Assembly postponed its 2027 budget revenue vote to debate remaining amendments. Lawmakers rejected proposals that would have applied exit taxes on unrealized digital asset gains for residents moving abroad.
📊 Bitcoin trades at $78,484, up 2.0% over 24 hours, while the total crypto market capitalization gained 1.6% to reach $2.63 trillion.
