11.27 AI Daily Crypto Assets Industry Regulatory Dynamics: Countries Worldwide Accelerate Layout, Switzerland Unexpectedly Pauses

1. Headline

1. Ethereum founder Vitalik Buterin transfers a large amount to the privacy protocol Railgun.

Ethereum founder Vitalik Buterin has recently made a large transfer to the privacy protocol Railgun. According to on-chain data, Buterin's wallet address vitalik.eth transferred 1009 ETH, of which 1006 ETH was sent to Railgun. This is not the first time Buterin has made a large transfer to Railgun; he has previously transferred funds into this privacy protocol multiple times, some of which were used for donations to charitable organizations, and some for purchasing Ethereum ecosystem tokens.

Railgun is a decentralized privacy protocol that allows users to make anonymous transfers on the Ethereum network. It hides the source and destination of transactions by dispersing them across multiple wallet addresses. Privacy protection has always been a hot topic in the cryptocurrency field, and the rise of privacy protocols like Railgun reflects users' increasing emphasis on financial privacy.

Industry insiders analyze that Buterin's extensive use of Railgun may be due to various considerations. On one hand, as the founder of Ethereum, he needs to protect his financial privacy to avoid becoming a target for hackers. On the other hand, he may hope to support the development of privacy protection technologies through practice, promoting the cryptocurrency ecosystem towards a more decentralized and privacy-oriented direction.

2. The Bitcoin holding cost line has received important support, analysts warn of a bull-bear turning point.

Famous on-chain analyst Murphy recently released a report, pointing out that the support of the Bitcoin price at the 65% address holding cost line is crucial. The report uses the CBD quantitative model to observe the distribution structure and migration direction of market chips by dividing the buying costs of addresses. Among them, the purple line represents the cost basis of the 65th percentile, meaning that 65% of Bitcoin address holding costs are below this value.

Analysts indicate that historically, when the price of Bitcoin falls below the 65% cost basis line, it often accelerates its decline, as this triggers more investors to sell, creating a negative feedback loop. Conversely, if the price receives strong support at this level, it may signal the onset of a bull market. Currently, Bitcoin is at a critical turning point, and its future trend will depend on whether it can effectively stabilize above the 65% cost basis line.

Since Bitcoin hit a historical high of $69,000 in November 2021, it has been in a downtrend. This year, affected by the macro environment, Bitcoin once fell to around $15,500. However, recently Bitcoin has rebounded and is currently hovering above $16,500. Analysts point out that whether Bitcoin can effectively stabilize above the 65% cost line will determine whether the decline continues or the upward trend resumes.

3. The crypto gaming sector is in trouble, and the industry is calling for innovative breakthroughs.

Crypto games were once seen as an important way for blockchain technology to take root in the mass market, but recently this sector has fallen into an unprecedented dilemma. A large number of game projects have quickly plummeted after their tokens went live, the number of active users has sharply decreased, and development teams have faced funding chain breakdowns. There are many voices of doubt within and outside the industry, believing that crypto games are nothing more than a fleeting bubble.

Looking back over the past two years, crypto games have experienced a crazy wave of development. Top projects represented by Axie Infinity once sparked a global craze for play-to-earn. However, with the decline in token prices and the failure of incentive mechanisms, users quickly left. Data shows that 90% of crypto game projects experience a price drop after their tokens are launched, and the user retention rate is only 20%.

Cryptocurrency games are in trouble, and the root cause is the lack of true gameplay. Most projects are overly focused on short-term profits, emphasizing token issuance and airdrops, while neglecting the entertainment experience of the game itself. In addition, the quality of the games varies greatly, lacking lasting content updates, making it difficult to retain users.

Industry insiders call for crypto games to break through the current predicament and truly integrate blockchain technology with high-quality game content in order to achieve long-term sustainable development. More excellent game development teams and innovative business models are needed to provide users with an immersive gaming experience. Only in this way can crypto games truly reach the mass market and become a killer application of blockchain technology.

4. European and American project teams are sweeping the Asian market, changing the landscape of the crypto industry.

At this year's Token 2049 conference, a wave from Europe and America is sweeping through the Asian cryptocurrency market. In the past, Asian investors were often seen as “money bags,” who could receive funding support at the snap of a finger from European and American project teams. But this time, the European and American camp not only organized a grand roadshow, but is also eager to display their skills in Asia.

It has been observed that the European and American project parties truly pulled out all the stops at this conference. They not only held multiple offline events but also donned extravagant outfits to attract business both inside and outside the venue. Some project parties even directly sold their products within the venue, exhibiting an unprecedented level of enthusiasm and proactivity.

Industry insiders analyze that the main reasons for the efforts of European and American project parties this time are threefold: first, the huge potential of the Asian market; second, the fierce competition among local projects forces them to go out; third, seeking new sources of funding to maintain the sustainable development of the project.

In fact, in recent years, the cryptocurrency market in Asia has indeed been booming. Asian countries and regions represented by Singapore, Hong Kong, and South Korea are accelerating the construction of a regulatory environment and infrastructure conducive to the development of cryptocurrencies. At the same time, the number and strength of Asian investors are also continuously growing.

Cryptocurrencies have no borders, but due to cultural and policy differences, there are still certain divisions in the global market. European and American project teams are creating a frenzy in the Asian market, which will further intensify the reshaping of the global cryptocurrency landscape. Asia is expected to become a new highland for the future development of cryptocurrencies.

5. New Trends in Cryptocurrency Regulation: Many Countries Introduce Favorable Policies

Recently, multiple countries and regions around the world have successively introduced favorable policies for the development of cryptocurrencies, sparking heated discussions in the market. From easing regulations and improving legal frameworks to launching digital currencies, various countries are beginning to lay out their plans in the field of cryptocurrencies.

The Vietnamese government has signed a memorandum of cooperation with the cryptocurrency association, covering multiple aspects such as attracting investors, developing a legal framework for digital assets and blockchain, and establishing a regulatory sandbox mechanism, aiming to create an environment conducive to the development of cryptocurrencies. As the fifth largest cryptocurrency trading market in the world, Vietnam's move is seen as a positive signal to global investors.

Spain plans to impose a higher tax rate on cryptocurrency gains. According to the new proposal, cryptocurrency gains will be taxed based on a “comprehensive tax base” instead of the current “savings tax base,” with a maximum tax rate of 47%. Analysts believe that this move aims to strengthen regulation and curb speculative trading in cryptocurrencies, but it also reflects that the Spanish government is beginning to recognize the legitimate status of cryptocurrencies.

Another noteworthy trend is that Ripple plans to launch the XRPL EVM sidechain in 2025 to enhance the programmability of the XRPL ecosystem, including support for smart contracts and other features. This is seen as an important step for Ripple to further embrace the cryptocurrency ecosystem.

Overall, the new trends in cryptocurrency regulation in various countries reflect a tendency: while exercising prudent regulation, they are also creating a favorable environment for the development of cryptocurrencies. This will be beneficial for the long-term healthy development of the cryptocurrency industry, attracting more funds and talent to join.

2. Industry News

1. Bitcoin returns above $90,000 as major cryptocurrencies rebound.

Bitcoin broke through the $90,000 mark on November 27, rising above $90,000 again with a daily increase of over 3%. At the same time, Ethereum also returned above $3,000, with mainstream cryptocurrencies rebounding across the board.

Analysts believe that the recent rise in Bitcoin is mainly driven by positive macroeconomic data and expectations that the Federal Reserve may shift towards an easing policy. Inflation data continues to rise, the labor market is weak, and the comments from Federal Reserve officials are slightly leaning towards easing. The market expects that the Federal Reserve will pause interest rate hikes in December and may even start a rate-cutting cycle, which will alleviate liquidity pressure and bring benefits to risk assets.

The rebound of Bitcoin has also improved the overall sentiment in the cryptocurrency market. The Crypto Fear and Greed Index has risen to 22, indicating that the market is gradually emerging from an “extreme fear” state. However, analysts warn that Bitcoin may face selling pressure related to ETFs around the $95,000 mark, while the $80,000 to $82,000 range remains a key support level.

Overall, Bitcoin is expected to maintain a rebound in the short term, but investors should be wary of potential risk factors. The continued improvement in market sentiment, the clarification of regulatory policies, and the sustained inflow of institutional funds will be key to whether Bitcoin can continue its upward trend.

2. Australia strengthens regulation and legislates for cryptocurrency custody services.

Australia is strengthening the regulation of cryptocurrency exchanges and custodial service providers through legislation. The new bill brings cryptocurrency exchanges and custodial services under the regulatory scope of financial services law, with the Australian Securities and Investments Commission ( ASIC ) serving as the primary regulatory authority.

The new framework introduces two new categories of financial products: digital asset platforms and tokenized custody platforms. Operators must hold an Australian Financial Services License and comply with ASIC's standards for asset safety, trade execution, and the custody and settlement of client instructions.

The bill stipulates exemption clauses: low-risk platforms holding assets of less than $5,000 per client and annual trading volumes below $10 million can be exempted from full licensing requirements. The government stated that the bill could release $24 billion in annual productivity gains, and non-compliant companies will face fines of millions of dollars.

Analysts believe that this initiative aims to strengthen investor protection and enhance the transparency and compliance of the cryptocurrency market. As regulations become increasingly stringent, the cryptocurrency industry is evolving towards a more standardized and mature direction. However, this may also increase compliance costs for operators and put certain pressure on the survival of smaller platforms.

3. The Lido proposal aims to expand its business to a broader range of DeFi products.

The Lido community has released the “GOOSE-3” proposal, aiming to expand its business from a single staking product to a broader DeFi product portfolio. The proposal outlines four main goals for Lido in 2026:

1. Expand the staking ecosystem, transforming staking into a modular infrastructure aimed at integrators, node operators, custodians, and large distributors.
2. Introduce the ValMart validator market, dynamically allocate staking according to performance, cost, and decentralization, enhance DAO revenue and strengthen risk management.
3. Expand Lido Earn to cover DeFi advanced users, re-stakers, stablecoin holders, passive income earners, and on-chain treasury managers.
4. Vertical expansion and actual business applications proceed simultaneously, small-scale trials + single large bets, connecting on-chain and off-chain economic activities.

Analysts say that Lido's strategic transformation aims to seize the rapidly developing opportunities in DeFi and provide users with more diversified products and services. However, it also faces intense market competition and needs to continuously enhance product innovation, risk control, and user experience.

As one of the leading DeFi protocols, Lido's future development is worth the market's continued attention. If it can successfully achieve diversification, it will help enhance its influence in the DeFi ecosystem and bring more profit opportunities for investors.

3. Project News

1. The Lido community proposal aims to expand its business to a broader range of DeFi product offerings.

Lido is a leading decentralized staking service provider in the Ethereum ecosystem. The protocol allows users to stake ETH and receive corresponding stETH tokens as proof. The Lido community recently released the “GOOSE-3” proposal, which aims to expand the business from a single staking product to a broader DeFi product portfolio.

For the 2026 cycle, the proposal sets four main goals: to expand the staking ecosystem, ensure protocol resilience, broaden new revenue streams for the DAO — Lido Earn, and explore vertical expansion and real-world business applications. The proposal also outlines a three-year vision, including making staking a mature and profitable product line, strengthening sustainability through vertical and horizontal expansion, and becoming the main entry point for real capital into DeFi.

Lido's expansion plan reflects its confidence in the development of the DeFi ecosystem. As a leading staking service provider, Lido will play an important role in DeFi product innovation leveraging its technological strength and community influence. Analysts believe that Lido's diversified development will help attract more funds into the DeFi space, driving the maturity and prosperity of the entire ecosystem.

Industry insiders have welcomed Lido's proposal. Delphi Digital analysts state that Lido's vision aligns with the major trends in DeFi development and is expected to serve as a bridge between traditional finance and the DeFi world. However, some individuals are concerned that while Lido is rapidly expanding, it needs to pay attention to risk management to avoid excessive centralization.

2. Pundi AI partners with Alfa Protocol to empower the entire chain gaming with verifiable data.

Pundi AI is a company focused on verifiable data and decentralized data trading. Recently, Pundi AI announced a partnership with Alfa Protocol, which is a full-chain reward pool ecosystem based on the BNB Chain.

This collaboration will bring Pundi AI's verifiable data into the Alfa Protocol, supporting functionalities such as game logic, probabilistic modeling, and user behavior analysis, helping to create a more transparent and intelligent game development model. Through Pundi AI's Data Pump and data marketplace, user-contributed data can be transformed into datasets usable by AI, providing developers with reliable tools to optimize game balance and enhance player experience.

Both parties are committed to building an open and transparent digital ecosystem, Pundi AI focuses on trustworthy data, while Alfa Protocol concentrates on reliable gameplay. This collaboration is expected to drive innovative development in the blockchain gaming industry, providing players with a fairer and more transparent gaming experience.

Industry analysts welcome this cooperation. Dapp Radar analysts stated that the application prospects of verifiable data in blockchain games are broad, helping to address industry pain points and improve user experience. However, some analysts also remind that data privacy and security need to be taken seriously, and project parties must take effective measures to protect user rights.

3. Cathie Wood: The AI boom is not a bubble, liquidity tightening will reverse.

Cathie Wood, the founder of ARK Invest, recently stated that the liquidity squeeze impacting the artificial intelligence and cryptocurrency sectors is expected to reverse in the coming weeks, and the market seems to agree with this view. She believes that artificial intelligence is not in a bubble period but rather represents a profound technological transformation.

Wood pointed out that breakthroughs in artificial intelligence technology will significantly enhance productivity, thereby stimulating economic growth and corporate profits, which will be favorable for tech stocks and cryptocurrencies. She stated that the AI boom is akin to the arrival of the internet era and will fundamentally change the way humans live and work.

Wood's optimistic remarks have been recognized by some investors and analysts. ARK fund manager Dennis Poupeau stated that artificial intelligence will become the next major investment theme, and related companies and crypto projects will gain significant opportunities. However, some analysts remain cautious about Wood's judgment, believing that there are still uncertainties in the development of artificial intelligence and that the investment risks brought by excessive hype should be treated with caution.

Overall, the development prospects of artificial intelligence are broad, but the specific impacts need to be tested over time. Investors need to remain rational, closely monitor technological advancements and the implementation of applications, and cautiously seize investment opportunities.

4. Economic Dynamics

1. Federal Reserve Beige Book: Economic conditions vary, consumer market “K-shaped divergence” intensifies

The latest Beige Book survey released by the Federal Reserve shows that overall economic activity in the United States has remained stable in recent weeks, but consumer spending has shown significant divergence. Spending by high-income groups remains strong, while expenditure by the middle and lower-income tiers has further declined. This reflects the ongoing high inflation that is exacerbating the “K-shaped divergence” in the consumer market.

The job market has slightly weakened, and the price level has risen moderately. The Federal Reserve stated in the report: “The overall economic outlook remains stable, with some surveyed companies warning of the risk of an economic slowdown in the coming months, while the manufacturing sector shows a cautiously optimistic sentiment.”

The timing of the release of this brown paper is quite sensitive. Due to the longest government shutdown in U.S. history, which lasted until November 12, the collection of key economic data was interrupted, and field surveys reflecting the actual conditions of businesses and consumers have received significant attention in recent months. Federal Reserve officials will be unable to access complete labor market and inflation data for October and November before the December policy meeting.

Goldman Sachs chief economist Jan Hatzius stated that the Beige Book shows economic growth is slowing, but the job market remains tight, which may drive the Federal Reserve to continue raising interest rates to curb inflation. However, he believes that the Federal Reserve will ultimately end the interest rate hike cycle in early 2024.

2. JPMorgan expects the Federal Reserve to cut interest rates in December, reversing its prediction from a week ago.

JPMorgan economists have changed their forecast, believing that the Federal Reserve will start cutting interest rates in December, reversing the bank's judgment a week ago that policymakers would delay rate cuts until January next year.

The research team led by Michael Feroli, the chief economist of the U.S. branch, stated on Wednesday that several heavyweight officials from the Federal Reserve, particularly New York Fed President John Williams, expressed support for recent statements regarding interest rate cuts, prompting them to reassess the situation. Currently, JPMorgan expects the Federal Reserve to make two cuts of 25 basis points each in December and January.

Following the delayed release of the September employment report last week, JPMorgan had originally predicted that interest rates would remain unchanged in December. However, inflation remains stubbornly high, and labor market data continues to show weakness, including rising unemployment rates. Federal Reserve officials' statements have slightly tilted the balance toward a more accommodative stance.

Given that there are fewer important economic data releases this week, market attention will turn to the unemployment claims and the ADP employment report set to be released later this week. The widening credit default swaps ( CDS ) and technology credit spreads related to AI indicate that investors are reassessing the driving factors that dominate the macro market.

( 3. S&P has downgraded the USDT dollar peg rating to the lowest score, Tether: misleading.

S&P Global Ratings has downgraded the rating of Tether's USDT stablecoin to the lowest level, questioning the token's ability to maintain its peg to the US dollar. S&P Global noted that Bitcoin accounts for 5.6% of the total circulation of USDT, exceeding the 3.9% over-collateralization rate, and a decline in Bitcoin prices could reduce the collateral coverage.

Tether classified the report as misleading, stating that it failed to capture the nature, scale, and macroeconomic significance of digital native currencies. Tether's Chief Operating Officer Ardoino stated on Twitter that the report “ignores the importance of Tether as a digital dollar and its role in global payments and settlements.”

S&P previously downgraded the rating of USDT from “AA-” to “BBB”. This further downgrade reflects the rating agency's increasing concerns about stablecoins. As a bridge between cryptocurrency and traditional finance, the development of stablecoins is under close scrutiny by regulators and rating agencies.

Goldman Sachs analysts pointed out in their latest report that the regulation of stablecoins will be a focus in 2023. They expect regulators to require stablecoin issuers to disclose the composition of their reserves and may impose audits and capital requirements on them.

) 4. Bank of America: US GDP growth of 2.4% in 2026, can Bitcoin escape the winter?

Bank of America predicts that the U.S. GDP growth rate will reach 2.4% in 2026, with favorable factors including the Federal Reserve's interest rate cuts in the second half of the year, more favorable trade policies, and ongoing investments in artificial intelligence. For Bitcoin, the key is not the U.S. economic growth rate itself, but the level of real returns adjusted for inflation.

The analysts in this line believe that if real yields begin to decline in the second half of 2026, it will create opportunities for risk assets such as Bitcoin. They expect the price of Bitcoin to rise to $38,000 by the end of 2026.

However, Goldman Sachs takes a relatively cautious stance. The bank's latest report points out that despite the improving outlook for the U.S. economy, factors such as persistently high inflation and increasing geopolitical risks may limit the upside potential for risk assets.

Goldman Sachs analysts indicate that Bitcoin, as an emerging asset class, often has its price closely linked to macroeconomic factors and risk appetite. In the current environment, the investment value of Bitcoin primarily stems from its role as a diversification tool and a hedge against inflation.

Citigroup is more optimistic about the prospects of Bitcoin. Analysts at the bank expect Bitcoin to break the $100,000 barrier by 2027. They believe that the demand for Bitcoin from institutional investors is increasing, and the clarification of cryptocurrency regulations will also bring certainty to the industry.

5. Stress Test for Strategy Companies: A Bitcoin crash to $25,000 will not trigger forced liquidation.

Cryptocurrency company MicroStrategy###, abbreviated as “Strategy”###, released an updated analysis confirming that its Bitcoin-supported capital structure will remain intact even in extreme circumstances, such as when BTC drops to $25,000—which is less than one-third of its current price and far below the company's average acquisition cost of approximately $74,000.

The company stated that even if the price of Bitcoin plummets to $25,000, it will not trigger any forced liquidation clauses on loans. This analysis aims to alleviate investors' concerns about the debt risks of the strategy company.

The strategy company is one of the largest publicly listed holders of Bitcoin, holding approximately 129,000 Bitcoins. As Bitcoin's price plummeted significantly in 2022, the company's Bitcoin investment has incurred losses in the billions.

Analysts point out that the debt risk of strategy companies mainly comes from the convertible bonds they issue. If Bitcoin prices remain sluggish, it may lead to a downgrade in the credit rating of these bonds, thereby increasing the company's financing costs.

However, the CEO of the strategy company, Michael Saylor(, remains optimistic about the prospects of Bitcoin. He believes that the volatility of Bitcoin is precisely what gives it vitality, and its value will continue to rise in the long term.

5. Regulation & Policy

) 1. Australia introduces a new bill to regulate cryptocurrency platforms, with violators facing fines of millions of dollars.

The Australian government is taking action to strengthen regulation of cryptocurrency exchanges and custodial service providers through new legislation. The “Companies Act Amendment (Digital Assets Framework) Bill 2025” was submitted to Parliament on November 26, aiming to establish the country's first comprehensive regulatory framework for businesses holding digital assets on behalf of clients.

The bill introduces two new categories of financial products under the Corporations Act: digital asset platforms and tokenized custody platforms. Digital asset platforms cover facilities where operators hold clients' crypto assets and provide transaction functions such as transfers, buying, selling, or staking. Tokenized custody platforms handle real-world assets such as bonds, real estate, and commodities. These platforms must obtain a financial services license from the Australian Securities and Investments Commission (ASIC) and adhere to their custody and settlement standards regarding asset security, trade execution, and handling client instructions.

The bill stipulates exemptions: low-risk platforms with assets held by each customer under $5,000 and annual trading volumes below $10 million can be exempted from full licensing requirements. The government stated that this move is expected to unleash $24 billion in productivity growth annually, while imposing millions of dollars in fines on companies that fail to protect customer assets.

Market participants generally believe that this measure will bring higher compliance standards and greater regulatory certainty to Australia's cryptocurrency industry. However, some businesses may face higher operational costs and compliance burdens. Investors welcome the expectation that strengthened regulation will enhance industry transparency and trust, but they also worry that excessive regulation may stifle innovation.

Exchange CEO Alex Harper stated: “We support reasonable regulation, as it helps improve transparency and accountability in the industry. However, we also hope that regulators work closely with the industry to ensure that new rules are practical and do not hinder innovation.”

( 2. The U.S. Securities and Exchange Commission revises its 2025 plan to simplify crypto regulation with clearer rules.

The revised 2025 plan by the U.S. Securities and Exchange Commission (SEC) proposes clearer rules, safer market practices, and stronger regulation, aimed at building a more flexible and structured framework to accommodate the development of digital assets.

The core content of the plan includes: the introduction of exemptions, safe harbor provisions, exclusive transfer agent rules for distributed ledger technology (DLT), and amendments to the cryptocurrency market structure. These measures help integrate digital assets into traditional market infrastructure. SEC Chairman Gary Gensler stated that the success of the plan depends on coordination among agencies and international cooperation among regulatory bodies.

The SEC has been working for years to manage the rapid development of the cryptocurrency industry. Due to the lack of a clear regulatory framework, crypto companies have had to operate under the overlapping rules of the SEC, Commodity Futures Trading Commission (CFTC), Federal Trade Commission (FTC), and Financial Crimes Enforcement Network (FinCEN). The new plan aims to simplify this process and provide greater certainty for the industry.

Cryptocurrency companies generally welcome this. Stuart Aldrich, the general counsel of Ripple, stated: “We appreciate the SEC's efforts to establish a clear regulatory framework for digital assets. This will help eliminate the existing uncertainty and provide the guidance needed for innovators.”

However, some people are skeptical about whether the SEC can enforce the law fairly. Christina Galaher, Executive Director of the Blockchain Association, pointed out: “The SEC has been pushing for its regulatory authority over cryptocurrencies, but there are conflicts of interest in its approach. We need an independent regulatory body to oversee this industry.”

) 3. The UAE has issued new central bank laws, incorporating digital assets and DeFi into central bank regulation.

The UAE government recently issued a new central bank law that incorporates digital assets and decentralized finance ###DeFi### into the traditional banking regulatory framework. According to Federal Decree No. 6, all cryptocurrency and blockchain organizations operating within the UAE or conducting business from the UAE must obtain a license from the Central Bank of the UAE ###CBUAE(, regardless of the technology used.

The new law covers a variety of digital financial products, including cryptocurrencies, crypto assets, tokens, stablecoins, smart contracts, distributed ledgers, and decentralized autonomous organizations ) DAO (. Institutions engaging in related activities without permission will face fines of up to 1 billion dirhams ), equivalent to approximately 272 million US dollars (.

The law also stipulates a grace period, allowing existing cryptocurrency companies to apply for a license before June 30, 2025. The CBUAE will be responsible for developing specific regulatory guidelines, including anti-money laundering and counter-terrorism financing requirements.

This initiative aims to establish a favorable regulatory environment for the digital asset industry in the UAE while ensuring financial stability and consumer protection. The UAE government hopes to attract more cryptocurrency and blockchain companies to set up operations in the country through a clear regulatory framework.

The cryptocurrency industry has responded positively to this. The CEO of the exchange, Jesse Powell, stated: “This move by the UAE sends a strong signal to the world that the country is committed to becoming a global hub for cryptocurrency and blockchain technology.”

However, some people are concerned about the strictness of regulation. Coincub CEO Charles Hawley pointed out: “While regulation helps to increase trust, excessive regulation may hinder innovation. We need to seek an appropriate balance between protecting consumers and promoting innovation.”

) 4. Switzerland delays sharing of cryptocurrency tax data until 2027, global transparency process encounters a buffering period.

The Swiss Federal Council recently approved amendments to the tax information exchange regulations, incorporating cryptocurrencies into the global reporting standard framework. However, the automatic data sharing program originally scheduled to be implemented in 2026 will be postponed until as early as 2027.

The new regulations require cryptocurrency service providers to fulfill registration, reporting, and due diligence obligations. However, as the list of partners has not yet been determined, Switzerland has decided to postpone implementation. This decision reflects the challenges faced by major global economies in coordinating cryptocurrency tax transparency.

Swiss Finance Minister Guy Parmelin stated: “We recognize the regulatory challenges posed by cryptocurrencies, and therefore have decided to postpone the implementation of new regulations to ensure a smooth transition. We will continue to work with other countries to achieve a higher level of tax transparency.”

This delay provides a longer compliance adaptation period for the cryptocurrency industry, but it may also affect international investors' expectations regarding tax compliance for crypto assets. Some experts believe that this could exacerbate regulatory uncertainty, thereby hindering industry development.

Mary Jenkins, the head of tax at Bitcoin Base, stated: “Tax compliance is crucial for gaining the trust of mainstream investors. It is disappointing that Switzerland has delayed the implementation of new regulations, but we hope countries can accelerate their efforts to establish a unified global standard.”

However, some believe this decision is a prudent move. Daniel Diubner, chairman of the Crypto Valley Association, pointed out: “Cryptocurrency is an emerging and complex field that requires time to develop reasonable regulatory measures. Switzerland's approach reflects respect for the development of the industry.”