According to Onchain Lens, the government of the Kingdom of Bhutan transferred 175.44 ETH, worth $497,000, to another wallet, which is suspected to be linked to QCP Capital.

According to data from Coinglass, Bitcoin and Ethereum have historically averaged 12-month returns of +4.03% and +5.64%, respectively. Bitcoin has had positive 12-month returns in five of the past 13 years (2015, 2016, 2017, 2020, and 2023); Ethereum has had positive 12-month returns in four of the past 10 years (2017, 2018, 2020, and 2023).

According to a report by Cointelegraph on December 1, Ripple's Singapore subsidiary, RippleMarketsAPAC, has received approval from the MAS to expand its regulated payment activities under its Major Payment Institution (MPI) license.

Huoxun Finance reported on December 1st that Matrixport stated Bitcoin's price encountered resistance again at the key $92,000 level, with upward momentum slowing. Despite market expectations of a potential interest rate cut by the Federal Reserve next week, related ETFs saw only minor net inflows, indicating overall weak liquidity and making it difficult to support the assessment of a significant return of institutional funds. Meanwhile, signals of tightening monetary policy in Japan exacerbated market anxiety, with the 2-year Japanese government bond yield breaking 1% for the first time since 2008. Investors are beginning to reassess the consistency in the easing pace among major central banks globally. Against this backdrop, even dovish signals from the Federal Reserve are insufficient to offset tightening expectations in other economies, and the overall policy stance remains tight, providing institutional investors with a reason to reduce their Bitcoin exposure.

Huoxun Finance reported on December 1st that the People's Bank of China, along with several other departments, recently held a "Coordination Meeting on Combating Virtual Currency Trading and Speculation" (the 1128 Meeting), reiterating the policy of the September 24, 2021 notice prohibiting virtual currency business activities. The Xiao Sa Law Firm team pointed out that, as is well known, my country has a relatively strict foreign exchange control system, generally limiting each person to a maximum annual foreign exchange quota of US$50,000. With the gradual expansion of the stablecoin market, the continuous expansion of application scenarios, and the surge in the number of cryptocurrency traders, many outbound capital needs have been met by stablecoins such as USDT and USDC. Furthermore, some have used stablecoins to facilitate money laundering or conceal the proceeds of crime for upstream offenses. In judicial practice, there have even been instances of audacious foreign trade merchants using USDT and USDC to circumvent UN sanctions resolutions and assist sanctioned countries in their foreign trade. The focus of this meeting was: first, to guide judicial decisions back to a more lenient approach and curb the trend of courts treating cryptocurrency-related contracts leniently; and second, to severely crack down on serious violations such as illegal foreign exchange, money laundering, and assisting sanctioned countries in their trade using stablecoins such as USDT and USDC. Furthermore, lawyer Xiao Sa believes that this meeting does not represent a policy shift, nor will it affect Hong Kong's open policy towards virtual assets. Currently, a pattern of "mainland restrictions, Hong Kong openness" has emerged, with a clear regulatory intent: financial innovation is permissible, but must be carried out compliantly within designated areas and frameworks. For mainland practitioners, it is crucial to remain vigilant against legal red lines, conduct business in compliance with regulations, and avoid any侥幸心理 (a sense of侥幸, or a belief that one can get away with something).