Bybit CEO： I still believe that PI is a scam and therefore will not go public

[Indian MP Raghav Chadha Proposes Dedicated Tokenization Bill to Empower Real-World Assets] Indian Aam Aadmi Party MP Raghav Chadha has proposed a 'Tokenization Bill' in the Rajya Sabha, aiming to establish a legal framework to leverage blockchain technology for empowering real-world assets (RWAs). Chadha emphasized that the core of the proposal is to achieve financial democratization through fractional ownership of assets and called for the creation of a regulatory sandbox for companies to experiment with tokenization products. The bill seeks to clearly define the legal status of tokenized assets to prevent risks such as sovereign data loss and unregulated trading of assets on foreign networks due to the lack of domestic regulations.

[Largest ZEC Short Position on Hyperliquid Reduces ZEC Shorts and Adds MON Shorts] The largest ZEC short position on Hyperliquid reduced its ZEC short position to $9.1 million yesterday after turning profitable, with an average price of $389. Subsequently, the funds were used to increase MON short positions, with the current MON position size at approximately $9.2 million, an average price of $0.0308, and unrealized profits of $4.62 million. This address opened its ZEC short position on October 10, and on October 17, unrealized losses had reached $21 million. Currently, it is still closing ZEC and STRK short positions, with the account's main profits coming from ETH shorts, which have a position size of approximately $92.95 million, an average price of $3,377, and unrealized profits of $13.86 million. This address is the largest short position holder for ETH, ZEC, and MON on Hyperliquid, with total positions amounting to approximately $113 million.

[The Japanese Government Plans to Postpone the Implementation of Separate Taxation for Crypto Assets to January 2028] The Japanese government plans to postpone the implementation of the separate taxation policy for crypto asset declarations to January 1, 2028. Although the market had anticipated that the new tax system might be implemented within 2027 following the passage of the Financial Instruments and Exchange Act amendment, the government prefers to proceed with the reform after confirming market conditions under the new legislation. Currently, profits from crypto asset trading in Japan are classified as miscellaneous income, with a maximum tax rate of 55%. The industry has called for a change to a 20% separate taxation rate. The government stated that the delay is due to the need to further improve investor protection measures.

[The UK Plans to Regulate Cryptocurrency Using Financial Product Models Starting October 2027] The UK is expected to implement regulations for cryptocurrencies based on the regulatory models of other financial products starting in October 2027. The UK Treasury has submitted a new bill requiring cryptocurrency businesses to comply with various standards and regulations and to be supervised by the Financial Conduct Authority (FCA). According to the bill, cryptocurrency exchanges and digital wallet service providers offering services within the scope of anti-money laundering regulations in the UK must register with the FCA and be subject to its oversight. The Treasury stated that the new regulations, once implemented, will help enhance industry transparency and consumer trust, while making it easier to identify suspicious transaction activities.

[Bhutan Commits 10,000 Bitcoins to Develop the Glelup Mindfulness City] Bhutan has announced it will allocate 10,000 Bitcoins (approximately $875 million) from its reserves to construct the Glelup Mindfulness City (GMC). Bhutan currently holds around 11,286 Bitcoins, with a total value exceeding $986 million, making it the fifth-largest Bitcoin-holding nation globally. GMC is set to launch in 2024, covering an area of approximately 1,544 square miles, aiming to attract financial, technology, and other enterprises. The project will be developed in phases over the next 20 years and has already introduced the gold-backed sovereign digital token, TER.