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The US blockchain industry is urging Congress to overhaul tax rules for cryptocurrencies.
BlockBeats and other outlets reported on October 22 that the Blockchain Association recently sent a letter to House and Senate leaders calling for crypto tax legislation.
About 67 million Americans own and use digital assets, but the current tax code does not reflect changes in the market, the group wrote. The existing framework is creating uncertainty for taxpayers and imposing excessive reporting burdens, it said, encouraging innovation to move overseas.
The association's proposed tax changes include an effective tax exemption for small transactions and a reporting system aimed at protecting taxpayer privacy. It also proposed treating mining and staking rewards as newly created property and taxing them when they are disposed of, rather than when they are received.
The group also said taxes should be based on economic substance rather than technical form. In particular, it said wash-sale rules for digital assets should be designed so they do not disadvantage everyday crypto use. A wash sale prevents taxpayers from using a loss for a tax deduction if they repurchase a substantially identical asset within 30 days before or after selling it at a loss.

Visa busca adquirir Fireblocks, una empresa de infraestructura de custodia de criptomonedas.
Axios informó el 22 de octubre, citando fuentes, que Visa está en negociaciones para adquirir Fireblocks. Una fuente dijo a Axios que las negociaciones se encuentran en su etapa final.
Se está negociando una valoración de Fireblocks de aproximadamente 2.500 millones de dólares.
Si se concreta la operación, Visa aceleraría su expansión en el sector de las criptomonedas. La compañía ha estado ampliando activamente sus servicios relacionados con las criptomonedas, incluso mediante una reciente alianza con Mesh, una empresa de infraestructura financiera para criptomonedas, para ampliar las opciones de pago con monedas estables.

Andreessen Horowitz, the global venture capital firm known as a16z, is moving to drop “Crypto” from the name of its flagship digital-asset fund.
The Information, a U.S. technology news outlet, reported on October 22 that a16z recently decided to rename “a16z Crypto” as “a16z Frontier.” The move is intended to expand the fund’s investment focus beyond cryptocurrencies into a broader range of advanced technologies.
Ali Yahya, a general partner and founding member of a16z Crypto, is also leaving the firm. He is planning to launch his own startup.
a16z Crypto has raised $10 billion across five funds to date.

Kim Byoung-hwan, chairman of South Korea’s Financial Services Commission, said on October 22 that he agrees with the idea of allowing virtual asset exchanges to enter the tokenized securities, or STO, market.
Kim made the remarks during a comprehensive parliamentary audit by the National Assembly’s Political Affairs Committee on October 22, after Democratic Party lawmaker Lee Kang-il said authorities should review a plan to allow virtual asset exchanges to trade tokenized securities. Kim said he agrees with the intent.
He added that regulators would review options including integrating licensing categories or allowing concurrent operations, while taking into account market conditions and trends in investor protection.
Lee has argued that policymakers should consider using the technology and infrastructure already built by existing virtual asset exchanges as South Korea institutionalizes tokenized securities. The U.S. is moving toward allowing a range of trading platforms to enter the market under existing securities rules, Lee said.
There is no valid reason to restrict access to the tokenized securities market based on the type of exchange, he added.

Unanimous decision to hold at 3.0%
"Monetary tightening stance will continue"
Shin says pause is the fruit of earlier moves
Will respond after checking October inflation
Growth seen topping 3% for a second straight year
The Bank of Korea held its benchmark interest rate unchanged at 3.0% on Oct. 22 in a unanimous decision. Even so, markets are increasingly betting the BOK will resume rate hikes in November, with growth and inflation proving stronger than expected.
Assessing the impact of preemptive hikes
At a press briefing, BOK Governor Hyun Song Shin described the decision to hold rates as “the fruit of hoeing.” The remark meant the central bank had secured room to manage policy in line with domestic economic conditions after its unusual back-to-back rate increases in July and August. At the time of the August hike, Shin had cited a Korean proverb to stress the need for preemptive action.
Shin said the BOK needed to monitor external uncertainties, including the conflict in the Middle East, monetary and fiscal policy in major economies, and possible policy changes after the U.S. midterm elections. He added that it would not be too late to respond after reviewing third- and fourth-quarter growth and October inflation data. The bank also needs to examine how earlier rate increases are affecting growth and prices.
Still, Shin reiterated that the central bank would maintain its tightening bias in light of solid growth and rising prices. In its monetary policy statement, the BOK said this year’s and next year’s growth rates would come in well above its August forecasts of 3.3% and 2.9%, respectively. When the BOK has used the phrase “well above” in the past, the actual revision has typically been about 0.3 to 0.4 percentage point. That suggests the economy is increasingly likely to post growth above 3% for a second straight year for the first time since 2017-2018.
The BOK also said next year’s inflation is likely to exceed its August forecast. In August, the central bank projected next year’s consumer inflation and core inflation at 2.3% and 2.5%, respectively. Shin said growth and inflation were in some respects stronger now than in August, when the BOK delivered consecutive rate hikes, underscoring the need to maintain the current tightening stance.
Private consumption recovery seen broadening
Markets expect the BOK to resume rate hikes in November. In its economic assessment released on Oct. 22, the central bank said third-quarter growth would remain strong following the first half. On private consumption, it said the recovery would gradually broaden, citing bonuses and dividend payouts at major companies, fiscal spending and a decline in the won-dollar exchange rate.
Choi Ji-wook, a managing director at State Street Markets, said the BOK would likely raise rates in November while lifting its forecasts for next year’s consumer inflation and core inflation by about 0.1 percentage point. He added that third-quarter growth would probably come in in the upper 0% range from the previous quarter.
The yield on South Korea’s three-year government bond rose 0.018 percentage point to 3.840% on Oct. 22 from 3.822% in the previous session. As of 3:30 p.m., the won was trading at 1,324.2 per dollar, up 1 won from the prior session.
Shim Seong-mi, Hankyung.com reporter smshim@hankyung.com

El legislador independiente Han Dong-hoon reiteró que Corea del Sur debería aplazar el impuesto previsto sobre los activos virtuales, cuya entrada en vigor está programada para el próximo año.
En una publicación de Facebook del 22 de octubre, Han dijo que la decisión de aplazar el impuesto debía tomarse sin demora. Escribió que el viceministro de Finanzas, Lee Hyoung-il, había dicho ese mismo día, durante una auditoría parlamentaria, que el Gobierno «tomaría una decisión tras deliberar todo lo posible» sobre la tributación de los activos virtuales. Han añadió que, si se analiza el asunto a fondo, cree que la conclusión será aplazarla.

Kim Byoung-hwan, chairman of South Korea’s Financial Services Commission, said SK Hynix’s push to list its US subsidiary Solidigm would fall under the country’s dual-listing rules.
Testifying at the National Assembly Political Affairs Committee’s comprehensive audit on Oct. 22, Kim said Solidigm’s proposed listing is subject to the dual-listing guidelines. He added that SK Square and SK Hynix, as parent companies, must fulfill five obligations based on their duty to protect shareholder interests.
Under current rules, a parent company pursuing a dual listing must complete five steps: assess the impact on shareholders, prepare measures to protect them, communicate with shareholders, obtain a board resolution for or against the plan, and make disclosures. Under dual-listing rules set by the Financial Services Commission and the Korea Exchange, those procedures are required when a company seeks an exception to a dual listing that is, in principle, prohibited.
Kim also addressed whether the rules apply to overseas listings. In a question-and-answer exchange with Democratic Party lawmaker Lee Kang-il, he said the dual-listing guidelines apply to both overseas and domestic listings.
He did not give a definitive answer on whether a securities registration statement would need to be filed in South Korea. There has been no official announcement or specific details on a listing plan yet, he said.
Solidigm originated from SK Hynix’s 2021 acquisition of Intel’s NAND flash and solid-state drive businesses. In the ownership structure, AI Company sits above Solidigm, followed by SK Hynix, SK Square and SK Inc.

U.S. spot-Bitcoin exchange-traded funds recorded more than $500 million in net inflows in a single day.
Trader T data for October 21 showed combined net inflows into U.S. spot-Bitcoin ETFs totaled $528.41 million. BlackRock's IBIT brought in $235 million and Fidelity's FBTC attracted $212.71 million, accounting for about 85% of the total.
Grayscale's GBTC and Bitcoin Mini Trust posted net inflows of $32.59 million and $8.21 million, respectively. Bitwise's BITB recorded $19.23 million of net inflows, Ark Invest's ARKB took in $9.79 million, Franklin Templeton's EZBC added $7.31 million and Valkyrie's BRRR saw $3.57 million of net inflows. The remaining products recorded no net inflows or outflows.
Month-to-date net inflows came to $463.3 million, while year-to-date net inflows totaled $1.39 billion.

Financial Services Commission Chairman Kim Byoung-hwan said consultations on the government’s draft Digital Asset Framework Act are in their final stages. He also said the Ministry of Economy and Finance is gathering opinions on virtual-asset, or cryptocurrency, taxation scheduled to take effect next year.
Kim made the remarks on Oct. 22 during a National Assembly audit by the Political Affairs Committee. “Legislation related to digital assets is in the final stage of consultations, and we will do our best to have it introduced as quickly as possible,” he said.
During the hearing, lawmakers raised concerns that taxation could be implemented before an industry regulatory framework is in place. Song Eon-seok, a lawmaker from the ruling People Power Party, said the government told the president in a July policy briefing that it would prepare the bill within the year, but has yet to present its draft.
Song said the government would be imposing taxes before legally clarifying what kind of product digital assets are. He argued that the tax should either be abolished or its implementation postponed until the bill is prepared.
Kim did not present a separate position on the timing of the tax. He said there were a variety of views on the issue and that the Ministry of Economy and Finance was collecting opinions.

The South Korean government is continuing to gather opinions as it decides whether to proceed with taxation of virtual assets, or cryptocurrencies, now scheduled for January next year. The National Tax Service plans to finalize a related administrative notice by the end of October, but the government has not yet determined whether to grant an additional delay.
Lee Hyoung-il, deputy prime minister and finance minister, told the National Assembly’s Strategy and Finance Committee during a comprehensive parliamentary audit on Oct. 22 that the government would make its decision after carefully considering views from the industry, experts and lawmakers.
Questions about the government’s readiness for the tax continued during the audit. Yoon Hu-deok, a lawmaker from the Democratic Party, said the government had repeated the same promise to prepare each time the measure was postponed. Virtual-asset taxation was approved in 2020 and has since been delayed three times. It is now scheduled to take effect on Jan. 1, 2027.
The government recently reviewed market changes and tax conditions at a meeting with industry participants. Kwon Dae-young, first vice finance minister, met industry officials and experts on Oct. 20 and said the system had originally been built around spot trading when the framework was introduced in 2020, but related technology has advanced significantly since then. Lee added that he had already said the government would hear more from experts and the industry before making a decision, and that the meeting was part of that process.
The draft notice needed for tax administration has not yet been finalized. Cho Seung-rae, chair of the committee, said he had received materials from the government on its preparations and the notice, and that the government reported it planned to finalize the measure by the end of October.
The ruling party leadership wants a conclusion this year. Kim Min-seok, leader of the Democratic Party, said on the party’s YouTube program “Minti 07” on Oct. 22 that the issue should be settled this year. He said he had also proposed to Lee on Oct. 21 that the government conduct a final review and reach a conclusion, adding that it was time to begin discussions on whether to proceed with the tax as scheduled or revise the system.

Shin Hyun-song, governor of the Bank of Korea, said the central bank’s previous two rate increases gave policymakers room to assess additional economic indicators. He also said a decline in the exchange rate can boost the purchasing power of low-income households.
Speaking after the Monetary Policy Board left the benchmark interest rate unchanged at 3.00% on Oct. 22, Shin said back-to-back rate hikes in July and August had given the central bank greater flexibility to run policy in line with domestic economic conditions.
He described the hold decision as “the fruit after hoeing.” The comment followed his explanation in August that the central bank had acted with a hoe to stop what might otherwise have required a shovel, underscoring that the preemptive move had bought time to watch additional data.
Still, he said upside risks to growth and inflation had risen from the previous forecast.
“Compared with the August outlook, upside risks to growth and inflation appear to have grown,” Shin said. “But I did not think it would be too late to make a judgment after checking additional data, including third-quarter real gross domestic product and October inflation trends.”
Shin also commented on the impact of exchange-rate moves on households, saying a 10% decline in the exchange rate raises the purchasing power of households in the first income quintile by more than 0.4%. The first income quintile refers to the bottom 20% of households ranked by income.

Una vulnerabilidad de seguridad en PHP, el lenguaje de programación utilizado para crear sitios web, ha aumentado el riesgo de que atacantes externos puedan tomar el control de servidores de forma remota. Gobiernos de varios países suspendieron temporalmente algunos servicios web para aplicar parches y realizar inspecciones, mientras que empresas de criptomonedas comprobaron si estaban expuestas.
Cointelegraph informó el 22 de octubre que la Fundación PHP explicó por qué su respuesta se retrasó incluso después de distribuir un parche de emergencia. La fundación dijo que el trabajo para aplicar los parches se interrumpió repetidamente durante meses debido al proceso de toma de decisiones del equipo de seguridad y a la escasez de recursos. Describió el retraso como un fallo estructural.

El Banco de Corea mantuvo sin cambios su tasa de interés de referencia en el 3,00%, haciendo una pausa tras dos subidas consecutivas en julio y agosto. La atención del mercado se centra ahora en si el banco central aplicará otra subida el próximo mes.
La Junta de Política Monetaria del BOK dejó la tasa sin cambios en su reunión de política monetaria del 22 de octubre. El banco central reanudó las subidas de tasas en julio y volvió a aumentarlas en agosto, pero esta vez optó por mantenerlas en el nivel actual.
La inflación sigue por encima del objetivo. Los precios al consumidor subieron un 2,9% en septiembre, por encima del objetivo de inflación del 2% del BOK. Como los precios del petróleo se mantienen elevados debido a la guerra en Oriente Medio, se prevé que la inflación también se mantenga cerca del 3% este mes.

Los sólidos resultados de SpaceX impulsaron un repunte de las acciones relacionadas con la IA. Sin embargo, la presión sobre la financiación derivada de las fuertes inversiones siguió siendo el foco de atención después de que Meta registrara su primer flujo de caja libre negativo desde que salió a bolsa.
El 21 de octubre, el Nasdaq Composite subió un 1,05%, mientras que el S&P 500 avanzó un 0,58% y el Dow Jones Industrial Average ganó un 0,69%. Nvidia escaló un 2,54%, AMD subió un 3,36% y el índice Philadelphia Semiconductor repuntó un 1,97%.
SpaceX se disparó un 7,79% un día después de informar de unos ingresos de 14.600 millones de dólares y un beneficio neto de 4.400 millones en el tercer trimestre. Los ingresos relacionados con la IA se dispararon un 830% interanual, hasta los 7.600 millones de dólares. Super Micro Computer también se disparó un 9,55% tras elevar su previsión de ingresos para el periodo de julio a septiembre a entre 18.500 y 19.500 millones de dólares, frente a los 14.500-15.500 millones anteriores.

Los seis economistas consultados por Yonhap News esperan que el Banco de Corea mantenga sin cambios su tasa de interés de referencia en el 3,00 %. La opinión general es que las autoridades evaluarán el impacto de las subidas anteriores, en lugar de aplicar una tercera subida consecutiva tras las de julio y agosto.
Para determinar la trayectoria tras una pausa, habrá que tener en cuenta tanto el impulso del crecimiento como las presiones inflacionarias. El vice primer ministro y ministro de Finanzas, Lee Hyoung-il, dijo el 16 de octubre que el crecimiento del producto interno bruto real de este año podría alcanzar hasta el 3,6 %. Esa cifra supera la previsión del 3,3 % que el Banco de Corea publicó en agosto. Además, el superávit de la cuenta corriente entre enero y agosto llegó a 279.200 millones de dólares, aproximadamente cuatro veces el nivel registrado un año antes.

Las acciones estadounidenses subieron en general después de que SpaceX se volviera rentable y un fabricante de servidores de IA elevara sus previsiones de ventas. Las compras de acciones de empresas de semiconductores y servidores contribuyeron a que el Nasdaq Composite avanzara más de un 1%.
El 21 de octubre, el Nasdaq Composite cerró con una subida de 278,04 puntos, o un 1,05%, hasta los 26.702,86 puntos en Nueva York. El Dow Jones Industrial Average ganó 360,21 puntos, o un 0,69%, hasta los 52.856,09 puntos, mientras que el S&P 500 avanzó 44,60 puntos, o un 0,58%, hasta los 7.757,17 puntos.
SpaceX se disparó un 7,79% un día después de anunciar su primer beneficio desde que salió a bolsa. Los inversores también se centraron en el comentario de su director ejecutivo, Elon Musk, de que una fusión con Tesla sería «una buena idea». Las acciones de Tesla subieron un 3,41%.

Won-denominated stablecoins and preparations for virtual-asset taxation are emerging as major legislative priorities for South Korea’s National Assembly next month. Lawmakers must set the rules for companies to operate and establish the framework for investors to pay taxes, making debate over a Digital Asset Basic Act and tax policy a turning point for the domestic digital-asset market.
The National Assembly’s Political Affairs Committee plans to begin reviewing the Digital Asset Basic Act at a bill-review subcommittee next month, with the goal of passing it within the year. A tax subcommittee under the committee handling fiscal and economic planning will also discuss the timing of virtual-asset taxation, which is scheduled to take effect in January. One track centers on market regulation and the other on taxes, but both address the broader task of bringing the market into the formal system.
The government is also emphasizing the link between the two issues. Kwon Dae-young, first vice minister of economy and finance, told a meeting of industry officials and experts on Oct. 20 that tax principles can take root in the market only if tax infrastructure and a market-regulation framework are put in place together. The comment suggests authorities see tools to track transactions and secure market trust as essential before taxes are imposed.
For won stablecoins, the central issue is an issuance structure that combines financial stability with private-sector business capacity. One option under discussion would require banks to hold at least 50% plus one share in a consortium, while fintech companies argue that non-bank firms also need room to participate. A key question is how to make use of technological capabilities and distribution networks as authorities define issuance eligibility and governance rules.
Shin Hyun-song, governor of the Bank of Korea, said at a parliamentary audit on Oct. 12 that he is “basically in favor” of private issuance. Financial Services Commission Chairman Lee Eok-won said on Oct. 8 that authorities would move quickly in consultations to prepare how to guide the industry and the broader market. Abroad, KRWQ, a won-pegged token launched in October 2025, is already in circulation, underscoring the need to create an institutional path for domestic projects.
On taxation, the key issue is how fairly and accurately authorities can track domestic and overseas transactions. Limits on securing records of offshore trading and the absence of loss carryforward deductions are among the issues cited for improvement. Under the current timetable, starting next year, authorities would impose a 22% tax, including local taxes, on annual virtual-asset income above 2.5 million won ($1,800).
Lawmakers in both the ruling and opposition parties are continuing to push for an adjustment to the implementation schedule based on the state of preparations. Park Min-gyu of the Democratic Party proposed an amendment to delay taxation until 2029, citing the US timetable for joining the Crypto-Asset Reporting Framework, or CARF, for automatic information exchange. Park Soo-young of the People Power Party said on Oct. 21 that authorities should not “kick away the ladder” for young people trying to build wealth, adding that he would pursue bipartisan talks on a delay. The government has yet to set out a final position.
The Political Affairs Committee is expected to discuss issuers and business requirements for won stablecoins as part of its review of the basic law next month. The tax subcommittee under the fiscal and economic planning committee will examine proposals to adjust the start date for taxation. The detailed timetable for institutionalization will hinge on when the government submits its proposal and the outcome of talks between the two parties.

El presidente Donald Trump dijo que planea gastar más de 400 millones de dólares antes de las elecciones de mitad de mandato del próximo 3 de noviembre, intensificando los mítines y la publicidad en estados disputados mientras los republicanos luchan por conservar su mayoría en el Senado.
Trump escribió en Truth Social el 20 de octubre que se gastarían más de 400 millones de dólares antes del día de las elecciones. Los super-PAC favorables a Trump, incluido MAGA Inc., ya han invertido más de 200 millones de dólares desde septiembre, y aún quedan unos 200 millones más, según el artículo.
La estrategia defensiva republicana se centra en los estados disputados en la contienda por el Senado. Aunque se prevé que los demócratas tengan ventaja en la Cámara de Representantes, el Senado podría quedar dividido 50-50 entre los dos partidos. En ese escenario, los republicanos conservarían el control gracias al voto de desempate del vicepresidente. Si los demócratas obtienen 51 escaños, tomarían el control del Senado.

Las acciones de SpaceX, la empresa espacial dirigida por el director ejecutivo de Tesla, Elon Musk, se dispararon en las primeras operaciones.
SpaceX cotizaba a alrededor de 165 dólares el 21 de octubre, un 12% más que en la sesión anterior, según TradingView. Fue la primera vez en unos dos meses, desde agosto, que las acciones subían más de un 10%.
El repunte se produjo tras la publicación de los resultados del tercer trimestre y la noticia de que la empresa está estudiando una fusión con Tesla. SpaceX anunció el 20 de octubre que sus ingresos netos del tercer trimestre ascendieron a 4.400 millones de dólares, más del doble de los 1.880 millones previstos por el mercado.

La Oficina del Contralor de la Moneda evaluará la legalidad de los programas de recompensas de las stablecoins caso por caso.
CoinDesk informó el 21 de octubre que la OCC publicó ese día la norma definitiva de implementación de la Ley GENIUS, la ley estadounidense sobre stablecoins. La norma entrará en vigor el 18 de enero de 2027.
La cuestión principal son las recompensas en stablecoins. La Ley GENIUS prohíbe a los emisores pagar a los clientes intereses u otros rendimientos únicamente por mantener, usar o conservar stablecoins de pago.
La OCC afirmó que aplicará la ley basándose en los hechos y las circunstancias específicas de cada programa de recompensas. Algunas recompensas podrían permitirse si una parte del pago se realiza por motivos distintos de los expresamente prohibidos por la Ley GENIUS. La agencia no proporcionó ejemplos concretos de qué estructuras de recompensas estarían permitidas o prohibidas.