Swiss Holdoff: Crypto Tax Reporting Won’t Start Until 2027

The launch of Grayscale's spot Dogecoin ETF on November 24, 2025, was met with disappointing trading volumes, reaching approximately $1.4 million on its first day, significantly lower than analysts' expectations. This muted response reflects a lack of enthusiasm in the market despite the anticipation surrounding the first-ever Dogecoin ETF.

India is currently reviewing its Virtual Digital Assets (VDA) framework to enhance investor protections and align local regulations with global standards. This review is part of a broader effort to reinforce the digital asset infrastructure in the country without implementing sweeping changes.

Upbit, South Korea's largest cryptocurrency exchange, has initiated an accelerated security overhaul following a cyberattack that resulted in the unauthorized withdrawal of approximately $36 million from its Solana network. The exchange has temporarily suspended all deposits and withdrawals as investigations continue into the breach, which authorities suspect is linked to North Korea's Lazarus Group.

Solana's price momentum is compressing as it approaches two critical decision points, indicating a significant period ahead for the cryptocurrency. Analysts suggest that SOL has completed its upward wave, signaling a potential deeper corrective phase, with targets set between $49.26 and $32.03 based on Fibonacci retracement levels.

Arthur Hayes, co-founder of BitMEX, has stated that most Layer 1 (L1) cryptocurrencies outside of Ethereum and Solana are likely to decline significantly, potentially heading towards zero. This assertion highlights concerns about the sustainability and viability of numerous blockchain projects in the current market landscape.

Solana spot ETFs saw a recovery with $5.37 million in net inflows on November 28, ending a 21-day losing streak, despite the SOL price dropping below $140 to $137 amid broader market weakness. Grayscale's GSOL led the inflows, indicating renewed interest in Solana-based investments.

CoinShares has decided to withdraw its applications for multiple cryptocurrency exchange-traded funds (ETFs) with the United States Securities and Exchange Commission (SEC), including those for Solana and XRP. This strategic shift reflects the firm's reassessment of the saturated US crypto ETF market amid ongoing regulatory challenges.

The Swiss government has announced a significant delay in the implementation of a major crypto law, which was anticipated to enhance the regulatory framework for cryptocurrencies in the country. This postponement reflects ongoing challenges faced by governments globally in establishing uniform tax regulations for the burgeoning crypto industry.