Source publication: November 7, 2026, at 13:43:34 UTC+8. This article summarizes the developments reported in that dated roundup; it does not establish their current status.
US sanctions enforcement, crypto access to retirement accounts, Greek taxation and Nigerian stablecoin licensing featured in Odaily’s November 7 report. The developments span enforcement actions, legislation, licensing rules and policy proposals—distinct stages with different implications for crypto businesses and users.
United States: sanctions and financial-system access
Odaily reported that the US Treasury’s Office of Foreign Assets Control, or OFAC, cut MEXC off from the US financial system. According to the report, Treasury alleged that the exchange was involved in $16 billion in transactions linked to Iran, North Korea and Russia. That figure describes the transactions cited in the allegation, not a reported fine.
The roundup also reported US sanctions against 45 targets associated with Prince Group, which it described as a crypto-fraud network.
Odaily interpreted these actions as increasing the risks surrounding exchanges’ access to dollar-based financial services, particularly for offshore platforms. That is the source’s assessment of potential market consequences, rather than a separate regulatory finding.
Travel Rule proposal withdrawn; retirement-account access still advancing
The report said Treasury had withdrawn a Travel Rule proposal concerning anti-money-laundering information reporting. A withdrawn proposal is not the same as the repeal of an effective rule. The supplied account did not identify the proposal’s precise scope or explain which existing obligations would remain in force.
Separately, Odaily reported that the Trump administration was advancing efforts to allow crypto assets in 401(k) retirement accounts. The source described progress toward access, not a completed authorization, and provided no implementation date or detailed eligibility requirements.
These two developments therefore should not be read as a general removal of US crypto compliance restrictions.
Greece: crypto tax legislation reported as passed
According to the roundup, Greece passed crypto tax legislation setting rates of:
- 10% on crypto gains;
- 15% on staking and decentralized-finance activity.
The supplied report did not identify an effective date, transition arrangements or detailed definitions of the taxable activities. Its description supports reporting passage of the legislation and the stated rates, but not conclusions about how particular transactions or taxpayers would be treated.
Nigeria: stablecoin licensing rules and an algorithmic-token prohibition
Odaily reported that the Central Bank of Nigeria introduced stablecoin licensing rules and prohibited algorithmic stablecoins.
The source did not provide an implementation timetable, licensing conditions or the precise legal definition used for algorithmic stablecoins. The reported prohibition concerns that stablecoin category; it should not be broadened into a claim that Nigeria banned all stablecoins or crypto assets.
US congressional shift adds legislative uncertainty
The roundup reported that Democrats secured a Senate majority and their largest congressional advantage in nearly 50 years in the US midterm elections. It linked that outcome to uncertainty over crypto market-structure legislation, including the framework for exchange oversight.
On the adjacent AI-policy agenda, Odaily cited Reuters reporting that Democrats were preparing a package of AI bills and Bloomberg reporting that Nvidia’s AI-chip exports would face congressional scrutiny. Bill text, timing and any changes involving export-control entity lists remained uncertain, according to the source. These were legislative intentions and market expectations, not enacted restrictions.
The report connected that uncertainty to crypto-listed companies expanding into AI infrastructure. It cited TeraWulf’s growing high-performance-computing leasing business and IREN’s stated plan to exit bitcoin mining by the end of 2026. Odaily’s interpretation was that such businesses could become more exposed to AI investment and policy conditions, rather than bitcoin prices alone.
An application is not an approval
Among company-level developments, the report said Hyperliquid Strategies had applied to become a Commodity Futures Trading Commission-registered futures commission merchant, or FCM. It did not report that registration had been granted.
Across the roundup, the key distinction is legal status: sanctions were reported as actions taken; Greece’s tax legislation as passed; Nigeria’s licensing framework as introduced; US retirement-account access as an initiative being advanced; and the FCM registration as an application awaiting an outcome.