Laws move slower than markets. But they hit harder. This is issue #95 of The Bitcoin Act: your Tuesday and Sunday briefing on the legal and regulatory moves that actually shape Bitcoin.

Now for today’s top stories:

🗳️ Crypto PACs Spend $170M
Three industry political committees spent nearly $170 million on today’s midterms.

🇧🇷 Itaú Files First in Brazil
Brazil’s largest private bank filed its custody service, Bitcoin included, under new central bank rules.

🏛️ $176M for a Post-Trump Bloc
Reuters counted $176 million in industry spending to build allies beyond 2029. Without the CLARITY Act.

Three industry super PACs (committees that can spend unlimited sums, as long as they don’t coordinate with candidates) spent nearly $170 million on today’s midterms, with the biggest sums backing Republicans or opposing Democrats. Fairshake and its affiliates: $154 million.

Cash isn’t votes. Kalshi priced a 70% chance Democrats take both chambers, and any Bitcoin tax bill needs 60 Senate votes. Until one passes, every coffee paid in sats stays a taxable event, whoever wins tonight.

CoinDesk

On October 27, Itaú Unibanco, Brazil’s largest private bank, became the first bank to file its trading and custody service (holding coins for clients, Bitcoin included) under Resolution 520, Brazil’s central bank rulebook. Laggards get 30 days to shut down.

Brazil, not the US. But the pattern travels: banks hold your keys, regulators hold the banks, and from November 6 Brazilian banks can’t deal with unlicensed providers. Coins on a bank’s books sit inside that chokepoint. Coins in self-custody don’t.

CoinDesk

A Reuters review found the crypto industry spent about $176 million across 100+ midterm races through October 20. Fairshake and affiliates: $150.8 million. The goal: a bipartisan bloc in Congress that outlasts Trump, who leaves office in 2029.

Fairshake backed only Republicans in Senate races after Democrats blocked the CLARITY Act from a final vote, per Reuters. Until it passes, Washington’s friendlier stance on Bitcoin is policy, not law, and policy can flip in 2029.

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🏛️ Washington Eyes Binance
Trump said October 30 he’s examining the $6.3 billion Binance hack. CFTC Chair Michael Selig cited offshore exchanges’ lack of US oversight; Sen. Lummis said the stalled CLARITY Act would allow instant freezes of suspicious transactions.

💰 Binance Covers Losses
Binance committed $6.34 billion of its own funds to cover the hack, which it linked to a compromised engineer’s laptop. Withdrawals were suspended, and by November 2 it had replenished about 95% of affected assets.

🚨 FBI Blacklists Addresses
On October 31, the FBI pinned the Binance hack on North Korea’s TraderTraitor and listed 19 Bitcoin addresses among 628, urging node operators to block them. Those 18,270 BTC remain untouched and unfrozen.

🇰🇵 Pyongyang Denies Hack
Kim Yo-jong, sister of North Korean leader Kim Jong-un, rejected the FBI’s finding that Pyongyang’s hackers stole $6 billion from Binance, Yonhap reported Monday. Three analytics firms had reached the same conclusion.

🌉 Tron Laundering Route
Hackers laundered about $242 million of Binance loot on Tron in two days, analyst SomaXBT said, mostly through cross-chain swap services. THORChain’s official website blocked FBI-flagged addresses; its independent node operators haven’t publicly committed.

⚖️ Thailand: Bitcoin Is Property
Thailand’s Supreme Court ruled Bitcoin is property, rejecting a robbery defendant’s claim it has no value. Attackers on Koh Samui forced a victim to send 2.48 BTC in 2022; the court upheld an accomplice’s 10-year sentence.

📈 NYSE Tokenizes Stocks
On November 2, NYSE added Broadridge, Computershare, Equiniti and Superstate as transfer agents for its tokenized-stock platform. Holders could vote from a wallet and trade 24/7. Regulators haven’t approved it yet.

🇪🇺 $133M Mystery Hack
ZachXBT flagged over $133 million drained from an unnamed EU entity’s exchange accounts. The thief quickly swapped freezable stablecoins into ether and Monero. No victim has come forward; he doubts North Korea’s involvement.

🏦 UK Bank Transfer Complaints
UK bank customers filed 10,092 complaints between May and August over blocked or capped transfers to crypto platforms, according to advocacy group Stand With Crypto. Its report lists six banks as banning such transfers outright.

💵 $5,000 Trump Dividend
Trump renewed his pledge of a $5,000 “dividend” per adult if Republicans keep Congress, funded by tariffs. Reuters puts the cost near $1.2 trillion; it needs congressional approval. A promised $2,000 tariff check never arrived.

Every week I answer one real question about Bitcoin law, regulation, or policy that affects your life as a stacker. No fluff. Just signal.

This week: What happens if sats from the Binance hack land in my wallet?

On October 31, the FBI published 19 Bitcoin addresses tied to North Korea’s $6.3 billion Binance hack. It urged services to block transactions “with or derived from” them.

Got a legal or regulatory question you want answered next Tuesday? Hit reply and send it.

📊 Federal capital gains taxes be cut by 2026? — 6% Polymarket

📊 Who will Trump pardon before 2027? Keonne Rodriguez 9% Polymarket

📊 Which party will win the House in 2026? Democrats — 95% Polymarket

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