El Salvador’s bold move to adopt Bitcoin as legal tender in 2022 has proven highly profitable, with the government’s BTC holdings soaring to over $150 million. Bitcoin’s approval as legal tender in El Salvador marked the beginning of a remarkable journey for the country’s Bitcoin holdings. According to data from BitcoinTreasuries, the current value of […]
1. Bappebti seeks reassessment of 0.1% capital gains tax and 0.11% VAT on crypto, recognizing crypto’s economic impact. 2. January 2024 sees $2.49 million from crypto taxes, urging periodic reviews to keep pace with market changes. 3. Newly elected vice president supports crypto opportunities for Indonesia’s youth as crypto holders rise by 11% from 2021 […]
1. From April 26, authorities gain power to freeze assets tied to crimes without a conviction starting April 26. 2. Civil orders streamline crypto confiscation, targeting cybercrime and illicit activities. 3. UK plans to regulate stablecoins and crypto staking in six months, targeting completion before Jan 2025. The United Kingdom government is set to tackle […]
1. Pays $37M fine, agrees to $1.1B restitution in settlement over compliance failures with NY regulator. 2. Pending court approval, Gemini commits to returning 100% of digital assets to customers affected by the Genesis Global Capital fallout. 3. NYDFS maintains authority for future actions if Gemini fails to fulfill the $1.1B restitution within Genesis Global […]
1. U.S. prosecutors seek tighter travel controls for former Binance CEO CZ until his sentencing, requiring him to stay within the continental U.S. and provide advance notice for any travel plans. 2. The government requests Changpeng Zhao to surrender his Canadian passport and all other current and expired passports, escalating legal measures ahead of the […]
Crypto companies and executives, including Coinbase, Ripple Labs, and Andreessen Horowitz, have collectively contributed $68.5 million. The companies gave it to three crypto-focused super PACs—Fairshake, Protect Progress, and Defend American Jobs. These PACs, aiming to support leaders endorsing American crypto and blockchain innovation in the 2024 elections, collectively raised $84.8 million in 2023. Top Contributors […]
Despite positive economic reports, the U.S. faces a looming debt crisis, raising questions about the sustainability of consumer spending, including investments in cryptocurrency. Debt: A Growing Concern Despite the positive reports, public debt stands at a historic $34 trillion, with consumer credit card debt reaching $1.13 trillion. “National debt, if it is not excessive, will […]
In a comprehensive policy roadmap presented by global standard-setting organizations, the idea that merely banning cryptocurrency won’t suffice to eliminate its risks is gaining prominence. This forward-thinking document, commissioned by the intergovernmental G20 forum under India’s leadership, amalgamates norms outlined by the Financial Stability Board (FSB), the International Monetary Fund (IMF), and other international standard-setters […]