The new bill, called the Pennsylvania Bitcoin Strategic Reserve Act, introduced in the Pennsylvania House of Representatives on Thursday, is the first of its kind and would allow the state’s treasury to allocate up to 10% of its roughly $7 billion state funds into bitcoin as a way to help combat inflation and diversify its investments beyond traditional assets like bonds and … [Read more...] about Pennsylvania introduces bill for bitcoin reserve
Detroit to accept cryptocurrency payments for taxes and fees
Detroit will become the largest city in the United States to accept cryptocurrency payments through a secure platform managed by PayPal, city officials announced. … [Read more...] about Detroit to accept cryptocurrency payments for taxes and fees
Tether reveals $2.5 billion profit in Q3 2024
Tether Holdings, the company that issues the largest stablecoin USDT, reported net profit of $2.5 billion in the third quarter of the year, bringing year-to-date profit to $7.7 billion. The company also said it has over $6 billion in excess reserves. … [Read more...] about Tether reveals $2.5 billion profit in Q3 2024
Italy to raise capital gains tax on bitcoin from 26% to 42%
Italy will raise the tax to 42% from 26% as part of plans to raise more revenues in the 2025 budget, according to Deputy Economy Minister Maurizio Leo. … [Read more...] about Italy to raise capital gains tax on bitcoin from 26% to 42%
Nearly half of traditional hedge funds have exposure to digital assets
Nearly half (47%) of traditional hedge funds surveyed this year have exposure to cryptocurrencies, up from 29% in 2023 and 37% in 2022, as increased clarity around regulations and the launch of exchange-traded funds in the U.S. and Asia draw more investors into the asset class, according to a new report by AIMA and PwC. … [Read more...] about Nearly half of traditional hedge funds have exposure to digital assets
Fintech giants enter stablecoin race as demand for digital assets grows
Leading fintech firms Revolut and Robinhood are exploring entry into the burgeoning stablecoin sector, reflecting a growing trend among traditional financial companies to delve into digital currencies. Revolut is reportedly planning to launch its own stablecoin to expand its digital asset offerings and solidify its position as a pioneer in fintech innovation. The company’s move … [Read more...] about Fintech giants enter stablecoin race as demand for digital assets grows
TOKEN2049 Doubles Down On Record Shattering Success: The World’s Largest Crypto Event With 20,000 Attendees and 800 Side Events
TOKEN2049, the world’s largest Web3 and crypto conference, celebrated its week-long extravaganza as the entire industry converged in Singapore. The week culminated in the flagship conference on 18-19 September at Marina Bay Sands, where it saw 20,000 attendees and over 800 side events take place in the heart of Asia’s leading fintech capital. … [Read more...] about TOKEN2049 Doubles Down On Record Shattering Success: The World’s Largest Crypto Event With 20,000 Attendees and 800 Side Events
Louisiana integrates cryptocurrency for state payments
Louisiana State Treasurer Dr. John Fleming announced the integration, which allows residents to pay for state services using Bitcoin, Bitcoin Lightning, and USD Coin. The first payment was successfully made to the Louisiana Department of Wildlife and Fisheries. … [Read more...] about Louisiana integrates cryptocurrency for state payments