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
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%
Bitcoin reserve gains bipartisan traction as U.S. lawmakers explore new digital strategy
Momentum is building in Washington for the establishment of a U.S. strategic Bitcoin reserve, as lawmakers from both parties see potential benefits in securing the nation’s foothold in the digital asset economy. The proposal has drawn support from key members of Congress, who argue that holding Bitcoin could bolster the country’s financial resilience and provide a hedge against … [Read more...] about Bitcoin reserve gains bipartisan traction as U.S. lawmakers explore new digital strategy
China escalates crypto crackdown with new anti-money laundering regulations
China has intensified its regulatory scrutiny of cryptocurrency activities by formally classifying crypto transactions as a form of money laundering under updated anti-money laundering (AML) laws. This development marks a significant escalation in the country’s ongoing crackdown on digital assets, further tightening the noose around what Beijing views as a major financial risk. … [Read more...] about China escalates crypto crackdown with new anti-money laundering regulations
Europe’s MiCA regulation: navigating the future of stablecoins
The European Union’s Markets in Crypto-Assets Regulation (MiCA) represents a landmark shift in the regulatory landscape for digital assets, particularly stablecoins. Effective from June 30, 2024, MiCA introduces comprehensive requirements for stablecoin issuers and crypto asset service providers (CASPs), aiming to unify the fragmented regulatory environment across Europe and … [Read more...] about Europe’s MiCA regulation: navigating the future of stablecoins
Israel advances digital shekel initiative with new innovation challenge
Israel's Central Bank has launched the "Digital Shekel Challenge," accelerating its exploration into central bank digital currency (CBDC) solutions. This initiative aims to foster innovative real-time payment applications by leveraging the capabilities of the digital shekel. … [Read more...] about Israel advances digital shekel initiative with new innovation challenge
SEC approves spot ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) approved applications from Nasdaq, CBOE and NYSE to list ethereum exchange-traded funds (ETFs). … [Read more...] about SEC approves spot ethereum ETFs