Today China changed its gold tax policy: it cut a VAT exemption for certain gold retailers.Previously some gold sold via the Shanghai Gold Exchange or the Shanghai Futures Exchange could avoid the full 13 % VAT deduction; now that deduction has been reduced to 6 %.
Why that matters for crypto-world enthusiasts: it sends a signal that China wants to reshape how it treats investment vs non-investment metals, puts more cost burden on gold jewelry & industrial demand, while still favouring investment gold.
That could indirectly boost interest in digital stores of value (like crypto) , because when traditional safe-havens get stricter or more expensive, people may look for alternatives. It also reinforces the idea of tightening regulation / oversight in hard-asset markets, which parallels some of the regulatory pressure crypto faces.
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