Reincarnation Community News on May 20

1. Australian Court Rules Bitcoin as Currency, Potentially Triggering $640 Million Tax Refund [Importance 35%]

Content: The Victoria State Court ruled that Bitcoin is considered “currency” rather than a taxable asset, overturning the Australian Taxation Office (ATO)'s taxation rules since 2014. If the ruling holds, Bitcoin traders could receive a total tax refund of 1 billion AUD (approximately $640 million).

Analysis: This move may trigger a global imitation, weakening the capital gains tax burden on cryptocurrencies, stimulating market sentiment in the short term, but attention needs to be paid to the progress of the ATO's appeal and the risk of policy implementation delays.

2. Federal Reserve's Williams Says Economic Data is Strong, Rate Hike Expectations Rise [Importance 30%]

Content: Federal Reserve's “number three” Williams emphasized that the “economy is close to full employment,” suggesting the interest rate hike cycle may be prolonged. CME data shows that the probability of maintaining interest rates in June remains at 91.4%, but the probability of a rate cut in July has dropped to 28%.

Analysis: Market concerns over “long-term high interest rates” are intensifying, suppressing risk appetite, but BTC is still viewed as an inflation hedge due to its decentralized nature.

3. Tether Holds More U.S. Treasury Bonds than Germany, Strengthening Stablecoin Credit Anchor [Importance 20%]

Content: Tether holds $120 billion in U.S. Treasury bonds, surpassing Germany ($111.4 billion), with its U.S. Treasury investment portfolio yielding over $1 billion in the first quarter, offsetting losses from cryptocurrency market volatility.

Analysis: Tether's compliance and increased transparency of reserves enhance market confidence in USDT, indirectly supporting BTC liquidity, but caution is needed regarding regulatory scrutiny of its reserve assets.

4. Bybit Launches USDT Trading for Global Stocks, Bridging Crypto and Traditional Assets [Importance 15%]

Content: Users can directly trade 78 stocks such as Apple and Tesla, as well as gold and crude oil, using USDT, enabling cross-asset class operations.

Analysis: This move may attract traditional investors into the crypto market through stablecoins, expanding the BTC funding pool, but attention should be paid to potential regulatory restrictions on “mixed operations.”

5. Solana Labs Launches Alpenglow Program, Technical Upgrade Draws Attention [Importance 10%]

Content: Solana's core protocol will replace the existing consensus mechanism with Votor and Rotor components, aiming to enhance network stability and throughput.

Analysis: If the upgrade is successful, it could siphon some BTC funds into the Solana ecosystem, but BTC remains as “digital gold.”