cryptohomie

🔴Retaliatory in a trade dispute with the United States.

🔹 A senior official warned that the European Union must present a credible threat of retaliation if it wants to secure a favorable agreement in the ongoing trade dispute initiated by U.S. President Donald Trump. Two EU officials revealed that Seibert, chief of staff to the President of the European Commission, informed EU ambassadors last week, after the G7 summit, that the prospect of a strong response could convince the U.S. President to reduce the high tariffs imposed on the EU.

🔹German Chancellor Merz also hinted that his government would support tougher measures. On Tuesday, he stated: "If no agreement is reached, we are ready to use various options. We can and will defend our interests." Seibert told the ambassadors that the President of the European Commission, von der Leyen, is prepared to escalate negotiations to secure a better deal. He urged them to support a package of tariffs on U.S. goods worth 95 billion euros and mentioned that the European Commission is also preparing measures targeting the services sector, including taxing U.S. tech companies and restricting U.S. companies' access to public procurement contracts.

🔴Powell affirms the role of the US dollar as a reserve currency amid debt concerns

🔹 US Federal Reserve Chairman Jerome Powell addressed questions regarding US Treasury bonds as a safe-haven asset. Powell confirmed that the US dollar will remain a reserve currency for a long time, regardless of the circumstances.

🔴Grayscale submits an updated application for its Solana ETF to the SEC

🔹 Grayscale recently submitted an updated S-1/A application for its ETF that invests in Solana, known as Grayscale Solana Trust ($SOL ), to the U.S. Securities and Exchange Commission #SEC . The document reveals that the management fee for this investment product is set at 2.5%.

🔴Explanation of the Federal Reserve's Position on Acquiring Bitcoin

🔹Federal Reserve Chairman Jerome Powell stated that the Federal Reserve does not have and is not seeking the legal authority to purchase Bitcoin.

🔹Powell's comments reinforce the central bank's current position on cryptocurrency acquisitions, emphasizing that Bitcoin is not part of its monetary policy or asset management strategy.

🔴The core inflation index is expected to reach its lowest level since 2021

🔹According to BlockBeats, the core inflation index preferred by the Federal Reserve is expected to drop to its lowest level since 2021 in April data. Economists from Pantheon Macroeconomics and Capital Economics estimate that the annual core personal consumption expenditures (PCE) rate, excluding volatile food and energy prices, may decrease from 2.6% in March to 2.5% in April. This would be the lowest level since March 2021, before the onset of the inflation increase caused by the pandemic.

🔹Previously, BlockBeats reported that Federal Reserve Chairman Jerome Powell indicated that the PCE index in April could be around 2.2%.

🔴🇨🇳🇺🇸 The Chinese government rejected a deal to sell TikTok to the United States after President Trump imposed new tariffs.

🔴🇩🇪🇺🇸 Germany considers withdrawing 1200 tons of gold from the U.S. Federal Reserve after new tariffs.

🔴South Korea is considering easing restrictions on foreign investors in cryptocurrencies

🔹️The head of the virtual assets division at South Korea's Financial Services Commission (FSC), Kim Sung-jin, expressed support for allowing foreign investors to enter the cryptocurrency market in South Korea. This potential shift depends on local exchanges demonstrating robust capabilities in anti-money laundering compliance. Currently, non-residents face significant barriers to trading cryptocurrencies in South Korea due to capital controls and real-name account requirements.

🔹️The regulatory landscape in South Korea is being reconsidered as the United States, under President Donald Trump, signals a more friendly stance towards cryptocurrency policies. Nonetheless, the FSC maintains a cautious approach, emphasizing that South Korean exchanges still suffer from shortcomings in international compliance, particularly in implementing the travel rule, which has been in effect since 2022, requiring exchanges to collect and store information about the parties involved in transactions exceeding one million Korean won (approximately 680 USD).

🔴Trump announces the end of the tariffs, expecting a stronger recovery for the American economy

🔹️American President Donald Trump announced the end of the reciprocal tariffs, indicating that the patient has survived and is in the recovery stage. He expressed optimism that the United States will come out stronger, bigger, better, and more resilient than ever before. Trump's statements reinforced his commitment to making America great again.

🔴 Cryptocurrency holders are facing increased scrutiny from the IRS in 2025

🔹️ Cryptocurrency holders are facing increased scrutiny from the IRS in 2025, with a rise in audits. Evolving tax regulations mean that even minor mistakes can lead to significant penalties or costly audits. As the IRS ramps up its focus on cryptocurrency transactions, investors must be vigilant in their reporting practices to avoid potential traps.

🔹️ A common mistake is neglecting wallet-based accounting. The IRS requires detailed reporting on transactions and balances for each wallet, eliminating the practice of consolidating all trades into a single spreadsheet. Whether hot wallets or cold wallets or a mix of both, records for each wallet must be tracked individually. Tools like CoinTracking, CoinLedger, or TaxBit can help synchronize real-time data from various exchanges, ensuring compliance and preventing surprises during an IRS audit.

🔴California Introduces Bitcoin Rights Bill to Protect Digital Asset Ownership

🔹️The California State Assembly has introduced a Bitcoin Rights Bill, known as AB-1052, which aims to provide legal protection for self-custody of digital assets. The bill was proposed by Juan Carrillo Valencia, chair of the Banking and Finance Committee in the Assembly, and was officially announced on March 29 by the nonprofit Satoshi Action Fund on the social media platform X.
AB-1052 includes several provisions to protect digital asset users. It explicitly recognizes the right to self-custody of Bitcoin and other digital assets, prohibits government agencies from imposing taxes or restrictions solely based on the use of assets in payments, and establishes a legal framework for dealing with unclaimed digital assets, ensuring they are managed by licensed custodians. Additionally, the bill seeks to amend the Political Reform Act of 1974 to prohibit public officials from issuing, sponsoring, or promoting any digital assets, securities, or commodities, with the aim of reducing political influence over emerging financial technologies.

🔹️Supporters of the bill believe it could serve as a legislative model for other areas. They suggest that California's adoption of AB-1052 could ignite a nationwide discussion around regulatory frameworks.

🔴Trump plans to implement global tariffs this week

🔹️U.S. President Donald Trump announced during an interview aboard Air Force One that he intends to impose tariffs on all countries this week. He mentioned that this step aims to monitor subsequent developments.

🔴Trump to announce new tariffs amid potential trade agreements

🔹️U.S. President Donald Trump plans to announce new tariffs in the coming days. He has expressed his openness to negotiating tariff agreements with other countries, noting that any deals will occur after the new tariffs take effect on April 2.

🔹️During an interview aboard Air Force One en route to Florida, Trump was asked about the possibility of discussing tariff reductions with countries like the UK. He said, "If we can get something out of this deal, that's possible - but you know, we have been taken advantage of for 40 years, or even longer. That's not going to happen anymore. But yes, I would certainly be open to that.

🔹️When asked if these discussions would take place before the tariff announcement on April 2, he replied: "No. They are more likely to happen later." Trump also reiterated plans to announce tariffs on drugs but declined to reveal specific rates.

🔴The Federal Reserve is likely to hold interest rates in May

🔹️Data from CME's 'FedWatch' tool indicates an 18.5% chance that the Federal Reserve will cut interest rates by 25 basis points in May, while there is an 81.5% chance that rates will remain unchanged.

🔴Solana's address count reaches an all-time high

🔹️A blockchain analyst reported on X that the number of addresses on the Solana network has jumped to about 11.12 million, marking a new record.

🔴The Securities and Exchange Commission Engages in Discussions on Cryptocurrency Regulation Solutions

🔹️ The U.S. Securities and Exchange Commission (SEC) announced that the cryptocurrency task force met with representatives from Wintermute Trading Ltd. and Morrison Cohen LLP on March 28.

🔹️ The meeting focused on addressing regulatory issues related to cryptocurrency assets. Representatives from Wintermute Trading Ltd. and Morrison Cohen LLP provided accompanying documents that were discussed during the session. Wintermute specifically addressed challenges related to trading and providing liquidity in the U.S. cryptocurrency market.

🔴 Ted Cruz Proposes Bill to Ban Federal Reserve from Issuing Digital Currency

🔹️ U.S. Senator Ted Cruz introduced a bill aimed at prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC). This legislative move by the Republican senator from Texas is seen as a companion to a similar bill against the CBDC reintroduced by Republican Representative Tom Emmer from Minnesota on March 6. Companion bills are legislative proposals that are similar or identical in text and are introduced in the other chamber of Congress.

🔴 The Securities and Exchange Commission welcomes government efficiency officials.

🔹️ An internal email from staff reveals that the U.S. Securities and Exchange Commission (SEC) has begun integrating officials from the Government Efficiency Division. This move is seen as part of the SEC's efforts to enhance its operational effectiveness and streamline processes.

🔴 The United Arab Emirates to launch a blockchain-based digital dirham by late 2025

🔹️The Governor of the Central Bank of the United Arab Emirates (CBUAE), Khalid Mohammed Balama, announced that the blockchain-based central bank currency (CBDC), the digital dirham, is expected to be launched in the fourth quarter of 2025.

🔹️This digital currency aims to enhance financial stability and combat financial crime. Additionally, the digital dirham will be accepted across all payment channels, similar to physical currency. Balama indicated that the digital dirham will contribute to the development of innovative digital products, services, and new business models, while reducing costs and increasing opportunities to access international markets.

🔴 Trump's Tariff Announcement Raises Market Concerns

🔹️ U.S. President Donald Trump announced a 25% tariff on all cars not manufactured in the United States.

🔹️ He warned that if Canada or the European Union retaliates, they will face harsher tariffs. This stance has heightened market fears of an escalation in the trade war, overshadowing better-than-expected GDP data.