Hey, Square community! We've gathered the hottest crypto news and regulatory changes from around the globe that are directly impacting the market. The main trend — institutional recognition is gaining momentum! 🚀
🇯🇵 Japan is slashing taxes on Bitcoin!
Japan is actively pushing legislation that reclassifies Bitcoin as a financial product. The major win for investors is the tax rate drop from a whopping 55% to just 20% (aligning crypto with regular stocks). This is a strong green light for institutions and a direct path to launching local crypto ETFs.
🇭🇺 Hungary on the path to decriminalization
According to Bloomberg, Hungary is making moves towards the decriminalization of Bitcoin and other cryptocurrencies. This is expected to boost regulatory transparency in the country and attract new players to the market.
🇺🇸 Strategic BTC reserve in the U.S.?
Senator Cynthia Lummis continues to pressure the government. She noted that establishing a Strategic Bitcoin Reserve in the U.S. carries minimal risks ('managed negative potential') while simultaneously opening up huge potential for future generations' wealth growth. Accumulating BTC at a national level is becoming increasingly realistic.
📈 BlackRock is racing to outpace Goldman Sachs
Giant BlackRock submitted a final amendment to the SEC for its new product, the iShares Bitcoin Premium Income ETF (BITA), with a fee of 0.65%. The goal is aggressive — to launch ahead of Goldman Sachs and be the first to scoop up institutional cream from a BTC product that generates profit.
💬 What do you think about taxes in Japan? Will this push other countries (including us) to lower rates? Share your thoughts in the comments! 👇