Dear PointPay Family,
A week of events and changes has passed, and we’ve rounded up the top-5 crypto stories to keep you updated! From market trends to game-changing innovations, don’t miss out on the highlights. Stay informed with our weekly selection.
Italy Rethinks Crypto Tax Hike Amid Pushback
The Italian government has decided to scale back its proposed 42% tax on crypto capital gains following intense lobbying and political dissent. Lawmakers argue the steep hike could drive activities underground, harming investors and the economy. Instead, the tax increase may be capped at 28%, or the current 26% rate could remain. Officials emphasized a fair approach to cryptocurrencies while balancing socio-economic goals.
Bitcoin Poised to Replace Gold as Top Value Asset
Bitcoin has surged past $100,000, reinforcing its potential to surpass gold as the premier store of value, according to Bernstein. Analysts predict Bitcoin could hit $200,000 by 2025, becoming a cornerstone of institutional investments and corporate treasuries. The milestone signals growing acceptance among Wall Street and the global economy.
Vancouver Explores Bitcoin as Reserve Asset
Vancouver's City Council has approved a motion to assess Bitcoin's role in municipal finances. Mayor Ken Sim supports adopting Bitcoin to shield against inflation, even pledging $10,000 in Bitcoin to the city. However, the proposal faces opposition due to regulatory barriers and volatility concerns, highlighting a clash of visions on embracing digital assets.
FDIC Urged Banks to Halt Crypto Activities
Newly revealed FDIC communications suggest the agency sought to limit U.S. banks' crypto involvement in 2022. The documents, unveiled by Coinbase, show banks were advised to pause crypto-related operations amid regulatory uncertainty. Critics liken this to "Operation Chokepoint 2.0," arguing it stifles legitimate crypto businesses and innovation.
BlackRock and Fidelity Invest $500M in Ethereum for ETFs
In a two-day spree, BlackRock and Fidelity acquired $500 million worth of Ethereum for their respective ETFs. Data from Arkham highlights continued inflows into Ethereum-focused funds, with iShares and Fidelity collectively managing $4.34 billion in ETH assets. The sector's positive trend continues as institutional interest drives growth.
🔥 Buy PXP tokens on MEXC: http://bit.ly/3UhCgZn
🔥 Buy PXP tokens on Bitrue: https://bit.ly/3JEreHu
🔥 Buy PXP tokens on WhiteBIT: https://bit.ly/3qJrjRH
💰 Earn up to 7% yearly with PXP staking
📲 Trade at PointPay with Telegram app (@PointPayTMA_bot)!
🏦 PointPay - all crypto services in one place!