South Korea's digital asset tax postponed until 2027, Texas allocates $10 million to purchase Bitcoin.

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Crypto Assets market news today

Regulatory Dynamics

The South Korean National Policy Committee stated that the implementation of digital asset taxation has not yet been specifically discussed. The previously mentioned expansion of new economy taxation is merely a policy idea, not a finalized task. The digital asset taxation is expected to be postponed until 2027 due to insufficient infrastructure.

The Director of the Federal Housing Finance Agency in the United States, Pulte, stated that they will study the relationship between Crypto Assets holdings and mortgage eligibility.

Texas becomes the first state to establish a publicly funded Bitcoin reserve. Governor Greg Abbott signed a bill to allocate $10 million to purchase Bitcoin. The chairman of the Texas Blockchain Council stated that this sends an important signal recognizing the future of digital finance.

Institutional Dynamics

Ark Invest reduced its holdings in a certain payment company stock worth over 100 million dollars yesterday.

A certain grayscale trust is registered in Delaware.

A media group claims that the $400 million stock buyback plan will not affect its Bitcoin reserve strategy. The company stated that there are currently about $3 billion in funds on its balance sheet.

The fintech company Fiserv announced plans to launch the stablecoin FIUSD by the end of the year and collaborate with a payment company to achieve interoperability.

Market Viewpoint

A UK report predicts that the value of the Crypto Assets and Web3 economy could reach £40 billion by 2035. The application of stablecoins, user-generated content based on DLT, and the combination of blockchain and AI will be the main drivers of growth.

A survey by OMFIF shows that 70% of central banks are reluctant to invest in the US dollar due to the political environment in the United States, and 32% of central bank reserve managers plan to increase their allocation to gold within 1-2 years.

Members of the Legislative Council of Hong Kong suggest drawing on the EU's MiCA experience to continuously monitor market changes in order to timely adjust guidelines.

A former president called for interest rate cuts of at least 2 to 3 percentage points, stating that it would save the United States $800 billion each year.

Project Progress

A trading platform will launch the trading pairs of Newton(NEWT) with KRW, BTC, and USDT.

Ethereum developers proposed to halve the block interval time to 6 seconds, intending to include it in the Glamsterdam upgrade by the end of 2026.

Celestia co-founder stated that it has over $100 million in funds, sufficient to support operations for more than 6 years.

Market Data

NEWT surged 38.2% in a short time, currently priced at 0.408 USD.

A certain institution has purchased 3,704 ETH again, worth 8.91 million USD. In the past three weeks, a total of 161,112 ETH has been purchased.

The cryptocurrency holdings of Russians exceed $25.4 billion. Institutional investors continue to expand the scale of Bitcoin mining orders.

Financing Information

Canton Network developers completed a $135 million strategic financing.

The on-chain commodity derivatives exchange Sphinx has completed a $2 million Pre-seed funding round.

A former executive of a certain capital firm will establish the BNB Reserve Company and raise $100 million.

The newly established Crypto Assets venture capital fund Frachtis has completed a $20 million fundraising.

The DEX GTE based on MegaETH has completed a $15 million Series A financing.

Blueprint Finance raised $9.5 million in funding.

Institutional Holdings

Publicly listed company Vinanz Limited has increased its holdings by 37.72 coins of Bitcoin, bringing the total to 58.68 coins.

The Smarter Web Company increased its holdings by 196.9 coins of Bitcoin, bringing the total holdings to 543.52 coins.

The Hong Kong-listed company Yuxing Technology disclosed that it has sold 1,220 ETH in the past year.

Hong Kong's VMS Group has entered the encryption field for the first time, planning to allocate up to $10 million to Re7 Capital's strategy.

The Blockchain Group increased its holdings by 75 coins for approximately 6.9 million euros.

U.S. auto repair company ECD has secured $500 million in equity financing, which will be used to launch its Bitcoin treasury strategy.

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LowCapGemHuntervip
· 07-08 00:51
Texas is really on a roll this time.
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LiquidationSurvivorvip
· 07-06 07:09
The bull run is still far away, just wait slowly.
View OriginalReply0
DYORMastervip
· 07-06 07:06
Ha, Texas is really bold.
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GasFeeCrybabyvip
· 07-06 07:00
South Korea is so slow, BTC has already gone to da moon and they're still collecting taxes.
View OriginalReply0
AllInDaddyvip
· 07-06 06:57
This wave of hard resistance in Texas is something.
View OriginalReply0
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