Is Tax Coming?
The title of the article is "Is Tax Coming?" and it discusses the ongoing developments in the regulation of cryptocurrencies globally in the year 2024. The focus is on Turkey's proposed cryptocurrency law, with recent meetings between government officials, bank executives, and cryptocurrency exchange leaders. The article mentions a critical meeting where information was gathered, leading to a potentially positive outcome, although the details are not guaranteed.
The article then provides additional information on various topics related to cryptocurrencies:
- BlackRock and Fidelity are leading the race in the ETF (Exchange-Traded Fund) competition, with the amount of Bitcoin accumulated in their respective ETFs mentioned.
- Venezuela's official cryptocurrency, Petro, which was launched with high hopes six years ago, has been terminated.
- Grayscale's wallets sent 48,000 BTC to Coinbase over the week, and it is speculated that these transactions were made for selling purposes.
- Donald Trump, who is running for the U.S. presidency, stated that he would never allow the creation of a central bank digital currency (CBDC).
- The U.S. Securities and Exchange Commission (SEC) delayed the decision on Fidelity's spot Ethereum ETF application, with the next expected decision date being March 8, 2024.
The article also briefly mentions on-chain notes, highlighting significant changes in the assets of spot Bitcoin ETFs and the impact of leading ETFs on Grayscale's GBTC. The author emphasizes the importance of monitoring how these ratios develop and where institutional demand consolidates as things progress.
