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Hong Kong to eliminate capital gains tax on $BITCOIN and crypto for hedge funds and family offices in bid to become global crypto hub - Financial Times
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New signal added in our premium channel
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Switzerland's Canton of Bern votes to explore $BITCOIN mining for energy grid efficiency.
The Canton of Bern in Switzerland has approved a proposal to investigate $BITCOIN mining as a strategic solution for energy waste and grid stabilization, reflecting a significant shift in the perception of the cryptocurrency. This initiative, supported by both progressive and traditionally conservative politicians, emphasizes the economic benefits of $BITCOIN mining, including job creation and investments in renewable energy. A feasibility study will assess energy availability, environmental impacts, and regulatory frameworks to guide the prospective development of $BITCOIN mining in the region.
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๐ NOVEMBER 2ND WEEK - 2024
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Hong Kong announces No Crypto Tax for hedge funds and family offices to strengthen its position as a global crypto hub.
๐ฆ Hong Kong's Financial Services and Treasury Bureau proposed waiving capital gains tax on cryptocurrency investments to attract hedge funds and family offices.๐ฆ The tax exemption aims to broaden beyond traditional assets to cover virtual assets, overseas properties, carbon credits, and private credits.๐ฆ The government recognizes taxation as a crucial factor for wealth managers when choosing operational locations, thus promoting a favorable business environment.๐ฆ Hong Kong has positioned itself as Asia's largest hedge fund hub and ranks second globally in private equity fund capital.๐ฆ The region is home to over 2,700 single-family offices, many managing assets over $50 million, highlighting the significance of attracting these players.๐ฆ Hong Kong's crypto-friendly approach includes recent developments such as the launch of a retail cryptocurrency trading service by ZA Bank in partnership with HashKey Exchange.๐ฆ The proposed tax exemptions align with a positive market trend in the cryptocurrency sector, with $BITCOIN experiencing gains and a bullish outlook.
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Cardano founder Charles Hoskinson predicts $BITCOIN could reach $500,000 in two years, driven by DeFi growth and increased government adoption.
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Altcoins to stay choppy until bitcoin hits "exuberant moveโ - Analyst
โWeโre really waiting to see that exuberant move, and then weโll look at that rotation of capital,โ noted Swyftx lead analyst Pav Hundal.
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The Open Network (TON) has launched the TON Teleport BTC cross-chain bridge, enabling $BITCOIN transfers to and from the blockchain as tgBTC in Telegram.
Deposits and withdrawals are fully autonomous, without third-party intermediaries.
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New signal added in our premium channel
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Europeโs Coinbase users frustrated as MiCA forces sunset of USDC yield.
Some Coinbase users are airing frustration at the regionโs MiCA laws, which is forcing the exchange to stop offering yield on USDC in the European Economic Area.
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๐ #DYDX/USDT (LONG)
Crypto name :: #DYDX
Yesterdayโs premium signal
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