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Bitcoin News
Bitcoinist
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Image Credit: Bitcoinist
Crypto Game-Changer: Denmark To Introduce 1st Ever Unrealized Gains Tax
- Denmark is set to introduce a taxation policy targeting the unrealized capital gains of cryptocurrencies, such as Bitcoin.
- Starting from 2026, tax authorities in Denmark will collect a 42% tax on cryptocurrencies' unrealized gains, treating them as investment assets.
- The Danish government aims to align the taxation of cryptocurrencies with other types of investments and existing financial taxation.
- Other countries, such as Italy and Germany, are also exploring tax frameworks for cryptocurrencies.
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Newsbtc
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Image Credit: Newsbtc
Goatseus Maximus (GOAT) Enters Crypto’s Top-100: Time To Buy Or Sell?
- Goatseus Maximus (GOAT) has surged into the top 100 cryptocurrencies, currently ranked #81.
- The memecoin has seen a 27% increase in the last 24 hours and a 174% gain over the past week.
- OKX and Binance have announced plans to list GOAT futures and perpetual contracts, respectively.
- The origins of GOAT trace back to AI conversations and the project gained attention after a major Bitcoin donation.
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Bitcoinist
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Image Credit: Bitcoinist
Pennsylvania House Passes ‘Bitcoin Rights’ Bill With Bipartisan Support
- The Pennsylvania House of Representatives has passed the 'Bitcoin Rights' bill with overwhelming bipartisan support.
- The bill aims to protect individuals' rights to self-custody their digital assets, use Bitcoin for payments, and establish guidelines for Bitcoin taxation.
- The bill will advance to the Pennsylvania Senate and then to Governor Josh Shapiro for final approval.
- The bill is part of a broader trend where state legislatures across the US are creating regulatory frameworks for the cryptocurrency industry.
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Coinjournal
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289
Image Credit: Coinjournal
Pennsylvania House passes bipartisan Bitcoin bill
- Pennsylvania House of Representatives has passed 'The Bitcoin Rights Bill' with a bipartisan majority of 176 to 26.
- The bill aims to provide regulatory clarity to the digital assets industry, including self-custody, payments, and taxation.
- The bill received bipartisan support from both Democrats and Republicans in the House.
- The next stage involves debate and voting in the Pennsylvania Senate and, if passed, will be sent to Gov. Josh Shapiro.
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TronWeekly
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57
Image Credit: TronWeekly
Bitcoin Surges to $69K, 6.8% Below ATH: Signs of a New Bullish Phase
- Bitcoin price nears $69K, just 6.8% below its all-time high.
- Key technical levels indicate positive momentum in the market.
- Institutional interest is rising, with futures contracts hitting new highs.
- Net inflows into Bitcoin have significantly increased by over $21.8 billion in the last 30 days.
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Coin Telegraph
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US gov’t cites ex-FTX exec’s ‘exemplary cooperation’ before sentencing
- Former FTX engineering director Nishad Singh, who pleaded guilty and cooperated with authorities, provided 'substantial assistance' to the United States government.
- Prosecutors asked Judge Lewis Kaplan to consider Singh’s cooperation in the prosecution of former FTX CEO Sam 'SBF' Bankman-Fried and former FTX Digital Markets co-CEO Ryan Salame.
- Singh's testimony helped the jury understand how FTX's code permitted the illegal use of customers' funds and identified the transactions by Bankman-Fried involving stolen money.
- Singh is scheduled for sentencing on October 30 after pleading guilty to fraud and conspiracy charges in 2023.
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Cryptopotato
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408
Image Credit: Cryptopotato
Bitcoin Poised for Short-Term Rally as Coinbase Premium Signals Bullish Momentum
- Bitcoin's short-term uptrend potential is indicated by the Coinbase Premium Index.
- Historical data shows that the crossover of daily and weekly moving averages often triggers short-term price increases.
- Negative Kimchi Premium in South Korea suggests a potential upcoming rally for Bitcoin.
- BTC is experiencing increased retail on-chain activity, indicating renewed interest from smaller investors.
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Bitcoinchaser
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Gory & Gruesome Giveaways Await at BetUS!
- BetUS is offering a special Gory and Gruesome Giveaways promotion for the Halloween season.
- Sports fans can get deposit bonuses up to 200% and free plays up to $2,000.
- Casino game players can grab up to $1,000 in casino chips, 100 free spins, and entries into weekly tournaments.
- Daily offers are available with different bonuses and prizes, and participants should act fast as the offers expire quickly.
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Bitcoinist
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Image Credit: Bitcoinist
Will Norway Go Digital? Central Bank To Decide On CBDC Next Year
- Norway's central bank, Norges Bank, to decide on establishing its own CBDC next year.
- Norges Bank is currently developing two possible models for CBDC: retail CBDC for consumers and wholesale CBDC for transactions between banks.
- Norway is already a cashless society with 98% of the population using debit cards and over 95% relying on mobile payment platforms.
- Norges Bank aims to give its recommendation on CBDC by 2025 after completing studies and consultations.
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Altcoinbuzz
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Tether Proposes Boron-Backed Tokens to Turkey
- Tether proposes creating digital tokens backed by boron, a mineral abundant in Turkey.
- Turkey, with significant boron reserves, is considering Tether's proposal.
- Tether suggests using blockchain technology to link the boron-backed tokens.
- Tether also raised the idea of setting up a digital asset exchange in Istanbul.
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Bitcoinsensus
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285
Image Credit: Bitcoinsensus
Ripple’s Garlinghouse Admits to Mistakes with U.S. Regulators
- Ripple CEO Brad Garlinghouse admits the company should have engaged with U.S. regulators earlier.
- Ripple is currently fighting legal battles with the SEC over the sale of XRP as an unregistered security.
- Garlinghouse criticizes U.S. crypto regulation, calling it lagging behind other countries.
- Ripple and the crypto industry need to catch up and engage with regulators to avoid regulatory uncertainty.
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Bravenewcoin
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412
Image Credit: Bravenewcoin
Bitcoin Has Eyes On $80K Despite Election Outcome
- Blockchain experts forecast that Bitcoin could reach new highs of $80K, despite the results of the US Presidential election.
- Matthew Sigel, a head of Digital Assets Research, thinks Bitcoin will benefit from US debt downgrades and fiscal policies. On the other hand, James Butterfill, Head of Research at CoinShares, argues that a Trump presidency could weaken the US dollar due to protectionist trade policies and inflationary moves.
- While longer-term crypto options traders anticipate Bitcoin to hit fresh highs, shorter-term options are reflected in the $75,000 strike price, with open interests for $80,000 strike level, signalling growing optimism among traders.
- Bitcoin could reach $200,000 by the end of 2025 as it moves into what analysts are calling "a new institutional era", according to a report from Bernstein Research.
- Paul Tudor Jones, the founder of Tudor Investment Corporation, expressed his preference for assets that can weather inflationary pressures.
- Many believe that Bitcoin's next bull run could see it reach unprecedented heights, by gaining more institutional investors.
- As volatility on the rise as election day approaches, traders are increasingly betting on Bitcoin's upward trajectory and remain confident that it will soon break out of its current range.
- However, Bitcoin has faced short-term setbacks. In the past 24 hours, BTC slipped below $67,000, sparking a broad decline across major cryptocurrencies.
- The upcoming US presidential election and potential interest rate cuts by Federal Reserve has led to a perfect storm for Bitcoin to reach new highs.
- Crypto has gradually matured and is considered an emerging industry which breaks the mold of US politics by appealing to both Democrats and Republicans.
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Crypto-News-Flash
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Image Credit: Crypto-News-Flash
Is Bitcoin Set to Become a Currency by 2030? Factors Driving Its Maturity and Stability
- Bitcoin is predicted to be used as a currency by 2030, according to Ki Young Ju, the founder of Crypto Quant.
- Ju believes that as Bitcoin's mining difficulty increases and institutional interest grows, its volatility will decrease.
- He suggests that payment companies like Stripe will make it easier to use crypto for payments, starting with stablecoins.
- However, the transition to Bitcoin as a currency may face challenges, including the need for scalability and changing the narrative around BTC.
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TheNewsCrypto
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Image Credit: TheNewsCrypto
These Firsts of Bitcoin Since 2009 Are Worth Noting
- Bitcoin has had a transformative impact on the cryptocurrency industry since its inception.
- Important 'firsts' along the way have charted its course.
- Some of these achievements include the world's first on-chain transaction, the first commercial Bitcoin transaction (AKA Bitcoin Pizza Day), the world’s first Bitcoin ATM, the first Bitcoin exploit and the first Bitcoin exchange hack.
- El Salvador also recently became the first country to adopt Bitcoin as legal tender while Germany became the first to declare it as private money.
- China was the first country to ban banks from handling crypto transactions and entities from dealing with Bitcoin exchanges.
- These milestones demonstrate the evolution of Bitcoin and its growing influence in financial markets.
- Bitcoin has paved the way for other cryptocurrencies and has promoted the concept of decentralization.
- However, Bitcoin's volatile market history remains a challenge for regulators and traditional finance.
- The growth of the cryptocurrency industry continues to remain both exciting and uncertain.
- Only time will tell how Bitcoin and the industry as a whole will continue to develop.
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