Category: Market Insights

Japan’s FSA to Reclassify Crypto in Upcoming Rule Review

Japan’s Regulatory Shift on Cryptocurrency.

Japan is preparing for a different approach to digital assets as Japan’s Financial Services Agency (FSA) is reviewing its current cryptocurrency regulations. This review conducted by Japan could lower taxes on crypto and enable local funds to invest in the digital market. This possibility shows the growing role of blockchains, particularly cryptocurrencies as an investment tool. The review of the newer technological sector by Japan shows its effort to adapt to ever ever-evolving crypto landscape. A whole nation contributing to a program dedicated to a blockchain element suggests its vast significance.

Japan’s Financial Services Agency (FSA) reviewing current crypto regulations.

Reclassifying Crypto for Stronger Investor Protections

The FSA’s review will mainly focus on the ability of current regulations to provide necessary protection for investors, as cryptocurrencies are now more commonly used for investment rather than payment. If cryptocurrency is seen as an investment token, FSA might reclassify Crypto as a Financial Instrument under Japan’s Investment Law. This might sound terrible to some but this does provide better legal protection for investors and lower tax on crypto gains, which currently is up to 55%. If the review is to go as predicted the new rate could slide down to 20%, which would make it comparable to other investments like stocks.

A Push Toward Crypto-Friendly Reforms

The sudden news of the review on crypto regulation shows Japan acknowledging Cryptocurrency as well as Blockchain technology to be an important factor for the future development of a nation. Japan is encouraging capital investments in digital assets as well as taking steps to nurture its blockchain ecosystem. This reclassification of regulation shows Japan’s positive attitude towards Cryptocurrency. If the reformation is successful then it might turn Japan into a crypto-friendly market.

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

Avalanche Launches $40M Grant to Support Layer-1 Developers

Retro9000: Avalanche Launches $40M Grant to Boost Layer-1 Development and Ecosystem Growth

Avalanche’s $40M Developer Grant Program

Avalanche has announced a $40 million grant program called Retro9000, which aims to motivate, inspire, and encourage all aspiring L1 developers. The start of this project by Avalanche is for the enhancement of their already established blockchain ecosystem, particularly for the Layer-1 chain.

Retro9000 Program and Ecosystem Growth

The Retro9000 grant program will reward developers who contribute to improving Avalanche’s blockchain ecosystem. The developers should also contribute by building on the Layer-1 chain. Retro9000 was introduced to make project launching easier and lower Blockchain deployment costs. Retro9000 itself is part of a broader Avalanche9000 upgrade, which enables more developers to participate. Additionally, Avalanche’s DeFi ecosystem continues to benefit from partnerships with platforms like Aave, Benqi Finance, and others.

Encouraging Open Development and Ecosystem Expansion

Retro9000 allows developers to build publicly encouraging community support. This allows any new project to gain community support which helps to test the project before launch. With programs such as Retro9000 and Avalanche9000, new opportunities are created for both the developers and the users to engage and earn rewards.

Morocco turns on AI

Morocco’s going all in on AI and blockchain with their $1.1 billion Digital Morocco 2030 plan to become a global tech hub. The goal is to level up public services, boost the economy, and create 240,000 digital jobs by 2030. They’re using AI to streamline government stuff and blockchain to secure things like healthcare and education. Plus, they’re pushing for 5G, backing 3,000 startups, and attracting global tech companies to build a strong digital ecosystem. Morocco is aiming to make big moves in the digital world and rake in $4.15 billion from tech exports

Morocco is all set on transforming the country into a global digital hub as part of its ambitious Digital Morocco 2030 strategy. The initiative was announced on Sept. 25 and launched with a $1.1 billion budget. Its main concern is to integrate advanced technologies to boost public services, drive economic growth, and create 240,000 new jobs in the digital sector in 2030. 

Additionally, the strategy aims to support the development of new AI-driven startups and blockchain-based platforms, which will set Morocco as a major player in the global digital economy.

AI and blockchain will play a crucial role in making government services more efficient and transparent. A central piece of this is the Unified Administrative Services Portal, which will use blockchain to securely manage things like healthcare, education, and social welfare. Meanwhile, AI will help speed up service delivery by analyzing and processing data in real-time, making everything smoother and more responsive.

Ghita Mezzour, the Minister of Digital Transaction has highlighted how the strategy of Moroccans aims to fully embrace these digital technologies while growing the digital economy. Morocco is shooting for a massive leap in its United Nations Online Services Index ranking, aiming to jump from 100th to 50th place.

The plan also has ambitious financial goals. The government is aiming for 40 billion dirhams ($4.15 billion) in digital export revenues and a contribution of 100 billion dirhams ($10.36 billion) to the country’s GDP. They’re also planning to expand 5G coverage to 70% of the country and foster the growth of 3,000 new startups.

With all of the investments and plans mentioned above, Morocco hopes to generate hundreds and thousands of jobs while positioning itself among the top players in the AI and blockchain sectors on the international stage.

Net Inflow of $321 million in Crypto Funds After Fed Rate Cut

Summary [ Gen-Z ]:

The Fed cut rates, making money cheaper, and it's flowing into crypto. Last week alone, $321M came in, with Bitcoin taking the lead while ETH, BNB, and ADA were in the red. Interestingly, $5.1M was used to bet against Bitcoin (Short Bitcoin). 

With the Fed's 50 bps rate cut, more cash might hit the market, but it's also a red flag that the economy needs a boost to stay afloat.

With the decision of Fed rate cut, new money is flowing into crypto. Last week’s inflow hit a record of $321 million.

cointelegraph 64e550512094b d8b3446fbd5a3323be8bd810e0a0909a resized Bitmala

Based on data released by CoinShares, Bitcoin led the inflow of money while Ethereum, BNB, and Cardano remained negative. Meanwhile, $5.1m inflow went for “Short Bitcoin”.

After the decision of 50 bps rate cut by the Fed, the impacts can be deeper. Cheaper money might enter the market but this also signals a weaker economy that needs artificial boosting.

If you liked this article, please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

Michael Saylor Ramps Up Bitcoin Buys At $1.01 Billion

Sep 20, 2023

Today Michael Saylor announced on his Twitter about the completion of the $1.01 Billion upsized convertible notes offering.

Following the rate cut decision by the Fed, Bitcoin is starting an uptrend reaching $64k earlier this morning. On top, Michael Saylor is using this strategy of buying billions of USD worth of Bitcoin.
Screenshot 2024 09 20 at 10.00.27 AM Bitmala

MicroStrategy is already holding more than 250k BTC and is still aggressively buying more. Bitcoin community and the whole crypto community are excited about this calling Michael Salyor the biggest Bitcoin degen.

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

Ready For Bitcoin’s Big Dump If No Rate Cut?

Almost everyone will be keeping an eye on tomorrow’s Fed Meeting. US interest rate has never seen a rate cut for 4 years since COVID-19. Now, everyone is expecting a rate-cut decision tomorrow. The debate is – will it be 25 bps or 50 bps?

What if there occurs no rate cut?

  • If no rate cut, both crypto and stock markets will go into panic mode.
  • Risky and volatile assets like Bitcoin and crypto are highly affected.

Chances: Almost 0%

fed rate cut Bitmala

What if there occurs a rate cut?

  • Cheaper money comes into the market
  • Money printer starts again
  • People will invest more in risky and volatile assets like $BTC

Is this news already priced in?

  • Simple answer: Yes.
  • Longer answer: Yes, 25 bps rate cut has been priced in; but If it is a 50 bps rate cut, we might witness a bigger pump in $BTC price.

If you liked this article, then please subscribe to our YouTube Channel for web3 video tutorials. You can also find us on Twitter and Instagram.

What If DOGS Could Reach DOGE’s Market Cap?

Currently, $DOGS is priced at $0.0009522 with a market cap of $492,025,270. If DOGS were to reach DOGE’s market cap of $13,840,681,061, its price could rise significantly.

Here’s a breakdown:

MetricDOGSDOGE
Price$0.0009522$0.09488
Market Cap$492,025,270$13,840,681,061
24-hour Volume$402,958,897$372,556,095
Circulating Supply516,750,000,000 DOGS145,873,466,384 DOGE
Total Supply550,000,000,000 DOGS145,873,466,384 DOGE
Maximum Supply550,000,000,000 DOGSUnlimited
Fully Diluted Market Cap$523,663,249$13,839,877,082

Price Calculation: $DOGS VS $DOGE

If DOGS were to achieve the same market cap as DOGE, its price would be approximately $0.0268. Here’s how this is calculated:

price calculation Bitmala

This projection shows that DOGS could potentially increase in value if it matched DOGE’s market cap, highlighting the substantial growth potential.

Exit mobile version