EIP-4844 It’s Forward-Looking US Proposes New Cryptocurrency Tax Rules

Headlines

▌Vitalik Buterin: One benefit of EIP-4844 is that it is forward-looking

Ethereum co-founder Vitalik Buterin said on Warpcast that one of EIP-4844 The benefit is that it's future-proof: 1. To get us from where we are today to full 16 MB danksharding, the only consensus changes needed are parameter changes; 2. point eval precompilation returns modulo, allowing rollups to be built to work with modulo's Forward compatible with future changes.

▌The U.S. Treasury Department once again proposed new cryptocurrency tax rules

The U.S. Treasury Department has once again proposed a raft of tax rules related to digital assets, including a ban on wash trading and a consumption tax on miners' electricity costs, according to U.S. President Joe Biden's plan. The Treasury Department on Monday released its 2025 revenue proposals, known as the "Green Paper," outlining the tax proposals in Biden's budget released on Monday. These cryptocurrency-related proposals are largely the U.S. president's 2023 proposal. The request was repeated, but the proposal never became law.

Quotes

As of press time, according to coinmarketcap The data shows:

BTC's recent transaction price was US$72,481.0, with intraday increases and decreases< strong>+5.81%;

ETH’s recent transaction price was US$4,065.55, intraday increase or decrease< span style="color: rgb(0, 176, 80);">+6.22%;

BNB’s recent transaction price was US$520.87, with an intraday increase or decrease-0.19% strong>;

ORDI’s recent transaction price was US$76.80, with intraday gains and losses+2.23%;

DOGE’s latest transaction price was US$0.1769, intraday Increase or decrease+6.30%;

SOL's recent transaction price was US$147.70, with intraday changes+4.23%.

Policy

< strong>▌The National Tax Service of Korea will establish a comprehensive management system for virtual assets

The National Tax Service of Korea plans to build virtual assets Integrated management system to prevent users from using virtual assets to evade taxes and achieve fair taxation. The National Tax Service selected GTIC as the lead company for the virtual asset comprehensive management system project at the end of February and started a consultation period of about four months. The system is designed to effectively analyze and manage information collected through the mandatory submission of virtual asset transaction history records and distribute system construction proposals based on consultation results. It is planned to be launched in 2025.

Blockchain Application

▌Ethena Labs: Received investment from Avon Ventures, a fund under the parent company of Fidelity Investments

USDe developer Ethena Labs in The X platform issued a statement stating that it has received investment from Avon Ventures, a venture fund under FMR LLC, the parent company of Fidelity Investments.

Cryptocurrency

U.S. cryptocurrency exchange Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission, accusing the agency of acting arbitrary and capricious and refusing to establish rules to clarify oversight of the industry. The case, which comes in response to the SEC’s rejection of the company’s request for a formal rulemaking, once again raises important questions for the court about the future of cryptocurrency regulation. Lawyers for Coinbase believe the securities regulator’s actions are arbitrary and capricious by asserting authority over crypto assets while refusing to enact new regulations on how to handle those assets. The company argued in its opening brief in the lawsuit that the agency oversees digital assets through enforcement actions. Coinbase had requested clear rules for digital assets, but the agency rejected the petition in December.

▌Kaiko: During Bitcoin’s current rise, about 1,500 “million-dollar wallets” were born every day

Cryptocurrency analysis company Kaiko Research pointed out that during Bitcoin’s current record-breaking rally, approximately 1,500 new “cryptocurrencies” seemed to be born every day. Million Dollar Wallet”. These wallets are digital addresses on the Bitcoin blockchain where users store cryptocurrency. Since the network is open to the outside world and is not controlled by any centralized intermediary, data such as the number of tokens held by each wallet is available to the outside world. Since the launch of the U.S. Bitcoin ETF in January this year, demand has been extremely strong, and the price of Bitcoin has soared by approximately 70% so far this year. Even so, the current number of million-dollar wallets added daily is still lower than the previous bull run in 2021, when more than 4,000 wallets crossed the million-dollar threshold every day. This year, the day with the highest number was March 1, with 1,691 wallets.

▌Trump: If re-elected as president, he will not crack down on Bitcoin or other cryptocurrencies through regulatory agencies Use

Former US President Donald Trump said in an interview with CNBC that his administration would not pass regulations if re-elected Institutions crack down on the use of Bitcoin or other cryptocurrencies. Bitcoin is already widely used. Trump said he noticed that many of the recently launched Trump-branded sneakers were paid for in cryptocurrency. When asked if he had purchased Bitcoin, Trump said he did not own any but sometimes asked people to pay via Bitcoin.

Important Economic Updates

▌U.S. stocks opened, cryptocurrency-related stocks generally rose

U.S. stocks opened, the three major stock indexes opened lower, and the Dow opened lower It fell 0.14%, the S&P 500 opened down 0.28%, and the Nasdaq opened down 0.16%. Bitcoin exceeded $72,000, and cryptocurrency-related stocks generally rose. Coinbase (COIN.O) rose 5.1%, MicroStrategy (MSTR.O) rose 7.3%, and Marathon Digital (MARA.O) rose 5%.

▌The probability that the Federal Reserve will keep interest rates unchanged in March is 97%

According to CME's "Fed Watch", the probability that the Federal Reserve will keep interest rates unchanged in the range of 5.25%-5.50% in March is 97.0%, and the probability of cutting interest rates by 25 basis points is 3.0%. The probability of keeping interest rates unchanged by May is 81.8%, the probability of a cumulative 25 basis point interest rate cut is 17.7%, and the probability of a cumulative 50 basis point interest rate cut is 0.5%.

Golden Encyclopedia

▌What determines the price of Bitcoin?

Market forces of supply and demand affect the price of Bitcoin. When there are more sellers, prices usually go down and vice versa. Bitcoin prices are also affected by factors such as media reports, investor sentiment, and regulatory news, leading to rapid price fluctuations. Supply and demand market dynamics that affect the prices of other goods and services also determine the price of Bitcoin.  

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.