Stay ahead in the crypto world with this week's top updates! From Michael Saylor's bold Bitcoin proposal to Ripple's expansion in Dubai, here’s everything shaping the market
Michael Saylor suggests that the US government should accumulate 5-25% of Bitcoin’s total supply by 2035 as part of a Strategic Bitcoin Reserve. Speaking at the White House Crypto Summit, he emphasized a “Never sell your Bitcoin” approach.
Saylor predicts that by 2045, this reserve could generate over $10 trillion annually, helping to reduce national debt. Meanwhile, Donald Trump signed an order to create a Strategic Bitcoin Reserve and Digital Asset Stockpile, initially funded by seized crypto.
This plan is far more ambitious than Senator Cynthia Lummis' earlier proposal for the US to hold 5% of BTC supply. Saylor’s company, Strategy, recently bought another $2 billion worth of Bitcoin, bringing its total holdings to nearly 500,000 BTC.
Japan has reduced the tax on Bitcoin and other cryptocurrency gains from 55% to a flat 20% under new regulations. This reform aims to encourage crypto investment and make Japan more attractive for digital asset investors.
Previously, crypto gains were taxed at a progressive rate, discouraging investment and pushing businesses to move to lower-tax regions. With the new flat rate, digital assets are taxed similarly to stocks and forex trading, leveling the playing field.
Lowering crypto taxes is expected to boost investment, prevent capital outflows, and attract institutional investors and startups. This move aligns Japan with crypto-friendly countries like Singapore and Switzerland, strengthening its position in the global market.
By implementing this tax cut, Japan aims to foster innovation, increase adoption, and establish itself as a leading hub for blockchain and digital assets.
Thailand’s Securities and Exchange Commission (SEC) has officially approved Tether (USDT) and Circle (USDC) for cryptocurrency trading. This allows these stablecoins to be listed on regulated exchanges across the country, making it easier for users to trade and transact in digital assets.
Previously, Thailand had only approved Bitcoin (BTC), Ethereum (ETH), XRP, and Stellar (XLM) for trading. The latest decision is part of the country’s effort to boost crypto adoption and integrate digital assets into the financial system. The move follows increasing calls for stablecoin legalization to enhance financial transactions and revenue generation.
Stablecoins like USDT and USDC offer fast, secure, and low-cost transactions, making them popular for remittances and cross-border payments. According to market data, stablecoins now hold a $230 billion market cap, with Tether’s USDT dominating over 63% of the total supply.
With Thailand embracing stablecoins, the country is moving closer to wider crypto adoption, creating more opportunities for businesses and investors.
The Sui Foundation has partnered with Blockaid to improve security in the Sui blockchain ecosystem. This collaboration will enhance the protection of Sui wallets, monitor smart contract performance, and ensure safe transactions for users.
Launched in May 2023, Sui is a Layer-1 blockchain known for its high-speed transactions and scalability. It uses the Move programming language, which helps prevent many common blockchain vulnerabilities. However, additional security measures are being implemented to strengthen the ecosystem further.
Blockaid, a leading cybersecurity firm, provides advanced security solutions for Web3 platforms. It works with major blockchain networks like Stellar, Avalanche, and Coinbase. With its expertise, Sui aims to enhance the reliability and efficiency of its network, ensuring seamless operations for users and developers.
This partnership highlights Sui’s commitment to security by continuously improving its technology and providing a safe environment for blockchain transactions and applications.
Ripple has secured full approval from the Dubai Financial Services Authority (DFSA) to offer crypto payment services in the UAE. With this license, Ripple can now operate in the Dubai International Financial Center (DIFC), a free economic zone with its regulatory framework.
This approval allows Ripple to provide blockchain-based payment solutions to businesses across the UAE. The company aims to help financial institutions integrate digital assets into their operations, leveraging the country’s supportive regulatory environment.
Ripple has seen increasing demand for cross-border payments in the Middle East, from both crypto-native firms and traditional financial institutions. The company is also working with the UAE Central Bank to comply with upcoming stablecoin regulations.
With this license, Ripple becomes the first blockchain-powered payment provider in DIFC. This move strengthens its presence in the UAE and the broader MENA region, creating new opportunities for crypto adoption.
