The Hong Kong government is preparing to exempt private investment firms, hedge funds, and family offices from taxes on income earned through cryptocurrency transactions.
According to the state comptroller, Israel is losing substantial revenue due to an ineffective tax system for cryptocurrency transactions. Between 2018 and 2022, the country could have collected an additional $250 million annually by taxing digital asset users.
Circle has updated its terms for instant USDC cash-outs on the Circle Mint platform, raising fees and lowering the threshold for fee-free transactions. Now, daily redemptions exceeding $2 million incur a 0.03% fee, while amounts over $15 million are subject to a 0.1% fee.
Ethereum founder Vitalik Buterin published the 4th part of his vision for the possible futures of the blockchain. Recently, he outlined an ambitious goal of achieving 100,000 transactions per second for Ethereum, alongside L2 networks.
Paxos, a fintech company focused on building blockchain and digital asset infrastructure, has launched a new platform designed for stablecoin transactions.
A recent report from Kaiko reveals that Crypto․com has become the market leader in the U.S. for platforms supporting USD transactions. With over 50% of market share in weekly trading volume, the platform has outpaced Coinbase nearly three times over.
A growing number of Ethereum users are turning to private transactions, which now make up approximately 30% of all activities on the blockchain. The gas consumption for these private operations has surged to 50% of the total network usage. This trend is driven by the desire to avoid MEV trading bots, which capture transactions for rapid profit.
UBS, the prominent Swiss bank, has revealed a successful pilot project for UBS Digital Cash, a blockchain-powered multicurrency payment solution aimed at improving cross-border transactions.
Starknet, an Ethereum Layer 2 network, set a new TPS (transactions per second) record.
On October 22, 2024, Chainlink, the decentralized oracle platform, introduced CCIP Private Transactions—a solution designed to help corporations integrate their private blockchain networks with existing systems, such as corporate backends.
The native USDC stablecoin is now live on the Sui Network. This means developers and users can make transactions with it without any bridging.
The global payment system Swift is set to start testing digital asset transactions via its network in 2025. Having experimented with blockchain technology for a while, Swift is now preparing to conduct trials with banks. The initial tests are planned for Europe, North America, and Asia.
