【Heavy Interpretation】The White House Releases 168-Page Digital Asset Report! Is the U.S. Aiming to Become the Global Crypto Superpower?
Just now, the White House released a 168-page 'Digital Asset Policy Report', with the Trump administration fully committed to making the U.S. the 'Global Crypto Capital'! This report is packed with information, and we'll highlight the key points:
1️⃣ **New Tax Regulations: Overseas Crypto Accounts Must Be Declared**
The U.S. will require taxpayers to report overseas crypto asset accounts, similar to the existing 'Foreign Bank Account Report' (FBAR), to prevent capital flight and tax evasion, and to protect domestic exchanges.
2️⃣ **Stablecoins Become U.S. Strategy, CBDCs Completely Blocked**
The report strongly advocates for U.S. dollar stablecoins (such as USDC) as a 'new financial weapon', supporting cross-border payments and consolidating the dollar's hegemony. However, it explicitly opposes central bank digital currencies (CBDCs), arguing that they pose a threat to privacy and financial freedom.
3️⃣ Bitcoin Strategic Reserve Details Remain a Mystery
The government plans to establish a 'Bitcoin Reserve', including mainstream coins like BTC and ETH, but how this will be implemented and when it will start has not yet been announced; the market is still waiting for subsequent policies.
The report calls for expedited approval of crypto bank licenses, but DeFi (Decentralized Finance) is temporarily excluded from tax reporting due to its anonymity, which is considered a positive development for the industry.
Summary: This report marks a significant shift in U.S. crypto regulation, moving from observation to proactive engagement! The global crypto landscape may be reshuffled as a result. What do you think? Let's discuss in the comments!
Kazuo Inamori said: "No matter what the relationship is, if it can't provide emotional value, financial support, or positive companionship, and doesn't have any of these three, it is wise to give up." The top rules and truths of this society are never about talking about human feelings. The essence of any relationship is value exchange. The bottom line of business is value exchange. A product without underlying value does not need investment.
The most noteworthy currency information in December
$SNX : Inflation will turn off on December 17th, while the Synthetix Andromeda upgrade is coming soon. $FXS: Halving will happen on December 20th, FraxChain will launch next month, Frax’s BAMM (new DeFi primitive) is launching soon. $HFT: Announcing Hashflow 2.0 and its deployment on Solana. $Inj: Announced that Volan, its largest mainnet upgrade ever, will be released in a few weeks. $MATIC: Polygon will demo its next generation ZK product on December 14th. $Rune Alpha: A market testnet will be launched on the X platform for trading COOK and other Rune assets. COOK holders will have other incentives. $DOGE : The Space X “Doge-1” satellite has received regulatory approval and is expected to carry physical Dogecoin to the moon on December 23.
With big money paying attention, will the DEFI and NFT sectors see an explosion?
JPMorgan Chase (JPM) said in a research note on Thursday that sentiment in the cryptocurrency market improved as expectations for the approval of a U.S.-listed spot Bitcoin (BTC) exchange-traded fund (ETF), reported that Activity in decentralized finance (DeFi) and non-fungible tokens (NFTs) has seen a resurgence in recent months. The increase comes after nearly two years of decline, "so there is optimism that the worst may be behind us regarding the medium-term trajectory of DeFi/NFT activity," the report said. Analysts led by Nikolaos Panigirtzoglou wrote: "While we do not doubt that the recent resurgence in DeFi/NFT activity is a positive sign, we believe it is too early to get excited about it." DeFi is on the blockchain A general term for lending, trading and other financial activities. NFTs are digital assets on the blockchain that represent ownership of virtual or physical items that can be sold or traded. JPMorgan Chase said that given the increase in trading activity, some of which is executed on decentralized exchanges, some of the resurgence in DeFi is Expected. Lido’s liquidity tracking is also part of the reason.
As we all know, Bitcoin Inscription set off a trend, so how do we view the impact of Bitcoin ecology on the Bitcoin market trend in the future? Bitcoin's UTXO mechanism makes every smallest unit of Bitcoin (satoshi) traceable and non-fungible. Under the "stimulation" of this gene, standard protocols such as BRC-20, ORC20 and BRC21 were produced. , promoting the ecological development of Bitcoin NFT, BTC domain names and other areas. ERC20 and smart contracts are the core cornerstones of the Ethereum ecosystem. Based on this, developers in the Bitcoin community created the Ordinals protocol and the BRC-20 token protocol, promoting the development of the meme token and NFT ecosystem based on the Bitcoin network. In response to the "double spending" risk of BRC-20, the community launched an improved ORC20 protocol; since the Bitcoin network does not support smart contracts, considering the interoperability of assets, developers launched the BRC21 protocol - a cross-chain anchor for assets similar to WBTC Make an agreement. Since Bitcoin is not Turing complete and does not support smart contracts, it does not produce DeFi innovation effects similar to AMM. Therefore, the development of the Bitcoin ecosystem requires native innovation, thereby triggering a wealth effect. Therefore, by completely following the path of Ethereum, Bitcoin will not be saved. Only by relying on the ecological development of Bitcoin and mobilizing native innovation based on Bitcoin's own "gene" can the public chain of Bitcoin go further and further. Therefore, the Bitcoin ecosystem will surely explode into huge traffic wealth in 2024. We will wait and see!
Is Bitcoin's renewed surge a lure to buy or a way to accumulate strength?
Bitcoin prices rose somewhat today, once again reaching around $38,400 before falling back. This situation seems to be caused by new developments in ETFs. Bloomberg analyst James posted on Twitter that Franklin has submitted a revised Bitcoin spot ETF prospectus to the SEC, retaining the possibility of physical or cash redemptions. This means that all 12 Bitcoin spot ETF applicants have submitted revised prospectuses. At the same time, the SEC is publicly soliciting feedback on whether it should approve a Bitcoin spot ETF, and there are only two applicants involved, Franklin and Hashtags. The SEC wants to analyze whether the application complies with the rules of the national securities exchange, prevents fraud and manipulation, and protects investors and the public interest. Feedback needs to be submitted within 21 days, after which the rebuttal period will last two weeks. Perhaps stimulated by these two factors, Bitcoin started to rise from US$37,200 and is still maintaining elasticity. It seems that it will stabilize at US$38,000 in the future. A rare pattern has recently emerged in the CME Bitcoin and Ethereum futures markets, showing a strong preference among investors to go long or place leveraged bullish bets on the major cryptocurrency. The futures market is in contango, a term used to describe when futures prices are higher than spot prices and where forward futures are more expensive than futures near expiration. Increased buying pressure often results in premiums widening. Bitcoin and Ethereum futures have experienced the same situation recently, according to data tracked by K33 Research Institute. K33 analysts believe this indicates that sentiment in the CME market is very bullish, with people strongly wanting to add to long positions, leading to a surge in earnings expectations. Now let’s focus on current trends. Bitcoin futures trading appears to be attracting a large number of buyers, with a 5% to 10% chance of growth if the price of Bitcoin begins to rise significantly. It should be noted that after $38,000, the buying volume is not large, and the Bitcoin price may face certain limits. However, if a Bitcoin spot ETF is approved, not only the futures market but also the spot market will attract large inflows. It is worth mentioning that Arthur Hayes, a former Bitmex co-founder and now the company’s chief technology officer, pointed out an important factor: the Chinese government is discussing some incentives to stimulate the economy and attract more funds.These measures may lead to a large inflow of funds into the Chinese market, thereby driving up the price of Bitcoin. Therefore, it is inferred that the upward trend is gradually revealed. At which point are you ready to enter the market? Transfer some information to the Internet
Five Inevitable Factors for the Launch of the Bull Market in 2024
1. U.S. interest rate cuts: The continued U.S. interest rate hikes have had an increasingly serious impact on the global economy. An interest rate cut policy will inevitably be announced in 2024. Interest rate cuts mean increased global capital flows! 2. Traditional financial institutions enter the market: Financial institutions led by BlackRock have applied for Bitcoin ETF products, and a large amount of funds have entered the cryptocurrency track, starting a bull market! 3. Bitcoin production reduction: Bitcoin production reduction further reduces product circulation. Production reduction means a reduction in the output of miners. Mine owners must reach a consensus to increase mining profits! 4. Bitcoin Ecology: The Bitcoin inscription system has attracted market attention, and a large amount of currency circle traffic has entered the ecosystem, which will inevitably trigger a market craze for Bitcoin’s leading position! 5. RWA trend: The tokenization of real assets will inevitably allow more and more people to enter the digital asset track! So in 2024, there will be more money and more people, let’s welcome the prosperous age of wealth together!
ORDI enters the game strongly? We are bullish on more than 500U, do you agree?
How high can the ORDI currency rise? How big is the background of the promoter behind it?
This coin actually involves the interests of many people, and behind it is the support of all miners and major mine owners. Next year, BTC production will be reduced. If the miners' income is reduced by half while the price remains unchanged, if the price is not enough for the miners to start up, then the miners will directly choose to shut down the network. The Bitcoin chain will be finished. What to do? The chain must be allowed to run. Handling fees increase to meet miners' income, so the Bitcoin ecology must be developed, and a big deal must be carried out. Therefore, as the first ecological inscription protocol, ordi, like the ecological leader, has huge representative significance and hype value! The future prices are worth looking forward to!
1. Trend analysis: First, we must analyze where the general trend of the global market is! 2. Capital flow analysis: Understand the layout intentions of institutional bankers! 3. Sector analysis: Analyze which sectors currently have stories and room for speculation! 4. Price analysis traces history and analyzes the intervention price range! 5. Analyze market activity and study transaction volume (increasing or shrinking volume) 6. Analyze the current disk realization status of technical indicators! 7. Make a good time and space layout and design a trading strategy to increase the value of your assets!
Is there still room for Horseshoe in the short term?
Polygon co-founder Jaynti Kanani revealed on Tuesday that he has been away from day-to-day work on the project for the past six months and is embarking on a "new adventure" after helping launch it in 2017.
"I have decided to take a break from my day job," Kanani wrote on Twitter on Wednesday. The developer said he remains confident in Polygon's future and is "bullish on Polygon 2.0."
This makes Canani the third of 10 Polygon co-founders to announce their departure this year. In the cryptocurrency industry -- though it's not a phenomenon unique to the digital finance industry -- multiple executive departures can be a sign of trouble.
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