(3/3) The draft follows a statement in June by the government to clarify that digital currencies such as $BTC will not be regarded as foreign currency for tax purposes. Frameworks such as these is a good sign for crypto as it adds further credibility. ๐
๐https://t.co/j03LOLZVlV
(1/3) Global inflation is at its highest level in decades. ๐ Markets reservation looms as the Fed continues its aggressive plans to tame inflation when it meets this week.
2/3) On regulation, an Australian draft legislation has been released where taxpayers will be provided with increased certainty around the tax treatment of digital currencies, following the Governmentโs release of the draft legislation on 6 September 2022. ๐ก
The $ETH Merge is an upgrade to the Ethereum network that many people are hailing as one of the most significant events in the history of #crypto! ๐ But what does it mean for crypto users and investors? ๐
#ethereum#ether#investing#CPET
https://t.co/IvyydvLVHb
Is #Crypto the next Internet? ๐ค Research makes comparisons between the internet in the 1990s and its S curve during the period when usage of the web increased from 77M (1996) to 412M (2000).
While the markets appear unpredictable, #cryptocurrency adoption is steadily on the rise with @Googleโs parent company Alphabet having invested a total of US$1.5 billion between September 2021 and Jun 2022 in the #blockchain industry.
๐ Read more https://t.co/Go3Xu4qvSa
(2/2) ETHโs boost is driven by the long-anticipated #Ethereum Merge, announced for September 2022, which is set to function as a catalyst, transforming Ethereum into "a global institutional-grade asset." ๐
๐ Read more: https://t.co/l6TAy4F2Er
(1/2) July proved to be a strong month for the blue chips with $BTC returning 17% and $ETH over 57%, the strongest monthly gain since Oct 2021 for BTC and Jan 2021 for ETH. ๐ ETH emerged as the best-performing digital asset in July leaving a large margin against other cryptos.
Across the globe inflation and recession continues to grab the headlines. In the US and most of Europe, inflation is close to 10 per cent, last seen in the early 1980s.
๐ Read more: https://t.co/QmMEe7oUy7
For instance, in a note to clients, JP Morgan strategists revealed the bank had begun placing higher value on cryptocurrency as an alternative asset over other asset classes such as real estate. More ๐ https://t.co/XP5TW3UvVW
Cryptocurrency volatility is common to crypto natives, however whatโs been interesting about this downturn has been the great interest from Institutional investors appetite for the asset classes within the traditional businesses. ๐ก
๐ฌ โInvestors should really be thinking about the fundamentals of the asset class and the future of our digital economyโlooking at the blue chips of these asset classes, specifically when weโre talking about cryptocurrencies like $BTC and $ETH.โ https://t.co/x4eTRax57f
Although the #crypto market has traditionally experienced extreme bull & bear cycles, the recent market crash is not unique to the #blockchain technology asset class. As of 24 June, the S&P 500 & the ASX 200 are down year-to-date ~18% & ~12%. More ๐ https://t.co/XoS8M1u2lE