Swiss Bitcoin Initiative: Voters May Force Central Bank to Hold BTC Reserves
Switzerland's Federal Chancellery has approved the 'Bitcoin Initiative,' paving the way for a potential national referendum on requiring the Swiss National Bank to hold Bitcoin reserves. The groundbreaking proposal could make Switzerland one of the first countries to mandate cryptocurrency holdings for its central bank.
Italy Sets New Crypto Tax Rate at 26% in 2025 Budget Law
Italy's Senate has approved significant changes to cryptocurrency taxation, setting a 26% rate on capital gains starting 2025, with a planned increase to 33% in 2026. The new law removes the €2,000 exemption threshold and offers an 18% substitute tax option for assets held by January 2025.
Treasury and IRS Unveil Controversial DeFi Reporting Rules, Crypto Industry Pushes Back
The U.S. Treasury and IRS have finalized new reporting requirements for DeFi brokers, mandating documentation of digital asset sales similar to traditional securities. The decision faces strong opposition from crypto industry leaders who question its timing and legality, particularly regarding KYC implementation requirements.
DeFi Industry Groups Challenge IRS Crypto Broker Regulations in Landmark Lawsuit
The Blockchain Association and partners have filed a lawsuit against the IRS over new rules classifying DeFi platforms as brokers. The regulations, requiring transaction reporting and KYC compliance by 2027, face criticism for overstepping authority and imposing technically unfeasible requirements.
Cambodia Embraces Regulated Stablecoins While Maintaining Bitcoin Ban
Cambodia's central bank has authorized commercial banks to handle specific cryptocurrency services, focusing exclusively on backed digital assets while maintaining restrictions on Bitcoin. The groundbreaking directive includes strict consumer protection measures and requires explicit regulatory approval for crypto-related services.
Russia Imposes Regional Cryptocurrency Mining Ban Until 2031
Russia announces comprehensive restrictions on cryptocurrency mining across 10 territories, effective from 2025 to 2031, to preserve power grid stability. The ban primarily affects regions including Dagestan and Chechnya, while three additional areas face seasonal limitations during peak energy periods.
Germany Orders Worldcoin to Delete Iris Scan Data Over Privacy Concerns
German data protection regulators have ordered Sam Altman's Worldcoin project to delete all user iris scan data, citing GDPR violations. The landmark ruling creates challenges for blockchain projects using biometric data and signals stricter oversight of digital identity verification in Europe.
Ohio Proposes Groundbreaking Bitcoin Reserve Bill, Following Texas and Pennsylvania
Ohio House Bill 703 could make the state the third in the US to hold Bitcoin in government reserves, as lawmakers seek protection against dollar devaluation. The Ohio Bitcoin Reserve Act, introduced by Republican leader Derek Merrin, aims to authorize state treasury Bitcoin investments while promoting financial innovation.
Coinbase Reports Significant Drop in Global Law Enforcement Data Requests
Cryptocurrency exchange Coinbase reveals an 18% year-over-year decrease in law enforcement information requests, with notable declines across major European markets. The US remains the top requester while Singapore emerges as a rising jurisdiction, highlighting shifting regulatory dynamics in the crypto space.
Japanese Lawmaker Proposes Groundbreaking National Bitcoin Reserve Strategy
A Japanese parliamentarian named Satoshi Hamada is spearheading an ambitious initiative to establish a national Bitcoin reserve, submitting over 200 proposals to convert foreign exchange holdings into digital assets. The campaign gains significance as other major economies, including Russia and Brazil, explore similar strategies while Bitcoin surges past $100,000.