ChainCatcher news, QCP Capital's latest analysis indicates that Bitcoin rebounded to $95,200 last night after successfully testing the key support level of $92,500. However, following the news that the U.S. government plans to sell seized Silk Road Bitcoins, the outlook for Bitcoin turned bearish in the Asian early session today.Cryptocurrency prices continue to be affected by macroeconomic headwinds, with last night's release of the Federal Reserve's meeting minutes showing a more hawkish stance. The Fed stated that it would slow the pace of interest rate cuts due to rising inflation risks. The ADP employment report released yesterday also added to macro uncertainty, showing a slowdown in private sector hiring and wage growth. This stands in stark contrast to the stronger job market depicted by Tuesday's JOLTS job openings data.In the options market, the curves for all maturities steepened, with the 3-6 month spread widening by 1.5 volatility points, and the 6-12 month spread rising above 1 volatility point. Trading desks continue to observe that near-term volatility is under pressure, with at-the-money options expiring on January 17 dropping by 3 volatility points compared to last night.QCP expects that during today's U.S. market holiday, Bitcoin will consolidate in the $92,000-$95,000 range. If it breaks below $92,000, it may further test the $90,000 round number.

ChainCatcher news, according to Bloomberg, informed sources revealed that the government led by Italian Prime Minister Giorgia Meloni may approve the proposal from coalition partners to reduce the tax increase on cryptocurrency transactions.A copy of the proposal shows that as the junior partner in Meloni's ruling coalition, The League has put forward an amendment to limit the tax rate on crypto transactions to 28%, while the budget proposed last month initially suggested an increase to 42%. The current tax rate is 26%.Cryptocurrency executives have stated that the proposed tax rate is too high and would make the local industry less competitive compared to other EU countries. The EU is preparing to fully adopt its first comprehensive cryptocurrency regulation across the bloc, known as "MiCA," by the end of this year.Additionally, another ruling coalition party, Forza Italia, founded by the late Silvio Berlusconi, has proposed another amendment aimed at completely eliminating the tax increase and removing the tax exemption for earnings of €2,000 ($2,120) or less.As part of the coalition's proposed amendments, Italy will establish a permanent working group composed of digital asset companies and consumer associations to educate investors about cryptocurrency. Two informed sources indicated that the government is likely to approve The League's proposal, although no final decision has been made, and it may be subject to modifications.

ChainCatcher news, the Deputy Secretary for Financial Services and the Treasury of Hong Kong, Chen Haolian, stated that the second round of public consultation on the regulation of virtual asset over-the-counter (OTC) trading is planned to be completed next year. A proposed licensing system for regulating virtual asset custodians will also be consulted next year to ensure the secure custody of digital assets meets international standards.Chen Haolian emphasized that the licensing system for virtual asset trading platforms introduced in June last year is an important milestone. Before the end of this year, a bill will be submitted to the Legislative Council to establish a licensing system for fiat-backed stablecoin issuers, creating a secure framework for this emerging market. He pointed out that many financial institutions choose to set up regional headquarters or the largest regional operations in Hong Kong, which means that Web 3 companies can easily access a large pool of potential customers, investors, and business partners.

ChainCatcher news, the Lagos State Government of Nigeria has announced a real estate tokenization program that leverages blockchain technology to enhance the transparency, efficiency, and transferability of real estate transactions. The tokenization program will last for 16 months, led by the Ministry of Science and Technology, in collaboration with various agencies and partners. These agencies will utilize a budget of 500 million Naira (314,465 USD) allocated by the state government to support the program.

ChainCatcher news, according to webtekno, based on the Turkish "Official Gazette" that published the "Decision on the Approval of the 2024 Presidential Annual Program (Decision No: 7739)", the Turkish government plans to finalize regulations regarding crypto assets next year, with crypto assets being clearly defined, and individuals engaged in crypto asset trading will be taxed on the income generated from it.In addition, the report mentioned a new regulation for exchanges, which will focus on regulatory work for crypto asset service providers.

ChainCatcher news, according to Bitcoin.com, the Brazilian government is preparing to issue a decree to fill the gaps left by the recently approved cryptocurrency law. The document, prepared by the Ministry of Finance, will define the oversight and responsibilities of the Brazilian Central Bank and the National Securities Regulator (CVM). The new definitions will place Brazilian securities regulators above tokenized securities, analyzing whether each tokenized asset constitutes a security. The organization will establish a new department specifically responsible for this task, namely digital asset regulation. (Source link)

ChainCatcher news, according to Yonhap News Agency, the South Korean Ministry of Science and ICT announced that it will invest 223.3 billion won (approximately 174 million USD) this year to support the metaverse industry. The government will invest 61.5 billion won in the research and commercialization of key technologies such as digital humans and holographic displays for immersive experiences; 68 billion won for the development of targeted metaverse platforms in various fields including healthcare, education, defense, industry, and economy; 16.7 billion won for talent cultivation mechanisms such as metaverse laboratories; and establish a 40 billion won metaverse corporate acquisition fund. (Source link)

ChainCatcher news, according to CoinDesk, the Canadian federal government recently released its fall economic statement, stating that it will consult on "cryptocurrencies, stablecoins, and central bank digital currencies" and plans to regulate cryptocurrencies. This fall economic statement serves as the Canadian government's fiscal roadmap for the coming months, with its "digitalization of currency" section emphasizing that cryptocurrencies are changing the financial system in Canada and elsewhere, and that Canada's financial regulatory framework must keep pace.The statement indicates that the digitalization of currency poses challenges to democratic institutions around the world, and that the financial regulatory framework includes legislative reviews concerning financial stability and security as well as other digitalization efforts. (CoinDesk)