Kategorie: Crypto Markets

• Italy drops plans to raise crypto tax from 26% to 42% after industry opposition.
• Lawmakers propose capping the tax at 28% or maintaining the current 26% rate.
• Progressive taxation and exemptions aim to protect small investors and boost crypto.

Italy has decided to abandon a controversial proposal to raise the tax on cryptocurrency capital gains from 26% to 42%, following significant industry opposition and political disagreements.

The initial plan, introduced by Economy Minister Giancarlo Giorgetti, aimed to increase government revenues to fund socio-economic programs. However, it met resistance from lawmakers, industry stakeholders, and members of the ruling League party, prompting a reassessment of the measure.

Crypto capital gains tax in the revised 2025 Italy budget

According to sources familiar with the development, instead of the sharp hike, Italian lawmakers have proposed a more moderate increase, capping the tax rate at 28%. Others suggest maintaining the current 26% rate to avoid disrupting the growing crypto sector.

The revised tax plans form part of the 2025 budget, which must gain parliamentary approval by the end of December.

League lawmaker Giulio Centemero and Treasury Junior Minister Federico Freni were among those pushing for a softer approach. Both argued that an excessive tax increase could drive cryptocurrency trading underground, harming both investors and the broader economy. “No more prejudice about cryptocurrencies,” the lawmakers emphasized, highlighting the importance of fostering a supportive environment for the digital asset industry.

To further encourage innovation while addressing fiscal concerns, lawmakers have also proposed implementing progressive taxation and raising exemption thresholds to protect smaller investors. These measures aim to create a balanced regulatory framework that promotes investment in digital assets without stifling economic growth.

The tax debate in Italy mirrors broader global trends as nations seek to regulate and tax cryptocurrencies. For instance, Russia imposes a 13%-15% income tax on crypto sales, while exempting mining operations from VAT.

The Czech Republic has also introduced reforms exempting long-term crypto holdings from capital gains tax, encouraging digital asset investments.

Italy’s recalibrated approach signals an intent to align with these international practices while mitigating risks to its domestic economy. By rethinking its stance, Italy seeks to strike a balance between fiscal responsibility and fostering a competitive digital economy.

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• OKX Ventures’ investment adds to the recently launched $10 million Telegram Growth Hub.
• The $5 million investment in TON Ventures targets growth for Telegram-powered apps on TON blockchain.

OKX Ventures, the investment arm of global crypto exchange OKX, has invested $5 million in TON Ventures to bolster the development of Telegram-powered TON applications.

The OKX Ventures team announced the investment in The Open Network blockchain’s dedicated venture capital fund on Dec. 10. Per the announcement, the investment will go into efforts to accelerate the TON ecosystem’s developer ecosystem.

“This investment, alongside our recently launched Telegram Growth Hub, demonstrates our long-term conviction in TON’s potential to drive mainstream adoption of onchain technologies. We’re excited to work closely with TON Ventures’ founding team, whose deep ecosystem expertise will be invaluable in scaling the next generation of TON-native applications,” OKX Ventures partner Jeff Ren noted.

OKX Ventures unveiled the $10 million Telegram growth hub alongside The Open Platform and Folius Ventures. The goal is to bring blockchain applications and its benefits to Telegram’s more than 950 million monthly active users.

Eyeing web3 expansion

TON has in the past several months witnessed the explosive surge and traction for mini-apps. Other than Catizen and Notcoin, there has been notable attention on projects such as OKX Racer.

“The OKX Ventures team were one of the first supporters of the TON value proposition, which sits at the intersection of Telegram’s social graph and TON’s blockchain rails, to develop a vibrant ecosystem of Web3 consumer applications that would onboard millions of people,” TON Ventures partner Ian Wittkopp said.

So far, TON Ventures has secured $40 million in funding, with the target for future development including gaming and monetization tools.

The post OKX Ventures boosts TON ecosystem with $5m investment appeared first on CoinJournal.

• Curve DAO (CRV) hit a 22-month high at $1.33 after a 286% surge, driven by the launch of the Savings crvUSD stablecoin.
• Currently in the overbought region, CRV may face short-term consolidation before aiming for $1.5.
• iDEGEN combines meme culture and AI technology with a dynamic pricing model, creating volatility and potential for capital gains.

As December unfolds, the cryptocurrency market is witnessing a remarkable surge in prices, with Curve DAO (CRV) leading the charge. The token has started December with a 52% weekly surge, catching the attention of both seasoned investors and newcomers alike.

Following the strong CRV performance, many are now questioning whether it can continue its upward trajectory and whether it can reach $1.5 as another token, iDEGEN, emerges with a unique approach to community engagement and dynamic pricing.

Curve DAO (CRV) hit a 22-month high

The Curve DAO (CRV) token hit a 22-month high of $1.33 on December 7, driven largely by the launch of the Savings crvUSD stablecoin.

The Savings crvUSD stablecoin not only allows users to earn rewards but also positions CRV as a potential competitor to other stablecoin platforms. The decision to introduce scrvUSD — a yield-bearing stablecoin — has increased investor interest, pushing CRV’s open interest to an all-time high of $262 million according to CEX.IO analysts.

Despite a recent 7% correction, CRV’s market cap remains robust at $1.6 billion, signalling strong underlying support.

With the daily trading volume rising to $635 million, CRV appears poised for further gains. However, the asset’s Relative Strength Index (RSI) indicates that it is currently overbought, suggesting a potential short-term price pullback before it can continue its upward momentum.

The next significant resistance for CRV lies at $1.08, with support at $0.8672. If it can maintain a closing price above $1.08, it could aim for the next resistance at $1.22, putting $1.5 in sight if momentum sustains.

iDEGEN emerges as a promising alternative

While Curve DAO (CRV) continues to capture attention with its established DeFi protocols, a new player, iDEGEN, is quietly making waves in its presale.

Launched in November 2024, iDEGEN combines meme culture with cutting-edge AI technology to create a unique digital asset that evolves based on community engagement on X. This dynamic approach allows the AI behind iDEGEN to learn and adapt from every interaction, creating a project that is continuously shaped by its users.

The ongoing iDEGEN presale has already raised over $3.4 million, with more than 655 million tokens sold. The presale features an innovative dynamic pricing model that adjusts the iDEGEN’s native token’s ($IDGN) price every five minutes based on purchase activity, creating a volatile yet exciting environment for early investors.

If a single purchase is made within five minutes, the price remains the same in the next five-minute session. However, if consecutive purchases are made the price increases by 5% while if no purchase is made the price decreases by 5%.

The iDEGEN presale will conclude on January 1, 2025, with a planned listing price 10% higher than the final presale price, presenting a unique opportunity for capital gains.

Notably, iDEGEN’s approach to tokenomics and the dynamic pricing model make it an interesting counterpart to CRV in the market.

Which token could hit $1.5 first?

While CRV benefits from an established user base, a robust market cap, and a strong DeFi ecosystem, it faces short-term resistance levels and an overbought RSI, which might require a brief consolidation before it can aim for $1.5.

On the other hand, iDEGEN’s dynamic nature and innovative community-driven model suggest it could potentially capitalize on its early momentum and community engagement more effectively. The unique pricing strategy and the upcoming token listing could act as a catalyst for price appreciation, allowing iDEGEN to potentially outperform CRV in the short term and hit $1.5 sooner.

However, the long-term viability of iDEGEN depends on maintaining user interest and the success of its innovative tokenomics.

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