WAO ART

As India's Union Budget approaches, the crypto industry anticipates tax reductions for Bitcoin and digital assets. The proposed changes aim to lower the hefty 30% tax on crypto gains, aligning it with other asset classes. Industry experts push for policy revisions to ease administrative burdens and foster growth.

Australian gold miner Ramelius Resources secured a $160 million revolving debt facility and government grants to fund operations and acquisitions. Major banks including ANZ, Commonwealth Bank, NAB, Natixis, and Westpac back Ramelius.

Germany's government surprised the market with a $111.5M Bitcoin buyback, acquiring 1,915 BTC following recent sales causing market volatility. Justin Sun of Tron proposed negotiations to minimize market impact. The government transferred 1,047.4 BTC to various entities, holding over 40,000 BTC worth $2.29 billion.

On July 6, 2024, U.S. Bitcoin Spot ETFs saw a remarkable $143.1M inflow after a price drop below $54,000 on July 4. Leading ETFs like FBTC and BITB capitalized on this dip, boosting their holdings. Notably, FBTC attracted $117M, BITB $30.2M, ARKB $11.3M, and HODL $12.8M, while GBTC saw a $28.6M outflow.

The economic turmoil in Venezuela and Argentina has propelled a surge in crypto adoption, with stablecoins proving vital amid currency devaluation. Venezuela, hit by hyperinflation, sees 92.5% of crypto activity on centralized exchanges. Similarly, Argentina relies on stablecoins to combat economic challenges.

Nigeria's NITDA plans to develop "Nigerium," a domestic blockchain, to enhance data security and sovereignty amid concerns over foreign-controlled technologies like Ethereum. The initiative aims to prioritize national interests, data privacy, and regulatory alignment.

Grayscale's survey reveals a 25% rise in US investor interest in Ethereum if a spot ETF is sanctioned. Financial stability concerns amidst inflation fuel crypto curiosity. Ownership spans bipartisan lines, with 40% eyeing crypto in portfolios. Bitcoin's scarcity-like gold bolsters its value.