● Biden: Confident that the United States will not default and will hold a press conference on debt issues on Sunday
U.S. President Biden said in a speech on the debt ceiling issue: "We had productive talks yesterday. I am confident that a (debt ceiling) agreement will be reached and that the United States will not default. We must unite because there is no other option. Leaders agree we will not default. I am proud of the progress the government has made in reducing the deficit."
Biden also said: "We will continue to discuss until we reach an agreement. A press conference will be held on Sunday on the debt issue." (Daily Planet)
● The White House proposes a 30% crypto mining tax, citing economic and energy factors as the main driving forces behind the policy
The White House has released a report focusing on digital asset mining, sustainability and “fair” taxation of the industry. Starting in 2024, miners will pay a 10% tax based on their energy usage. This number gradually increases every year until it finally reaches 30%. (ZyCrypto)
● The International Organization of Securities Commissions will publish international rules for crypto assets
Jean-Paul Servais, chairman of the International Organization of Securities Commissions (IOSCO), said that IOSCO will soon propose the first set of international rules for crypto assets, including how existing norms apply to the industry. Members of the International Organization of Securities Commissions, including the U.S. Securities and Exchange Commission, Japan's Financial Services Authority and regulators in the United Kingdom, Germany and France, have pledged to adopt the agency's recommendations. (Reuters)
● The Korean Political Affairs Committee passed a resolution on “Members of Congress voluntarily declare crypto assets”
The South Korean National Assembly Political Affairs Committee passed two resolutions, namely that members of the National Assembly must proactively declare the details of their crypto assets held, and that their crypto transactions must be subject to illegality inspections. (News1)
● Data: Bitcoin whales accumulated 84,897 BTC in 5 weeks, worth US$2.3 billion
Santiment data shows that key whale addresses holding 1,000-10,000 Bitcoin have been accumulating BTC at a steady rate over the past five weeks as the price of Bitcoin has stalled. During this period, this group of market participants accumulated a total of 84,897 Bitcoins, worth approximately $2.3 billion at today’s prices. A move like this suggests investors view the recent pause in price action as a buying opportunity. (CryptoPotato)
● CZ: We are exploring the possibility of cooperation with stablecoin issuers in different regions
Regarding the regulatory environment and stablecoin issuance in the United States, Binance founder and CEO Changpeng Zhao (CZ) said that it is exploring the possibility of cooperation with stablecoin issuers in different regions.
CZ mentioned that it has been able to work with multiple stablecoin issuers around the world, some of which are backed by fiat currencies, some of which are not, and some of which are algorithmic stablecoins. Many fiat-backed stablecoins are no longer even backed by the U.S. dollar and are exploring partners in different regions.
