It’s late at night, and just now, three important news came from the encryption market. Without further ado, let’s get straight to the point:

1. At the recently held "2024 Shanghai Web3.0 Innovation Ecosystem Construction Research Report" conference, representatives from government agencies, universities, and related industries agreed that the development of Web3.0 is crucial to the information technology industry. . This "Report" is guided by the Shanghai Municipal Science and Technology Commission and jointly released by Liberation Daily and Fudan University School of Economics. It is Shanghai's first industry report oriented to Web3.0

2. Silvergate Capital Corp, the parent company of a cryptocurrency-friendly bank whose collapse in 2023 exacerbated the sector’s banking crisis, has agreed to pay $63 million to settle internal investigations by U.S. and California regulators. Allegations of management failures and adverse disclosures to investors.

3. Hong Kong Ta Kung Pao issued an article: Investment in virtual assets in Hong Kong will not be levied asset value-added tax, and it has great advantages in developing the virtual asset market. At the same time, he said that this move is very attractive to global investors. For example, in Japan and Australia, although they have vigorously expanded the virtual asset market earlier than Hong Kong, Japan and Australia both need to pay asset appreciation tax, and relevant taxes will be Including the comprehensive tax rate calculation, the comprehensive tax rates in Japan and Australia can be as high as 50% and 40% respectively. $BTC

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