This week’s crypto highlights include developments in global crypto regulations, such as Denmark’s proposed tax framework for cryptocurrency, which could impose taxes on unrealized gains by 2026.
Other highlights include the BRICS nations discussing using Bitcoin (BTC) and other cryptocurrencies for trade payments.
Bitcoin
The BRICS nations discussed the possibility of using Bitcoin and other cryptocurrencies for import payments during the BRICS Summit this week. An alternative to the US dollar world reserve currency was on the agenda. While BRICS leaders continue to recognize the US dollar as the primary currency for world trade, they are also keenly aware of the need for alternative currencies if political sanctions forbid member nations' use of the currency.
Altcoins
Solana (SOL) looks to become the Ethereum (ETH) of the bull run. Since early October, SOL has been up 30% against its USD pair, leading the gains charge among the top 50 cryptocurrencies by market cap.
DeFi
Decentralized finance (DeFi) project Sky, formerly known as MakerDAO, is exploring further changes to its branding strategy. Sky received mixed reactions from its community when it transitioned from MakerDAO to Sky in September 2024. The transition introduced significant changes to its token and governance structure, which has left its users divided.
Regulation
Denmark has proposed a new tax framework for cryptocurrency, which would see taxes imposed on unrealized gains starting in 2026. The news comes after the Danish Tax Council recommended a mark-to-market taxation model for crypto assets, which will see taxes applied to the changes in the value of crypto assets, even if they have not been sold.
Security
The infamous North Korean hacking operation Lazarus Group has again made news after exploiting a zero-day vulnerability in Google’s Chrome browser. Lazarus Group is known for executing some of the largest crypto hacks and recently used the exploit to install spyware on devices, allowing it to steal crypto wallet credentials.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
