Which countries have pro-cryptocurrency politicians?
Article author: 0x9999in1
Source: MetaEra
At the beginning of the last month of 2024, Bitcoin surged past the $100,000 mark, leading those in the crypto community and players to feel like they are celebrating 'New Year' in advance! As Bitcoin achieves this significant milestone, MetaEra will also briefly summarize the latest views and opinions of various political figures regarding the cryptocurrency industry and cryptocurrencies in 2024.
Former U.S. President Trump: Will make the U.S. the world capital of cryptocurrency
Trump has expressed support for cryptocurrencies on multiple occasions, hoping to make the U.S. a global capital of cryptocurrency and a superpower in Bitcoin. He stated that if re-elected, he would make the U.S. the world capital of cryptocurrency, embracing cryptocurrencies, artificial intelligence, and other 'future industries.' Before his successful campaign, Trump proposed that if re-elected, he would not sell the Bitcoin held by the U.S. government and would hold it as a strategic reserve asset for the long term.
Russian President Putin: Signs law on taxation of digital currencies, emphasizes that no one can prohibit Bitcoin
On November 29, Russian President Vladimir Putin signed a law regulating the taxation of digital currencies. According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the framework of the 'Experimental Legal Regime in the Field of Digital Innovation' (EPR). Mining and selling digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to tax authorities when issuing cryptocurrencies using their services. Failure to transmit such information on time may result in a fine of 40,000 rubles.
Regarding personal income tax, digital currencies obtained through mining will be classified as physical income (a term typically used when payment is made using goods or services instead of currency). The value of the income currency will be determined based on market quotations. Such income will be taxed at the usual progressive tax rate, taking into account tax deductions for the amount of mining costs.
At the upcoming Russia Calling investment forum, Putin stated: 'Who can prohibit Bitcoin? No one can. Who can prohibit the use of other electronic payment methods? No one can either. Because these are new technologies. Regardless of how the dollar evolves in the future, these tools will develop in one way or another because everyone is trying to reduce costs and increase reliability.'
Japanese Prime Minister Shigeru Ishiba: Restructuring the Web3 and cryptocurrency policy department
Japan's new digital minister Masaaki Taira announced on November 27 at a forum that Prime Minister Shigeru Ishiba has restructured his party's web3 and cryptocurrency policy-making department.
Masaaki Taira explained that the ruling Liberal Democratic Party will dissolve the existing Web3 project team (PT) and establish a dedicated department within the party's Digital Society Promotion Department. Former Web3 project team secretary-general Akihisa Shiozaki will lead this new unit. Since the restructuring, Shiozaki's X account profile has been updated, but it was noted that the relevant content of 'Web3 policy' has not been deleted. The government has yet to clarify the full responsibilities of the Digital Society Promotion Department.
South Korea: Enforcing the Virtual Asset User Protection Act
In June, the South Korean State Council passed the enforcement order of the Virtual Asset User Protection Act, which will take effect on July 19. The decree stipulates that virtual asset service providers (VASPs) must secure user deposits through banks. Furthermore, VASPs have the authority to suspend users' cash deposits and virtual asset deposits and withdrawals based on reasonable grounds stipulated by the decree.
El Salvador President Nayib Bukele: Leasing volcanoes to Bitcoin miners for mining
El Salvador President Nayib Bukele proposed an innovative plan to lease the country's volcanoes to miners for sustainable Bitcoin mining. Bukele stated on social media on November 25 that miners could utilize geothermal energy generated by the volcanoes to reduce mining costs. This idea was inspired by a previous post that showcased El Salvador successfully using geothermal energy to mine 474 Bitcoins, valued at approximately $46 million.
Argentinian President Javier Milei: Advocates for separating cryptocurrency from state control
Argentinian President Javier Milei recently advocated for separating cryptocurrency from state control. Milei spoke at the 'Meta Day Argentina' event held at the Domingo Faustino Sarmiento Freedom Palace, criticizing central bank digital currencies (CBDCs) and advocating for private management of cryptocurrencies, warning against government overreach.
Monetary Authority of Singapore: Announced plans to support the commercialization of asset tokenization
The Monetary Authority of Singapore (MAS) announced a series of plans to promote the commercialization of asset tokenization in financial services, covering aspects such as market liquidity, infrastructure, industry framework, and settlement convenience.
It is reported that under the 'Guardian Program,' the Monetary Authority of Singapore convened over 40 financial institutions, industry associations, and international policymakers from seven jurisdictions to conduct industry trials on the use of asset tokenization in capital markets. MAS Vice President Liang Xingqiang stated that MAS encourages financial institutions and policymakers to jointly develop industry standards to promote the commercialization of tokenized capital market products and the expansion of the industry.
Suriname presidential candidate Maya Parbhoe: If elected in 2025, will make Bitcoin legal tender
Suriname presidential candidate Maya Parbhoe proposed a plan to make Bitcoin legal tender if elected in 2025, gradually replacing the Surinamese dollar with Bitcoin. She plans to dissolve the central bank, cut taxes, privatize public services, and combat corruption through Bitcoin transparency. Parbhoe also stated that Bitcoin is key to rebuilding the national financial infrastructure.
Polish presidential candidate Sławomir Mentzen: If elected, will establish a Bitcoin strategic reserve
Polish presidential candidate Sławomir Mentzen promises to establish a Bitcoin strategic reserve if elected.
Overall, an increasing number of leaders and leaders of key sectors in various countries are competing to include Bitcoin in their strategic reserves, which undoubtedly accelerates the development of the cryptocurrency industry. With the introduction of pro-cryptocurrency policies and related compliance laws in various countries, the market value and performance of cryptocurrencies will rise to a new level.
