BitDigest September 18 · Issue #745
- Crypt market back above $350 billion, bitcoin dominance breaks 57% but BTC still struggling to hold above $11,000
- China plans to replace native tokens used for transaction fees on public blockchains with its own digital currency as protocols are added to its state blockchain network
- Gibraltar releases regulatory principles for distributed ledger technology providers
Argentina Adds USD Withholding Tax
Expect local crypto activity in Argentina to increase. The government of the South American nation, with a reported year to date low 40.6% inflation rate in July, has decided to impose a 35% withholding tax on purchases of US dollars and overseas credit card payments. Pharmaceutical and healthcare services, books, online research and education services, and spending on fire protection equipment has been omitted from the tax.
The Headlines
China’s ‘Localizing’ Public Blockchains on BSN
Gibraltar Releases DLT Regulatory Principles
Abkhazia Government Considering to Overturn Crypto Mining Ban
Wyoming’s Banking Division Chooses Chainalysis
Court Grants Bifiex More Time to Present Files in Case Brought by NY AG
tZERO Achieves Record Performance in August
Core Scientific Named Bitmain's North American Cooperative Repair Center
Market Data
Locked ETH Hits 15%
Exchange, Custody and Product News
Coinbase Imposes Gas Fee on Traders
Kraken Returning to Japan
BUSD to be Supported on Flow
Coinbase Adds Support for Uniswap
Reports you may have missed
Major equity indices are rallying on the back of solid earnings, with both the $SPX and $QQQ up over 1%. Meanwhile, crypto markets are churning lower, which is understandable as we should not expect crypto to rally alongside equities during an earnings-driven market. Crypto remains an apparently undecided market ahead of next week's FOMC meeting and the Quarterly Refunding Announcement (QRA), evidenced by another day of ETF outflows and a...
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC 0.59% (-0.28%) trading at $64k and ETH 4.72% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC 0.59% ...
