1. Trump-Supported DeFi Project Plans to Build "Strategic Reserves"
World Liberty Financial (WLF), a DeFi project supported by Donald Trump and his family, plans to establish "strategic reserves." Co-founder Chase Hero confirmed this in an interview with Bloomberg, although specific details have not been disclosed. The reserves of WLF are expected to consist of major digital assets such as Bitcoin (BTC) and Ethereum (ETH), aligning with Trump’s previous proposal for a national cryptocurrency reserve.
2. India to Tax Unreported Cryptocurrency Earnings at 70%
Starting from February 1, 2025, the Indian government will impose a 70% penalty on unreported cryptocurrency earnings. This measure is part of the federal budget for 2025 and will be implemented through an amendment to Section 158B of the Income Tax Act. Cryptocurrencies will be classified as "Virtual Digital Assets (VDA)" akin to cash and gold, requiring exchanges and financial institutions to report all cryptocurrency transactions. This is expected to enhance government regulatory oversight.
3. U.S. FDIC Reviews Regulations to Ease Banks’ Crypto Business Partnerships
The Federal Deposit Insurance Corporation (FDIC) of the United States is considering regulatory measures to allow banks to collaborate with cryptocurrency firms without prior approval. Acting FDIC Chairman Travis Hill acknowledged that past policies hindered partnerships between banks and crypto companies. The FDIC has released 175 documents reflecting its previous stance, a response to legal pressures from Coinbase. This change is intertwined with congressional investigations regarding the practice of debanking cryptocurrency companies.
4. Strengthening Telegram AI Agents: Collaboration between TheOpenLayer and NPC Team
TheOpenLayer (TOL) and the NPC team have entered a strategic partnership to enhance the functionality of Telegram-based AI agents. By combining TOL's expertise in TON blockchain infrastructure with NPC team's no-code technology (building AI without coding), they plan to innovate the deployment methods of AI agents across various platforms.
5. BlackRock to Launch Bitcoin ETP in Switzerland to Target European Market
BlackRock, the world's largest asset manager, is planning to launch a Bitcoin exchange-traded product (ETP) in Switzerland. This strategy aims to expand into the European market, building on the success of cryptocurrency products in the U.S. Although Switzerland is not an EU member, the ETP must comply with the EU's cryptocurrency market regulation (MiCA) that was enacted at the end of 2023.
