PA Daily | Ohio, USA proposed to establish a "Strategic Bitcoin Reserve" bill; OKX will be launched on VINE (VINE Coin) spot transaction
Reprinted from panewslab
01/26/2025·3MToday’s news tips:
Dennis Porter calls for push for tax exemption on small crypto transactions of $200
Ohio proposes bill to establish “strategic Bitcoin reserve”
Eric Trump confirms US-based crypto projects will enjoy zero capital gains tax
xAI’s GROK already supports real-time display of stock and cryptocurrency prices
OKX will launch VINE (Vine Coin) spot trading
CZ: 40% of respondents have never purchased BNB, and only 21% have never purchased Meme coins.
Paradigm calls for accelerated Ethereum development process
Regulation/Macro
According to the "Rule of Law Daily" report, the "Disposal of Virtual Currency Involved" seminar sponsored by Renmin University of China Law School and other institutions was held in Beijing on January 19, 2025, attracting nearly 60 experts from the legislative, judicial, and business circles. participate. The meeting held in-depth discussions around the legal attributes, regulatory policies and judicial practices of virtual currencies. The main viewpoints include: 1. Legal attributes and supervision of virtual currencies: Liu Xiaoyu of Bank of China Law Firm pointed out that there are many views on the legal attributes of virtual currencies such as "virtual property theory" and "digital commodity theory". He believes that my country's current "prohibitive" supervision limits the ability to participate in global Web 3.0 competition, and suggests that policies should be adjusted appropriately on the basis of risk prevention. 2. Disposal problems in judicial practice: Experts attending the meeting generally believed that the current decentralization and transnational characteristics of virtual currencies make judicial disposal face problems such as difficulty in characterization, verification, and custody. Guo Shuo of China University of Political Science and Law pointed out that the nature and disposal rules of virtual currencies should be clarified at the legislative level, and the victims’ rights to participate and the standardization of disposal procedures should be strengthened. 3. International perspective and regulatory coordination: He Ting of Beijing Normal University mentioned that the supervision of virtual currencies needs to pay attention to the coordination of criminal justice and administrative management, prevent new illegal and criminal risks, and solve the problem of recovering stolen goods through transnational cooperation. 4. Combination of technology and law: Nie Youlun of East China Normal University emphasized that blockchain tracking technology and advanced investigation methods should be used to improve the evidence chain; at the same time, legal interpretation should be optimized to meet practical challenges. Conclusions and recommendations: The meeting agreed that my country needs to speed up legislation related to virtual currencies, clarify its property attributes and regulatory boundaries, and at the same time strengthen international cooperation and technology application to provide legal protection for the disposal of virtual currencies involved in cases. In addition, it is recommended to create a better legal environment for the development of the digital economy by formulating dynamic regulatory policies to balance innovation and risks.
Dennis Porter calls for push for tax exemption on small crypto transactions of $200
Dennis Porter, co-founder and CEO of Satoshi Action Fund (SAF), published an article on the At present, the U.S. government's top priority is to continue the Trump-era tax cuts, and any proposals that threaten this policy are likely to be shelved. Porter suggested that the Bitcoin and digital asset industries should focus on promoting a tax-free policy of $200 for small transactions, consistent with the existing tax-free standard of $200 for foreign exchange transactions. The move will significantly reduce the tax filing burden for small, everyday transactions such as coffee, meals or groceries, while having a smaller tax impact. He emphasized that this policy has bipartisan support and is a feasible solution that balances innovation and fairness. He also suggested linking the tax exemption to inflation to ensure the long-term effectiveness of the policy, and called on crypto industry and tax policy experts to provide advice and jointly advance this legislative proposal.
Dragonfly managing partner Haseeb Qureshi said on the X platform that the U.S. Government Accountability Office (GAO) may launch a public expenditure reporting system based on the AVAX chain in 2025 to achieve transparent management on the chain through stable coins. He mentioned that the wallet addresses of government agencies and contractors will be made public and analyzed by the public on a daily basis. Yesterday, Bloomberg reported that the U.S. Department of Government Efficiency (DOGE) led by Musk is exploring the use of blockchain technology to improve government efficiency. It also mentioned that the California Department of Motor Vehicles has transferred ownership of millions of cars on the Avalanche blockchain. Digitization of warrants.
Trump: TikTok’s future may be decided within 30 days
According to CCTV International News, US President Trump said that he is negotiating with multiple people to acquire TikTok and may make a decision on TikTok’s future in the next 30 days.
Eric Trump confirms US-based crypto projects will enjoy zero capital gains tax
According to The Street, Trump’s second son Eric Trump recently confirmed that U.S.-based crypto projects such as XRP and HBAR will enjoy zero capital gains tax in the future, while non-U.S. projects will face a 30% tax rate. Meanwhile, Senator Ted Cruz plans to use the Congressional Review Act to challenge a controversial IRS rule that requires DeFi brokers to report user data and trading revenue. Cruz believes that this rule hinders innovation, violates privacy, and increases the compliance burden on decentralized platforms.
Ohio proposes bill to establish “strategic Bitcoin reserve”
Dennis Porter, co-founder and CEO of Satoshi Action Fund (SAF), posted on the reserve". The bill includes: 1. Allowing state governments to use 10% of the general fund, budget stabilization fund and prize trust fund for Bitcoin investment. 2. Provide robust hosting solutions, ensuring that states use self-hosting or qualified custodians. 3. Be technology-neutral, adopt the term “digital asset,” reduce political resistance, and protect the purchasing power of state funds from inflation. 4. Only assets with a market value of US$750 billion and an average duration of 12 months are eligible for reserves. Currently, only Bitcoin is eligible.
Financing
Cross-chain Meme currency Launchpad project Printr announced the completion of a $2.5 million Pre-Seed round of financing, with participation from Sfermion, Draper Dragon, Bitscale, Hermenutic, Sui Foundation, Axelar Foundation and Flow Foundation.
According to reports, Printr is a chain abstract token market that allows Meme to be launched on multiple chains and traded on all chains with one click, such as Ethereum, Solana, Sui, BNB and Base, etc., and through the mutual Operational platform Axelar unifies liquidity.
According to Fazeshift’s official announcement, the company successfully completed a US$4 million seed round of financing, led by Gradient Ventures, followed by Y Combinator, Wayfinder VC, Pioneer Fund, Ritual VC, Phoenix Fund, etc., and also received angel investors Terrence Rohan, Kulveer Taggar and support from Rich Aberman.
Fazeshift focuses on simplifying corporate accounts receivable processes through AI technology, and its customers range from fast-growing AI startups to unicorn companies. This round of funding will be used to advance product development, expand the team, and accelerate its mission of empowering finance teams.
African cross-border payment platform Accrue announced the completion of a US$1.58 million seed round of financing, led by Lattice Fund, with participation from Maven 11, Lava, Kraynos Capital, etc., and celebrated its third anniversary at the same time. Accrue was founded in 2021 by Zino, Clinton and Adesuwa, and initially focused on fixed investment applications for crypto and stocks. After experiencing the market trough in 2022, the company transformed and launched the cross-border payment tool Cashramp, which has now become the main source of revenue and will achieve profitability in mid-2023. Currently, Accrue has served more than 200,000 African users. This round of financing will be used to expand payment infrastructure, optimize product functions and expand team size to further promote innovation and growth.
AI
xAI’s GROK already supports real-time display of stock and cryptocurrency prices
Independent App developer Nima Owji tweeted that xAI’s GROK now supports real-time display of stock and cryptocurrency prices and provides comparison functions.
xAI launches enhanced sports, finance and location services tools
According to xAI’s official announcement, its platform Grok has added new sports, financial and location service tools, covering major events such as NBA, MLB, NHL, NFL and Premier League. Users can check real-time scores, league rankings and schedules. In addition, it also supports analysis of complex problems, such as "Who will hit the most home runs in 2024?" In the financial sector, Grok provides real-time news updates on company fundamentals and supports comparative analysis of stocks and cryptocurrencies. For example, enter "Compare the recent performance of TSLA and AAPL" to get detailed data. The tool is currently available on the web version, and the iOS version will be launched soon.
Project news
OKX will launch VINE (Vine Coin) spot trading
According to the official announcement of Oyi, the OKX platform will soon launch VINE (Vine Coin) spot trading. The relevant time schedule is as follows: • Deposit opening time: 13:30 on January 26, 2025 (UTC+8) • Call auction time: 2025 January 26, 17:00 to 18:00 (UTC+8) • Spot trading opening time: 18:00 on January 26, 2025 (UTC+8), the trading pair is VINE/USDT • Withdrawal opening time: 18:00 on January 27, 2025 (UTC+8)
point of view
Virtuals Protocol co-founder everythingempty announced that its platform will be expanded to Base and Solana. Developers can choose to generate proxies and corresponding tokens on the two chains, and provide initial liquidity on Uniswap or Meteora respectively. The team plans to launch the Solana platform in the first week of February, when it will launch the $VIRTUAL/SOL liquidity pool and finalize relevant details with LayerZero. In addition, for the agent team on the Base chain, although the liquidity pool on Uniswap is locked for ten years and cannot be migrated, the team is exploring using 50% cbBTC in the agent wallet as a source of liquidity to create a new pool in Solana and studying cross-chain exchange solutions To realize asset swap between Base and Solana. Previous news, VirtualsProtocol core contributor: Multi-chain is crucial, and it will expand to other blockchains after Solana.
CZ: 40% of respondents have never purchased BNB, and only 21% have never purchased Meme coins
Binance CEO CZ shared the results of his survey on social media and pointed out some interesting findings. He said there may be bias in the survey, but the data stabilized after a few hundred votes. Here are the key findings: 40% of respondents have never purchased BNB, which is very different from CZ’s expectations. 45% of the respondents have never purchased NFT, but only 21% have never purchased Meme coins, which may be related to the current "Meme cycle". More people are making money from Bitcoin, which may be because the current price of Bitcoin is close to all-time highs. The comment area shows that many followers have made considerable profits through BNB.
Coinbase CEO: Will improve token listing process and promote deep integration of DEX and CEX
Coinbase CEO Brian Armstrong just stated on social media that since about 1 million new tokens are created every week, the traditional one-by-one review listing process is no longer sustainable. He proposed switching from an "allow list" to a "block list" model to help users select high-quality tokens through user reviews and automatic scanning of on-chain data. In addition, he also emphasized that the integration of decentralized exchanges (DEX) and centralized exchanges (CEX) will continue to be deepened. In the future, users will not need to pay attention to which platform transactions occur on, thereby improving the overall trading experience.
Paradigm calls for accelerated Ethereum development process
According to The Block, the co-founder and CTO of crypto venture capital firm Paradigm co-authored an article with other partners calling for accelerating the development of Ethereum and proposing the goal of launching multiple major upgrades every year. They believe that the idea of slow development or "freezing" the core protocol will limit Ethereum's ability to adapt to market changes. The article mentions several improvements that can be quickly implemented, including re-pricing L1’s opcodes to expand the scale of Ethereum, optimizing the user experience of batch transactions through an account abstraction framework, and developing Rollup technology to meet growth needs. In addition, Paradigm also mentioned that the Reth Ethereum client it developed currently occupies 2% of the market share, and invited the research community to cooperate to improve Ethereum performance and censorship resistance.
Shaw, the founder of ai16z, expressed his hope that tokens will enter the era of funding real science and technology projects, allowing ordinary people to invest in the next Uber or OpenAI and get returns through smart contracts, instead of being limited to hype or Meme projects.
He emphasized that high-value return companies should not be the preserve of only a select few, but that everyone should have the opportunity to support aspiring founders and reap life-changing rewards.
important data
Investors chasing $VINE and $ALON lost $1.22 million, losing more than $1.78 million in seven days
According to monitoring by @ai_9684xtpa, an investor who lost $1.22 million due to chasing $VINE and $ALON recently continued high-frequency trading of Meme coins and lost another $170,000, with a cumulative loss of $1.787 million in seven days.
According to a market survey jointly conducted by Coinness and Kratos, 47.8% of respondents expect Bitcoin prices to rise or rise significantly next week, an increase from 41.2% last week. 34.0% expect prices to move sideways, while 18.4% think prices will fall or fall sharply. Regarding market sentiment, 42.0% of respondents expressed neutrality, 40.8% were optimistic, and 17.3% expressed panic or extreme panic. In addition, regarding the issue of the possible approval of the first altcoin ETF by the Trump second-term administration, 49.3% of the respondents believed that the XRP ETF would be approved first, 26.1% chose Solana (SOL), and 10.2% chose Litecoin (LTC). . Another 4.9% believe no ETFs will be approved this year.
According to Ember Monitoring, a whale who had previously made a profit of US$39.15 million on multiple MEME coins such as PNUT, TRUMP, and MELANIA purchased 66,855 TRUMP for 2 million USDC 4 hours ago, with an average price of US$29.9. This address has previously realized a profit of $24.38 million in TRUMP transactions.
Bitcoin options worth $7.8 billion set to expire at the end of this month
According to Bitcoin News, according to Deribit data, $7.8 billion worth of Bitcoin options will expire at the end of this month, of which approximately $6 billion in open interest will be at 08:00 (UTC) on January 31 when the contract expires. "Out of the Money" status.
OKG Research said that even if the Bitcoin national strategic reserve cannot be implemented in the future, many states in the United States are exploring "strategic Bitcoin reserves" from the bottom up, which may surpass the global influence of the gold and oil national strategic reserves.
According to Dennis Porter, co-founder and CEO of Satoshi Action Fund (SAF), at least 15 states in the United States currently plan to introduce legislation related to "strategic Bitcoin reserves." OKG Research predicts the future of this event: Assuming that each state spends 2% of its annual budget (approximately US$50 billion) on Bitcoin reserves, it will bring about US$15 billion in capital inflows, accounting for the existing circulating supply of Bitcoin. 7.57% of the volume (19.81M BTC).
If all 50 states participate in the reserve in the future, the demand for Bitcoin in this part may account for 25.23% of the circulating supply. In comparison, the current gold reserves of the United States are about 8,133 tons, accounting for 23% of the global total; strategic oil reserves are about 700 million barrels, accounting for 15% of global reserves.
Ki Young Ju, founder and CEO of CryptoQuant, tweeted that Bitcoin is receiving global attention. Short-term holders continue to pour in, while long-term holders are selling. This is the definition of a bull market.
He believes that the Trump administration may introduce more pro-cryptocurrency policies in the next four years and questions why Bitcoin is being sold at this time. He also jokingly suggested "buying the dip."
Opinion: Cryptocurrency capital gains tax unlikely to drop to 0%
Eric Peterson published an article on the He suggested that the industry should focus on more realistic goals, such as promoting a de minimis exemption policy similar to foreign exchange transactions, to reduce tax burdens and achieve broader industry support.
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