Brazilian congressman introduces bill for national bitcoin reserve

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As US politicians renew their push to create a national bitcoin reserve, one Brazilian congressman has put forward a similar proposal. 

Eros Biondini on Monday proposed establishing a bitcoin sovereign strategic reserve, known as ResBit. The plan calls for the country’s central bank to gradually acquire bitcoin until the cryptocurrency makes up 5% of Brazil’s national reserves, according to local reports.  

With Donald Trump headed back to the White House, Republican Senator Cynthia Lummis — who introduced legislation to form a strategic bitcoin reserve at the Bitcoin 2024…

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Planned crypto ETF fleet grows after options milestone

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First came the SEC’s approval of US spot bitcoin ETFs in January. Then, ether fund launches in July. 

In November alone, crypto-friendly Donald Trump (and a slew of segment-friendly congressional candidates) won their races for office. Options on the BTC ETFs started trading and Gary Gensler said he would step down from his SEC chair post in January. 

These events have contributed to momentum around even more crypto ETF filings, and it might not slow down anytime soon. Let’s review the latest:

Bitwise on Tuesday filed an S-1 for an ETF that would hold both bitcoin and ether….

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Algorand Up 33% In 24 Hours: What’s Behind The Price Spike?

Algorand ALGO/USD is up over 30% over the past 24 hours, benefiting from bullish sentiment around altcoins.

CryptocurrencyPrice             Market Cap24-Hour Trend7-Day TrendAlgorand ALGO/USD$0.3928$3.2 billion+33%+71%Ripple XRP/USD$1.73$98.8 billion+18%+22%Cardano ADA/USD$1.07$38.3 billion+7%+20%

Trader Notes: Crypto trader Brandon Hong noted in a post on X on Friday that Algorand has surpassed its yearly high of around $0.31 and might go as high as $0.45 in the short term.

He sees a break below the yearly high as invalidation for the trade idea, suggesting Algorand can follow a similar path to Ripple and Cardano.

Pseudonymous influencer TradingSpaces is even…

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Will December Surpass November’s Record-Breaking Bitcoin Price Increase?

Bitcoin is closing out one of its most remarkable months in history, surging over $30,000 in November and marking a renewed bullish sentiment in the market. As we look ahead to December and beyond, investors are eager to understand whether Bitcoin’s momentum can sustain itself into 2025. With macroeconomic conditions, historical trends, and on-chain data aligning in Bitcoin’s favor, let’s analyze what’s happening and what it could mean for the future.

November’s Record-Breaking Performance

November 2024 wasn’t just any month for Bitcoin; it was historic. Bitcoin’s price rose from around $67,000 to nearly $100,000, an approximate 50% peak-to-trough increase, making it the…

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JUST IN: Russia Officially Signs Law Recognizing Crypto as Property in Foreign Trade

Russian President Vladimir Putin has signed a law officially recognizing digital currencies as property for foreign trade settlements. The law also exempts crypto mining and sales from value-added tax (VAT) and introduces a taxation framework for mining income and crypto trading.

Under the new experimental legal regime (ELR), mining income will be taxed as “income in kind,” with deductions for expenses. Individual crypto trading income will be taxed at 13% for earnings up to 2.4 million rubles and 15% for higher amounts, while corporate mining profits will face a 25% tax rate starting in 2025. However, miners and traders are barred from preferential tax regimes such as simplified or agricultural tax systems.

The law also mandates reporting obligations for mining operators, with fines of 40,000 rubles for non-compliance. This legislation builds on prior regulations from August, requiring mining operations to be conducted by registered entities. It signals Russia’s attempt to formalize and regulate its growing digital currency sector.