The DeFi and cryptocurrency space is witnessing significant shifts. Let's look into the latest developments and trends.
World Liberty Financial to Create "Strategic Reserve"
World Liberty Financial (WLF), backed by Donald Trump and his family, plans to establish a "strategic reserve" of purchased tokens. Co-founder Chase Herro confirmed to Bloomberg that the reserve is expected to include Bitcoin, Ethereum, and other digital assets.
India to Impose Penalties on Crypto Gains
On February 1, 2025, India enforced a 70% penalty on undeclared cryptocurrency profits, with a 48-month look-back period. Amendments to the Income Tax Act require exchanges and financial institutions to report all crypto transactions.
FDIC Plans to Ease Crypto Restrictions
The FDIC is revising its guidelines to allow U.S. banks to engage with crypto businesses without prior approval. This move is expected to simplify banks' collaboration with crypto firms.
These developments highlight the ongoing evolution of the cryptocurrency market, impacting regulation, investment strategies, and banking endeavors worldwide.
