Bitcoin's Resilience and Japan's Crypto-friendly Tax Reform Spur Market Optimism | June 25, 2023

The promising trend of #Bitcoin maintaining above the $30K mark, despite volatility, signals an upturn in the market. This positivity is spurred by the anticipation surrounding spot Bitcoin ETF applications, manifesting in strong weekly gains. While a surge in the altcoin market is concurrently evident, the inherent market volatility seems unlikely to dissipate in the short term. The Securities and Exchange Commission's decision on Bitcoin ETF applications from major players such as #BlackRock, #Invesco, and #WisdomTree is eagerly awaited. With this in the backdrop, speculations about Bitcoin's potential peak continue to create a buzz.

On another note, Japan's flexible approach to the crypto era becomes apparent with its amended tax laws. This alteration, excluding unrealized gains of self-issued cryptocurrencies from taxation, comes as a relief for crypto startups. Comparatively, the U.S. lacks specific directives concerning tokens issued by crypto companies, making Japan's proactive policy shifts praiseworthy. In the meantime, the crypto market looks forward to 21.co co-founder and CEO Hany Rashwan's market analysis, amidst reports of Prime Trust's customer fund deficits and Casa's decision to extend support to #Ethereum. #BTC #ETH #Crypto #MarketUpdate #News