By Kenneth Christiane L. Basilio, Correspondent THE ADMINISTRATION will not put forth new tax schemes in the 20th Congress, Finance Secretary Ralph G. Recto stated, reiterating the government’s fiscal consolidation strategy despite unprecedented debt levels. Speaking to reporters after a Development Budget Coordination Committee briefing at the House of Representatives on Monday night, Mr. Recto mentioned that the Marcos administration would concentrate on previously submitted measures such as an excise duty on single-use plastics and a tax amnesty initiative. When asked if the Department of Finance would support further tax proposals, Mr. Recto responded: “No.” He also noted that the…
Autore: wsjcrypto
“`html Reasons to have faith Rigid editorial standards that emphasize precision, relevance, and neutrality Developed by sector specialists and thoroughly examined The utmost standards in journalism and publication Rigid editorial standards that emphasize precision, relevance, and neutrality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Bitcoin’s forthcoming significant rise may hinge less on halving myths and more on personnel dynamics in Washington. In a market note dated August 18 on X, economist and crypto analyst Alex Krüger contended that the cycle’s length will be dictated by the Federal Reserve’s leadership transition—specifically,…
While the US Congress is on recess until September, one of the senators spearheading efforts for legislation to create a digital asset market framework expressed optimism for bipartisan backing.Addressing attendees at the Wyoming Blockchain Symposium in Jackson Hole on Tuesday, Senate Banking Committee Chair Tim Scott stated he anticipates that some Democrats will collaborate with Republicans to advance the Digital Asset Market Clarity (CLARITY) Act following the approval of the Guiding and Empowering Nation’s Innovation for US Stablecoins (GENIUS) Act.The senator from South Carolina noted he had already been reaching out to Democrats beyond the banking committee to “provide cover”…
A Spanish decentralized finance (DeFi) investor was charged with 9 million euros ($10.5 million) in overdue taxes for obtaining a crypto-backed loan, as per a local media article.In a Thursday report, the Spanish news organization Periodista Digital claimed it acquired documents illustrating that the investor had already reported all cryptocurrency transactions and settled $5.84 million in taxes. Three years afterwards, officials issued an additional invoice linked not to unreported gains, but to the act of depositing assets into a DeFi protocol for a loan. The assets were not liquidated, hence no profit was generated, the article noted.A tax consultant mentioned…
NONLIFE INSURERS FPG Insurance Co., Inc. and The Mercantile Insurance Co., Inc. have consented to combine, as stated in a joint announcement dated Aug. 15. The amalgamated entity will be called FPG Mercantile and will possess an estimated aggregate gross written premiums (GWP) of P10 billion, positioning it among the top four nonlife insurance providers in the Philippines, they mentioned. “The merger unites two established market participants… FPG Mercantile will be poised to innovate, broaden digital services, and navigate the shifting regulatory environment in the Philippines,” the firms stated. “The united entity… will utilize the benefits of both firms to…
This marks the initial installment in a 10-part video series centered on Bitcoin confidentiality, recorded at bitcoin++ Privacy Edition in Riga and other locations. Each segment will address a facet of Bitcoin privacy, a tool for utilizing Bitcoin discreetly, or methods of surveillance. Confidentiality is heads, while censorship resistance is tails. Both represent different aspects of the same currency. All collective human activities are inherently interactive. When these engagements cannot occur confidentially, becoming widely recognized public information, the involved individuals may experience outside pressures. They could face ostracism, humiliation, incarceration, or various penalties. In the absence of privacy, there is…
Illinois Governor JB Pritzker criticized US President Donald Trump for permitting “crypto advocates” to dictate policy as he endorsed two bills aimed at regulating crypto in the state on Monday.“While the Trump Administration is permitting crypto advocates to draft federal policy, Illinois is executing rational safeguards for investors and consumers,” stated Pritzker on Monday while sanctioning the legislation.Crypto regulation has become contentious on a state level since the Republicans secured victory in the election last November, with states like Texas and Arizona fully embracing the sector, whereas others, like the Democratic stronghold Illinois, have adopted a more prudent approach.The first…
“`html Reliable Editorial material, assessed by prominent industry specialists and experienced editors. Ad Disclosure Worldwide cryptocurrency investment instruments experienced a notable resurgence in investor engagement last week, with inflows amounting to $3.75 billion, based on CoinShares’ most recent fund flows report. This amount represents the fourth-largest weekly inflow ever recorded, indicating renewed enthusiasm after several weeks of subdued sentiment throughout the industry. James Butterfill, head of research at CoinShares, observed that inflows were significantly focused: “Remarkably, almost all inflows were funneled into a single provider, iShares, and a particular investment product. Following recent price increases, total assets under management peaked…
THE GOVERNMENT sold P507.16 billion in retail Treasury bonds (RTB), surpassing the objective as investors sought improved yields. National Treasurer Sharon P. Almanza informed journalists on Monday that the demand for RTBs was propelled by “very strong fundamentals” and predictions that rates will persist in declining. “I believe [the market] anticipates that rates will decrease. The rates surged. They dropped following the [rate-setting] auction,” she remarked. The total collected for the five-year RTBs was nearly 17 times the P30-billion aim but fell short of the record-high P584.86 billion secured from the RTB issuance in February 2024. In a statement, the…
A recent forecast from crypto analyst BarriC has highlighted the long-term outlook for XRP. He asserts that the token’s price has thus far only been influenced by altcoin seasons and the four-year cycle, leaving an entirely different situation yet to be explored. He posits that when XRP eventually embarks on a utility phase, its worth could soar well beyond the current values, reaching $100 initially and finally arriving at $1,000. XRP Has Yet to Undergo a Genuine Utility Phase Similar to numerous other cryptocurrencies, XRP has been subjected to periods of enthusiasm, corrections, and rapid capital influxes. Its surges in…