New Satoshi Nakamoto Theory, UAE Crypto Tax Cut, ETH Upgrade Plan, Future Blockchain Summit
Future Blockchain Summit - Dubai
Join us next week at Dubai's Future Blockchain Summit where M2 features as a Bronze Sponsor. Our Chief Product Officer, Sudhu Arumugam, takes center stage on 14 October for two key sessions:?
Meet our team, discover our latest offerings, and be part of shaping the future of digital assets in the UAE.
UAE Removes VAT for All Crypto Transactions
The UAE's Federal Tax Authority (FTA) has announced key amendments to VAT regulations, marking a major shift for the country's crypto sector. Effective 15 November, virtual asset transfers and conversions, including cryptocurrencies, will be VAT-exempt. The change aligns with the UAE's strategy to foster growth in the virtual asset sector while clarifying regulatory frameworks.?
New Ethereum Proposal Aims to Increase Throughput by 50%
A new Ethereum Improvement Proposal (EIP-7781), introduced by Illyriad Games co-founder Ben Adams, aims to boost network performance by reducing block times from 12 to 8 seconds and increasing data capacity. These changes would result in a 50% increase in overall network throughput. Developer Cygaar called it the "first huge" step toward improving the base layer of the Ethereum network. Ethereum Foundation researcher Justin Drake approved the proposal on GitHub, noting its alignment with Vitalik Buterin’s vision.?
Satoshi Nakamoto Identified?
HBO’s new documentary, “Money Electric: The Bitcoin History,” has reignited speculation about Bitcoin’s elusive creator, Satoshi Nakamoto. The focus is on Peter Todd, a prominent Bitcoin developer involved in blockchain projects like OpenTimestamps, Counterparty, and Zcash. Filmmaker Hoback highlights a chat log where Todd referred to himself as the “world’s leading expert on how to sacrifice your Bitcoins,” suggesting he may have destroyed access to Nakamoto’s 1.1 Million Bitcoins. Additionally, Todd reportedly replied to a 2010 BitcoinTalk post by Nakamoto using his own account. Todd dismissed these claims as “ludicrous” and stated on X, “I’m not Satoshi.” While Todd has denied the speculation, the documentary has reignited curiosity over Bitcoin’s mysterious creator.?
Market Update
The crypto market shows little movement on the 7-day chart, with the total market cap stable at $2.13 Trillion. With a modest increase of 1 point, the Fear & Greed Index now stands at 37, still positioned in the Fear zone.?
Bitcoin and Ethereum continue to hover around $61K and $2.4K, respectively, with both seeing less than a 1% change over the past 7 days. ?
After three consecutive weeks of inflows, digital asset fund flows saw $147 Million in outflows between September 29 and October 5. It is worth noting that this occurred following a week of $1.2 Billion in inflows.?
Quick News
领英推荐
By leveraging the recent volatility in the cryptocurrency market, MetaPlanet earned 24 Bitcoin by selling put options.?
Telegram to Enable NFT Conversion for New Gifts Feature? Telegram CEO Pavel Durov teased an upcoming non-fungible token (NFT) conversion feature amid the launch of the social platform’s Gifts, animated images that can be displayed on a profile or converted into the social platform’s in-app currency called Stars.?
PayPal deepens its push into PYUSD for business transactions, making its first payment using the stablecoin.?
In today’s digital economy, the demand for native digital assets is rising, driven by the growing need for global monetary alternatives. As digital natives reach key decision-making positions across industries, they are contributing to the rapid adoption of these assets.?
Issuers are lining up for the next wave of cryptocurrency exchange-traded funds.?
The American investment management firm has a new initiative to support early-stage cryptocurrency and artificial intelligence projects.?
Follow us on social media to stay up-to-date with our latest product launches and to connect with the M2 Community.