The Weekly Data Room: Thursday, December 11th, 2024

The Weekly Data Room is curated by Sílvia Teixeira

This week's headlines include Putin’s bold endorsement of Bitcoin as a global reserve currency, Hong Kong’s accelerated stablecoin regulation, Fed Chair Powell likening Bitcoin to digital gold, Italy’s reversal on crypto tax hikes, and Amazon shareholders advocating for a Bitcoin treasury allocation.

• Vladimir Putin, the president of Russia, declared that Bitcoin and digital currencies are inevitable, establishing them as important instruments for lowering financial inefficiencies and boosting economic stability.

• By releasing a bill that lays out a precise structure for issuers and marketers, Hong Kong has taken a step toward formalizing its stablecoin regulations.

• Jerome Powell, the chairman of the Federal Reserve, rejected the idea that Bitcoin would replace the US dollar, characterizing the cryptocurrency as a speculative asset on par with gold.

• The government of Italy announced steps to reduce a proposed tax hike on cryptocurrency capital gains after the ruling coalition and industry stakeholders voiced their disapproval.

• A group of Amazon shareholders has called on the firm?to allocate at least 5% of its assets to Bitcoin in order to diversify its treasury holdings.

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