Bitcoin News Today TheBitTimes.com

1. Hong Kong’s Weekly News 1.1 Hong Kong Considers Tax Incentives for Crypto Investments link Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, announced at Hong Kong Fintech Week that virtual assets are being included in a new proposed tax incentive policy. This initiative aims to provide tax benefits for a range of asset types, including virtual assets, real estate, emissions derivatives, insurance-linked securities, interests in non-corporate private entities, and private credit investments. Hui noted that the tax incentives will primarily target institutional investors, although he did not elaborate on the specific details or requirements of the policy. 1.2 HKEX to Launch Virtual Asset Index Series link On November 15, the Hong Kong Stock Exchange (HKEX) will launch the HKEX Virtual Asset Index Series, providing a reliable benchmark price for the virtual asset category. This index series will offer transparent and dependable benchmark pricing for Bitco...

Source: Unsplash/Maxim Hopman The cryptocurrency market has posted a 1% gain in the past 24 hours, with its total cap reaching $894 billion. This represents a 6.5% increase in the last two weeks,  signalling a hope that the market may have turned a corner after a difficult 2022.  There's no doubt that last year wasn't great as far as crypto's short history is concerned, what with the Terra and FTX collapses and with prices falling by 64%. However, aside from the fact that the market has picked up a little in recent days, a variety of macroeconomic indicators suggest that 2023 may bring more sustained rallies. Not only is inflation easing in various countries and employment rising, but bond yields -- particularly those of US Treasuries -- suggest that interest rates will peak at below 5% this year, lower than some analysts have feared. This is very good news for speculative risk assets such as bitcoin and cryptocurrency, which may spend much of this year ...

The first cryptoweek of 2023 is behind us. Let’s see how the year began. The ‘Brazilian Nostradamus’ forecasted a catastrophic end for the world of crypto, Erik Voorhees said that the macro environment needs to improve before the next bull run can begin – likely by 2026, crypto payments company Wyre is reportedly shutting down due to the market downturn, Grayscale Ethereum Trust discount reached a record 60% and its Bitcoin Trust stood at 45%, Silvergate cut its staff by 40% or 200 employees, and Genesis Global Trading told clients they need more time to resolve the financial crisis plaguing its lending business. Also, Binance was close to sealing a deal to buy a majority stake in the Gopax exchange. As that was happening, a report claimed that Sam Bankman Fried’s empire began to crumble long before the crypto crash, and then Bankman-Fried pleaded not guilty in court. Meanwhile, a branch of the Seoul Central District Court acquitted the ...