On the first trading day for the spot bitcoin ETF on the stock exchanges were sold shares for 4.6 billion dollars. This is reported UNN with reference to Reuters.
Details
Such unprecedented excitement arose after the U.S. securities regulator approved 11 applications from issuers of spot bitcoins on January 10. According to analysts, the commission's approval for this trading instrument was a watershed moment for the entire cryptocurrency industry.
On the morning of January 11, all 11 exchanges that had submitted applications began trading in spot bitcoin. According to Reuters, this was the beginning of fierce competition for market share. On the first day, trading volumes were dominated by exchanges such as Grayscale, BlackRock and Fidelity.
According to analysts, the fierce competition in this new field will not be limited to a one-day struggle - it will be a long race.
Add
Ukraine is now on the path of legislative regulation of virtual assets. As Elena Sosiedka, co-founder of Ukraine's first fintech ecosystem Concord Fintech Solutions, told UNN in comments, if the right approach is taken, both the state and asset owners will benefit from the regulation of this sphere.
Among the advantages, she names not only an increase in tax revenues, but also ensuring investor security, preventing money laundering and terrorist financing, stimulating innovation and technology, strengthening reputation and international status, developing new market segments, increasing financial inclusion, and the possibility of creating a hub for investors.
Read more about cryptocurrency in the material: Bitcoin is predicted to experience unprecedented growth: the expert spoke about the impact of cryptocurrencies on the traditional financial sector and prospects for Ukraine
Recall
In 2022, the Verkhovna Rada adopted the draft law "On Virtual Assets" (No. 3637), which was to come into force only after amendments to the Tax Code. However, the President vetoed it by introducing a number of amendments.
In addition, changes to the tax laws were never made.
On November 7, 2023, the Parliament registered a draft law on regulating the turnover of virtual assets in Ukraine (#10225), developed by the National Securities and Stock Market Commission (NSSMC).
The bill proposes taxation of profits from crypto market activities at the rate of 18% and a military levy of 1.5%. On November 17, the Ministry of Digital Transformation introduced an alternative bill (#10225-1), which, among other things, proposes to set personal income tax at 18%.
However, the tax will be introduced gradually, with a 3% rate for the first three years and 9% for the next five years.
Those payers of personal income tax, the amount of investment profit from operations with virtual assets of which does not exceed UAH 7 million during one reporting year, will be entitled to the rates stipulated by this paragraph.