Good Morning Dinar Recaps,

CRYPTO ADVISORY COUNCIL LED BY 24 CEOS TO COLLABORATE WITH SEC, CFTC, AND TREASURY FOR REGULATORY CLARITY

▪️Crypto council will collaborate with key regulators, including the SEC, CFTC, and Treasury, to enhance regulatory clarity and promote a pro-crypto environment.

▪️The crypto industry will host the ‘Inaugural Crypto Ball’ on January 17 in Washington, DC, organized by BTC Inc and Stand With Crypto.

As per the latest Bloomberg report, President-elect Donald Trump will be appointing a total of 24 CEOs and founders to his crypto advisory council. Trump’s crypto council will provide guidance on digital asset policy and collaborate with Congress to draft cryptocurrency legislation.

Additionally, it also plans to establish a strategic Bitcoin reserve, thereby fulfilling the promise of Trump’s election campaign.

 The Crypto Council also plans to work with top government regulators such as US SEC, US CFTC, and Treasury to bring regulatory clarity and promote a pro-crypto environment, per the CNF report.

The Bloomberg report shows that many potential appointees have existing ties to Trump and have met with him in recent months. On the other hand, Trump and key advisors, including the newly appointed crypto czar David Sacks, will be reviewing candidates for the council.

Crypto Executives Meet Trump Before Oath-Taking

Following Donald Trump’s election victory in November 2024, top leaders from the crypto industry have visited his residence at Mar-a-Lago in order to build a good rapport with the President-elect. Crypto.com CEO Kris Marszalek recently met with Donald Trump to discuss crypto-friendly policies and potential roles within the upcoming administration.

Meanwhile, MicroStrategy CEO Michael Saylor was seen in discussions with Eric Trump, focusing on Bitcoin’s potential role in the U.S. economy. Coinbase CEO Brian Armstrong has also reportedly held meetings with Trump in recent weeks.

Circle CEO Jeremy Allaire was among the recent ones to meet Donald Trump and also announced a significant donation to the Trump inaugural committee. On Thursday, Circle CEO Jeremy Allaire revealed that the company donated 1 million USDC to Trump’s inaugural committee in an effort to establish goodwill as the new administration forms its advisory council, reported CNF.

Crypto Czar David Sacks Gears for Inaugural Crypto Ball

Last month, in December 2024, Donald Trump appointed Bo Hines to lead the newly established crypto council. Hines will be reporting to David Sacks, with the duo focused on offering a conducive environment for the crypto industry.

Bo will work with David to foster innovation and growth in the digital assets space while ensuring industry leaders have the resources they need to succeed,

The crypto industry is gearing up for a significant event, the ‘Inaugural Crypto Ball,’ set to take place on January 17 in Washington, DC, to celebrate and support the incoming administration. 

Organized by David Bailey’s BTC Inc., advocacy group Stand With Crypto, and other crypto organizations, the black-tie event will be held at the Andrew W. Mellon Auditorium.

Tickets are priced at $2,500, covering cocktails, hors d’oeuvres, and valet service. Additionally, reports suggest that David Bailey is under consideration for a potential position on the administration’s advisory council.

@ Newshounds News™

Source:  Crypto News Flash

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ITALY’S LARGEST BANKING GROUP INVESTS DIRECTLY IN CRYPTOS FOR FIRST TIME

“As of Monday, Intesa Sanpaolo owns 11 Bitcoins.”

Banca Intesa Sanpaolo, Italy’s largest bank by assets, purchased 11 Bitcoins on Monday, worth €1 million ($1.02 million).

According to a Wired Italia report, this marks the first time in Italy, a credit institution concluded a direct crypto transaction.

Some employees of the largest Italian bank first flagged the crypto purchase and sale on the imageboard website 4Chan.

“As of today (Monday), Intesa Sanpaolo owns 11 Bitcoins. Thank you all for the teamwork”, said Niccolò Bardoscia, head of digital assets trading & investments at Intesa Sanpaolo in a mail.

However, Bardoscia did not reveal further information on Intesa Sanpaolo’s motivations for choosing BTC or its future crypto strategies. It is unclear whether the move signals the bank’s intent to expand its crypto services.

Last November, Intesa Sanpaolo expanded the remit of its digital assets desk to cover spot trading for crypto. The biggest lender in Italy had previously only traded crypto options, futures, and exchange-traded funds. However, the spot trading isn’t yet up and running.

Milan-based Intesa Sanpaolo has worked with Ripple Custody (formerly Metaco), to facilitate tokenised asset custody.

Intesa’s move mirrors a growing trend among traditional financial institutions exploring cryptos.

Italy’s Crypto Tax Revisions

The bank’s Bitcoin investment came when the country overhauled its crypto taxation laws, particularly focusing on Bitcoin (BTC) capital gains.

In December 2024, Italy’s Senate finalised the tax rates for crypto capital gains, confirming a 26% tax for 2025. Further, the parliament approved a government proposal to increase the withholding tax on Bitcoin profits to 33% in 2026.

In July 2024, Intesa became the sole institutional investor in Italian development bank Cassa Depositi e Prestiti’s digital bond issuance. The move marked a significant step in digital asset adoption in Italy.

Besides, the implementation of the European MiCA Regulation marks a significant shift in the regulatory landscape for crypto service providers across the EU.

The European Union set a Dec. 30 deadline for its member states to implement MiCA, although not all countries have managed to.

In Italy, the MiCA Decree, the Legislative Decree of September 5, 2024, assigns critical responsibilities to the Commissione Nazionale per le Società e la Borsa (Consob) and the Bank of Italy. It designs them as the primary national authorities for overseeing compliance with MiCA’s provisions.

@ Newshounds News™

Source:  CryptoNews

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CARDANO FOUNDATION UNVEILS ‘VENTURE HUB’ PILOT PROJECT TO FORTIFY BLOCKCHAIN INNOVATION

The Cardano Foundation, an autonomous not-for-profit organization backing the Cardano blockchain, has recently unveiled a pilot project Venture Hub. The new pilot project aims to expedite projects developing on the Cardano blockchain. The company revealed this development on its official X account.

Cardano Foundation Starts Pilot Program ‘Venture Hub’ to Increase Chosen Ventures’ Visibility

The Cardano Foundation mentioned that it leverages the new pilot project Venture Hub to enhance its methodology to back ecosystem endeavors. For this purpose, it offers modified assistance to exclusive and beneficial projects. 

It leverages its comprehensive experience backing projects via more than five hundred Slack and Telegram channels. Subsequently, the platform pursues to expand selected ventures’ visibility and offer valued feedback to advance its programs.

Venture Hub will reportedly include Web 3.0 Ventures, Web 3.0 Innovators, and Web 2.0 Businesses. These 3 categories take into account existing entities utilizing blockchain to increase client services and established blockchain firms endeavoring to grow or migrate to Cardano. In addition to this, the latest ventures introducing scalable solutions on the blockchain of Cardano are also invited. 

The Cardano Foundation will let the selected projects access an exceptional combination of business, visibility, and technical support. This will lead to the projects’ long-term success.

Venture Hub to Deliver Technical Support and Strategic Business Advice to Boost Project Development

Hence, in the case of visibility boost, the program will deliver a wider exposure via an organized Demo Day, marketing, and PR endeavors. Additionally, the projects will also get strategic business advice to attain sustainable growth.

Moreover, the in-house technical professionals will provide personalized guidance to the selected projects. Venture Hub will potentially cater to the respective projects at diverse development points. They range between early-stage ventures and fully established businesses dealing with blockchain solutions.

According to the Cardano Foundation, the participants will benefit from sophisticated technical strategies and boosted business development with ecosystem collaborators. Apart from that, they will also enjoy an enhanced visibility across the Cardano ecosystem.

Furthermore, the platform will also deliver investment readiness via curated opportunities such as VC engagements and Project Catalyst workshops.

The applications are invited between the 13th and 31st of January. Following that, the platform will announce the successful candidates in February while the 12-week program is scheduled to start on the 17th of March.

@ Newshounds News™

Source:  Blockchain Reporter

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