22 May 2025, 14:26

Pakistan to Launch Digital Assets Authority in Push Toward Blockchain Regulation

Pakistan Ministry of Finance has backed the formation of a new regulatory body focused on blockchain-based financial infrastructure. The Pakistan Digital Assets Authority (PDAA) will oversee the development and regulation of cryptocurrencies, tokenized platforms, decentralized finance (DeFi), and related services in the country, according to a May 21 report from the state broadcaster PTV. Finance Minister Muhammad Aurangzeb emphasized the urgency and ambition behind the move , stating, “Pakistan must regulate not just to catch up, but to lead.” He added that the PDAA will be “a future-ready framework that protects consumers, invites global investment, and puts [the country] at the forefront of financial innovation.” The PDAA’s role will extend beyond crypto trading regulation. It will also be responsible for tokenizing national assets, managing government debt through blockchain, enabling regulated Bitcoin mining to monetize surplus electricity, and supporting local startups developing Web3-based solutions. Pakistan Making Strategic Policy Shift The creation of the PDAA marks a major policy shift for Pakistan, where the stance on cryptocurrencies had once been skeptical. In May 2023, then Minister of State for Finance Aisha Ghaus Pasha had firmly declared that the country would never legalize digital assets, citing concerns about money laundering and the potential to circumvent financial controls imposed by the Financial Action Task Force (FATF). However, a surge in grassroots adoption and increasing interest in blockchain innovation appears to have altered the narrative. In 2024, Pakistan ranked ninth globally on Chainalysis’ crypto adoption index, highlighting strong retail engagement and a growing ecosystem around centralized crypto services. According to Statista, Pakistan’s crypto market is rapidly expanding, with the number of users projected to exceed 27 million by 2025. The market’s revenue is expected to reach $1.6 billion, a notable rise for a country with limited prior exposure to regulated digital finance. While still trailing far behind the United States, which projects over $9.4 billion in revenue, Pakistan’s growth trajectory has caught global attention . A Vision for Economic Transformation Bilal Bin Saqib, CEO of Pakistan Crypto Council, hailed the PDAA initiative as more than just a crypto regulation move. “This is about rewriting our financial future,” he said, “expanding access and creating new export channels through tokenization, digital finance, and Web3 innovation.” With former Binance CEO Changpeng Zhao advising the government-backed Cryptocurrency Council , Pakistan’s pivot toward blockchain regulation could well place it on the global fintech map — not just as a fast follower, but as a proactive player shaping the future of digital finance. The post Pakistan to Launch Digital Assets Authority in Push Toward Blockchain Regulation appeared first on TheCoinrise.com .

22 May 2025, 14:05

Mantle and Republic Technologies Forge Strategic Partnership to Pioneer Institutional mETH Integration

Singapore, Singapore, May 22nd, 2025, Chainwire mETH becomes the first liquid staking token to be held on the balance sheet of a publicly listed company. Mantle , the largest sustainable hub for on-chain finance with over $3 billion in Total Value Locked (TVL), today announced a strategic partnership with Republic Technologies , the Ethereum (“ETH”) treasury of publicly listed Canadian company Beyond Medical Technologies Inc. (CSE: DOCT) (IBKR: DOCT) (FSE: 7FM). This partnership marks a major milestone in institutional cryptocurrency adoption, positioning Mantle’s mETH as the first liquid staking token to be held on the balance sheet of a publicly listed company. Through the partnership, Republic Technologies plans to delegate a significant portion of its ETH holdings to Mantle’s mETH Protocol and will hold mETH as a yield-bearing, liquid staking token on its balance sheet. The collaboration underscores a structural shift in institutional digital asset strategy and growing investor conviction in Ethereum-native yield infrastructure, reflecting Republic Technologies’ deepening alignment with the Mantle ecosystem. Republic Technologies: The First Publicly Listed Ethereum Treasury Republic Technologies is establishing a new institutional paradigm by building a treasury strategy around Ethereum, seen as the foundational layer for smart contracts, tokenization, and decentralized financial settlement. In contrast to Bitcoin-focused strategies employed by firms like Strategy and Metaplanet, whose reserves are largely Bitcoin-based, Republic Technologies’ approach is anchored in Ethereum’s role as the infrastructure layer powering both blockchain innovation and real-world enterprise integration. By accumulating ETH as a core balance sheet asset, Republic Technologies advances the growth of its underlying healthcare technology businesses while offering institutional-grade exposure to digital assets for all shareholders. This strategy attracts growing interest from traditional markets and accelerates institutional participation in the emerging technology sector. “We hold strong conviction that Ethereum is the institutional chain, with ETH serving as the digital fuel powering global financial systems,” said Daniel Liu , CEO of Republic Technologies . “Our initial entry through Mantle’s Scout Program helped us gain early exposure to the broader Mantle ecosystem, where our alignment with mETH Protocol came as a natural next step. More than 50 established incumbents —including BlackRock, Franklin Templeton, PayPal, and Visa—have already built services on Ethereum. Wall Street has made its decision. Our role now is to extend the benefits of this macro tailwind to a broader base of institutional and retail participants worldwide.” Its leadership team brings decades of experience from top-tier financial institutions, including Apollo Global Management, Goldman Sachs, BlackRock, and Canaccord Genuity. Republic Technologies operates under the publicly listed company Beyond Medical Technologies Inc. , a technology firm integrating blockchain infrastructure to drive operational efficiency and improve patient outcomes across the medical ecosystem. In March 2025, Republic Technologies entered into a licensing agreement and launched its medical attestation platform, leveraging Ethereum-based distributed systems to power healthcare data integrity and regulatory compliance. The Ethereum treasury was established to support and scale this vision, marking a first-of-its-kind integration. Institutional Alignment with Mantle’s Yield Infrastructure Mantle’s mETH Protocol has quickly emerged as one of the leading platforms in Ethereum liquid staking and restaking. Within just 66 days of launch, it surpassed $1 billion in TVL —the fastest growth in its category—and has since peaked at over $2.19 billion. Designed with institutional-grade capital efficiency and composability in mind, mETH enables institutions to access Ethereum-native yield through a fully composable and capital-efficient framework. To date, over 170,000 mETH (approximately $455 million) has been restaked into EigenDA, securing Mantle’s modular data availability layer. Validator operations are distributed across leading infrastructure providers, including Stakefish, P2P.org, Blockdaemon, A41, and Veda, ensuring high availability and robust institutional reliability. “Republic Technologies’ participation highlights mETH Protocol’s ability to support institutional strategies built natively on Ethereum,” said Jonathan Low, Growth Lead at mETH Protocol . “As demand accelerates for ETH-native yield and utility, we remain focused on building resilient infrastructure that long-term allocators can trust.” Looking Ahead: MI4 and Mantle Banking The partnership precedes mETH’s inclusion in MI4 , a tokenized, yield-focused index fund developed in collaboration with Securitize—the tokenization firm behind BlackRock’s BUIDL and Apollo’s ACRED. Backed by up to $400 million anchor investment from the Mantle Treasury, MI4 targets $1 billion in AUM and will offer regulated exposure to BTC, ETH, SOL, stablecoins, and select staking assets, with mETH playing a central role in its ETH allocation strategy. In parallel, Mantle is preparing to extend mETH’s utility across traditional finance through Mantle Banking , an initiative that will integrate mETH into fiat rails, credit products, and conventional payment systems. This integration will allow users to spend, borrow, and invest with mETH across traditional payment rails, unlocking real-world utility for digital assets. About Mantle Ecosystem A pioneering on-chain ecosystem dedicated to revolutionizing the future of finance and blockchain scalability, seamlessly bridging traditional finance (TradFi) and decentralized finance (DeFi). Through innovative products like Mantle Network , mETH Protocol, Function (FBTC), and Mantle Index Four (MI4), Mantle’s ecosystem empowers users and institutions with a unified financial services platform, redefining how the world spends, saves, and invests in the Web 3.0 era. For more information, users can visit: https://group.mantle.xyz/ Contact Consultant Faizah Faizuwan Wachsman [email protected]

22 May 2025, 14:04

Mantle and Republic Technologies Forge Strategic Partnership to Pioneer Institutional mETH Integration

May 22nd, 2025 – Singapore, Singapore mETH becomes the first liquid staking token to be held on the balance sheet of a publicly listed company. Mantle , the largest sustainable hub for on-chain finance with over $3 billion in Total Value Locked (TVL), today announced a strategic partnership with Republic Technologies , the Ethereum (“ETH”) treasury of publicly listed Canadian company Beyond Medical Technologies Inc. (CSE: DOCT) (IBKR: DOCT) (FSE: 7FM). This partnership marks a major milestone in institutional cryptocurrency adoption, positioning Mantle’s mETH as the first liquid staking token to be held on the balance sheet of a publicly listed company. Through the partnership, Republic Technologies plans to delegate a significant portion of its ETH holdings to Mantle’s mETH Protocol and will hold mETH as a yield-bearing, liquid staking token on its balance sheet. The collaboration underscores a structural shift in institutional digital asset strategy and growing investor conviction in Ethereum-native yield infrastructure, reflecting Republic Technologies’ deepening alignment with the Mantle ecosystem. Republic Technologies: The First Publicly Listed Ethereum Treasury Republic Technologies is establishing a new institutional paradigm by building a treasury strategy around Ethereum, seen as the foundational layer for smart contracts, tokenization, and decentralized financial settlement. In contrast to Bitcoin-focused strategies employed by firms like Strategy and Metaplanet, whose reserves are largely Bitcoin-based, Republic Technologies’ approach is anchored in Ethereum’s role as the infrastructure layer powering both blockchain innovation and real-world enterprise integration. By accumulating ETH as a core balance sheet asset, Republic Technologies advances the growth of its underlying healthcare technology businesses while offering institutional-grade exposure to digital assets for all shareholders. This strategy attracts growing interest from traditional markets and accelerates institutional participation in the emerging technology sector. “We hold strong conviction that Ethereum is the institutional chain, with ETH serving as the digital fuel powering global financial systems,” said Daniel Liu , CEO of Republic Technologies . “Our initial entry through Mantle’s Scout Program helped us gain early exposure to the broader Mantle ecosystem, where our alignment with mETH Protocol came as a natural next step. More than 50 established incumbents —including BlackRock, Franklin Templeton, PayPal, and Visa—have already built services on Ethereum. Wall Street has made its decision. Our role now is to extend the benefits of this macro tailwind to a broader base of institutional and retail participants worldwide.” Its leadership team brings decades of experience from top-tier financial institutions, including Apollo Global Management, Goldman Sachs, BlackRock, and Canaccord Genuity. Republic Technologies operates under the publicly listed company Beyond Medical Technologies Inc. , a technology firm integrating blockchain infrastructure to drive operational efficiency and improve patient outcomes across the medical ecosystem. In March 2025, Republic Technologies entered into a licensing agreement and launched its medical attestation platform, leveraging Ethereum-based distributed systems to power healthcare data integrity and regulatory compliance. The Ethereum treasury was established to support and scale this vision, marking a first-of-its-kind integration. Institutional Alignment with Mantle’s Yield Infrastructure Mantle’s mETH Protocol has quickly emerged as one of the leading platforms in Ethereum liquid staking and restaking. Within just 66 days of launch, it surpassed $1 billion in TVL —the fastest growth in its category—and has since peaked at over $2.19 billion. Designed with institutional-grade capital efficiency and composability in mind, mETH enables institutions to access Ethereum-native yield through a fully composable and capital-efficient framework. To date, over 170,000 mETH (approximately $455 million) has been restaked into EigenDA, securing Mantle’s modular data availability layer. Validator operations are distributed across leading infrastructure providers, including Stakefish, P2P.org, Blockdaemon, A41, and Veda, ensuring high availability and robust institutional reliability. “Republic Technologies’ participation highlights mETH Protocol’s ability to support institutional strategies built natively on Ethereum,” said Jonathan Low, Growth Lead at mETH Protocol . “As demand accelerates for ETH-native yield and utility, we remain focused on building resilient infrastructure that long-term allocators can trust.” Looking Ahead: MI4 and Mantle Banking The partnership precedes mETH’s inclusion in MI4 , a tokenized, yield-focused index fund developed in collaboration with Securitize—the tokenization firm behind BlackRock’s BUIDL and Apollo’s ACRED. Backed by up to $400 million anchor investment from the Mantle Treasury, MI4 targets $1 billion in AUM and will offer regulated exposure to BTC, ETH, SOL, stablecoins, and select staking assets, with mETH playing a central role in its ETH allocation strategy. In parallel, Mantle is preparing to extend mETH’s utility across traditional finance through Mantle Banking , an initiative that will integrate mETH into fiat rails, credit products, and conventional payment systems. This integration will allow users to spend, borrow, and invest with mETH across traditional payment rails, unlocking real-world utility for digital assets. About Mantle Ecosystem A pioneering on-chain ecosystem dedicated to revolutionizing the future of finance and blockchain scalability, seamlessly bridging traditional finance (TradFi) and decentralized finance (DeFi). Through innovative products like Mantle Network , mETH Protocol, Function (FBTC), and Mantle Index Four (MI4), Mantle’s ecosystem empowers users and institutions with a unified financial services platform, redefining how the world spends, saves, and invests in the Web 3.0 era. For more information, users can visit: https://group.mantle.xyz/ Contact Consultant Faizah Faizuwan Wachsman [email protected] This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on X Facebook Telegram Check out the Latest Industry Announcements The post Mantle and Republic Technologies Forge Strategic Partnership to Pioneer Institutional mETH Integration appeared first on The Daily Hodl .

22 May 2025, 13:54

Which senators invest in crypto? 11 lawmakers have blockchain-related investments

As the question of stablecoin regulation heats up in the US Senate, so has the issue of which members are personally invested in cryptocurrencies and cryptocurrency firms. On May 19, the Senate voted to invoke cloture and move ahead with the GENIUS Act, which would provide a regulatory framework for stablecoins. The measure passed 66-32, with 16 Democrats supporting the bill. Democratic concerns over corruption and politicians’ ties to cryptocurrency firms made the bipartisan move controversial. After the vote was finished, Colorado Senator Michael Bennet introduced the STABLE GENIUS Act. The bill would prevent members of Congress from issuing or investing in digital currency and require them to put their crypto in a blind trust while in office. Bills to prevent members of Congress from investing in companies they regulate have had little success. However, lawmakers are still required to disclose rough estimations of their, their spouse’s and their children’s investments. Here are 11 US senators who have invested in crypto firms. Montana Tim Sheehy, Republican Tim Sheehy is a newcomer to the Senate, first securing his election in the 2024 cycle. In his campaign, Sheehy contrasted himself against his opponent, former Senator Jon Tester, stating , “Crypto represents the future of finance and the internet, and thousands of jobs for America.” Source: US Senate Investments: According to a June 2024 filing , Sheehy has an investment between $1,001 and $15,000 in Intercontinental Exchange, which offers futures contracts on cryptocurrencies. Steve Daines, Republican Steve Daines has been in the US Senate for 10 years, assuming office in 2015. In recent years, he has become a proponent of the crypto industry, rubbing elbows with industry bigwigs like Bitcoin ( BTC ) evangelist and Strategy CEO Michael Saylor and receiving a Digital Future Award from the Crypto Council for Innovation. Daines (right) receives a crypto industry award. Source: Steve Daines Investments: In a November 2024 filing, Daines reported selling shares in cryptocurrency-related exchange-traded funds (ETFs). They included Valkyrie Bitcoin and Ether Strategy ETF, Vaneck Bitcoin Strategy ETF, Proshares Bitcoin Strategy ETF, Bitwise Crypto Industry Innovators ETF and Proshares Bitcoin Strategy ETF. Nevada Jackey Rosen, Democrat Senator Jacky Rosen is currently serving her second term in office, first getting elected to the Senate in the 2018 midterm elections. Her platform states that blockchain and crypto are “ushering in a new era for the digital economy,” stating that Washington needs to develop solid legal frameworks to keep up. Source: US Senate Investments: According to a July 24 filing , Rosen has an investment in PayPal. The payments giant first launched its stablecoin in April 2023 . Alaska Dan Sullivan, Republican Senator Dan Sullivan is currently in his second term, first taking office in January 2015. While not as outspoken as his colleagues about cryptocurrencies and blockchain technology, he co-sponsored the GENIUS Act and supported a joint resolution with the House of Representatives to change accounting standards for crypto companies. Source: US Senate Investments: According to an August 2024 filing , Sullivan owns shares in BlackRock, which offers crypto-centered ETFs. Oklahoma Markwayne Mullin, Republican Senator Markwayne Mullin took office in January 2023 after winning a special election against Democrat Kendra Horn in 2022. Before assuming office, Mullin lauded crypto as a potential retirement investment and said his state could offer Bitcoin miners favorable terms. While in the Senate, he has supported GENIUS and the repeal of Staff Accounting Bulletin (SAB) No. 121. Source: US Senate Investments: As of an August 2024 filing, Mullin owns shares in Intercontinental Exchange and BlackRock, while his wife owns shares of PayPal. Alabama Tommy Tuberville, Republican Senator Tommy Tuberville is currently serving his first term in the US Senate, first getting elected in 2020. While in office, Tuberville has come out in support of crypto. In April 2025, he introduced a bill letting Americans put crypto in their retirement funds. He has also vocally supported the establishment of a Bitcoin reserve. Source: Tommy Tuberville Investments: According to a July 2024 filing , Tuberville has investments in PayPal. Katie Britt, Republican Senator Katie Britt was first elected to the Senate during the 2022 midterms. While campaigning, she accepted donations in cryptocurrency from donors. In 2024, she advocated to “Get Gensler Out” of the Securities and Exchange Commission, saying that the Biden administration was stifling innovation. Source: US Senate Investments: Britt’s husband has common stock in crypto-friendly payments firm Block, according to a July 2024 filing . Ohio Bernie Moreno, Republican Bernie Moreno is new to the Senate, securing his seat in the 2024 federal elections. While on the campaign trail and in the Senate, Moreno called for more favorable regulations for the industry. In January, he supported President Donald Trump’s “day-one” nomination of Paul Atkins to head the SEC. Source: US Senate Investments: According to an August 2024 filing, Moreno owns between $500,000 and $1 million in shares in online trading platform eToro, which offers crypto trading services. West Virginia Shelley Capito, Republican Senator Shelley Capito has served in the Senate since 2015. During her tenure, she raised concerns about how cryptocurrencies could be used for terrorism financing. Her voting record is crypto-friendly; she supported both the GENIUS Act and the joint resolution to repeal SAB 121. Source: US Congress Investments: According to a May 2024 filing, her husband had between $15,001 and $50,000 invested in BlackRock. Pennsylvania Dave McCormick, Republican Senator Dave McCormick, who previously served as under secretary of the treasury for international affairs under President George W. Bush, is a first-term senator, getting elected in 2024. While campaigning, McCormick boosted his state’s Bitcoin mining industry. Industry figures like Coinbase CEO Brian Armstrong have also spoken out in favor of his position on crypto. Source: US Congress Investments: A March 2025 filing shows a number of purchases in the Bitwise Bitcoin ETF. Rhode Island Sheldon Whitehouse, Democrat Sheldon Whitehouse is the senior senator of his state, serving in Congress since 2011. In the last several years, he has raised concerns over the energy consumption of Bitcoin mining, as well as the potential for Russia to use crypto to evade US sanctions. He has voted against the GENIUS Act and co-sponsored the Digital Asset Anti-Money Laundering Act of 2023, which Stand With Crypto rated as “very anti-crypto.” Source: US Congress Investments: According to an August 2024 filing , Whitehouse has investments in Tesla, Block and PayPal. All investments are between $1,001 and $15,000. This list is not exhaustive; there are plenty of companies in which lawmakers invest that are affected by cryptocurrency price movements and market effects. It also does not include any members of the House of Representatives, where crypto regulation is similarly in the works. Lawmakers will likely become more interested in investing in crypto as it becomes more mainstream and potential obstacles to congressional investments flounder and fail to move forward.

22 May 2025, 13:51

Bitcoin Price Analysis: BTC Shatters $110,000, Sets New All-Time High

Bitcoin (BTC) smashed its previous all-time high and crossed the $110,000 mark for the first time. The flagship cryptocurrency had teased a move higher earlier in the week when it briefly crossed $107,000. BTC is up nearly 4% in the past 24 hours as it tests the waters above $110,000. BTC’s rally puts the flagship cryptocurrency in uncharted territory as it enters a period of price discovery. Bitcoin hit an intraday high of $111,726 earlier in the session before retreating to current levels. Bitcoin (BTC) Surges To New All-Time High Bitcoin (BTC) shattered the $110,000 level and surged to a new all-time high of $111,726 as market sentiment improved. The flagship cryptocurrency had teased a move past this level earlier in the week as markets recovered from the trade war and tariff-induced selloffs. Bitcoin’s rally was driven by several factors, including easing trade tensions, clarity around tariffs, and Moody’s downgrade of US sovereign debt, prompting investors to seek alternative investments. Antoni Trenchev, co-founder of digital asset trading platform Nexo, stated, “Now that January's high has been surpassed - and the 50 percent upside from April's lows has been achieved - bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment.” Market watchers also highlighted growing institutional interest and participation as another driver of the rally. JP Morgan CEO Jamie Dimon, a longtime crypto skeptic, recently said the bank would allow its clients to purchase Bitcoin. Coinbase was also added to the S&P 500 index, further boosting investor sentiment. “We're still in year four of the bitcoin price cycle - the year after the bitcoin halving when miner rewards are slashed in half - which historically means its best days are still ahead of it and - while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards.” What’s Behind The Bitcoin (BTC) Rally? BTC soared past its previous all-time high, set at the beginning of the year, rising to $111,726 after registering a sharp increase of above 4% in the past 24 hours. Bitcoin has risen over 23% in the past month, posting a sharp reversal from April’s downturn. The flagship cryptocurrency’s rally mirrors the ongoing recovery in US equities despite Wednesday’s selloff. The S&P 500 has risen 15% since late April, while the Nasdaq is up over 21%. Analysts have attributed the increase to growing optimism about President Trump’s trade policies and easing trade tensions between the US and China. Texas Approves Bitcoin Reserve Bill Texas is close to becoming the third US state to establish and manage a Bitcoin reserver after the Texas Strategic Bitcoin Reserve and Investment Act, SB 21, was approved by the House of Representatives with a vote of 101-42. The bill will now be sent to Governor Greg Abbott for approval. The bill authorizes the state comptroller to invest in Bitcoin and other cryptocurrencies with a market cap of over $500 billion over the past 12 months. Bitcoin is the only asset that meets this criteria. The bill also directs the creation of a formal Bitcoin reserve and positions the state to diversify its financial strategy by investing in digital assets. If signed, Texas will join New Hampshire and potentially Arizona to become the only US state to establish a Bitcoin reserve. However, governors in Arizona and Montana voted to block similar proposals, citing extreme volatility in the crypto markets. Bitcoin (BTC) Price Analysis Bitcoin (BTC) rallied to a new all-time high after finally crossing $110,000 and reaching $111,726. The move was driven by growing optimism around crypto regulation, institutional interest in BTC , and easing trade tensions. A broader rally in the US markets also buoyed investor sentiment. James Butterfill, head of research for crypto-focused asset manager CoinShares, stated, “The rally was also helped along by broader macro concerns, including Moody’s recent downgrade of U.S. sovereign debt, which added to the narrative of Bitcoin as a hedge against fiat instability.” There have also been positive developments for crypto on the regulatory front, with the GENIUS Act, a key bill for stablecoin regulation, clearing a key procedural vote in the Senate. Spot Bitcoin ETFs have also registered steady inflows, according to analysts. BTC started the previous week in the red, dropping over 1% on Monday and settling at $102,728. The price recovered on Tuesday, registering an increase of 1.36% and settling at $104,123. BTC was back in the red on Wednesday, registering a marginal decline and settling at $103,568. The price plunged to an intraday low of $101,459 on Thursday as selling pressure intensified. However, it rebounded from this level to register a marginal increase and settle at $103,816. Price action turned bearish on Friday and Saturday as BTC registered marginal declines and settled at $103,235. Despite the selling pressure, BTC recovered on Sunday, rising over 3% to cross $106,000 and settling at $106,489. Source: TradingView The price plunged to an intraday low of $102,135 on Monday as selling pressure intensified. However, it rebounded from this level to reclaim $105,000 and settle at $105,572, ultimately registering a decline of nearly 1%. Market sentiment turned bullish on Tuesday as BTC rose 1.21% and settled at $106,854. The price continued to push higher on Wednesday, rising 2.57% to cross $109,000 and settle at $109,604. BTC surged to an intraday high of $111,726 during the ongoing session. The price is currently up nearly 2% and trading at $111,540. Analysts believe BTC’s rally could continue as it enters a price discovery phase. The immediate target is $115,000, but a move past this level could see the price reach $120,000. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

22 May 2025, 13:41

Crypto Tax Filings Nearly Double in Finland, But Majority Remain Undeclared

Key Takeaways: Crypto tax filings in Finland nearly doubled in a year, but only a fraction of holders report trades. Authorities are ramping up enforcement, including asset seizures and cross-border crackdowns. Garantex exchange was dismantled after processing $96B linked to illicit activity since 2019. The number of Finnish taxpayers reporting cryptocurrency trades has nearly doubled, rising from 8,200 to 16,000 in just one year, according to local media outlet Uutissuomalainen . Despite the surge, the figure still pales in comparison to the estimated 300,000 Finns believed to hold digital assets. In last year’s filings, declared crypto-related gains reached €230 million, with losses totaling €30 million—both significantly higher than the combined €50 million declared two years ago. Finland’s Crypto Boom Outpaces Tax Compliance The data points to rising engagement in crypto markets, but also highlights the gap between actual ownership and compliance. Since May 2019, Finland’s Financial Supervisory Authority (FIN-FSA) has been responsible for overseeing the country’s crypto sector, including exchanges and wallet providers. Under Finnish law, all crypto service providers operating domestically must register and comply with financial regulations. The latest numbers suggest enforcement and awareness are growing—but full transparency remains elusive. In January, Finnish police seized around $2.68 million worth of luxury watches from Hex founder Richard Schueler, also known as Richard Heart, as part of an ongoing investigation into tax fraud and assault. The 20 high-end watches, mostly Rolexes, were discovered in a residence in Espoo and are believed to belong to Schueler. Authorities used intelligence efforts to trace the abandoned collection, with purchases made in both Finland and the U.S. Eight of the watches were officially confiscated, according to Inspector Harri Saaristola, who is leading the investigation. In March, the US Justice Department, in coordination with Germany and Finland, dismantled the online infrastructure of Garantex , a cryptocurrency exchange accused of facilitating money laundering for criminal and terrorist organizations. The exchange, which has processed at least $96 billion in cryptocurrency transactions since 2019, has been taken offline following law enforcement action. Denmark Considers Taxing Unrealized Crypto Gains Denmark’s Tax Law Council has proposed a bill that would tax unrealized gains and losses on crypto holdings, potentially starting in 2026. The recommendation is detailed in a 93-page report and suggests a unified tax model for all digital assets. The council evaluated three frameworks for crypto taxation: capital gains, warehouse taxation, and inventory accounting. This initiative mirrors a growing international shift toward stricter tax enforcement on crypto and other financial assets. Italy is also tightening its stance. Vice Economy Minister Maurizio Leo recently announced plans to raise the capital gains tax on cryptocurrencies from 26% to 42% , specifically citing Bitcoin. The post Crypto Tax Filings Nearly Double in Finland, But Majority Remain Undeclared appeared first on Cryptonews .