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Former White House Economic Advisor Suggests Suriname Presidential Candidate Maya Parbhoe Adopt Bitcoin 🇸🇷 A former White House Economic Advisor recently proposed that Maya Parbhoe, a presidential candidate in Suriname, consider adopting Bitcoin as part of her economic strategy. The advisor described Bitcoin as a "brilliant innovation," suggesting that it could provide significant economic benefits for Suriname. This recommendation highlights Bitcoin’s growing appeal globally, especially for countries looking to diversify their economic systems and leverage new technologies to drive financial inclusion and economic development. Why is Bitcoin Being Suggested? Bitcoin has been gaining traction as an alternative form of currency that operates outside of traditional banking systems. Its decentralized nature allows for greater financial sovereignty, and its adoption can offer several advantages: 1. Financial Inclusion: - Many developing countries like Suriname face challenges in terms of banking access, where a large percentage of the population remains unbanked. Bitcoin, being digital and decentralized, allows anyone with an internet connection to participate in the global financial system, providing financial access to underserved populations. 2. Stabilizing the Economy: - Suriname, like many emerging economies, has faced issues with inflation and a lack of financial stability. Bitcoin, with its fixed supply and immunity to inflationary policies, can act as a hedge against currency devaluation. This could be particularly useful for countries that struggle with volatile national currencies. 3. Boosting Investment: - Bitcoin can attract international investment by offering a secure, transparent, and borderless form of investment. As the global economy becomes more interconnected, countries adopting Bitcoin can position themselves as more attractive destinations for cryptocurrency and blockchain-based investments. 4. Innovation and Modernization: - The former White House Economic Advisor referred to Bitcoin as a "brilliant innovation." By adopting Bitcoin, Suriname could position itself as a forward-thinking nation embracing technological advancements in the financial sector. This could bring both technological expertise and global attention to the country, signaling its readiness for the future. 5. Reducing Dependency on Traditional Financial Systems: - Bitcoin’s decentralized nature removes the reliance on traditional financial institutions, such as central banks and commercial banks, that might be seen as corrupt or inefficient. This allows countries to maintain greater control over their financial systems and avoid external influences like international monetary policies that may not always align with local economic needs. Implications for Suriname: If Maya Parbhoe were to adopt Bitcoin as part of her platform and economic policy, Suriname could see several potential outcomes: 1. Economic Stability: - With the potential to use Bitcoin as a store of value, Suriname might be able to protect its economy from global inflationary pressures, especially if its national currency continues to struggle. 2. New Opportunities for the Youth - The younger generation in Suriname could have greater access to international markets, digital jobs, and crypto-related industries. The integration of blockchain technology and cryptocurrency education could open doors to new employment opportunities and entrepreneurial ventures in the tech space. 3. Global Recognition: - Suriname could garner attention from the global cryptocurrency community, which could lead to new trade partnerships and alliances. Being one of the early adopters of Bitcoin could also allow the country to establish itself as a leader in cryptocurrency adoption in the Caribbean and South America. Potential Challenges: While the adoption of Bitcoin offers numerous benefits, it also comes with its own set of challenges: - Regulation and Legal Framework: - Suriname would need to implement proper regulatory frameworks to ensure that Bitcoin is used legally and responsibly within the country. - Volatility: - Bitcoin’s price is notoriously volatile, which could pose risks to businesses and consumers who might use it as a store of value or a medium of exchange. - Infrastructure and Education: - Suriname would need to invest in the infrastructure and education needed to integrate Bitcoin into its economy effectively. This includes expanding internet access, educating the public, and ensuring that people can safely use Bitcoin. Conclusion: The suggestion for Maya Parbhoe to adopt Bitcoin represents an exciting opportunity for Suriname to explore innovative ways to tackle economic challenges and provide financial empowerment to its citizens. While Bitcoin offers numerous advantages, including financial inclusion, stability, and investment, the country would need to carefully navigate the regulatory and infrastructural requirements for successful integration. If implemented correctly, Bitcoin could indeed be a "brilliant innovation" that helps Suriname modernize and strengthen its economy. Bitcoin’s growing global adoption and its potential to serve as a financial lifeline for developing countries like Suriname highlight the transformative power of decentralized currencies in reshaping the global financial landscape.

Unexpected volatility has swept through crypto markets following the Trump crypto reserve announcement. Initial excitement soon led to market declines amid doubts about the plan’s specifics. Matt Hougan, CIO of Bitwise Asset Management, contends that current trading behavior demonstrates a misinterpretation, overshadowing the positive long-term implications for digital assets. Bitwise CIO’s crypto insights assert that in the initial spike and subsequent correction, Bitcoin climbed from $85,000 to $95,000 and then fell back, representing a focus on immediate impacts. In his memo, “The Market Has This Wrong: Thoughts on Trump’s Strategic Crypto Reserve,” he insists that even with a problematic initial introduction, the proposal signals a significant change in government acknowledgment of crypto’s strategic importance. The Market’s Misjudgment of Trump’s Crypto Plan Matt Hougan emphasizes that discussions around the exact cryptocurrencies planned for the reserve might obscure a more important development. While some analysts question the logic behind the selection of Bitcoin, Ethereum, Solana, XRP, and Cardano, with figures like Coinbase CEO Brian Armstrong and Bitwise CEO Hunter Horsley advocating for a simpler Bitcoin-only approach and less likely to upset some groups, Bitwise CIO’s crypto insights view the announcement as inherently favorable for the crypto space. According to Hougan, including diverse cryptocurrencies shows a lack of a fixed position. Instead, they are part of an evolving discussion within Washington rather than expressing something concrete. Hougan stated that the arrangement is still provisional, emphasizing that “What we are seeing is the first step in a broader crypto strategy,” implying that this initial selection marks the beginning of a larger strategic vision. The Bigger Picture: Strategic Implications of the Reserve The discussion surrounding the selected cryptocurrencies aside, Bitwise CIO’s crypto insights emphasize that the Trump crypto reserve announcement and the shift in the U.S. government Bitcoin strategy have important geopolitical ramifications. By framing Bitcoin and cryptocurrency broadly as assets of strategic importance, Trump could be inducing similar strategies in other countries. El Salvador and Bhutan have previously adopted Bitcoin policies; Hougan suggests nations such as Mexico or Honduras could now face additional incentives to act similarly. Furthermore, Hougan contends that a U.S. government cryptocurrency reserve is unlikely to be sold. Citing precedents with assets such as gold reserves, Hougan notes a pattern of long-term government stewardship over strategic resources. Thus, once digital assets enter into government hands, they could remain held for many years. Evolution of the Reserve and Future Prospects While generally positive about its potential, Hougan also recognizes the possibility of unexpected shifts in the reserve’s structure based on market dynamics and political maneuvering. Over the next few weeks, a period of focused advocacy is expected as influential figures in the cryptocurrency sector push for a refined reserve allocation, which might lean towards prioritizing Bitcoin. The forthcoming White House Crypto Summit, led by David Sacks, will be crucial for guiding policy. This event presents an opportunity for industry representatives to influence the administration, potentially making the reserve strategy more traditional in its constitution. This conservatism could manifest in greater emphasis on Bitcoin relative to alternative assets such as Cardano or Solana. A Bullish Signal Despite Short-Term Doubts Hougan advises those involved in the market to prioritize the long-term effects of the U.S. government’s Bitcoin strategy, formally acknowledging digital assets as strategic possessions rather than concentrating on immediate fluctuations in price. He argues that preoccupation with minor oscillations masks the overall significance: The action indicates a notable turning point in crypto’s path toward wider validation. Though Trump’s proposed strategic reserve specifics are unclear, Hougan expects the eventual repercussions to benefit the crypto sector significantly. He anticipates ongoing instability as authorities settle on precise implementations. Still, investors should concentrate on a larger prospect: a scenario in which Bitcoin and other digital assets gain approval. The post Crypto Market Got It Wrong? Bitwise CIO’s Crypto Insights Discuss Why Trump’s $100B Crypto Reserve Plan Is Misunderstood appeared first on Coinfomania.

In a historic development, the White House has indicated its support for the repeal of the IRS DeFi broker rule. The December 2024 regulation, which defined “broker” to include decentralized finance (DeFi) platforms and subjected them to strict reportage requirements, has been faulted for stifling innovation and intruding into people’s private lives. The administration’s approval is in sync with congressional efforts led by Senator Ted Cruz and Representative Mike Carey to repeal the regulation. The decision is a policy pivot towards DeFi regulation, balancing the imperative of compliance and taxation and supporting development in this sector. Congressional Pushback and Industry Response The crypto industry, accompanied by friendly legislators, organized a collective front to challenge the IRS’s regulation of DeFi brokers. The Blockchain Association, which has over 75 actors, implored Congress to cancel the regulation in February of 2025, terming it a regulation overreach. Senator Ted Cruz submitted a resolution under the Congressional Review Act (CRA) to cancel the regulation, which he asserted was outside congressional intent and could stifle innovation in the DeFi market. The move in Congress was a sign of the growing political strength of the cryptocurrency market and its potential to mobilize in defense of perceived regulation overreach. White House Approval of the Repeal Efforts White House Crypto and AI Advisor David Sacks, in a big move, has declared that it strongly supports congressional repeal of the IRS DeFi broker rule. The administration is in agreement with concerns that the regulation can suppress American innovation and is also concerned with privacy in that taxpayers’ private data has to be disclosed. The administration’s decision to lend its support is one of balancing compliance and facilitating development in the DeFi sector. The decision is in harmony with champions in the sector, and this is one step towards more mature regulation in the rapidly evolving digital asset sector. A Pivotal Moment for DeFi Regulation The approval of the CRA resolution for the repeal of the IRS DeFi broker rule by the White House is a milestone in regulating decentralized finance (DeFi). It underscores the necessity of implementing a policy that is mindful of the unique character of DeFi platforms but not excessively burdensome in compliance. The move of the Senate to bring this resolution to a vote has significant implications for future regulation of America’s DeFi. Success in repealing could pave the way for targeted regulation that encourages innovation while making compliance easier and ensuring consumers are protected. Failure to repeal could foreshadow stricter regulation, which could slow the development of the DeFi ecosystem. Navigating the Future of Crypto Regulation The debate on the repeal of the IRS DeFi broker rule is reflective of the integration of regulation and innovation in the crypto sphere. Tax compliance is necessary, but regulations should not go to the point of stifling emerging technologies. The expression of White House approval of the repeal of this regulation is in line with recognizing there is a call for a well-crafted policy to facilitate growth while ensuring public interest. The future of digital assets is unfolding, and policymakers now find themselves having to design structures that can regulate innovation while not undermining regulatory purposes. The end product of this legislative process will serve as a lead for future regulation of cryptos in America and how America can capitalize on decentralizing technologies. It is necessary to achieve this harmony in order to ensure America continues to remain in its position of preeminence in financial innovation and to ensure investors’ and consumers’ interests. The ongoing interaction of policymakers and industry experts will be part of designing a regulatory environment conducive to compliance and innovation. The post White House Shocks Crypto World: David Sacks Backs Repeal of the IRS DeFi Broker Rule appeared first on Coinfomania.

Bitcoin (BTC) has been on a wild ride, recently experiencing a sharp drop before bouncing back above $90,000. After reaching an all-time high (ATH) near $110,000, BTC has struggled with increased selling pressure, leading to a pullback that tested the $80,000 support level. With BTC price now hovering around $91,000, traders are left wondering— will Bitcoin crash below $80,000 , or is this just a temporary correction before a new ATH rally? Let’s analyze BTC’s key levels, indicators, and potential price movements to determine the most likely scenario. Bitcoin’s price action suggests that $80,000 has acted as a strong support level, with buyers stepping in aggressively to prevent further downside. The latest bounce above $90,000 indicates some bullish recovery, but BTC still needs to break above $95,000-$97,000 to confirm a reversal. If Bitcoin maintains its momentum and closes above $95,000, it could signal a shift toward a renewed bullish phase, with the next key resistance near $100,000-$105,000. However, if BTC fails to reclaim these levels, it may face another drop back to $85,000 or lower. The Relative Strength Index (RSI) is currently at 47, indicating that BTC is neither overbought nor oversold. However, just a few days ago, RSI dipped into the oversold region below 30, which triggered the recent price bounce. If RSI climbs above 55-60, it would indicate strengthening bullish momentum, potentially pushing BTC toward $100,000 . On the other hand, if RSI drops back below 40, it could suggest another wave of selling pressure. The Heikin Ashi candles are showing a slight shift in trend, with green candles forming after a series of strong red ones. If BTC can sustain this bullish momentum, we may see a continued recovery in the coming days. For Bitcoin to reclaim its bullish structure , it must break and hold above $95,000-$97,000, which is the first resistance zone. If BTC price successfully crosses this barrier, it will open the doors for a move toward $100,000-$105,000, where major resistance is expected. A confirmed breakout above $105,000 would likely set the stage for BTC to challenge its previous ATH near $110,000. However, failure to break $95,000 could result in another pullback, leading to a retest of the $80,000-$85,000 support zone. If Bitcoin loses the $80,000 support level , the next critical zone to watch is $75,000-$77,000, which could act as a short-term demand zone. A break below $75,000 would signal deeper trouble, potentially dragging BTC price down to $70,000 or even $65,000. While a crash below $80,000 seems unlikely unless a macro-level catalyst triggers panic selling, traders should closely monitor Bitcoin’s daily closes to confirm if the bullish momentum is fading. Bitcoin’s price action suggests that $80,000 is a strong support level, but for BTC to confirm a bullish trend, it must break above $95,000-$97,000 and hold. If BTC clears $100,000, we could see another rally toward $110,000 and beyond. For short-term traders, waiting for a breakout confirmation above $95,000 would be ideal. Meanwhile, long-term investors might view dips toward $80,000-$85,000 as potential accumulation zones.

Japan proposes new crypto rules, potential tax cuts and ETF approval Astar (ASTR) founder Sota Watanabe announced on X that Japan’s ruling party has proposed regulating crypto under a new framework within the Financial Instruments and Exchange Act. If passed this year, it could lead to crypto ETF approvals and lower taxes from 55% to 20%. Cryptocurrencies would also be classified as a new asset type, not securities. Watanabe called it a major win for the industry, highlighting strong cooperation between the government and industry leaders.