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Produced by Daniel Aharonoff & Mogul Media AI

Arizona Senate Considers Bitcoin ETFs for Retirement Plans

Arizona Senate Considers Bitcoin ETFs for Retirement Plans In a significant move towards modernizing retirement portfolios, the Arizona state senate is currently deliberating a bill that could pave the way for the inclusion of Bitcoin ETFs in the state's pension funds for government employees. This initiative, encapsulated in Senate Concurrent Resolution 1016, reflects a growing acknowledgment of the digital asset's potential within institutional investment strategies. Key Highlights of Senate Concurrent Resolution 1016 Sponsorship : The resolution is backed by state Senators Jake Hoffman and Warren Petersen, along with Representative Joseph Chaplik. Market Interest : It underscores the remarkable interest in Bitcoin and Bitcoin ETFs, particularly following the approval of 11 spot Bitcoin ETFs in January. Market Capitalization : Bitcoin boasts a staggering market cap exceeding \(1.3 trillion, while the total assets under management for firms pursuing Bitcoin ETFs have ...
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Produced by Daniel Aharonoff & Mogul Media AI

Impact of India's Unchanged TDS Policy on Crypto Industry

India’s finance minister, Nirmala Sitharaman, recently unveiled the budget announcement, which notably lacked any modifications to the contentious tax deducted at source (TDS) policy that has been significantly affecting the crypto industry. Despite the fervent lobbying from the domestic crypto sector and a think tank advocating for a reduction in TDS, the budget did not meet the expectations of those hoping for a change in the policy. The current 1% TDS levy has prompted numerous crypto traders to shift their transactions offshore, potentially depriving the government of substantial revenue. This decision, or rather lack thereof, has sparked concerns and discussions within the industry regarding its implications and the future trajectory of crypto trading in India.

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