SSV Network Prices Free Falling After Founder Joins Israeli Army, What’s Next?
Alon Muroch, the founder of SSV Network, has been drafted into the Israeli Army, according to an X post shared on October 10. Following this news, SSV, the native token of the SSV Network, fell 5%, dropping below the $14 mark. At this pace, SSV is moving closer to its all-time low of around $13.40, registered in September 2023. SSV Founder Getting Drafted In response to the ongoing crisis in the Middle East, Muroch stated that the situation on the ground is “much worse than described.” The founder said that being drafted into the army might help “tip the scale” and....
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It's no secret that Bitcoin represents a huge change in the way we exchange money and that this challenges established financial institutions. That has led to a noticeable amount of push-back from banks and governments. While the decentralized nature of Bitcoin means it cannot be shut down by any government or financial institution, such organizations can make it difficult for people to purchase the digital currency in the first place. That would effectively restrict access to the cryptocurrency. It appears that is happening to some degree in Israel, as reports from the Israel Army News....
Israeli lawmakers have proposed in a draft new law to treat bitcoin as a currency instead of an asset for tax purposes, local media reported. According to a report from Globes, four legislators from the Yisrael Beiteinu political party presented the Income Tax Ordinance (Taxation of the Sale of Digital Currencies) bill in the Israeli parliament Knesset on September 22. The bill by the four – MK Oded Forer, Yevgeny Soba, Yulia Malinovsky, and Alex Kushnir – proposes several changes to crypto taxation, including the amendment of the existing tax law to exempt digital assets like....
Israeli business newspaper Globes is reporting that the Israeli government is mulling the possibility of imposing a tax on profits from Bitcoin. The article states that the Israel Tax Authority is considering the move based on the idea that anyone who makes profits from Bitcoin owes taxes. It was unclear how exactly a tax on Bitcoin profits would be levied, though, as Israel has yet to even recognize Bitcoin as an official currency. Israeli Bitcoin exchange Bits of Gold’s CEO, Jonathan Rouach, suggests the tax authority is not prepared for the necessary paradigm shift to even know where to....
The Venezuelan Army has inaugurated a cryptocurrency mining center with bitcoin mining equipment aimed at generating “unblockable income,” as the country attempts to bypass U.S. sanctions. The crypto mining center has the support of the country’s crypto regulator, Sunacrip. Venezuela’s Army Starts Cryptocurrency Mining The Venezuelan Army’s cryptocurrency mining center was inaugurated on Nov. 19 by the 61st Agustín Codazzi Engineer Conditioning Brigade, according to local media. The inauguration was led by Bolivarian Army General Lenin Herrera,....
The entire supply of bitcoin will eventually go to the zealot DCA army, bringing enough fiat into BTC that fiat ceases to exist.