News Roundup — Circle and Binance have announced a strategic partnership to drive global USDC adoption Copy

Major news stories this week;‍

1. Czech President Signs Law Exempting Capital Gains Taxes on Crypto Held for Three Years
2. Coinbase Secures Approval to Launch Crypto Exchange in Argentina
3. El Salvador Buys 12 Bitcoin in a Day, Bringing Reserve to 6,068 Btc
4. Blackrock to Launch Bitcoin ETP in Europe
5. Stablecoin Legislation Pushed as Trump Sets Crypto-Friendly Agenda

Story Summaries;

1. Czech President Petr Pavel has signed a bill exempting crypto held for over three years from capital gains tax, officially making it law. The bill, unanimously approved in December, also exempts transactions under 100,000 koruna (~$4,100) from reporting. This aligns with the EU’s MiCA framework and is part of broader financial reforms. Additionally, the Czech National Bank is considering allocating up to 5% of its €140 billion reserves to bitcoin for diversification.
2. Coinbase has gained approval to operate in Argentina, recognizing the country’s strong crypto adoption amid inflation. With over 5 million daily users, stablecoins dominate transactions. Matías Alberti will lead operations, and Coinbase plans financial literacy initiatives. Argentina is also advancing blockchain education and digital ID projects.
3. El Salvador has increased its Bitcoin holdings to 6,068 BTC, now worth over $554 million, after purchasing 12 BTC amid a market dip. Despite a recent $1.4 billion IMF deal requiring reduced government involvement in Bitcoin, the country continues to buy. Officials affirm plans to expand Bitcoin reserves, with further acquisitions expected in 2025.
4. BlackRock is set to launch a Bitcoin ETP in Europe, following the success of its US spot Bitcoin ETF, IBIT, which has amassed $57 billion in assets. The new fund will be based in Switzerland and marketed soon. This marks BlackRock’s first Bitcoin ETP outside North America, expanding its global crypto offerings.‍
5. Senator Bill Hagerty is introducing the GENIUS Act to regulate stablecoins, requiring issuers to back tokens with approved assets and submit audited reports. Co-sponsored by Senators Gillibrand, Scott, and Lummis, the bill places nonbank issuers under the OCC. With the stablecoin market at $205 billion, it aligns with Trump’s pro-crypto stance and recent support for dollar-backed stablecoins.

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And that’s all for last week’s news! Wishing you a great week ahead!