[News Brief] Apr 22, morning | El Salvador Applies 0% Tax Rate to Bitcoin Gains and Foreign-Sourced Income

Strategy CEO: Sale of 32 BTC Was Meant to Reduce Market Impact and Test Internal Procedures

According to Wu Blockchain, Strategy CEO Phong Le said in a CNBC interview on June 11 that the company’s sale of 32 BTC was intended to reduce market impact and test internal selling procedures.

Le explained that the tax loss generated from the sale could be used to offset related taxes. He added that the sale was not intended to fund dividend payments, and that other financing methods could be used for dividends.

He also noted that the company could choose to sell Bitcoin if it determines that doing so would benefit common shareholders.

El Salvador Applies 0% Tax Rate to Bitcoin Gains and Foreign-Sourced Income

Reports say El Salvador is applying a 0% tax rate to Bitcoin gains and foreign-sourced income, requiring only a 90-day residency condition.

According to @pete_rizzo_, the measure is seen as part of the country’s ongoing Bitcoin-friendly policy aimed at attracting foreign capital and investors.

El Salvador has previously pursued crypto-friendly policies, including adopting Bitcoin as legal tender.

Bitcoin Mining Difficulty Expected to Drop 9.55% in About 8 Hours

Wu Blockchain, citing The Mining Mag, reported that Bitcoin mining difficulty is expected to decline by around 9.55% in about eight hours.

This would mark the second-largest downward adjustment of the year, and BTC production per unit of active hash rate could increase by more than 9%. Mining hashprice may also rise back above $30 per PH/s.

Earlier in June, network hash rate dropped sharply amid price weakness. Lower profitability, shutdowns of older mining machines, and the reallocation of power capacity to high-performance computing and AI data centers were cited as key reasons for the decline in hash rate.

Ethereum Foundation-Linked Researcher: Quantum Readiness Possible Without a Hard Fork

According to Wu Blockchain, Nico of the Ethereum Foundation privacy project Kohaku said Ethereum accounts can be prepared for the age of quantum computing without a hard fork.

Nico said the deployment cost of the proposed account-level protection solution is about $0.07 per account. The design has completed an initial review by Fable, and further audits are expected.

The proposal is aimed at strengthening account security against the long-term risks that quantum computing could pose to existing cryptographic systems.

Electronic Signing Ceremony for US-Iran Related Agreement Scheduled for June 14

Pakistan’s Foreign Ministry said in a statement on the 13th that an electronic signing ceremony for a related agreement between the United States and Iran is scheduled for June 14.

According to Odaily, Pakistani Deputy Prime Minister and Foreign Minister Ishaq Dar spoke with Saudi Foreign Minister Faisal bin Farhan on the same day and welcomed the fact that the US-Iran negotiations have entered their final stage.

Both sides expressed hope that the progress would contribute to long-term peace and stability in the region. The Saudi side also recognized Pakistan’s efforts in supporting mediation and dialogue.

UK to Ban Imports of Petroleum Products Refined in Third Countries Using Russian Crude

The UK government said it will ban imports, no later than January 1, 2027, of diesel and jet fuel refined in third countries from Russian crude oil.

The move is part of strengthened sanctions aimed at indirectly blocking Russian energy imports. The UK has already gradually expanded restrictions on imports of Russian crude oil and petroleum products.