[News Brief] Apr 22, morning | EU Reviews Unified Tax Framework for Crypto Firms

EU Reviews Unified Tax Framework for Crypto Firms

PANews, citing Politico, reported that the European Commission is considering introducing an EU-wide unified tax framework for cryptocurrency firms during the new seven-year budget cycle from 2028 to 2034.

The Commission estimates that imposing a 0.1% tax on cryptocurrency transactions could generate 3 billion to 4 billion euros annually, while introducing a capital gains tax on crypto could raise 1 billion to 2.4 billion euros per year.

The proposal is part of broader tax measures aimed at securing funding for the EU’s common budget and is currently under negotiation among member states.

Aave Announces Full Recovery From rsETH Bridge Incident Impact

In its April 18 post-mortem on the rsETH incident, Aave said that Kelp’s rsETH LayerZero V2 cross-chain bridge accepted a forged message during a transfer from Unichain to Ethereum, causing the Ethereum-side adapter to release 116,500 rsETH.

According to Aave, no corresponding burn occurred on the Unichain side. Although the attack originated in third-party cross-chain bridge infrastructure, the attacker deposited the stolen rsETH into eight Aave V3 positions and borrowed 82,650 WETH and 821 wstETH, affecting Aave markets as well.

Aave said the attacker-held rsETH on Arbitrum has now been burned, and the LayerZero OFT adapter replenished 116,131.72 rsETH over five transactions. As a result, rsETH collateral has been fully restored, and the affected WETH and rsETH markets have returned to normal.

SpaceX Discloses Holdings of 18,712 Bitcoin

According to Wu Blockchain, Bloomberg reported on the 27th that SpaceX’s latest regulatory filing (S-1) shows the company holds 18,712 BTC.

The holdings are valued at approximately $1.3 billion, and SpaceX classified them as treasury reserve assets alongside cash or bonds.

The filing also indicated that SpaceX has not sold any of its bitcoin since the end of 2024. The market views this disclosure as another example of a major company maintaining a long-term bitcoin position.

JPMorgan CEO Strongly Criticizes the Clarity Act

According to Wu Blockchain, JPMorgan Chase CEO Jamie Dimon strongly criticized the Clarity Act in a Fox Business interview on the 29th.

Dimon argued that the bill would effectively allow interest to be paid on deposits at digital asset platforms and on stablecoins, while lacking sufficient safeguards related to anti-money laundering and the Bank Secrecy Act.

He said the banking industry would not accept it and vowed to oppose the bill to the end rather than give in to lobbying efforts led by Coinbase and its CEO.

$128.83 Million in USDC Transferred to Aave

According to Whale Alert, 128,791,822 USDC, worth about $128,837,157, was transferred from an anonymous whale wallet to Aave.

The move was identified as a large on-chain transfer, but the purpose and the entity behind the funds were not disclosed.

$128.80 Million in USDC Transferred From Aave to Anonymous Whale Wallet

According to Whale Alert, 128,763,947 USDC was transferred from Aave to an anonymous whale wallet.

The transaction was worth about $128,806,291. The purpose of the transfer and the owner of the receiving wallet remain unknown.

$219.97 Million in SUSDS Transferred to Justin Sun

According to Whale Alert, 200,347,000 SUSDS was transferred from an anonymous wallet to Justin Sun.

The transfer was worth about $219.97 million. Although it was a large on-chain movement, the specific purpose has not been confirmed.

$219.63 Million in SUSDS Moved From Poloniex to Anonymous Wallet

Whale Alert reported that 200 million SUSDS was moved from Poloniex to an anonymous wallet.

The transfer was worth about $219.63 million. Such a major fund movement has drawn market attention, with possible explanations including exchange liquidity changes or institutional wallet rebalancing.

U.S. Employment Data and Fed Remarks in Focus This Week

PANews reported on the 31st that investors are likely to focus this week on U.S. labor market data and remarks from Federal Reserve officials.

U.S. May nonfarm payrolls, the unemployment rate, and average wages will be released at 9:30 p.m. Korea time on June 5. Earlier, the April Job Openings and Labor Turnover Survey (JOLTs) will be released at 11:00 p.m. on June 3, the May ADP employment report at 9:15 p.m. on June 4, and the May ISM services PMI at 11:00 p.m. the same day.

The Federal Reserve will release the Beige Book at 3:00 a.m. on June 4. Remarks are also scheduled from Chair Jerome Powell, Minneapolis Fed President Neel Kashkari, and San Francisco Fed President Mary Daly, among other officials.

Earlier, markets reflected expectations for the reopening of the Strait of Hormuz and prospects for U.S.-Iran negotiations, leading to lower bond yields, weaker oil prices, and gains in major stock indexes. However, short-term volatility may increase as employment data could affect expectations for the Fed’s rate path.

Binance Teases New Product Launch on June 1

Binance has released a teaser image hinting at a new product launch.

According to PANews, Binance posted an image suggesting a new product debut on June 1. In the community, some speculate that the haystack shown in the image sounds similar to “Hey Stock,” suggesting the product could be related to U.S. stock investing services.

However, Binance has not yet disclosed specific details about the product.