BNB falls below the $900 mark

The South Korean Tax Tribunal has made a re investigation ruling on a gift tax dispute involving the transfer of Bitcoin through a spouse's overseas exchange account. Taxpayer A will sell 67 bitcoins stored in Ledger through the transfer of spouse B's account, and the tax authorities will determine it as a gift and impose taxes. A claims that the asset is held by an individual and gives 13 bitcoins as compensation to their spouse. The court believes that A did not provide sufficient evidence such as a memorandum of agreement during the investigation period, and the distribution method of 80 bitcoins is consistent with A's statement. Therefore, it is necessary to re investigate the actual ownership of the hardware wallet and the substantial ownership of the digital assets.

According to AASTOCKS, the Secretary for Financial Services and the Treasury of Hong Kong, Patrick Hui, stated that the Hong Kong Monetary Authority has issued stablecoin issuer licenses to two institutions with banking backgrounds in April this year. The regulated stablecoins issued by these institutions are expected to be launched gradually from mid year to the second half of the year. Licensed issuers are required to deposit their reserve assets in Hong Kong banks and invest in qualified assets such as bank deposits and high-quality, high liquidity bonds. The government and the Securities and Futures Commission will submit a bill to the Legislative Council this year to establish a more comprehensive regulatory system for virtual asset trading, custody, advisory and management services.

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Bank of Japan Governor Kazuo Ueda stated that he will consider the timing and pace of interest rate hikes while assessing the impact of the Middle East conflict.

Bitcoin "OGs" have slashed their selling activity to the lowest levels in nearly two years.