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Will A Dogecoin ETF Launch In 2025?

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The prospect of a Dogecoin ETF emerging in 2025 has gained attention, especially after the successful launches of Bitcoin and Ethereum ETFs in 2024. With crypto gaining more traction and a crypto-friendly administration in the White House, some experts believe that DOGE could follow in the footsteps of other digital assets. Being one of the largest meme coins, DOGE’s shift toward mainstream adoption has sparked discussions about its inclusion in the ETF market.

Will Dogecoin ETF Launch in 2025 as Crypto-Friendly Policies Gain Traction?

The increasing momentum around crypto ETFs has made Dogecoin a potential candidate for an exchange-traded fund. Despite its origins as a top meme coin, Dogecoin has grown in market capitalization, now ranking as the seventh-largest crypto with a valuation of $60 billion. 

Experts point to the success of Bitcoin and Ethereum ETFs in 2024 as a driving force behind optimism for the approval of a Dogecoin ETF. With a pro-crypto administration led by President-elect Donald Trump and figures like Elon Musk showing support for the digital asset, Dogecoin’s entry into the ETF space seems imminent.

Commenting on these speculations in a recent post on X, ETF store President Nate Geraci quoted a statement by  Bloomberg’s analyst Eric Balchunas stating,

“Today’s satire is tomorrow’s ETF.” Could we see a DOGE ETF in 2025? Maybe.”

A potential Dogecoin ETF could benefit from the evolving regulatory environment, especially with the U.S. SEC set to undergo leadership changes in 2025. Analysts suggest that Gary Gensler’s departure as SEC Chairman will pave the way for more crypto ETF approvals.

Price Surge Amid ETF Speculation

Dogecoin price has seen an uptick as speculations surrounding the possible launch of an ETF continue to grow. Following reports of a potential ETF filing, the Dogecoin price surged from $0.3986 to $0.43 in 24 hours, marking a 9% increase. 

Additionally,  Dogecoin price has shown promise in recent weeks, gaining more than 150% in November alone. Analysts are predicting that the DOGE price will reach $1 in December 2024, especially if it manages to break key resistance levels.

If DOGE manages to sustain its upward trajectory, a breakout above $0.50 could trigger more upside to $1 or higher by the end of the year.

Adding to the bullish outlook, Dogecoin whale moved over 1.1 billion DOGE, worth $445 million, in three large transactions. This significant accumulation signals growing confidence among major investors, fueling speculation of a potential price rally.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Regulation

Japan FSA Issues Warning To Bybit And 4 Other Exchanges, Here’s Why

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5 hours ago

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November 29, 2024

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Japan’s Financial Services Agency (FSA) has issued warnings to five overseas cryptocurrency exchanges, including Bybit Fintech Limited, KuCoin, MEXC Global, Bitget Limited, and Bitcastle LLC. These exchanges are accused of operating in Japan without proper registration, violating the country’s cryptocurrency regulations.

Japan FSA Issues Warning To KuCoin, Bybit, and Others for Violating Crypto Laws

According to a CoinPost report, Japan’s FSA has flagged five crypto exchanges for providing services to Japanese users without mandatory registration. The warned exchanges include KuCoin, Bybit, MEXC Global, Bitget, and Bitcastle. These platforms were engaging in crypto trading activities in Japan without authorization from the FSA or local financial bureaus.

Operating without registration raises serious concerns regarding the oversight of these platforms. Japan’s legal framework for cryptocurrencies ensures that registered exchanges adhere to strict compliance measures designed to protect customers. The unregistered top crypto exchanges bypass regulations, exposing users to significant financial risks.

Moreover, the FSA emphasized that unregistered exchanges lack regulatory supervision, making it difficult to manage operations responsibly. The absence of asset segregation poses a major issue, as platforms may mix customer funds with operational assets.

Users of unregistered platforms are also deprived of legal protections provided under Japanese law. In disputes or unexpected situations, such as insolvency or security breaches, customers are left without avenues for compensation. The lack of regulatory compliance leaves them vulnerable to potential losses.

Japan’s Legal Framework for Cryptocurrency Exchanges

Under Japanese law, any company offering cryptocurrency trading services must complete registration with the Japan FSA or a local financial bureau. This requirement ensures that the platforms operate within a robust regulatory structure. Registered exchanges must implement stringent safeguards for asset management and ensure transparent operations.

The Japan FSA’s warnings remind users to verify crypto platforms’ compliance status. Japan takes strict action to uphold consumer protection and maintain market integrity.

Additionally, this warning aligns with Japan’s broader strategy to tighten its grip on the cryptocurrency sector. According to a recent report, the government has restructured its Web3 leadership to enhance regulatory clarity and support innovation in digital assets. 

As Japan reclaims its leadership in the crypto and Web3 space, its regulatory approach will be critical to ensure user trust across the industry.

With the increased global regulatory outlook, the UK’s Financial Conduct Authority (FCA) announced plans to finalize comprehensive crypto regulations by 2026. This move will align with global leaders like Hong Kong and Singapore, addressing trading platforms, crypto lending, and stablecoins. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Russian President Putin Signs Game Changing Crypto Taxation Law

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10 hours ago

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November 29, 2024

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Russian President Vladimir Putin has signed the final law on crypto taxation while recognizing digital assets as property. This taxation law will also be applicable for currencies used for foreign trade settlements “within the framework of the experimental legal regime (ELR).”

Russian President Putin Exempts Bitcoin, Crypto from VAT

As per the new Russian regulations, mining and sales of digital currency won’t be subject to value-added tax (VAT). Furthermore, services related to transactions within the electronic payment system (EPR), including crypto, will not incur tax liabilities.

On the other hand, operators of crypto-mining infrastructure will need to notify tax authorities regarding users using their services for crypto issuance. Failure to submit this information in a timely manner could attract a fine of 40,000 rubles.

As per the document signed by Russian President Putin, cryptocurrency earned through mining will be classified for personal income tax purposes. The tax calculation will happen based on the market value of the currency at the time of acquisition. The draft law says that Russia will allow deductions for mining-related expenses.

Income from the acquisition, sale, or other transactions involving digital currency will be taxed under a two-tier system: a 13% rate for income up to 2.4 million rubles, and a 15% rate for income exceeding that amount. This income will be included in the same tax base as earnings from securities, bank deposits, and other sources. For corporate income tax, digital currency mining will be taxed at the standard corporate rate of 25%, set to take effect in 2025.

The development comes at a time when other markets such as Hong Kong plan absolute exemption of crypto taxation. As Hong Kong seeks to become Asia’s crypto hub, this move will likely attract more investor capital, especially from regions like China that have hostility towards digital assets.

Crypto Taxation Law Comes With Some Restrictions

The crypto taxation law introduced by Russian President Putin comes with some restrictions from organizations and individual businessmen engaged in cryptocurrency mining and sales. As per the new regulations, these entities won’t be eligible to switch to the simplified taxation system i.e. the single agricultural tax, or the “Automated Simplified Taxation System”.

Additionally, the patent system and the self-employed tax regime will not apply to digital currency mining and transactions. The law will come into effect on the date of its official publication, with certain provisions subject to different implementation timelines.

Ever since the Ukraine war, Russia has been leveraging Bitcoin to evade Western sanctions. At the BRICS summit last month, the member nations also had a discussion of using crypto for cross-border payments.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Coinbase ends USDC rewards in EU amid MiCA compliance

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11 hours ago

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November 29, 2024

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Coinbase pushes for court intervention to obtain SEC documents on crypto regulations
  • Coinbase plans to end support for USDC earn program for EU customers on December 1, 2024.
  • The exchange cites EU’s MiCA rules that go into full implementation on Dec. 30 for the decision.

Coinbase has notified its customers that the exchange plans to discontinue the USDC rewards program by Dec. 1.

Coinbase, which announced the delisting of non-compliant stablecoins in the European Economic Area earlier in the year, is taking this step to sunset the USDC Rewards program.

The program has been available to the EEA’s 30 countries – which includes 27 that form the EU. MiCA stablecoin laws’ rollout is the reason for Coinbase’s decision, the exchange noted in the update that circulated online on Nov. 28.

Marina Markezic shared the Coinbase announcement on X:

MiCA rules full implementation

According to details in the notice shared on X, Coinbase’s decision to end the yield program for the USDC stablecoin is part of the exchange’s effort to comply with the European Union’s Markets in Crypto Assets rules.

MiCA regulation of stablecoins went into effect in June, but the rules will come into full effect on December 30, 2024.

Various crypto companies and stablecoin issuers have moved to get EU registration and licenses ahead of MiCA full implementation. However, some industry players plan to delist certain stablecoins in the region. Notably, this also sees initiatives to launch EU-compliant fiat-backed coins.

Earlier this week, Tether, the issuer of the world’s largest stablecoin by market USDT, announced its decision to end support for Tether Euro (EURT). This is a Euro-pegged stablecoin that has also been delisted by other providers. Tether said it will halt EURT support until when there “a more risk-averse framework is in place.”

Tether chief executive officer Paolo Ardoino commented via X:

Tether is however investing in Quantoz Payments, a company issuing the MiCA-compliant stablecoins EURQ and USDQ.

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