DeFI News by Thebittimes.Com

Bitcoin (BTC), the top cryptocurrency, might reshape the US economy through a new proposal. Lawmakers are considering a plan to create a crypto tax-free zone. This idea might solve old problems with digital assets and help the US economy. This is a big change in economic policy, recognizing digital assets are becoming more important worldwide. It tries to solve problems with market swings and unclear rules that have troubled crypto and Bitcoin for a long time. Also Read: Solana: How Much SOL Is Needed To Have $1 Million By 2030? Exploring the Impact of a Crypto Tax-Free Zone on the US Economy The USABTC Proposal: A New Frontier for Digital Economy The USABTC policy group has proposed a bold plan to create a Bitcoin (BTC) tax-free Digital Economic Zone (DEZ) in the United States. This proposal aims to make the country a world leader in the digital economy while keeping the dollar’s key role. In this plan, traders would not pay capital gains tax on Bitcoin trades within the DEZ. How...

Billionaire real estate investor and CEO of Starwood Capital, Barry Sternlicht, has recently stated his expectation of one bank failure per week in the United States. Indeed, Sternlicht expressed his concern regarding more than 4,000 banks in the US amid the ongoing pressure of interest rates and inflation. Sternlicht noted that community and regional banks could be in for a treacherous time amid a host of macroeconomic factors. Subsequently, he noted that a regional bank could fail “every week, maybe two a week” in a recent interview with CNBC. Source: The Hill Also Read: US Stock Market Will Face a 30% Correction: Forecast Billionaire Real Estate Investor Expects Banking Struggles Throughout the year, the United States has been navigating an economy of increased frailty. Indeed, the Federal Reserve had enacted a two-year tightening campaign, increasing interest rates to combat high inflation. Now, the Central Bank has yet to cut rates, with many projecting dan...

Talks of an upcoming recession affecting the U.S. economy have been going on for a while now since 2020. Every year, analysts predict a recession but the U.S. economy comes out stronger and performs as expected. Inflation which stood at 8% last year has now cooled down to 3.1% but is still far off from the 2% mark to stabilize. Also Read: 5 U.S. Sectors To Be Affected If BRICS Ditches the Dollar For Trade The Feds’ hiking interest rate for three months simultaneously helped inflation to cool down in the U.S. However, data shows that the 2023 Christmas holiday season was very strong with consumer confidence rising by 6.4 points. Spending on restaurants rose by 8%, while online shopping climbed by 6%. These developments put the U.S. economy in a better position this year in 2024 and could experience real momentum. In this article, we will highlight why the U.S. economy could perform well in 2024. Also Read: Gold Prices To Experience a Historic Breakout In 2024: See the Ta...