Global Hive Buzz

Swiss City Embraces Bitcoin and USDT for Tax Payments

Lugano, a city in Switzerland, has recently declared its acceptance of Bitcoin and Tether (USDT) as viable payment methods for taxes and various municipal services. Residents and businesses in Lugano now have the option to settle any city-issued bill using either of these cryptocurrencies.

Bitcoin Suisse plays a crucial role in facilitating Lugano's transition to crypto payments by providing the necessary technical infrastructure. Through the implementation of Swiss QR-Bill technology, the process becomes streamlined, allowing Lugano residents to conveniently scan a code on their bill and make payments using their preferred mobile crypto wallet.

Last month, Polygon introduced a payment app named MyLugano, providing residents of Lugano with a platform to pay taxes, parking fines, and other public services using cryptocurrency.

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SEC Extends Decision Timeline for Grayscale's Spot Ethereum ETF Application

The SEC has pushed back the decision deadline for Grayscale Investments' spot Ethereum ETF by 45 days, now set for January 25, 2024.

As outlined in the document, the Commission reserves the right to extend the review period if deemed necessary, providing justifications for such a decision, or with the consent of the self-regulatory organization.

In November, representatives from the SEC's trading and markets department met with Grayscale Investments to discuss the proposed conversion of Grayscale's publicly traded Bitcoin Trust into a Bitcoin spot ETF. Notably, the meeting included David Shillman, deputy director of the SEC's Division of Trading and Markets, responsible for overseeing U.S. equity, options, and fixed-income markets.

This Bitcoin Rally Shows Signs of a Shift. FOMO and YOLO Make a Comeback

Approximately two years ago, cryptocurrency prices reached their peak, with Bitcoin (BTC) nearly hitting $70,000. Subsequently, the market experienced a downturn, followed by more challenging periods that led to a significant drop, with BTC plummeting towards $15,000 in the aftermath of FTX's crisis.

While 2023 saw a rebound in prices, these gains felt hard-earned, with rallies often followed by setbacks. By mid-October, Bitcoin was hovering around $27,000. However, the market dynamics changed dramatically, driven by optimism surrounding Bitcoin ETFs and declining interest rates. Bitcoin recently touched $45,000 on Coinbase, surpassing the $40,000 mark seen just a few days earlier, a level last witnessed in early 2022.

A friend skeptical of crypto texted me on Tuesday, mentioning plans to buy more Bitcoin. Colleagues report hearing increased interest from individuals curious about crypto. Is this surge sustainable? Could crypto be reentering mainstream territory? The mood in crypto markets hasn't been this positive for two years – predating the collapses of Celsius, Voyager, Three Arrows Capital, FTX, Genesis, and others.

FOMO (fear of missing out), possibly blended with a dose of YOLO (you only live once), appears to be making a comeback.

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