Multiple governments worldwide, including the United States, Iran, the Czech Republic, Argentina, and Russia, are showing increased openness to cryptocurrencies, signaling a significant shift in regulatory perspectives.
Russia Considers Bitcoin for National Reserve
In Russia, State Duma deputy Anton Tkachev proposed on December 9 that the government assess the feasibility of creating a strategic Bitcoin reserve to serve as an alternative in international trade amid sanctions. Tkachev emphasized that, with restricted access to traditional international payment systems, cryptocurrencies could become essential for Russia, potentially offering a hedge against inflation.
Iran and Cryptocurrency: A Tool Against Sanctions
On December 7, Nour News reported that Iran’s Minister of Economic Affairs and Finance, Abdolnaser Hemmati, announced plans to regulate digital assets. This move marks a pivot from previous stances aimed at limiting crypto’s domestic adoption, with Hemmati citing the potential for digital assets to circumvent tough economic sanctions. Additionally, local author Mohammad Sadegh Alhosseini highlighted that Iranians currently hold an estimated $30 to $50 billion in crypto assets, engaging in approximately $143 million in daily digital asset transactions.
Argentina Opens Doors to Crypto ETFs
Argentina is expanding its financial markets to include cryptocurrencies more broadly. On December 5, the Argentine National Securities Commission approved the creation of programs that allow local investors to access foreign exchange-traded funds (ETFs), including those based on virtual assets like Bitcoin and Ethereum. This initiative is set to align Argentina’s crypto investment opportunities with those available in the U.S.
Legislative Changes in the Czech Republic
The Czech Republic is also adapting its regulations to foster a friendlier environment for crypto investors. On December 6, Prime Minister Petr Fiala announced upcoming legislation that would exempt crypto investors from capital gains taxes on assets held for over three years and eliminate the need for reporting transactions under 100,000 koruna ($4,200). This legislation, which has passed the lower house, aims to simplify using cryptocurrencies for everyday transactions, like buying coffee, and to attract crypto businesses by easing banking access.