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(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
MISSOURI BILL ENDING CAPITAL GAINS TAX HEADS TO GOVERNOR FOR SIGNATURE
Missouri will become the first US state to eliminate the levy if Governor Mike Kehoe signs the bill into law.
Missouri House Bill 594, a bill that would eliminate capital gains tax in the state, has passed a vote in the House of Representatives and now heads to the governor’s desk.
According to attorney Aaron Brogan, the bill stipulates a 100% income tax deduction for any capital gains income because Missouri’s tax code does not explicitly distinguish between capital gains and income tax.
Brogan compared the bill’s structure to the federal SALT deduction, but called it “the inverse, which I have never seen before.”
The bill’s timing is notable as it follows proposals from President Donald Trump to overhaul the federal income tax system through comprehensive reform.
Trump proposes eliminating federal income tax in the United States
Trump has proposed offsetting or eliminating federal income tax, replacing it with revenue from import tariffs.
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“When Tariffs cut in, many people’s income taxes will be substantially reduced, maybe even completely eliminated… The focus will be on people making less than $200,000 a year,” Trump wrote on April 27 via Truth Social.
He added this would incentivize factory jobs to return to the US by avoiding import duties on finished products.
However, market reaction has been overwhelmingly negative:
- Stock markets lost trillions following tariff announcements.
- Crypto markets shed hundreds of billions in value.
- Bond yields spiked, signaling investor flight from US debt.
@ Newshounds News™
Source: CoinTelegraph
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COINBASE ACQUIRES CRYPTO DERIVATIVES EXCHANGE DERIBIT FOR $2.9 BILLION
Today Coinbase confirmed it has agreed to acquire Deribit, the largest crypto options exchange, for $2.9 billion, including $700 million in cash with the balance in stock.
Deribit may not be the number one overall in crypto derivatives, but it is the world leader in crypto options. It currently has more than $30 billion in open interest. Coinbase already has a derivatives subsidiary, which is particularly active in perpetual futures, so Deribit complements this well. The acquirer claims the combination will make it the derivatives market leader.
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“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” said Deribit CEO Luuk Strijers. “As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand.”
Beyond market position, Coinbase highlighted financial benefits, noting that Deribit will help to even out its earnings by diversifying revenue streams because options earnings are less cyclical compared to spot.
Deribit was founded in the Netherlands but operated out of Panama for several years, before moving recently to Dubai. A key driver was to provide regulatory certainty to its institutional clients, which make up 80–90% of its client base.
The transaction is expected to close by the end of the year, subject to regulatory approvals.
@ Newshounds News™
Source: Ledger Insights
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Source: Dinar Recaps
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