PANews reported on October 3rd that Faraday Future founder Jia Yueting posted on the X platform: "The surge in the crypto market is due to the US Treasury's proposed relaxation of CAMT rules, which will no longer impose a 15% tax on unrealized Bitcoin gains held by companies like MicroStrategy. Previously, mark-to-market accounting standards taxed unrealized profits, sparking protests from MSTR and COIN, who called it unfair and detrimental to global competition. This is a huge boon for companies with treasuries. Long-term holding of crypto assets as a store of value and a hedge against fiat currency devaluation is gaining tacit approval and support from regulators. This will fundamentally change the asset allocation logic of large institutions. The C10 Treasury is positioned to become the core reserve of the Web3 financial system, essentially upgrading MicroStrategy's 'single asset' model to a more robust and diversified 'basket of assets' model."PANews reported on October 3rd that Faraday Future founder Jia Yueting posted on the X platform: "The surge in the crypto market is due to the US Treasury's proposed relaxation of CAMT rules, which will no longer impose a 15% tax on unrealized Bitcoin gains held by companies like MicroStrategy. Previously, mark-to-market accounting standards taxed unrealized profits, sparking protests from MSTR and COIN, who called it unfair and detrimental to global competition. This is a huge boon for companies with treasuries. Long-term holding of crypto assets as a store of value and a hedge against fiat currency devaluation is gaining tacit approval and support from regulators. This will fundamentally change the asset allocation logic of large institutions. The C10 Treasury is positioned to become the core reserve of the Web3 financial system, essentially upgrading MicroStrategy's 'single asset' model to a more robust and diversified 'basket of assets' model."
Jia Yueting: The surge in the crypto market may be due to the US's plan to relax CAMT regulations, and the C10 Treasury is positioned as a basket of assets.
PANews reported on October 3rd that Faraday Future founder Jia Yueting posted on the X platform: "The surge in the crypto market is due to the US Treasury's proposed relaxation of CAMT rules, which will no longer impose a 15% tax on unrealized Bitcoin gains held by companies like MicroStrategy. Previously, mark-to-market accounting standards taxed unrealized profits, sparking protests from MSTR and COIN, who called it unfair and detrimental to global competition. This is a huge boon for companies with treasuries. Long-term holding of crypto assets as a store of value and a hedge against fiat currency devaluation is gaining tacit approval and support from regulators. This will fundamentally change the asset allocation logic of large institutions. The C10 Treasury is positioned to become the core reserve of the Web3 financial system, essentially upgrading MicroStrategy's 'single asset' model to a more robust and diversified 'basket of assets' model."
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