rubyw7137 pfp

rubyw7137

@rubyw7137

199 Following
222 Followers
rubyw7137 pfp
rubyw7137
@rubyw7137
“We need regulatory clarity and improvements that embrace onchain as an open platform to unlock this for everyone,” Pollack added.
0 reply
3 recasts
5 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
In April 2020, economist and research associate of the University of California Ricardo Perez-Truglia conducted the study “The Effects of Income Transparency on Well-Being: Evidence from a Natural Experiment,” which analyzed the consequences of the policy.
0 reply
2 recasts
15 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
The threat to crypto holders from the Skattelister is not the only negative consequence of financial transparency.
0 reply
1 recast
12 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Mellerud believes that the Skattelister system has effectively curbed corruption and ensured tax compliance. However, he noted that its original purpose was facilitated by a time when the internet did not exist, making the information harder to access.
0 reply
1 recast
9 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
There are no local political discussions about removing the Skattelister. “It is such an integrated part of our system that I think it will never go away,” said Mellerud.
0 reply
1 recast
8 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
However, Norway’s Skattelister system, which publicly discloses individuals’ tax information, has existed since 1814. The cultural emphasis on transparency is entrenched in Norwegian culture, but Mellerud believes “most don’t understand the dangers and other privacy implications of the Skattelister.”
0 reply
1 recast
7 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Mellerud argues that the state should not publish anyone’s wealth and income, whether they are crypto hodlers or not.
0 reply
1 recast
7 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
The privacy concerns and risks have prompted some citizens, like Finnish digital nomad and CEO of Sovereign Landing Jaakko Multanen, to leave the country. Despite not being wealthy enough to be included in the Finnish version of Norway’s Skattelister, he said the issue was enough to make “returning not even a consideration,” as shared on X.
0 reply
1 recast
5 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Norway publicly discloses the total income, net wealth and taxes paid of all taxpayers, with data readily accessible online. Sweden and Finland publish narrower income data focused on the latest capital gains tax, with Finland focusing primarily on high earners. Unlike Norway, both countries restrict access to wealth information, though the press often compiles and reports lists of top earners.
0 reply
1 recast
4 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
In the Scandinavian region, neighboring countries also place a cultural emphasis on openness and equality through financial transparency, with similar but more limited versions than the Norwegian Skattelister.
0 reply
1 recast
4 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
While the information is already public, Mellrud criticized the local media for the irresponsible practice of publicizing the list. “Newspapers are going way over their line in their desperate search for clicks” as they “feast on this material” for at least two weeks after the governmental publications.
0 reply
1 recast
3 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Analyzing unrealized profits among Bitcoin whales, meanwhile, fellow CryptoQuant contributor Darkfost saw little cause for concern.
0 reply
2 recasts
2 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
These speculative investors tend to react more suddenly to BTC price moves.
0 reply
1 recast
1 reaction
rubyw7137 pfp
rubyw7137
@rubyw7137
In particular, the round numbers $110,000 and $120,000 are upside targets, thanks to the effect that crossing them will have on short-term holders (STHs).
0 reply
1 recast
1 reaction
rubyw7137 pfp
rubyw7137
@rubyw7137
Nayib Tracker, a platform dedicated to tracking the country’s Bitcoin investments, reports that El Salvador holds 6,180 BTC. The tracker estimates the average purchase price at $44,739.88 per Bitcoin, meaning the country is up 122% based on current market prices.
0 reply
3 recasts
12 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Since then, El Salvador has continued to acquire Bitcoin. On Nov. 17, 2022, Bukele announced a dollar-cost averaging (DCA) strategy, committing to buy one Bitcoin daily.
0 reply
2 recasts
12 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
El Salvador was the first country to adopt Bitcoin as a legal tender. On Sept. 7, 2021, the country’s Bitcoin Law came into effect, officially making BTC a currency legally recognized for financial exchanges within El Salvador. On Sept. 6, the government also purchased its first 200 BTC.
0 reply
1 recast
12 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Bukele’s latest update shows the country has spent nearly $270 million on Bitcoin since its initial adoption of the cryptocurrency. The portfolio shows no Bitcoin has been sold, and unrealized gains now exceed $333 million.
0 reply
2 recasts
12 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
Salvadoran President Nayib Bukele highlighted the country’s unrealized gains from its Bitcoin investments on social media after the cryptocurrency surpassed $100,000 for the first time.
0 reply
1 recast
11 reactions
rubyw7137 pfp
rubyw7137
@rubyw7137
The frog-themed memecoin experienced a historic rally during November 2024, along with many other cryptocurrencies, following the electoral victory of Donald Trump on Nov. 5.
0 reply
1 recast
9 reactions