Gate Crypto Flash News and Market Updates

U.S. Representative reintroduces the “Digital Asset Protection Act,” revises the treatment of cryptocurrency taxation, removes the tax-exempt threshold for small transactions, clarifies the conditions for recognizing gains from stablecoin transactions, and sets rules for determining cost basis. Industry expects the bill to drive the inclusion of crypto provisions in tax legislation.

Gate News: According to the latest Gate TradFi data, XUNCE (XUNCE 03317.HK) has dropped by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Gate News message, April 14, Scroll released an important proposal for protocol governance, planning to dissolve the Security Council and transfer protocol management permissions to the Scroll Admin multisig address. The transition is expected to be completed within the next ten days. Scroll said that the operating costs of the Security Council are no longer reasonable compared with the actual usage in the past few quarters, and the related resources should be better used for product development and growth. Scroll will work with major stakeholders to explore a new Security Council structure that is more suitable for current market conditions.

Gate News message: According to the official announcement, the Gate TradFi Stock Trading Zone has launched 15 stock CFD pairs for Tencent, Meituan, Xiaomi, Kuaishou, AIA Insurance, Geely Automobile, Zhipu, MINIMAX, Xunce, Lenovo, Kangfang Bio, CITIC Shares, Rongchuang China, China Biopharmaceutical, Anta Sports, all of which support 4x fixed leverage, with a minimum order quantity of 0.1. In addition, the Gate TradFi FX Trading Zone has launched 6 foreign-exchange CFD pairs: EUR/Hungarian Forint, USD/Hungarian Forint, USD/Indonesian Rupiah, USD/Indian Rupee, USD/Thai Baht, and USD/New Taiwan Dollar. All pairs support 20x fixed leverage, with a minimum order quantity of 0.01.

Trump’s net worth is estimated at $6.3 billion, up about 60% before his return to the White House. This growth is mainly driven by his family’s expansion into overseas real estate deals and the cryptocurrency sector. Government ethics experts say they are concerned and believe there may be conflicts of interest. The White House and the Trump Organization deny such claims.

Gate News message, April 14, on the X platform, product leader Nikita Bier posted that the crypto industry has gone through a difficult year, and perhaps some products should be introduced to improve the current situation.

Gate News message, April 14, Citi Group’s strategists raised their rating for the U.S. stock market from "Neutral" to "Buy," aligning with the views of other analysts on Wall Street. Citi said that heightened uncertainty in the war situation has made investors more inclined to choose companies with higher quality and stronger defensiveness. Based on the principles of a "quality/defensive tilt," Citi adjusted its global asset allocation. Meanwhile, Citi downgraded its emerging market stock rating from "Buy" to "Neutral," saying these markets are more vulnerable to energy shocks, and that a stronger U.S. dollar puts additional pressure on them.

On April 13, Ethereum spot ETF net inflows reached $9.44 million, including a $5.78 million inflow into BlackRock’s Staking version ETHB and a $5.15 million inflow into Grayscale’s mini ETH. BlackRock ETHA and 21Shares TETH had net outflows of $4.07 million and $1.35 million, respectively, and the fund flows of the remaining products were zero.