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The euro zone economy is expected to grow only modestly next year, despite wage growth outpacing inflation for the first time in three years, according to a survey of economists by the Financial Times.Almost two-thirds of the 48 economists surveyed by the FT said the single currency area was already in recession (usually defined as two consecutive quarters of contraction in gross domestic product from the previous quarter). He said he thinks there are.”I wouldn't call this a full-blown recession. Rather, we would still characterize this as stagnation,” said Paul Hollingsworth, chief European economist at BNP Paribas. “Furthermore, we expect…

Local media reported that the Japanese government has approved a 2024 tax reform aimed at exempting companies from paying taxes on unrealized gains if they hold virtual currency assets for the long term. report.Nikkei and Coin Post report On Saturday, the Cabinet approved amendments that apply to companies that own virtual currencies issued by third parties on Friday.Currently, profits and losses for third-party issued virtual currencies held by companies are calculated based on the difference between the market value and the book value at the end of the fiscal year. According to media reports, the proposed amendments will stipulate that…

Crypto industry followers with an eye on the UK may recall the positive messaging coming from British authorities throughout 2023. Speaking at the London launch event of venture capital firm Andreessen Horowitz, which has invested heavily in cryptocurrencies, Chancellor Rishi Sunak said his intention was to “make the UK the Web3 capital of the world.” This comes roughly a year after the British government (while Sunak was still Chancellor of the Exchequer) announced plans to “position the UK as a global hub for cryptocurrency technology and investment.”Additionally, the Bank of England recently published a lengthy regulatory proposal aimed at safely…

Billionaire Tim Draper has updated his outlook on Bitcoin (BTC), saying he sees major crypto integration coming to the flagship digital asset. In a new interview with Coin Bureau, the venture capitalist likened BTC to Microsoft, saying that the platform will serve as the primary platform for developers within the industry to launch new technologies, effectively consolidating cryptocurrency use cases. Furthermore, Draper said he believes that, in the same way that Microsoft created programs like Word and Excel, BTC developers will eventually create versions of the more popular technologies that are released on other crypto protocols. “what happened [with Microsoft]…

On a crisp day in early December, Robinhood CEO Vlad Tenev and head of cryptocurrencies Johan Kelblatt sit in their lower Manhattan office penthouse, which has a wall-sized window. I was sitting on a blue sofa. It came two days before Tenev, wearing Nikes with a purple Swoosh, and Kerblat, wearing a navy button-down, formally announced the expansion of Robinhood's crypto operations into the European Union. For the past two years. Depending on the level of skepticism about the broader industry, the move overseas was either perfectly timed (Bitcoin's price has nearly tripled since the beginning of the year) or…

On a crisp day in early December, Robinhood CEO Vlad Tenev and head of cryptocurrencies Johan Kelblatt sit in their lower Manhattan office penthouse, which has a wall-sized window. I was sitting on a blue sofa. It came two days before Tenev, wearing Nikes with a purple Swoosh, and Kerblat, wearing a navy button-down, formally announced the expansion of Robinhood's crypto operations into the European Union. For the past two years. Depending on the level of skepticism about the broader industry, the move overseas was either perfectly timed (Bitcoin's price has nearly tripled since the beginning of the year) or…

Stay informed with free updatesJust sign up for euro area economy myFT Digest — delivered straight to your inbox.Economists say a decline in public spending is expected to dampen eurozone economic growth next year as the eurozone moves into an era of fiscal restraint, putting pressure on rate-setters to ease monetary policy.EU finance ministers this week agreed new fiscal rules to replace strict but difficult-to-enforce budget constraints that have been suspended since the pandemic began in 2020.The measures agreed with Brussels will gradually tighten spending controls, forcing highly indebted countries to come up with plans to reduce their debts and…

The latest reports that Revolut is restricting its cryptocurrency offering to UK companies has raised many questions about the UK's plans to embrace the digital currency industry. Meanwhile, with the newly introduced Market for Cryptocurrency (MiCA) regulations, the neighboring European Union is attracting many international cryptocurrency companies.Revolut has not made any official confirmation; City AM reported that it is suspending the ability to purchase cryptocurrencies for business-to-business customers on Revolut Business, citing an email from the fintech company.Revolut confirmed the authenticity of the report, stating: “These requirements are intended to enhance the customer journey and provide additional protection for new…

Revolut has temporarily suspended the ability to purchase cryptocurrencies for business customers in the UK. The suspension will come into effect on January 3, ahead of new rules from the Financial Conduct Authority coming into force on January 8, according to an email seen by Blockworks. Other Revolut customers will not be affected by the suspension. The FCA has introduced requirements for investing in crypto assets, and Revolut says that “the requirements aim to enhance the customer journey and provide additional protection for new and existing investors in crypto assets.” Ta. “This suspension does not affect your ability to hold…

Following a crackdown on crypto advertising in the UK, Revolut will suspend some crypto services for UK business customers from early next year. The suspension will prevent Revolut's UK business customers from purchasing crypto assets through Revolut for a limited period from January 3rd. However, it is possible to hold or sell cryptocurrencies through Revolut Business. This suspension does not affect Revolut's retail customers, who can continue to buy and sell cryptocurrencies. Revolut did not say how long the suspension would last, but said it would continue until Revolut's cryptocurrency offering complies with the new rules. Earlier this year, the…