PseudoIntellectual

The essay discusses the rapid maturation of the cryptocurrency market post-2025, particularly the incorporation of Bitcoin by local governments as a public asset. It highlights strategies for regulatory compliance, custody challenges, and the implications for market psychology and institutional adoption. The potential scenarios for future digital asset integration and the importance of transparent governance are also examined.

On May 22, 2010, a transaction executed by programmer Laszlo Hanyecz came to symbolize the 15-year journey of cryptocurrency. The event of purchasing two pizzas with 10,000 Bitcoins is not just a rare story, but records the moment when Bitcoin transformed from "experimental code" to "practical value."
From vanished tens of dollars to hundreds of thousands of dollars today
At that time, the value of 10,000 Bitcoins was only a few tens of dollars. It was about $0.004 per BTC, almost negligible. The amount paid for the pizzas was a very natural transaction given the market sentiment at the time.
However, over time, the valuation of Bitcoin changed dramatically.

As the number of cryptocurrency (Bitcoin, Ethereum, etc.) holders increases, the question of "what happens to taxes when you make a profit" is rapidly gaining attention. In reality, the tax system for cryptocurrencies is significantly different from that of stock investments or FX trading, and continuing to trade without understanding these differences could lead to unexpectedly high tax burdens.
This article explains everything investors need to know about cryptocurrency taxes based on the latest 2025 tax regulations, from basic knowledge to practical filing points and common misconceptions.
Four Timing Points When Taxes Are Incurred in Cryptocurrency Trading
The first important point is "when are taxes levied?" A common misconception is "until I convert to yen."

If you keep an eye on the market conditions in 2025, one word should frequently come to mind—Tokenization. The trend that has begun to attract the attention of BlackRock, the Dubai government, and even central banks is driven by the concept of RWA. While cryptocurrencies remain assets on the blockchain, RWA involves digitizing real-world value—potentially transforming the very nature of finance.
So, why is there such intense focus right now? And what is important for investors? Let’s delve deeper.
What is RWA: The Convergence of Reality and Cryptocurrency
The definition of Real World Assets (RWA) is simple. Real estate, bonds, commodities, art—physical assets in the real world

Vitalik Buterin's recent paper, "Balance of Power," highlights the structural challenges in the cryptocurrency industry, emphasizing the need for decentralized governance alongside business models to prevent power centralization and systemic risks.

Index provider MSCI is brewing a major policy adjustment, planning to remove listed companies with more than 50% of their assets in cryptocurrencies from its indices. This technical change could trigger systemic risks and serve as a catalyst for significant adjustments in the cryptocurrency market.
Mechanism risk behind the policy
This is not merely a rule adjustment but a forced reallocation of institutional funds. As a leading global index provider, MSCI's trackers include thousands of passive funds and ETFs. Once a company is removed, these funds must adjust their holdings in the short term, regardless of their own views.
Analysis by the organization BitcoinForCorporations indicates that approximately 39 listed companies could be affected, with a total market value of $113 billion. The estimated capital outflow ranges between $10 billion and $15 billion—this capital will not exit gradually but will be forced to exit immediately.

Bitcoin's price remains stagnant between $86,000 and $90,000, with diverging investor sentiment due to decreased U.S. demand and strong mining cost support. Analysts suggest potential bullish signals but caution against premature bottom calls.

When traveling abroad for business trips or vacations, whether you can communicate smoothly on-site is an important point. When choosing an overseas ESIM or SIM card, many people may wonder, "Which one is ultimately the most usable?" and "What is the balance between cost and speed?"
This time, we have tested 10 popular overseas ESIM and SIM card services based on actual usage scenarios. We have organized the features of each service from three axes: affordability, communication speed, and difficulty of speed restrictions. Please use this as a reference to choose a service that suits your usage pattern.
Three Evaluation Axes for Choosing Overseas ESIM Services
The key points to keep in mind are as follows.
Evaluation Axis ①: Cost-effectiveness
From short-term trips to long-term stays,

The outline for the 2026 tax reform by the ruling party was decided on the 19th, clearly indicating a major review of the tax system for cryptocurrency transactions. Going forward, certain qualifying cryptocurrencies will be subject to "separate taxation," and a new deduction system allowing losses to be carried over for three years has also been confirmed.
Disparity in tax burdens between cryptocurrencies and financial products under the current system
In Japan, profits from cryptocurrency transactions are currently classified as miscellaneous income and are subject to comprehensive taxation together with salary and business income. As a result, the tax rate, including resident tax, can reach up to 55%, leading to a significantly heavy burden on taxpayers.
In contrast, existing financial products such as stocks and investment trusts are taxed at approximately 20%.

Entering the world of technical analysis, the RSI indicator is often the first important tool investors encounter. As one of the most widely used analytical instruments in the market, RSI can help you gain a deeper understanding of market momentum changes. So how exactly does RSI work? How should we respond to common phenomena like divergence and damping? This article will give you a comprehensive understanding of this powerful analytical tool.
The Core Principle of the Relative Strength Index
RSI (Relative Strength Indicator) is a technical analysis tool that measures the comparison of recent buying and selling forces in the market. It determines the trend of market bullishness and bearishness by comparing the magnitude of upward and downward movements of a stock over a specific period.
Compared to complex indicators like MACD, RSI's calculation method is relatively simple, requiring only basic mathematical operations. Because of this ease of use, RSI has gradually become

Return on Investment (ROI) is a key metric that every investor should master. Whether it's stocks, forex, or cryptocurrencies, understanding how to correctly calculate and apply the ROI formula can help you make smarter investment decisions. This article will use examples and comparative analysis to help you comprehensively understand this important measure of returns.
The Core Logic of the ROI Calculation Formula
ROI is a financial indicator that measures the profit from an investment relative to the capital invested, usually expressed as a percentage. In simple terms, it reflects how much profit you can make from each dollar invested.
The basic logic of the ROI formula is: ROI = (Investment Income - Investment Cost) ÷ Investment Cost × 100%
In this formula, the numerator represents net profit (or net loss), and the denominator is the initial investment amount. Understanding this logic is crucial.

The status of the US stock market in the global financial market is unshakable, and every sharp fluctuation it experiences will stir up waves in the global capital markets. As a market indicator, a significant decline in US stocks often signifies the concentrated release of market risks. But what are the true driving forces behind these declines? How do they transmit to bonds, gold, commodities, and cryptocurrencies? How can ordinary investors detect signals in time before a crash? This article reveals the true face of stock market crashes through a retrospective review of history and an in-depth analysis of market logic.
From a historical perspective: the seven landmark events of major US stock declines
Investors often say "history repeats itself," and the major declines in US stocks over the years indeed follow certain similar logic. Here are some of the most representative events in the past century:
1929-1933 Great Depression: An extreme case of market out of control

Crude oil, as one of the most traded commodities globally, holds a central position in the international commodities market. Many investors seek to participate in crude oil investment through diversified channels. Currently, the main ways to enter include futures, funds, ETFs, oil stocks, and options. Among these, crude oil ETFs are popular among retail investors due to their ease of operation, but investors also need to understand the advantages and disadvantages of each method. This article will explore the complete ecosystem of crude oil investment, covering the characteristics of different investment tools, product comparisons, and risk management strategies.
Comparison of Multiple Crude Oil Investment Channels
Beyond directly holding physical crude oil, investors face multiple options. Each method has its own unique thresholds, risks, and return characteristics.
Futures Trading: A Traditional Choice with High Liquidity
Crude oil futures are considered one of the most traded commodity trading methods in the market, second only to spot trading. This is because most individual investors are unable to manage

Many people new to investing often ask the same question — can forex trading really make money? The answer actually depends on whether you truly understand this market. The world's largest financial market has a daily trading volume of over $6 trillion, far surpassing the stock and futures markets, but this also means opportunities and risks coexist.
In the past, forex investment was only accessible to financial institutions and high-net-worth individuals. Today, with technological advancements and platform democratization, ordinary retail investors can also trade forex through retail brokers. Data shows that over 30% of global forex trading comes from retail traders, including a surge in users of derivatives such as Contracts for Difference (CFDs). However, statistics also indicate that 70%-90% of individual forex investors experience losses, which is why learning the correct trading methods is crucial.
Three Entry Paths into Forex Investment
Before starting forex trading, you should first understand the three main participation methods, along with their risks

In cryptocurrency or stock trading, technical analysis is a must-have skill for many investors. Among them, the RSI indicator is popular among beginners because it is easy to learn and use. However, knowing how to read charts and actually use indicators are worlds apart. Today, we will delve into the core logic of RSI, including its RSI formula, divergence signals, and how to break through the frustrating dulling phenomenon.
What is RSI? Understanding from the basics
The core idea of the Relative Strength Index (RSI) is quite straightforward: by quantifying the strength comparison between buying and selling forces in the market, it helps determine the timing of trend reversals.
Simply put, RSI answers a question: in recent times, which has been stronger—the upward momentum or the downward momentum? If the upward momentum is stronger, the market is optimistic; if the downward momentum is stronger, the market is pessimistic.

Want to achieve steady profits in the Hong Kong stock market? First, you need to understand the trading hours. This article will provide a detailed breakdown of the 2025 Hong Kong stock trading hours, special rules for the half-day trading session, holiday market closures, and trading details during opening and closing periods.
Hong Kong Exchanges and Clearing Limited (HKEX) Basic Information
HKEX is the only securities exchange in Hong Kong, with the stock code: 0388.HK. As one of the top ten exchanges worldwide and among the top three in Asia, HKEX has ranked first globally in IPO fundraising seven times over the past 13 years.
HKEX operates several subsidiaries, including the Hong Kong Stock Exchange, Hong Kong Futures Exchange, and Hong Kong Central Clearing Company Limited, responsible for stock, options, futures trading, and clearing services. Notably, HKEX is a public company, with the Hong Kong Special Administrative Region as its largest shareholder, regulated by the Hong Kong Securities and Futures Commission to ensure compliance.
Hong Kong Stock Normal Trading Hours and Detailed Rules

Gold began its upward cycle in October 2023, climbing for 13 months to reach $2,700, then accelerating past the $4,000 mark. According to a Reuters survey of market analysts, the average price for the full year of 2025 is forecasted to be around $3,400, with potential to further rise to $4,275 in 2026. Facing this rally, investors' most common concerns are: Is it still a good time to enter now? Is it worth buying at such high prices? Should I immediately add to my position during a dip?
This article will analyze the underlying logic behind gold's new highs, forecast future trends, and reveal the most suitable entry points from fundamental and technical perspectives to help you make more informed investment decisions.
Why can gold reach record highs? The three core drivers
Gold itself does not generate interest income; its price changes are entirely driven by supply and demand imbalances. The fundamental reason for supply and demand imbalance is that investors (

Price Targets Signal Significant Upside Potential
Recent projections from major financial institutions and industry leaders paint an ambitious picture for Bitcoin by 2030. Standard Chartered bank forecasts the leading cryptocurrency could reach $500,000, while prominent figures including

Since the sharp decline last week, the movements of the three major coins are diverging. The market is at a crossroads, deciding whether it can break out of the short-term correction phase or if further declines will continue. The strength of spot buyers and whether the technical support levels can hold are key variables determining the future direction.
Bitcoin: The battle to defend $90,000 is crucial, "Short-term further decline vs. technical recovery" dilemma
Bitcoin(BTC) has been highly volatile since early this week. It tested the $90,000 level multiple times and rebounded to $91,140, but remains unstable.
From the lowest point last week at $74,508(April 7),