The Bitcoin Red Team has been forced to rely on open source Chinese AI, after OpenAI restricted access. Thailand sets crypto tax to 0% in bid to become crypto hub.
For the next few years crypto investors in Thailand won’t have to pay any capital gains taxes on sales made via platforms licensed by Thailand’s Securities and Exchange Commission. The exemption is for five years and covers the period of January 1 2025, through to December 31 2029. The scheme aims to boost Thailand’s attractiveness as a regional crypto hub, and it’s already home to a growing community of crypto digital nomads However trades on unlicensed or overseas exchanges will still face standard personal tax rates as high as 38%. The exemption aligns the tax treatment of crypto with capital gains from traditional securities in the country.
Thailand previously waved 7% value added tax on crypto gains in early 2024.
Bitcoin Red Team founder Rob Hamilton has been forced to rely on open-source Chinese AI models after finding himself restricted from analyzing codebases by OpenAI, highlighting a growing concern that the most capable AI tools aren’t being made available to defenders.
“It absolutely guts me as a patriotic American to have to do this, but I will be going back to using Chinese open source models to conduct my research to protect Bitcoin infrastructure,” he said.
“Black hats will not hit these issues. The white hats will. We’ve hit a local minima in policy,” said Hamilton. “Intelligence is unrestricted for those who don’t follow rules, and those who engage in harm reduction are left on the sidelines.”
The Bitcoin Policy Institute and an alliance of blockchain firms subsequently issued a call to “frontier AI labs to establish a clear, trusted pathway for qualified open-source and digital asset defenders to access their strongest capabilities.”
— A man in Shenzen was convicted of attempted extortion after he stole confidential R&D data from his company and then posed as an overseas hacker to demand a ransom paid in Bitcoin.
A new report from Hashed Open Research and SCBX found that on-chain transaction volume across the Asia-Pacific region grew by 68% year-on-year, from $1.4 trillion to $2.36 trillion. It was the fastest growth of any region globally, driven mainly by countries in South East Asia.
The report found that consumers in the region had skipped straight from cash, over cards and bank transactions, and went directly to mobile payments. Digital payments now account for 60% of all payments in the region.
The US Senate’s delay of a vote on crypto market structure legislation to mid-September could give Hong Kong and Singapore more time to strengthen their positions as digital asset hubs, according to First Digital founder and CEO Vincent Chok.
Chok, whose company issues the FDUSD stablecoin, said the delay could give jurisdictions with clearer regulatory frameworks an advantage in attracting capital and talent as US uncertainty weighs on institutional adoption.
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