2025-09-08 10:52:51
The Verkhovna Rada supported the crypto law in the first reading. Ethereum staking breaks records. Tether invests in gold. Revolut implements cloud technologies from Google
The Verkhovna Rada supported the legalization of cryptocurrency in the first reading
Deputies supported a bill that regulates the circulation of digital assets and establishes rules for their taxation.
According to the document, income from transactions with virtual assets is subject to taxation at the end of the year. The total rate will be 23% (18% income tax and 5% military tax). However, there is a concession for the first year — fiat withdrawals will be taxed at a rate of 5%.
The tax will not apply to:
- Exchanges of one cryptocurrency to another.
- Sales for an amount not exceeding the minimum wage.
- Assets issued during the issuance or transferred free of charge by the issuer.
According to Danylo Getmantsev, the head of the parliamentary committee, the implementation of the initiative could bring in approximately 14-15 billion UAH to the budget annually. He also noted that many amendments will be made to the bill before the next reading.
While the authorities are working on regulation, Ukrainians continue to actively invest in digital assets. In 2025, Ukraine ranked 8th in the global ranking of cryptocurrency use. Among the leaders on the list are India, the United States, Pakistan, Vietnam, and Brazil.
Tether considers investing in gold
Tether, a company specializing in the issuance of stablecoins, is in talks about investing in the gold mining sector. The company intends to invest part of its cryptocurrency business revenues in the precious metals market.
The stablecoin issuer is exploring options for participating in the entire supply chain — from gold mining and processing to trading and financing through specialized royalty companies.
Tether is already actively involved with gold. The issuer produces the XAUt token, whose price is pegged to the precious metal. Its total market value is approximately $880 million, which is several dozen times lower than the turnover of USDT ($168 billion). The company also holds gold bars worth $8.7 billion, using them as collateral for its digital assets.
Revolut has signed a multi-million dollar agreement with Google Cloud
Revolut, a British fintech startup, has signed a long-term contract with Google Cloud worth millions of dollars. The partnership will be part of the company's strategy to expand its customer base to 100 million users worldwide.
Google's cloud technologies will be used in all areas of Revolut's business, from internal processes to mobile applications. The company also plans to implement solutions based on AI and Gemini models to strengthen fraud protection and offer customers personalized financial products. It is expected that the collaboration with Google will allow the service to scale faster and stay ahead of traditional banks.
Demand for Ethereum staking hits two-year high
In early September, the number of applications for Ethereum staking reached 860,000 ETH (approximately $3.7 billion). This is a record high since 2023, when the Shanghai upgrade was introduced to the network, allowing users to withdraw previously frozen coins. By September 8, the queue had decreased slightly to 817,000 ETH, but it remains at a historically high level.
According to experts, the growth in interest is due to several factors: increased confidence in Ethereum as a long-term asset, the update of the price maximum in August ($4,946), a reduction in network fees (~0.2 Gwei), and high demand from institutional players. Public companies now control nearly 4% of the total ETH supply.
Currently, 35.7 million ETH, with a total value of about $162 billion, is locked in staking, which is equal to 31% of the total cryptocurrency supply. The price of Ethereum is $4,292, down 1% over the past 24 hours. ConsenSys analyst and founder Joseph Lubin believes that mass adoption of Ethereum will lead to a 100-fold increase in the price of the cryptocurrency.
Experts predict Solana will grow to $250 by the end of the year
The price of Solana cryptocurrency could rise to $215 as early as September and reach $250 by the end of 2025.
According to analysts, two key factors will support this growth: limited supply due to staking and growing interest from institutional investors. Corporate treasuries already hold more than $1.7 billion in Solana, which indicates a shift from speculation to long-term accumulation.
An additional driver will be the Alpenglow update, which will reduce transaction confirmation times from 12 seconds to 150 milliseconds. This will make the network one of the fastest among first-tier blockchains and increase its appeal to the DeFi sector. The update has already been supported by over 99% of validators.
As of September 8, 2025, the cost of Solana is $207.
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