Slovenia’s Finance Ministry proposed a 25% tax on crypto profits, stirring debate as the crypto market grapples with token crashes and regulatory shifts. From Binance outages to Trump’s financial setbacks, here’s a roundup of the week’s key events.
Slovenia’s 25% Crypto Tax Plan
Slovenia’s Finance Ministry unveiled a 25% tax on crypto gains, targeting fiat conversions and payments for goods or services, set to take effect January 1, 2026, if approved [Web ID: 0]. Crypto-to-crypto swaps and same-owner wallet transfers will remain tax-free. Minister Klemen Boštjančič called the current tax-free status of speculative crypto assets “illogical,” prioritizing fairness over revenue [Web ID: 15]. The proposal is open for public feedback until May 5, 2025, but opposition lawmaker Jernej Vrtovec warned it could drive talent and capital abroad, hindering Slovenia’s crypto-friendly potential [Web ID: 19].
OM Token Crash and Trump’s Losses
The OM token, a 2024 high-flyer, crashed over 90% in hours, raising questions about the cause and culprits. Meanwhile, Trump’s World Liberty Financial reported $145 million in paper losses on SEI tokens but bought more, signaling confidence. Tether also solidified its role as a top crypto lender, extending loans to major platforms.
Binance Outage and KiloEX Hack
Binance and other exchanges faced a major outage due to Amazon Web Services data center issues, halting trading. Separately, KiloEX offered a $700,000 bounty to a hacker who stole $7 million via an oracle attack. Bhutan turned to Bitcoin mining to tackle economic challenges and brain drain, showcasing crypto’s global impact.
Regulatory Updates: Russia, EU, and Kazakhstan
Russia’s tax service disclosed the number of legal miners, urging profit tax filings by April 25. The EU flagged dollar-backed stablecoins as a financial risk, predicting a tenfold growth in three years. Kazakhstan seized ₽144 million in assets from illegal miners posing as an engine repair service.
Belarus’s Digital Ruble and Coinbase Token Crash
Belarus plans to fully launch its digital ruble by 2026 to enhance payment security and cross-border transactions [Web ID: 0]. A Coinbase-backed token crashed 95% after being tokenized as an experiment, with the team denying liability. Coingecko’s 2025 report highlighted shifts in crypto prices and DeFi trends.
Trump’s Fed Clash and Market Dynamics
Trump’s Fed Clash and Market Dynamics
President Trump demanded Fed Chair Jerome Powell’s resignation, but Bitcoin held steady at $84,500 [Web ID: 1]. A crypto service faced closure for allegedly aiding Bybit hackers, while altcoins struggled with low liquidity, needing stronger market incentives.
