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February 2nd - TSMCs 2nm production capacity has been fully booked by global tech giants. AMD plans to begin producing CPUs based on its 2nm process in 2026, while Google and AWS are reportedly planning to adopt this process in the third and fourth quarters of 2027, respectively. Furthermore, Nvidia plans to launch its "Feynman AI" GPU in 2028, which is expected to use TSMCs A16 process, featuring a rear-mounted power supply design.February 2nd - The China Automobile Dealers Association released its latest "Automobile Consumption Index" on February 2nd, 2026: the index for January 2026 was 31.1. Sales in February are expected to decline compared to January, as the market enters a slow season due to the Spring Festival holiday. The February automobile market is expected to enter a period of adjustment due to a combination of factors, including the long Spring Festival holiday, previous demand depletion, the reduction of purchase tax on new energy vehicles, and consumer expectations for post-holiday promotions and new product launches.February 2nd - Samsung Electronics and SK Hynix plan to convert their investments in cutting-edge NAND flash memory in the second quarter of this year. Samsung Electronics is discussing a conversion investment of approximately 40,000 to 50,000 wafers per month, with mass production expected to begin next year.On February 2nd, Puran Technology announced that during a roadshow, it stated that prices for small and medium-capacity NOR Flash products are currently showing a recovery trend. NOR Flash production capacity is interconnected; high-capacity products have higher unit value and consume more capacity. Coupled with the dual effects of supply shortages and demand stimulation, high-capacity products saw price increases earlier in this round, which are gradually spreading to small and medium-capacity products. The companys NOR Flash prices are currently maintaining a generally moderate upward trend. The company has already made reasonable price increases for some of its memory chip products. The company will continue to adjust product prices based on factors such as market supply and production costs. Currently, price adjustments vary across different regions and for different customers.On February 2nd, SAIC Motor announced that in January 2026, its total vehicle production reached 338,700 units, a year-on-year increase of 4.01%; sales reached 327,400 units, a year-on-year increase of 23.94%. Among these, new energy vehicle production reached 104,700 units, a year-on-year increase of 20.21%, and sales reached 85,374 units, a year-on-year increase of 39.73%; production at export and overseas bases reached 104,600 units, a year-on-year increase of 50.56%, and sales reached 104,500 units, a year-on-year increase of 51.68%.

Crypto industry disappointed as Australia looks to enshrine tax rules

Cory Russell

Oct 27, 2022 16:16

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The cryptocurrency sector expressed its disappointment on Wednesday with Australia's decision to keep classifying cryptocurrencies as assets for tax reasons rather than foreign currency.


In its budget presentation on Tuesday, the government said that it will submit laws to formalize the classification of virtual currencies like Bitcoin as assets.


This implies that when investors sell cryptocurrency via exchanges or engage in digital asset trading, they must pay capital gains tax on their earnings.


The law eliminates confusion that followed El Salvador's decision to declare Bitcoin legal cash in September of last year, according to the Australian government's budget release.


However, Australia said that central bank digital currency (CBDC), or cash issued by the government, would be considered as foreign money.


Approximately 90% of the central banks throughout the globe are currently utilizing, testing, or researching CBDCs. The majority are attempting to avoid falling behind Bitcoin and other cryptocurrencies but are having trouble due to technical challenges.


The budget shift, according to Mitchell Travers, the founder of blockchain consulting firm Soulbis and a former operator of cryptocurrency exchanges, is ambiguous and seems to be at conflict with government research into the sustainability of a CBDC.


Given that the Treasury is also investing in attempting to shift the traditional technology systems that support our financial system over to digital assets, Travers said it would be unwise for the government to really take an enforcement approach to the taxation of crypto assets in its early stages.


If they were to impose the taxation of digital assets and then introduce its own CBDC without precise specifications of what token corresponds to what tax classification, it would be an amusing paradox.

The Treasury said in August that it will prioritize "token mapping" work, which would assist determine how crypto assets and associated services should be regulated. The Australian crypto industry is mainly uncontrolled.


The sharp decline in cryptocurrency values caused El Salvador, which became Bitcoin legal money last year, to suffer significant economic losses.


According to Caroline Bowler, CEO of BTC Markets, an Australian cryptocurrency exchange, "I think they are taking a snapshot in time and making an assessment for a long time around what happened in El Salvador and the price of bitcoin." She added that Australia will lag behind other nations that are adopting a more open-minded strategy.


The United Kingdom now has a prime minister who is conversant with central bank digital currencies, so Bowler predicted that Europe would gain ground. If we don't consider proportionate, sensible regulation, all these trade partners will surpass Australia.

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