Japan Launching CBDC Pilot 🇯🇵

GM. This is Degen Scoop. It’s Tuesday, this is what we’ll be covering today:

• Japan Launching CBDC Pilot 🇯🇵

• Zuzalu: Where Crypto Rich Seek Eternal Life 🧬

• 30% Tax on Crypto Miners From Biden Administration Dies

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Japan Pursuing the Creation of Digital Yen

For the past year, more and more governments have committed to exploring the utility of CBDCs (central bank denominated currency). On the surface this looks like a positive development, but is likely the contrary. The use of a CBDC would be the most powerful tool that a surveillance state could possibly have at their fingertips providing a level of control that has yet to be seen in history. The prospect is terrifying to consider if we see nations begin to implement this technology.

Japan claims the results from the year long pilot have been a resounding success and they are set to proceed further with their test pilot a digital yen. This deep dive in particular is exhaustive in its detail of the results of the pilot if you want to further look into the nitty gritty. As of right now, there isn’t a finite date of its release or whether it will be used at all. Currently, the decision to utilize a CBDC remains up in the air and will be decided by the BOJ (Bank of Japan) by 2026.

Zuzalu: The Community Co-Founded by Vitalik That Seeks Eternal Life

In Lustica Bay, Montenegro the Zuzalans (they call themselves) gathered for a conference that has been compared to Burning Man. The members of Zuzalu are comprised of ~200 thought leaders; members flocked to Montenegro for this meetup where discussion centered around blockchain, AI, and human longevity.

Many attendees claim the experience was life-changing with historic implications given the participating members and talk that occurred. Mostly lacking a formal schedule, the event was comprised of impromptu events over the course of the conference. The Zuzalans that believe they won’t die are but a small cohort of the community. The conference is expected to return next year, its time and location remain unanounced.

Proposed 30% Tax on US Crypto Miners is Dead, For Now

The impending default prompted significant worry as June 5th grew ever closer. The fact that a default has never happened in the US is a primary reason why the USD remains the world’s reserve currency. In order to prevent a default, one effort that was proposed by the Biden administration was the institution of a 30% tax on crypto miners. If this were to pass, mining would be all but abolished in the country due to it no longer being profitable.

The default was avoided (as always) over the weekend as the two parties reached a compromise. In the final compromise, the proposed mining tax was killed off for the time being. Should it have passed, it’s likely that any mining business in the country would have survived long as it would be a large cut into their margins. A weight has been lifted off of their shoulders.

Here are the notable NFT sales that we saw yesterday:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.