| The market value of USDT has exceeded 10 billion U.S. dollars; the Supreme Law and the National Development and Reform Commission issued a document to protect the rights and interests of digital currencies

headlines

headlines

Tether Official: USDT Market Value Exceeds $10 Billion

Tether officially tweeted that in March 2020, the total market value of USDT reached 5 billion US dollars. Just four months later, USDT now has a total market capitalization of more than $10 billion.

On July 22, the Supreme People's Court and the National Development and Reform Commission jointly issued the "Opinions on Providing Judicial Services and Guarantees for Accelerating the Improvement of the Socialist Market Economic System in the New Era." The opinions call for strengthening the judicial protection of property rights and consolidating the institutional foundation for the effective operation of the market economy, including strengthening the protection of new rights and interests such as digital currency, network virtual property, and data, and giving full play to the value-leading role of judicial judgments in property rights protection. (Official website of the Supreme People's Court website)

digital currency

digital currency

Tokenview: Fees on the Ethereum chain reach their highest level in two years

According to the Tokenview block browser data, the total transaction fees on the Ethereum chain reached 5328.73 ETH (approximately 1.2922 million US dollars) yesterday, and the average daily Gas price was 51.6GWei, all of which were nearly two years after the abnormal transfer fee data was excluded. highest bit. As the utilization rate of the Ethereum network continues to rise, the transaction fees on the Ethereum chain continue to rise. Currently, the number of Ethereum transactions to be confirmed is about 147,500.

Data: The total value of ETH on the Ponzi scheme DApp Forsage is close to 100 million US dollars

On July 22, Ethereum developer Philippe Castonguay tweeted that the value of ETH on Forsage, a Ponzi scheme DApp application, was close to 100 million U.S. dollars, and its gas consumption accounted for nearly 10% of the daily gas usage. According to the news at the beginning of the month, Forsage was identified as a Ponzi scheme by the Philippine Securities and Exchange Commission, and it ranked first in trading activities on Ethereum in June.

UK's first regulated cryptocurrency hedge fund, Prime Factor Capital, may close

Prime Factor Capital, the UK's first regulated cryptocurrency hedge fund, is closing. The company's founders are currently winding up the business, according to people familiar with the matter. (Financial News)

IRIS soared 50% within a day, and the price hit a new high since July 2019
Xunhuobi Global Markets shows that IRIS hit a short-term peak of 0.086 USDT, a new high since July 2019. IRIS is currently trading at 0.074406 USDT, an intraday increase of 51.19%.

According to previous reports from CoinDesk, the blockchain service network BSN announced the integration of six major public chains including IRISnet, Nervos, Tezos, NEO, EOS and Ethereum to expand its global business. (Data source: BitUniverse)

The 0x community has voted through the ZEIP-79 proposal, which can save 50% of transaction costs

According to official news, the 0x community has voted for the ZEIP-79 proposal, which will reduce transaction fees by 50% after implementation. This means significant savings in transaction costs not only for Matcha traders but also for any traders who integrate the 0x protocol.

The oracle machine DOS Network accused MXC Exchange of freezing accounts, virtual additional issuance, and inability to rigidly redeem DOS tokens, etc.
DOS Network officially stated that when the DOS oracle mainnet was successfully launched for two weeks, the total pledged amount has reached nearly 23 million DOS tokens. However, after investigation and evidence collection, MXC Exchange has frozen accounts, virtual additional issuance, and the inability to rigidly redeem DOS tokens, etc. question. Just to redeem the DOS tokens stored in the exchange by the project party, there is a shortfall of nearly 11 million, not to mention the need to redeem the tokens held by users.

Blockchain industry

Blockchain industry

Authoritative person: The central bank's blockchain standard will be announced in the Gold Standard Committee in the near future

According to a public report on July 22, the central bank recently issued documents and evaluation rules to regulate blockchain applications in the financial industry. This is the first blockchain-related regulatory document issued by the highest authority in China. An authoritative person told reporters, "The central bank has indeed issued a blockchain standard, which is regarded as an industry standard. It is still in the process and should be listed in the Gold Standard Committee soon." (Securities Times)

Shanghai Stock Exchange Center has completed the establishment of the central blockchain system project

Recently, the China Securities Regulatory Commission issued the "Letter on the In-Principle Approval of 5 Regional Equity Markets in Beijing, Shanghai, Jiangsu, Zhejiang, and Shenzhen to Carry Out Blockchain Construction Work", agreeing in principle to the participation of 5 regional equity markets in the pilot work of blockchain construction . The reporter learned from the Shanghai Stock Exchange Center on July 22 that it has become one of the five regional equity markets that have carried out blockchain construction pilot projects. At present, a special working group has been established, and the central blockchain system (equity registration) has been completed. Managed) project approval. The next step will be to sort out the data and data structure on the chain, and promote the project bidding work. (Securities Times Network)

U.S. Office of the Comptroller of the Currency: National Savings Banks Can Offer Crypto Custody Services
Investment and Financing

Investment and Financing

Orion Protocol raises $3.45 million through new financing method DYCO

Transaction aggregator protocol Orion Protocol has raised $3.45 million through a new funding method called Dynamic Coin Offering (DYCO). This approach allows investors to apply for a refund if the project is not completed or does not want to wait for the project to reach a milestone. As far as Orion Protocol is concerned, the project guarantees that 80% of the funds will be reserved for investors holding its ORN tokens. “The refund process starts from month 9 to month 16, with refunds in U.S. dollars throughout the process,” said the project leader, who has so far been using its own roughly $300,000 in seed money, according to the team. Funds remain in operation. (The Block)

global policy

global policy

Russian Legislature Passes Bill on Digital Financial Assets, Agreeing to Give Legal Status to Digital Assets

Russia’s legislature, the State Duma, today passed the bill “On Digital Financial Assets (DFA)” in its final third reading. The Russian legislature agreed to give legal status to digital assets, and the DFA bill is expected to come into effect on January 1, 2021. The bill provides a legal definition for digital assets and legalizes the trading of cryptocurrencies in Russia, but bans the use of cryptocurrencies such as bitcoin as a form of payment. (Cointelegraph)

South Korea to impose 20% capital gains tax on digital currency transactions

The South Korean Ministry of Finance announced the 2020 tax reform plan, which will impose a 20% capital gains tax on digital currency transactions with an annual transaction volume of more than 2.5 million won. Earlier news, the South Korean National Assembly's proposed amendments to existing laws also plan to classify cryptocurrencies as "commodities" rather than currencies. Lawmakers have determined that virtual assets can be considered digital certificates of economic value that can be traded electronically. However, when the transaction is for the purpose of sale, it can be considered an asset. Additionally, for those who do not reside in the country, capital gains tax will be withheld on their cryptocurrency transactions. (Yonhap News Agency)

Shanghai's Jing'an District focuses on technological innovation in Shibei High-tech Park, and vigorously promotes new technologies and new industries represented by big data cloud computing. Last month, Jing'an, the Shanghai Academy of Sciences, Huawei and others jointly built the Blockchain Ecological Valley, which was officially inaugurated. At present, the park has been included in the "Shanghai City Master Plan (2017-2035)" city-wide science and technology innovation planning map, and is striving to become the capital of China's big data industry and China's innovative industrial community. (People's Daily Online)

Character·Voice

Character·Voice

Analysis: Traders turn to DeFi and options as Bitcoin volatility hits new lows

Analysis: Traders turn to DeFi and options as Bitcoin volatility hits new lows

The price of Bitcoin has been fluctuating within a tight range. For some traders, the absence of price volatility makes trading the asset less attractive. This drives them to look for new opportunities in DeFi and options markets. (The Block)