| Fusang Corp is about to open a digital IPO based on the blockchain and go public on the Fusang Exchange; Musk: Support the use of nuclear power generation for Bitcoin mining (July 23)

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2021-07-23 08:24 (UTC+8)

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FTX CEO: The United States is the next big target market for FTX.

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FTX CEO: The United States is the next big target market for FTX.

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Fusang Corp is about to open a digital IPO based on the blockchain and go public on the Fusang Exchange

Fusang Corp (FSC), the parent company of FUSANG Group, is about to conduct an IPO. It is reported that this will be the first fully digital IPO, which is expected to open at the end of the third quarter and go public in the fourth quarter. Its shares will be recorded directly on the blockchain (in the form of blockchain-native shares) and will be publicly listed on the Fusang Exchange for direct trading by global investors. This means that users will be able to trade and transfer FSC shares in the form of tokens in the same way that cryptocurrencies are traded and transferred, but these tokens directly represent real shares that have gone through the full IPO process (including public filing of the prospectus) so that List on the appropriate stock exchange.

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digital currency

Central Bank of Colombia Launches First Blockchain Bond Pilot

The Central Bank of Colombia (Banco de la República), IDB Group and Banco Davivienda have partnered to launch Colombia’s first blockchain bond pilot, which is expected to last six months. According to the official statement, the bond will be issued, placed, traded and settled through blockchain technology using smart contracts. Banco Davivienda, a Colombian bank located in Bogotá, will be in charge of issuing the bonds, and IDB Invest will be in charge of underwriting the bonds. This operation will be recorded in LACChain, a platform launched by BID Lab, "to leave complete traceability of bonds on the blockchain technology." pilot. The funds under the project will be processed by Banco de la República's payment system, which will act as an observer node in the blockchain network. IDB Group will provide technical support for the implementation of the proof of concept and will advise on the regulatory and technical aspects of the operation. The IDB Group consists of the Inter-American Development Bank, the Inter-American Investment Corporation and the Multilateral Investment Fund.

JPMorgan to allow all of its wealth management clients access to cryptocurrency funds, advisors can buy and sell on behalf of clients at their request

JPMorgan Chase is allowing all of its wealth management clients access to cryptocurrency funds, according to sources familiar with the matter. The bank told advisors in a memo earlier this week that they can now accept buy and sell orders for five cryptocurrency products as of July 19, four from Grayscale Investments and one from Osprey Funds. The move applies to all JPMorgan clients seeking investment advice, including the bank's proprietary clients using its commission-free Chase trading app, with assets managed by financial advisors, part of JPMorgan Advisors, according to a person familiar with the matter. of mass affluent clients, and the ultra-wealthy clients served by the private bank. JPMorgan’s advisors can only execute “unsolicited” crypto trades, meaning advisors cannot recommend products but can buy and sell on behalf of clients at their request. The funds approved by JPMorgan include Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust, as well as Osprey funds’ Bitcoin Trust, according to sources.

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Blockchain industry

Swiss digital bank SEBA Bank launched Polkadot ETP, which has been listed on SIX Swiss Exchange

Swiss digital bank SEBA Bank joined the ranks of 21Shares and Valour to release the Polkadot exchange-traded product (ETP) SA1 Polkadot ETP (SDOT), which has landed on the Swiss exchange SIX Swiss Exchange with a total expense ratio (TER) of 1.25%. Swiss crypto ETP issuer 21Shares was the first to launch the 21Shares Polkadot ETP (ADOT) in February, and Swiss blockchain company Valor followed with the Valor Polkadot SEK ETP in May.

OKCoin to Leverage Worldpay Forex Service, Allowing Customers to Buy Cryptocurrency Using Credit and Debit Cards

Cryptocurrency exchange OKCoin has selected merchant service provider Worldpay to help it expand, which includes bringing cryptocurrency exchange payments to a global audience. OKCoin will utilize Worldpay’s foreign exchange service, allowing customers to purchase cryptocurrencies using credit and debit cards. Worldpay is wholly owned by technology and merchant services provider FIS. FIS is both a Fortune 500 company and a constituent of the S&P 500 Index. The company processes more than $2 trillion in transactions annually.

Shenzhen: Develop innovative applications such as digital currency, research and mobile payment

In response to the current key issues that restrict consumption expansion and quality improvement, Shenzhen has formulated the "Action Plan on Promoting Consumption Expansion and Quality Improvement and Creating New Consumer Demand (2021-2023)". The "Action Plan" proposes to implement financial support for consumption, and to carry out innovative applications such as digital currency, research and mobile payment. Implement consumer market environment optimization actions, promote the legislation of social credit regulations in Shenzhen Special Economic Zone, and formulate and promulgate regulations on consumer rights protection in Shenzhen Special Economic Zone.

Global X, with an asset management scale of US$30 billion, submits a Bitcoin ETF application to the US SEC

According to the registration statement on the official website of the US SEC, New York-based ETF provider Global X is applying for a Bitcoin ETF. Global X plans to register an exchange-traded fund, which will be issued and listed on the Cboe BZX Exchange. The trust will primarily reflect the performance of Bitcoin and will hold and manage Bitcoin as its primary trading asset. It is reported that the asset management scale of Global X is about 30 billion US dollars, with more than 80 different products. The company primarily issues ETFs and manages funds. In 2018, Global X was acquired by Mirae Asset Global Investments, located in Seoul, South Korea, whose asset management scale exceeded US$500 billion.

US computer hardware maker PNY launches solid-state drive designed for Chia

V God and others initiated the EIP-3675 proposal, proposing to upgrade the ETH main network consensus from PoW to PoS

On July 22, Mikhail Kalinin of Teku, the Ethereum 2.0 client, Danny Ryan and Vitalik Buterin, core developers of the Ethereum Foundation, initiated the EIP-3675 proposal to upgrade the consensus to Proof of Stake (Merge of Eth1 and Eth2). The proposal, which is still in draft form, states that the EIP abandons Proof-of-Work (PoW) and replaces it with a new Proof-of-Stake consensus mechanism (PoS) driven by the beacon chain. The proposal states that the beacon chain network has been operational since December 2020, during which time no safety and liveness failures have been detected. Long-term trouble-free operation is a testament to the sustainability of the Beacon Chain system and its readiness to start driving and becoming a security provider for the Ethereum mainnet.

The Ethereum client Geth released version v1.10.6, which is a fix to solve the consensus failure on the Ethereum test network Ropsten. Geth users on the Ethereum mainnet must upgrade to this version before the London hard fork activates in order to maintain consensus. According to previous news, the London upgrade is imminent, and Ethereum developers have fixed the EIP-1559 related vulnerabilities on the testnet.

Reddit Partners with Arbitrum to Expand Its Ethereum-Based Community Points System

Reddit is partnering with layer 2 solution Arbitrum to expand its Ethereum-based community points system. Reddit said Thursday that Arbitrum beat out 21 other contenders, with other projects under consideration including Solana, StarkWare and Polygon, among others. It is reported that Reddit’s community points are ERC-20 tokens. Reddit users can earn these points by posting high-quality comments or other contributions, which can be used to purchase exclusive badges, custom emoticons and GIFs, etc. The upgrade will reportedly move Moons and Bricks tokens from the testnet to the main ethereum blockchain, but transactions will be made through scaling solution Arbitrum.

Ethereum scaling solution Polygon and NFT marketplace UNXD announce $10M fund

According to official news, Polygon, the Ethereum expansion solution, and UNXD, a digital luxury NFT market, announced the establishment of a $10 million fund, UNXD Culture Fund, funded by Polygon Studios. UNXD Culture Fund will cooperate with large brands and creators to produce next-generation NFT series. Polygon Studios has committed to a $100 million fund to invest in and expand Web3 gaming and cultural projects on the Polygon network. According to previous news, Polygon launched a new department, Polygon Studios, to promote blockchain games and NFT work.

Hengxin Capital announced the establishment of a US$20 million ecological fund with Solana to support the ecological development of blockchain in Taiwan, China

According to official news, Evernew Capital (Evernew Capital) announced the establishment of a US$20 million ecological fund with Solana to support the development of the blockchain ecosystem in Taiwan, China. This fund will pay special attention to projects from Taiwan, China and cultivate Taiwan's Solana developer ecosystem, and jointly build and bring in potential teams for the Solana ecosystem. This eco-fund aims to support early-stage projects that build on Solana or use Solana technology.

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global policy

Russia's central bank asks country's stock exchanges not to allow crypto-related companies to list

The Central Bank of Russia issued an information letter on July 19, requiring Russian stock exchanges not to list foreign and local companies involved in a wide range of encryption services. The central bank clarified that local exchanges should not list shares issued by companies whose business depends on crypto market prices, including digital financial assets issued outside Russia, crypto tracking indices, crypto derivatives and crypto funds. In addition, the Russian central bank advised asset managers to exclude these vehicles from mutual funds. It should be noted that this requirement does not apply to central bank digital currencies and authorized digital assets issued in Russia.

South Korea’s FSC notified 27 overseas virtual asset operators to declare before September 24, otherwise they will be ordered to stop providing services

South Korea’s Financial Services Commission (FSC) announced that it has notified 27 overseas virtual asset operators that provide services to Korean users to report to the Financial Intelligence Unit (FIU) under the Financial Services Commission before September 24. A financial information analysis agency conducts business on behalf of Koreans. The FSC will require overseas virtual asset operators who have not declared before September 24 to stop providing services to Koreans. If they do not comply with this rule, they will be punished according to the "Special Gold Act", which may be punished by imprisonment for up to 5 years or 50 million Korean won (about 43,500 U.S. dollars) fine. In addition, FSC also plans to take measures such as blocking access to specific websites, and cooperate with overseas financial institutions and international criminal justice agencies to punish illegal operators.

Ukraine released a digital asset industry roadmap, by 2024 47% of the population will use digital assets

Ukraine’s Ministry of Digital Transformation has presented a plan, developed with input from the local crypto community, aimed at developing the country’s digital asset industry. The report, titled “Virtual Assets in Ukraine – 2030,” reflects the findings of research conducted by the ministry with cryptocurrency exchanges, miners, and other cryptocurrency community participants between March and June this year. According to the report, to provide the best environment for the development of the digital asset market, the government needs to address legal and educational objectives: provide an appropriate legal framework; ensure the stability of the tax system for the next 3-5 years; allow crypto companies to open bank accounts; Currency (CBDC); reform of courts to strengthen protection of private property. The roadmap also states that the digital assets bill currently before parliament should be passed this year. It said tokenized assets should be part of the existing financial system and there should be an official way to buy virtual assets with fiat currency. The plan also includes education, starting with school-aged children, developing programs dedicated to blockchain and virtual assets. There should be a special course for parliamentarians and a masters course on decentralized finance. The report predicts that if its recommendations are followed, Ukraine should become one of the top 10 cryptocurrency nations by May 2024, with 47 percent of the population using digital assets and 10 percent of businesses tokenizing their assets.

RBI Deputy Governor T Rabi Shankar said on Thursday that the Reserve Bank of India (RBI) is working on a "phased rollout" of the Central Bank of India's digital currency (CBDC), the digital rupee, which may be piloted in the future. The RBI defines a CBDC as a digital form of sovereign currency that can be converted into cash or sovereign-backed deposits. The RBI has undertaken several considerations regarding the scope and legal framework of the proposed CBDC, which is likely to coexist with cash and digital forms of payment. The time for a CBDC in India is approaching.