Policy Weekly | South Korea may exempt blockchain companies from taxation; Hangzhou intends to use blockchain for garbage classification (7.9-7.13)
This week, the global regulation of digital currency has become more clear, and there are favorable policies related to blockchain and digital currency.
In foreign countries, South Korea’s Ministry of Planning and Finance stated that in order to develop blockchain and other quaternary industries, no matter which country’s enterprises are related to the quaternary industry in Korea, they will be exempted from taxation; the U.S. Financial Industry Administration requires member companies to provide details of cryptocurrency-related activities ; The EU's fifth anti-money laundering directive came into force on July 9.
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Currency market
Bitcoin BTC reported at $6247.6, a change of -5.14% within 7 days;
Ethereum ETH reported at $437.86, a change of -6.39% within 7 days;
Ripple XRP was quoted at US$0.44104, with a change of -6.37% within 7 days;
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1. Good newsInvsting.comChinese website
Focus this week
International section
1. Good news
Today (July 13), in South Korea's "Fourth Industry Innovation Growth Strategy Review Meeting and Policy Review Meeting", the Ministry of Planning and Finance of South Korea stated that in order to develop the fourth industry such as blockchain, no matter which country the company is in, it will cooperate with South Korea. Those related to the fourth industry are all tax-free.
Brazil's National Development Bank provides funding for Rio de Janeiro startups
Brazil's National Development Bank (BNDES) will fund a startup acceleration program BNDES Garagem in Rio de Janeiro with a budget of 10 million reais ($2.5 million), July 13 news. It is reported that in addition to safety, health, education, financial services, creative economy, and environment-related products and services, BNDES also intends to provide funds for projects in areas such as blockchain and the Internet of Things.
2. Steady progress
2. Steady progress
European lawmakers: A more centralized anti-money laundering authority should be created
3. Regulatory upgrade
3. Regulatory upgrade
FINRA Asks Member Firms to Provide Details of Cryptocurrency-Related Activities
The U.S. Financial Industry Regulatory Authority (FINRA) is asking member firms to provide details of cryptocurrency activities to complement existing measures to “determine the extent of their member firms’ involvement in this nascent field.” According to the notice, FINRA needs to know details of whether a member firm has or will conduct activities including engaging in cryptocurrency transactions, accepting it from clients, managing a pooled crypto fund, participating in token sales, or providing advice on any crypto-related topics . Mining operations are an important part of FINRA's surveillance.
Bank of Queensland bans digital currency purchases with home mortgages
1. Good news
Domestic sector
1. Good news
Central Bank Yao Qian: Decentralized asset trading does not conflict with centralized exchanges
Yao Qian, director of the Digital Currency Research Institute, believes that decentralized asset transactions have the advantages of low cost, quasi-real-time, and robust systems, but further research is still needed in terms of performance improvement, security enhancement, privacy protection, regulatory access, and scenario mining. and explore. In particular, how to provide an "access port" for supervision should be an "indispensible" element of various decentralized asset trading technical solutions. It should be noted that decentralized asset trading does not conflict with traditional centralized exchanges, and the two are not completely substituted. Traditional centralized exchanges can also adopt decentralized asset trading technology to give full play to the block The energy of chain technology can better improve the price discovery function and capital allocation efficiency of the financial market, and better serve the development of the real economy.
Recently, the China Communications Information Center and the Development Research Center of the State Post Bureau signed a strategic cooperation agreement to jointly promote the research, development, promotion and application of new technologies in the fields of information interconnection, blockchain, and logistics informatization, and strengthen scientific and technological innovation and transformation of achievements. Cooperate to cultivate professional talents in big data, informatization and operation and maintenance in the industry.
Yan Li, director of the Beijing Municipal Commission of Commerce, recently revealed that in order to ensure food safety, the Beijing Municipal Commission of Commerce has established a food safety traceability system in recent years. This year, the Municipal Commission of Commerce also cooperated with Jingdong Group. The two parties will establish a closed-loop traceability system for commodities from origin to circulation in Beijing through the application of new technologies such as big data, blockchain, radio frequency technology, cloud computing and artificial intelligence. Full-chain traceability management from raw material procurement, production and processing to finished product sales.
Chengdu will set up an investment fund to encourage the use of blockchain technology
On July 10, Chengdu held a press conference. Liang Qizhou, director of the Chengdu Financial Work Bureau, said that in the future, Chengdu will also set up a financial technology industry innovation investment fund to encourage the use of cutting-edge scientific and technological achievements such as artificial intelligence, big data, and blockchain. Step up the establishment of a 10 billion yuan rural revitalization fund and a 2 billion yuan Linpan fund in western Sichuan.
Hangzhou wants to use blockchain for waste sorting
2. Regulatory upgrade
2. Regulatory upgrade
At the beginning of this year, Li Xuyang, head of Tencent Security Anti-Fraud Laboratory, said that there are more than 3,000 MLM platforms using the blockchain concept. Inventory of recent cases found that "blockchain + fraud" mainly has three "routines": "empty glove white wolf" fry up the currency value and then "cut leeks"; Reality;
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I'm Qi Ming from Odaily. To explore the real blockchain, please add WeChat qingmoruoshui for project communication and breaking news. Please note your name, company, and position. For reprinting/content cooperation/reporting, please contact report@odaily.com; illegal reprinting must be punished by law.
