Blockchain Industry Weekly: Countries strengthen the supervision and taxation of cryptocurrencies; the world's first international standard for general data privacy protection on the blockchain chain is successfully established; the central bank'
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Text丨Blockchain small experts
overview
This week's keywords are "regulation" and "taxation".
With the recent surge of Dogecoin, many kinds of animal coins of Pengci have emerged one after another, but the chaos caused by the skyrocketing and plummeting has also made the regulators step up their exploration of the governance methods of cryptocurrencies, butCountries will still not directly pass away cryptocurrency, because the trend of digital economy is irreversible, blocking is worse than sparse, or return to two logical levels, that is, the way of supervision + taxation.
The issue of tax collection has been mentioned many times in our weekly reports in the past few weeks. The core logic is still that the digital economy cannot affect the real economy, but the rapid development of the digital economy will definitely attract a lot of funds into the market, and it will inevitably It affects the investment of the entity, so it is very necessary to regulate the balance between the two through taxation. This is also the reason why countries are actively exploring the taxation of cryptocurrencies this week. After I believe that,Regulation and taxation will be the two core influencing factors that have long shrouded the cryptocurrency field.
This week, there have also been major developments in the domestic blockchain field. One is the establishment of several blockchain standards, among whichThe world's first international standard for general data privacy protection on the blockchain chain falls in my country, while playing with the blockchain with currency abroad is having fun, our country is still steadily exploring the wider application of the blockchain without currency. the other isProgress on the digital yuan is accelerating, Now the cross-border use of digital renminbi will also become a key practice direction.
Although the director of the International Department of the People's Bank of China said that it is necessary to grasp the first-mover advantage of digital currency, my country's digital renminbi is indeed leading in the direction of the central bank's digital currency, and the digital dollar is just brewing and testing, but in the field of cryptocurrency, the US dollar stable currency has already dominated the entire world. The field of cryptocurrency. Although it seems that the central bank's digital currency and cryptocurrency are still in two different fields that do not interfere with each other, they will definitely merge into a field that does not separate each other in the future. round of competition.
It is worth all the enterprises and institutions that are engaged in the financial direction of the industrial blockchain. One of the directions that should be paid more attention to is the application of decentralized finance, that is, DeFi.DeFi will be an important role that will have a profound impact on traditional finance, the World Economic Forum and the DeFi report of the Dutch ING Bank have revealed this conclusion. We can’t just bury our heads in the coinless blockchain + finance, and some DeFi mechanisms are also worth learning.
andpolicy related、industry news、central bank digital currency、Investment and financing newsandIndustry Viewpointpolicy related
policy related
[South African Revenue Service to Target Cryptocurrency Investors to Raise Taxes]
A new report from South Africa suggests that the country’s tax agency will now target cryptocurrency investors as it seeks to increase the overall value of tax revenue, Bitcoin.com reported. In addition to high-net-worth individuals and overseas investors, digital currency holders now constitute a"likely to incur most of the additional tax"field for use by the tax administration. It is reported that many South African cryptocurrency holders"Didn't know cryptocurrency trading made them tax liable". According to expert Thomas Lobban, “The South African Revenue Service (SARS) is very concerned about cryptocurrency transactions at the moment.”
[Korean Banking Association Warns Its Members Over Altcoin Trading Mania]
According to a report from The Korea Herald on Monday, the Korea Banking Association has asked member banks to conduct audits of altcoins offered by their crypto exchange clients. The agency wants crypto exchanges to be alert to the risk of over-exposure to altcoins. One of the officials said: “One of the criteria we propose is the security of digital assets, which can be measured by the number of tokens on the exchange. If an exchange handles too many digital assets, it will take more risks .”
[Nebraska may allow local banks to provide cryptocurrency services]
Nebraska senators voted to pass the first bill "to allow banks to provide services to customers who own bitcoin and other digital assets," according to the Associated Press, with two votes remaining. If the bill is finally passed, it will make Nebraska the second state in the United States that can issue licenses for encrypted banks, the first being Wyoming.
[Indonesia plans to tax cryptocurrency transactions]
Indonesia is considering taxing cryptocurrency transactions after their popularity surged among local investors, an Indonesian tax official said on Tuesday, Reuters reported. However, Neilmaldrin Noor, a spokesperson for the Indonesian Tax Agency, said that the tax plan for cryptocurrencies is still in the discussion stage. It is reported that the country has banned cryptocurrencies as a payment tool, but allows them to be traded as commodities. Additionally, the Indonesian Financial Services Authority warned investors against investing in cryptocurrencies, arguing that they have no fundamental value and are highly volatile.
[A bill to allow banks to provide cryptocurrency services in Nebraska passed the first legislative vote]
According to Cointelegraph, Nebraska lawmakers are advancing an initiative to allow state banks to provide cryptocurrency services. State senators have now endorsed the measure and passed it in the first of three required legislature votes, with 39 lawmakers voting Sunday to advance the bill's registration and preliminary review. It is reported that the proposal, proposed by Republican Mike Flood in January, aims to pass the Nebraska Financial Innovation Act and create digital asset depository institutions, as well as regulate the franchise, operation, supervision and regulation of such institutions.
The initiative will reportedly make Nebraska the second U.S. state to create formal charters for cryptocurrency-driven banks, allowing them to facilitate cryptocurrency transactions. Wyoming was the first state, chartering its first crypto bank in September 2020.
[Kazakhstan formulates a roadmap for the development of the encryption industry]
According to Cointelegraph, the government of Kazakhstan has drawn up a roadmap to stimulate the development of the cryptocurrency industry and blockchain technology in the country. The government has reviewed proposals for the development of the cryptocurrency industry and reconsidered its approach to regulating cryptocurrency operations. Officials suggested running a cryptocurrency exchange through the Astana International Financial Center. The government is also proposing to establish standards by which cryptocurrency exchanges can interact with local banks and customers.
【Acting US OCC Administrator will review key regulatory standards】
According to Forbes Encryption News, Michael Hsu, the new acting director of the U.S. Office of the Comptroller of the Currency (OCC), is about to conduct a review of key regulatory standards and will consider various internal and external perspectives. In his address to employees, Hsu mentioned that technological change and digitization are accelerating and are changing the way people and businesses bank. Earlier news, the guidance issued by former acting administrator Brian Brooks aims to integrate the cryptocurrency industry into the US financial system. The guidance includes confirmation that banks can serve cryptocurrency startups and stablecoin issuers, and provide custody for digital assets.
[The United States Texas House of Representatives passed a bill to officially recognize the legal status of cryptocurrencies]
According to U.today news, the Texas House of Representatives passed a bill to officially recognize the legal status of cryptocurrencies. The bill will then go to the Texas Senate for any proposed amendments and possibly a final vote. If the encryption legislation passes the Senate, Texas Governor Greg Abbott could sign the bill into law.
[Korean National Assembly Advisory Agency: Proposes the Establishment of a Central Cryptocurrency Regulatory Agency]
According to Cryptonews, an agency under the South Korean National Assembly has formulated a set of proposals to further regulate the country's cryptocurrency industry, including the establishment of a new government-run department to handle cryptocurrency-related matters. Local media reported that the National Assembly Research Service (NARS), which is in charge of research and policy advice for MPs and parliamentary committees, has concluded that the government and regulators have left the cryptocurrency space in trouble, and has recommended the creation of a new agency with full responsibility for formulating encryption policy.
[The IRS can seize users' digital assets to pay back tax arrears]
The IRS can seize the digital assets of cryptocurrency owners with unpaid tax debts, according to Internal Revenue Service Deputy Chief Counsel Robert Wearing, according to Bloomberg. In previous news, the US Internal Revenue Service (IRS) obtained court approval to access user data on the Kraken exchange.
[Hungary will halve cryptocurrency income tax, reducing it to 15%]
Hungary plans to cut taxes on capital gains from cryptocurrency transactions, Bitcoin.com reported. Currently, Hungarians are required to pay a 30.5% tax on cryptocurrency trading gains, but the government plans to reduce this to 15%. The main purpose is to minimize tax evasion, but lower tax rates can also attract more cryptocurrency traders and investors.
【U.S. Congressman Urges Clearer Accounting Standards for Digital Assets】
According to The Block, on May 12, seven members of the U.S. Congress sent a letter urging the Financial Accounting Standards Board to establish clearer guidelines for digital assets.
[Argentina orders cryptocurrency exchanges to provide monthly user reports]
In an attempt to prevent the devaluation of its national currency, authorities in Argentina are including cryptocurrency users in their sights, Decrypt reported. Currently, Argentina’s tax agency, AFIP, is requiring cryptocurrency exchanges in the country to provide monthly reports on customer data. Required disclosures include full user lists, fund movements, and available balances at the end of the month.
Previously, the Central Bank of Argentina launched an initiative requiring all banking institutions registered in the country to provide the personal information of customers known to have transacted with cryptocurrencies.
[Spanish market regulator will allow investment institutions to conditionally invest in encryption]
According to CryptoNews, Spain's market regulator will allow investment institutions to invest in cryptocurrencies conditionally, that is, only when the market price is determined by a third party who conducts purchases and sales operations and informs customers that encrypted assets are high-risk investments. Institutions are only allowed to offer crypto products under the statute of limitations, and investments in certain crypto derivatives, exchange-traded commodities (ETCs) or exchange-traded notes (ETNs) involving crypto are also prohibited.
[South Korea's central bank will use financial records to monitor cryptocurrency transactions]
industry news
industry news
【TriumphX signed an exclusive contract with Metaverse NFT artist RisingSun】
According to official news, TriumphX, a cross-chain decentralized NFT platform development company, has signed an exclusive contract with Metaverse NFT artist RisingSun (Kim Il-dong). RisingSun (Kim Il-dong), the first generation pop artist in South Korea, has held more than 100 exhibitions in Seoul Museum, Singapore Art Museum, etc., and has conducted Art Hecuo with BMW and other brands. OpenSea recently sold an NFT artwork 'Rising Sun's Fountain', which pays homage to Marcel Duchamp's 'Fountain' which mocked the art world, priced at the same 1458.07 ETH as the fountain. RisingSun(Kim Il-dong) released the NFT of his iconic work Pop Art Dalmado through TriumphX, and it can now be viewed on the Sole-X platform. TriumphX launched ENFTEE.COM, an NFT distribution platform, in February, and Sole-X, an NFT trading platform for cross-chain transactions of NFT tokens, in April.
[Italy will launch a blockchain-based digital guarantee contract management platform in the second half of this year]
According to Finextra, the Italian payment agency SIA and the Italian technology research center Cetif will launch a blockchain-based digital guarantee contract management platform in the second half of 2021 after a successful pilot test. It is reported that more than 50 market participants participated in the sandbox test and managed more than 350 contracts within four months, with guaranteed amounts ranging from €10,000 to €1.4 million, with an average amount of €275,000. In addition, the digital consultancy Reply, the Bank of Italy, the Institute of Insurance Supervision (IVASS) and the Italian Financial Police are also involved in the digital guarantee trial. According to data provided by participants, the use of blockchain and DLT technology can reduce fraud by around 30% and reduce operating costs by 10% to more than 50%, depending on the number of transactions processed.
【Entertainment company Live Nation will explore the concert"magic moment"Possibility of turning into NFT]
According to Decrypt, Michael Rapino, CEO of ticketing and concert production company Live Nation, said in the company's quarterly earnings conference call last week that the company is following the example of NBA Top Shot and exploring the use of concerts."magic moment"The possibility of becoming an NFT. also. Ticketmaster, a subsidiary of Live Nation Entertainment, is already looking into how to incorporate NFTs into tickets.
[Congo Virunga National Park accepts cryptocurrency donations]
Virunga National Park in the Democratic Republic of Congo, one of Africa’s largest wildlife sanctuaries, said it now accepts cryptocurrency donations, Bitcoin.com reported. It is reported that the donations will be used to help protect the famous"Mountain gorillas and the ecosystems they live in"。
Initially, it will accept donations in 12 cryptocurrencies, including BTC, BCH and ETH, according to a recent statement on its website. Additionally, the statement explains why donations in cryptocurrencies are being considered, as donations in cryptocurrencies are tax-efficient.
[Mingyuntang parent company Urban Tea announced that it accepts Dogecoin, Ethereum and Bitcoin for payment]
According to U.Today, Urban Tea, a Nasdaq-listed company and the parent company of Chinese tea brand Mingyuntang, announced that its Chinese tea stores will begin to accept Dogecoin, Ethereum and Bitcoin payments. By deploying cryptocurrency payments, Urban Tea plans to bring cryptocurrency application scenarios into customers' daily lives. According to the previous news in February, Urban Tea transformed into Bitcoin mining.
【Cryptocurrency mining company Hive Blockchain sells Norwegian branch after the country cancels electricity subsidies】
Canadian-listed cryptocurrency mining company Hive Blockchain Technologies (HVBTF) has sold its Norwegian subsidiary Kolos Norway AS to the local Narvik municipal government for $200,000 due to the cancellation of electricity tax subsidies by the Norwegian government, Coindesk reported.
【Blockchain analysis firm TRM Labs adds Dogecoin blockchain to eliminate crypto crime】
According to CoinDesk, TRM Labs, a blockchain security analysis company invested by PayPal, added the Dogecoin blockchain to its system to monitor risks, detect financial crimes and strengthen anti-money laundering (AML) compliance. TRM believes that some level of compliance will help drive further adoption of meme-based cryptocurrencies. Esteban Castaño, CEO of TRM Labs, said: "By integrating with Dogecoin, we are able to detect and investigate cryptocurrency fraud and financial crime, thereby achieving our shared goal of building a safer financial system for billions of people."
[The only human victory record in the "Go Human-Machine War" will be made into NFT for auction]
According to Coindesk, on May 11, 2021, South Korean Go nine-dan player Lee Sedol made an NFT of the only human victory record in the "Go Man-Machine War" for auction. This time, Li Shishi digitized the NFT content on the Ethereum blockchain, including basic information such as the game name, location, date, etc., records of every move from black 1 to white 180, and Li Shishi’s photos taken before the game record. The photos are made and so on.
The fourth game between Lee Sedol and Google's artificial intelligence AlphaGo was held on March 13, 2016 in Seoul, South Korea. At that time, Li Shishi won the white 180 hand set and defeated AlphaGo. This game was the first and last victory of humans in AlphaGo's 74 official chess games against humans.
[Beeple's largest collector Metapurse auctions all NFT assets in the B.20 project, with a reserve price of 58 million US dollars]
On May 11, Metapurse, the largest collector of Beeple and the founder of the B.20 project, announced the auction of the NFT "B.20 Master Key" representing the entire B.20 project in OpenSea. Holders of the B.20 Master Key will have ownership of all NFT assets in the B.20 project, including huge virtual land and monuments on the Cryptovoxels, Somnium Space and Decentraland platforms, and 20 pieces of "BEEPLE: EVERYDAYS - THE 2020 COLLECTION" A series of artworks and music works created by the famous DJ and encrypted artist 3LAU.
[ConsenSys will provide Microsoft Azure with managed blockchain services based on Ethereum]
Ethereum software company ConsenSys announced a partnership with Microsoft to provide its cloud computing operating system Azure customers with an Ethereum-based managed blockchain service "managed blockchain service". The parties are working together to provide services based on ConsenSys Quorum, an open-source protocol layer for Ethereum development. The ConsenSys-Microsoft collaboration aims to provide customers and business partners with easy access to multi-cloud blockchain services with additional permissions to ensure the privacy of transactions. The service will enable users to easily set up blockchain nodes, reducing the cost of enterprise blockchain deployments and programming time for developers.
【Office of Foreign Assets Control to the market can be used for"Analyze and track virtual currency transactions"Tool of】
According to Coingeek, according to the details of a notice published by the US Office of Foreign Assets Control (OFAC), the agency is soliciting bids from independent contractors for"Analyze and track virtual currency transactions"Tool of. The tools are understood to be used to prepare investigators from OFAC's Office of Global Targeting (OGT) group to analyze and track virtual currency transactions to gather attribution information for parties that OGT may place on the SDN list.
[Spain's largest department store El Corte Ingles applies for a trademark related to cryptocurrency to provide"Financial Services"】
According to Bitcoin.com, El Corte Inglés, Spain's largest department store group, has registered a trademark after applying to the European Union Intellectual Property Office."Bitcor". According to application no. 018434202, El Corte Inglés will attempt to provide"Financial services, financial transactions related to currency swaps, buying and selling currencies". While digital assets were not specifically mentioned, sources from El Corte Inglés told MSN that the company intends to conduct business related to cryptocurrencies in the future. However, an official representative of El Corte Inglés declined to comment. Officials stated that the trademark application is a"preventive registration"to avoid other companies using"Bitcor "name. Additionally, in addition to"Bitcor", El Corte Inglés also registered"Bitcor El Corte Inglés ", pending approval on June 28, 2021.
[Metromile, a U.S. UBI car insurance benchmarking company, announced that it will accept bitcoin payments and will purchase $10 million in bitcoin]
According to Globalreinsurance, Metromile, a benchmark UBI car insurance company in the United States, announced that it will accept Bitcoin payments. It is reported that the company will purchase $10 million in bitcoin in the second quarter. A spokesperson for Metromile said:"We believe that decentralized finance and cryptocurrencies will create lasting advantages in the insurance industry, including lower transaction costs, faster settlement times and faster claims."Additionally, life insurance company MassMutual purchased $100 million in bitcoin for its portfolio in December last year.
[Webster's Dictionary adds the definition of NFT and will auction animation NFT in OpenSea]
According to CoinDesk, Merriam-Webster (Webster Dictionary), an authoritative American dictionary publisher, has added the definition of NFT to its dictionary, and will auction the animated NFT of this definition this week. The definition of NFT in the dictionary is "a unique digital identifier that cannot be copied, replaced or subdivided, recorded in the blockchain, and is used to prove authenticity and ownership (specific digital assets and specific rights associated with them)."
The auction will be held on OpenSea, an NFT marketplace, and bidding will begin on May 11 at 9:30 EST and end on May 14 at 23:59 ET. Proceeds from the auction will be donated to Teach For All, a network of organizations in 60 countries that address educational inequalities around the world.
[American data company PALANTIR accepts Bitcoin as payment method]
According to news from Jinshi, the American data company PALANTIR accepts Bitcoin as a payment method and may also invest in Bitcoin.
[The IRS and TaxBit cooperate to audit encrypted transactions]
According to CoinDesk, the U.S. Internal Revenue Service (IRS) has partnered with crypto tax service provider TaxBit to provide audit services for cryptocurrency transactions.
[Boxer Floyd Mayweather will release NFT]
According to The Block, boxer Floyd Mayweather has cooperated with IronBend, Reality Gaming Group and Zytara Labs, three NFT companies, and will launch NFT on May 26. The NFT content is Mayweather's life and career.
[E-commerce giant eBay allows NFT to be sold on its platform]
According to Reuters news, e-commerce giant eBay said on Tuesday that it allows the sale of digital collectibles such as trading cards, pictures or video clips on its platform NFT, which is the first e-commerce company to take advantage of the recent NFT frenzy. In the short term, eBay-compliant sellers will be able to make NFT inventory available to eBay-compliant sellers, the company said, adding that users can expect to see future programs, policies, and tools that will allow for a broader category of NFT buying and selling transactions. "In the coming months, eBay will be adding new features that will bring blockchain-based collectibles to our platform," said Jordan Sweetnam, senior vice president and general manager of eBay North America.
As reported last week, eBay CEO Jamie Lannone said in an interview with CNBC that cryptocurrencies are being considered as a new payment option for users. In addition, Jamie Lannone also said that eBay is exploring ways to enter the NFT business.
[Bitcoin Vault and ESE have reached an agreement to jointly produce games and e-sports talent shows]
According to the merkle news, Bitcoin Vault (BCTV), a cryptocurrency project operated and managed by blockchain development company Electric Vault, has established a landmark partnership with European entertainment and technology ESE Entertainment (ESE) The company focuses on games and e-sports , a game talent show co-produced and co-distributed in five countries: China, Japan, South Korea, Vietnam and Brazil.
[Miami Lakes accepts cryptocurrencies to pay municipal fees]
According to CBSMiami, the Miami Lakes District now accepts cryptocurrencies for city fees, including Bitcoin, Litecoin, Ethereum or Bitcoin Cash. The town's current credit card provider, PayPal, is understood to have implemented the new payment method in March 2021. Consumers with PayPal Personal Accounts and PayPal Crypto Accounts can"Checkout with cryptocurrency"To pay for permits, business licenses, facility rentals, etc.
In addition, the rest of Miami-Dade County, which includes the Miami Lakes region, is also very friendly to cryptocurrencies. Recently, the Miami-Dade County Board of Commissioners established a cryptocurrency task force. The 13-member task force will include cryptocurrency and financial industry experts who will determine the viability of accepting cryptocurrencies as a form of payment in Miami-Dade County and discuss other related policies that would benefit Miami-Dade County Provide reports and recommendations to the committee. In addition, E11even Miami is also the first major nightclub in the United States to accept cryptocurrencies.
[Papa John's Pizza Now Offers UK Customers £10 Free Bitcoin]
American pizza franchise Papa John’s is offering its UK customers £10 in free bitcoin, Cyrptoslate reports. According to a new offer on the homepage of its website,"Get £15 off and free bitcoin when you spend at least £30 with select bitcoin deals online". The promotion is reportedly in partnership with London-based cryptocurrency exchange Luno, and according to its Facebook page, the promotion will end on May 23.
[AntChain and ICT successfully established the first international standard for blockchain privacy protection]
According to the official website of the International Telecommunication Union (ITU), the standard "TEE-Based Blockchain Privacy Computing" jointly initiated by AntChain and the China Academy of Information and Communications Technology was successfully approved and became the world's first international standard for general data privacy protection on the blockchain chain. It marks that the privacy protection technology of Chinese technology companies in the blockchain field has been highly recognized by the international community.
ITU is the world's mainstream communication standards organization. It was founded in 1865. Its members include more than 190 countries, more than 900 companies and academic institutions. It is also an authoritative international standardization organization worldwide.
[Sotheby's completes encrypted auction of Banksy's iconic artwork]
Major Auction House Sotheby’s Has Completed Repurchase of Banksy’s Iconic Protest Artwork, Cointelegraph Reports"Love is in the Air "’s crypto auction, which fetched $12.9 million. It is reported that the auction marks the first time Sotheby's accepts cryptocurrency as a payment method for physical artwork. According to the auction page, bidders can use BTC and ETH to pay through the cooperation between Sotheby's and Coinbase.
[Exit, one of the largest music festivals in Europe, now accepts Bitcoin as payment for tickets]
According to U.today news, Exit, one of the largest music festivals in Europe, has begun to accept bitcoin payments for ticket fees. Just select the "Pay with Bitcoin" option on the Exit website and scan the QR code to make the transaction.
central bank digital currency
central bank digital currency
[Yonyou and "Guoneng e-shopping" realize digital RMB online payment on the e-commerce procurement platform]
According to the news from the Financial Associated Press, as the first batch of digital currency payment participating units of the Guoneng e-purchase platform, UFIDA took the lead in completing the platform's first digital currency payment. It is understood that this business is an online payment in digital renminbi for price inquiry and comparison business fees, and it arrives in real time. This is the first successful implementation of digital renminbi in the application scenario of e-commerce B-end online payment.
[Director of the International Department of the People's Bank of China: We must grasp the first-mover advantage of digital currency]
According to Gelonghui, Tsinghua Financial Review’s WeChat public account published an article by Zhu Jun, Director of the International Department of the People’s Bank of China over the weekend, saying that international experience shows that the internationalization of currencies is led by the market, and the internationalization of the RMB must continue to be market-led and meet market demand. , but the government should create a better environment and conditions for the market to fully play its role. To promote RMB internationalization under the new situation, we must continue to improve the support system, which includes grasping the first-mover advantage of digital RMB and exploring potential areas for RMB internationalization.
[People's Daily: The central bank's digital currency research and development continues to advance]
On May 11, the People's Daily published an article "The central bank's digital currency research and development continues to advance." The article stated that in order to enhance the inclusiveness of financial services and improve payment efficiency and security, more and more countries and regions are accelerating the research and deployment of central bank digital currencies. In the future, the central bank's digital currency will have an important impact on the international monetary system, financial system and economic development. The central bank's digital currency will also have an impact on the global payment system during the implementation process, which requires the close cooperation of various central banks in the research and development and preparation stages. In the future, China will further carry out in-depth cooperation with countries jointly building the “Belt and Road” in areas such as research and development, pilot projects, and international payments.
[The Central Bank's Institute of Data Science and the Institute of Information and Communications jointly established two international standards to standardize blockchain function and performance testing methods]
According to China Securities Network, the Sixteenth Study Group of the International Telecommunication Union (referred to as ITU-T SG16) will hold a plenary meeting from April 19, 2021 to April 30, 2021. At this conference, the Digital Currency Research Institute of the People's Bank of China and the China Academy of Information and Communications Technology jointly established two blockchain evaluation projects in the SG16 Distributed Ledger Working Group Q22 in response to the pain points of the blockchain platform's function and performance evaluation. Standards to standardize blockchain function and performance testing methods.
[The Bank of Israel Steering Committee is studying the possibility of issuing a CBDC]
According to Globes, the Bank of Israel Steering Committee is studying the possibility of issuing a central bank digital currency (CBDC). Although it has not yet decided whether to issue a CBDC, the committee has released a draft model to discuss the characteristics of a future digital shekel.
[New MYbank Wallet in the Digital RMB APP Wallet]
According to every news report, a few days ago, in the digital renminbi APP wallet, on the page of selecting to add a wallet operator, the icon of MYbank has been lit up, and WeBank is still in the state of being opened soon. At the same time, some Alipay users can already use some functions of the digital renminbi. This means that on the basis of the six major banks of ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank, the operating agency of the digital renminbi has added MYbank. The reporter noticed that compared with the six major banks, MYbank has limited functions. At present, it can only check the balance and cannot be used for consumption on the digital renminbi APP.
[Cuban President: Cuba may adopt a convenient cryptocurrency]
Cuban President Miguel Díaz-Canel spoke about "the convenience of using cryptocurrencies (as part of the national economy)" during an online conference. He also spoke of his willingness to "continue to keep the public informed" of "decisions about the use of the currency," but gave no further details.
[People's Bank of China Hangzhou Central Sub-branch: Will strive to make digital renminbi land in application scenarios such as the Hangzhou Asian Games]
According to Xinhua Finance News, the relevant person in charge of the Hangzhou Central Sub-branch of the People's Bank of China said that it will strive to make digital renminbi available in application scenarios such as the Hangzhou Asian Games.
[Bank of Israel drafts central bank digital currency model]
The Central Bank of Israel has drafted a model for a digitized version of its national fiat currency, Bitcoin.com reported. According to published"model draft", the central bank digital currency can realize offline payment and can be exchanged into cash at any time. In addition, the Bank of Israel stated that the digital currency will provide some privacy, but will not be completely anonymous.
[Hong Kong: Discuss the feasibility of expanding and deepening the use of digital renminbi for cross-border payments]
According to Bloomberg, after the first phase went smoothly, Hong Kong is looking to expand cross-border testing of the digital yuan. The HKMA said, "We have tested the use of relevant applications, system connectivity and certain use cases, such as cross-border purchases, and we are discussing and cooperating with the People's Bank of China on the next stage of technical testing, including expanding and deepening The feasibility of using digital renminbi for cross-border payments.”
[Suning.com opens digital RMB payment service]
According to Techweb, on May 13, Suning.com officially launched the digital RMB payment service. From now on, consumers can use digital renminbi to pay when shopping on Suning.com. The product manager of Suning.com said: The digital RMB payment service is still in the trial operation stage. Consumers can use it when purchasing self-operated products on the Suning.com APP and offline stores in digital RMB pilot cities, but the final payment range still needs to The checkout page prompts are the main ones.
[Deputy Governor of the Bank of England: The Bank of England has good reasons to issue a central bank digital currency]
Investment and financing news
Investment and financing news
[Babel Finance completes US$40 million in Series A financing, with participation from Sequoia Capital China, Tiger Global Fund, etc.]
According to Coindesk, the encrypted financial service provider Babel Finance (Babel Finance) announced the completion of a $40 million Series A round of financing, Wanwu Capital (an early-stage fund under Boyu Capital), Sequoia Capital China, BAI Capital, Tiger Global Fund, Dragonfly Capital (Dragonfly Capital) and other top institutions participated in the investment.
【Duet Protocol raises USD 3 million】
According to zycrypto news, Duet Protocol, a synthetic asset protocol provider that migrates traditional stock assets to encrypted assets, announced the completion of the first round of financing, totaling $3 million. Investors include DraperDragon, BIT Digital Inc (NASDAQ: BTBT), Everest Ventures Group, OmniLAB, One Block Capital, Dutch Crypto Investors, LD Capital, Zonff Partners, Cabin VC, ArkStream Capital and Moonwhale Ventures. In addition, individual investors include partners of A&T Capital.
[NFT marketplace Wilder World raises $3 million, led by Spartan Group]
According to Venturebeat, the decentralized artist DAO and NFT market Wilder World completed a $3 million private placement financing, led by Spartan Group, with participation from DCG, Animoca Brands, Republic Realm, and Signum Capital.
【Encryption Derivatives Trading Platform GlobeDX Receives Strategic Investment from Three Arrows Capital】
According to official news, GlobeDX, an encrypted derivatives trading platform, announced that it has obtained a strategic investment from Three Arrows Capital and established a partnership. The investment amount is undisclosed.
[Sky Mavis completes $7.5 million in Series A financing, with billionaire Mark Cuban participating]
According to official news, Sky Mavis, the developer of the encrypted game Axie Infinity, announced the completion of a US$7.5 million Series A financing. This round of financing was led by Libertus Capital, and Collab+Currency, Block Tower CapitaL, and billionaire Mark Cuban participated in the investment.
[Brazilian cryptocurrency fund management company Hashdex completes $26 million in financing, with participation from Coinbase and Softbank]
According to Bloomberg, Hashdex, a Brazilian cryptocurrency fund management company, has completed $26 million in financing, led by venture capital firm Valor Capital Group, SoftBank and Coinbase Venture, as well as Brazil’s Igah Ventures, Globo Ventures and Canary.
[NAOS Finance, an off-chain asset monetization lending agreement, announced Coinbase Ventures as its strategic investor]
Official news, off-chain asset monetization lending agreement NAOS Finance announced that Coinbase Ventures is its latest strategic investor.
[Blockchain game company Big Time Studios announced the completion of a $10.3 million Series A round of financing]
According to CoinDesk, blockchain game company Big Time Studios today announced the completion of a $10.3 million Series A round of financing, with investors including North Island Ventures, Digital Currency Group, Kernel Ventures, OKEx Blockdream Ventures, YBB Foundation, DFG, Alameda Research, LD Capital, Circle Financial, and Sound Ventures, founded by Ashton Kutcher, also participated.
[Jenny Metaverse DAO, which focuses on NFT collections, completes $7 million in financing, led by Multicoin Capital and others]
According to Coindesk, Jenny Metaverse DAO, which focuses on NFT collections, completed $7 million in financing, led by Multicoin Capital, Animoca Brands, Metapurse.eth, Ascensive Assets, 0xb1, IOSG Ventures, Moonrock Capital, Morningstar Ventures, Spartan Group, 3Commas, Vendetta Capital , Hillrise Ventures, Building Blocks, Windfall LLC, Quantstamp founder Richard Ma, ParaFi partner Santiago Roel, best-selling author Neil Strauss, and CoinGecko co-founder participated in the investment.
[Call of Duty developer raises $21 million for NFT game Big Time]
According to decrypt news, Ethereum-based start-up game developer Big Time Studios recently released a PC role-playing game Big Time based on Ethereum.
[ConsenSys founder Joseph Lubin plans to raise $75 million in new venture capital fund]
ConsenSys founder Joseph Lubin's new venture capital fund, Ethereal Ventures, is seeking to raise $75 million, according to a regulatory filing with the U.S. Securities and Exchange Commission (SEC). The fund's issuer is called Ethereal Ventures Fund I LP.
[Encryption mining company Argo Blockchain completes the acquisition of two data centers in Quebec]
According to foreign media reports, the encryption mining company Argo Blockchain has completed the acquisition of two data centers in Quebec, Canada. It is reported that the two data centers have a combined power generation capacity of 20 megawatts and are almost entirely powered by hydroelectric power. Currently, Argo Blockchain has placed a considerable portion of cryptocurrency mining equipment in these two data centers.
[NFT game developer Animoca Brands completed over US$88.88 million in financing, with a valuation of US$1 billion]
According to Cointelegraph, Animoca Brands, a game developer focused on NFT, announced today that it has completed a financing of US$88,888,888 at a valuation of US$1 billion. Kingsway Capital, Hashkey Fintech Investment Fund, RIT Capital Partners and Huobi participated.
[VanEck Bitcoin Tracking Fund has held $10 million in investment]
Launched last month, the VanEck bitcoin tracker fund held $10 million in investments as of Thursday, according to a regulatory filing with the U.S. Securities and Exchange Commission, CoinDesk reported. The fund is hosted by crypto exchange Gemini, charges a 1% fee, and is only open to accredited investors and certain offshore accounts. The $10 million appeared to be seed money for VanEck and its affiliates, according to one of the documents. VanEck, a New York-based mutual fund and ETF specialist, has been trying (and failing) to launch a bitcoin ETF in the US for years.
[NFT service infrastructure platform Project Galaxy completes seed round financing, Multicoin Capital participates]
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[U.S. Senator Proposes Distributed Ledger Technology as "Key Technology Priority"]
According to CoinDesk, U.S. Senator Cynthia Lummis wants the U.S. government to make blockchain distributed ledger technology a priority. Lummis is sponsoring an amendment to add blockchain to the Cross-Strait Act, which would create a new Bureau of Technology and Innovation and set 10 "Technology Focus Areas" for the new entity to assess and develop A federal strategy to address. The bill will be flagged in committee on Wednesday, meaning the Senate Commerce, Science and Transportation Committee will vote on the amendment and decide whether to move it to the full Senate for a vote.
[Wharton School of Business and the World Economic Forum released a DeFi report: DeFi has the potential to change global finance]
According to Babbitt news, the Wharton School of the University of Pennsylvania and the World Economic Forum recently released a new report titled "DeFi Beyond Hype: The Emerging World of Decentralized Finance". The report noted that DeFi is a new and fast-growing field. However, it is still immature, with many unresolved economic, technical, operational and public policy issues. Despite the massive capital and associated network effects that certain protocols have attracted in a short period of time, the DeFi space remains volatile.
DeFi has the potential to transform global finance, but activity to date has largely focused on speculation, leverage, and yield generation within the existing community of digital asset owners. Furthermore, the flexibility, programmability, and composability that make DeFi services so novel also expose new risks, from hacks to unexpected feedback loops between protocols.
Retail investors, professional traders, institutional players, regulators, and policymakers need to generate enthusiasm for the innovative potential of DeFi while clearly understanding the challenges it faces. Developers are actively working on addressing vulnerabilities and introducing new mechanisms to effectively manage risk, but the process is still a work in progress.
[Researcher at the Institute of Strategic Studies, Chinese Academy of Sciences: It is recommended that my country actively explore the inclusion of private currencies such as Bitcoin in my country's foreign exchange asset reserves]
Yesterday, a researcher at the Institute of Strategic Studies of the Chinese Academy of Sciences published an article on the WeChat public account "Tencent Research Institute", discussing in detail the potential risks of private digital currencies, stablecoins and legal figures, and giving suggestions for countering them. When talking about dealing with the potential risks of private digital currencies, the article suggests closely tracking the latest developments, doing a good job of risk research and prediction, reserve risk response technologies and solutions in advance, and actively explore the inclusion of private digital currencies such as Bitcoin into my country's foreign exchange asset reserves . At the same time, strengthen the innovative exploration and risk assessment of the new concept and new structure of stable currency, actively connect with supervision, and do a good job in compliance development.
[Shanghai Securities News: Virtual currency chaos, "leek harvester" urgently needs to be rectified]
Since last year, the skyrocketing price of Bitcoin has driven the madness of the entire currency circle. Some celebrities, including Musk, have even become "carriers" of many virtual currencies. Dogecoin and Shiba Inucoin skyrocketed and plummeted amid Musk's "calling orders". With the rise of currency speculation, investors who lack the ability to discern are becoming the target of hunting. On the one hand, "cottage coins" are popular, and on the other hand, dealers are brutally harvesting. The threat of industry chaos to residents' wealth is increasing day by day. Many people in the industry have appealed that this field urgently needs to be rectified and standardized by relevant departments.
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