National Day Blockchain Events

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I have gone to work today, and my balance during the National Day holiday cannot be recharged. We celebrated the 8 days of holiday, and Amber is also very lively. There are big news at home and abroad one after another, hot spots one after another, and there is no meaning of vacation at all. The following ostrich night shift editor will take you to review the major events at home and abroad that you may miss during the National Day. .

01

foreign

BitMEX is sued, executives leave

Amber directly broke heavy news on the first night of the holiday. The US Department of Justice and the US CFTC have filed criminal charges against BitMEX and its four founders and executives, claiming that it conspired to violate the US Bank Secrecy Act and operate without registration The trading platform involved in violation of KYC and anti-money laundering related regulatory regulations. Samuel Reed, the chief technology officer and co-founder of BitMEX, was arrested in Massachusetts on October 1 and will stand trial in the local federal court.

After being accused, BitMEX’s parent company HDR Global Trading Limited (HDR) issued a statement saying that it would fight these allegations. As the leading cryptocurrency derivatives trading platform, BitMEX has been subject to regulatory siege. Users bluntly said that “US 9.4” is coming. However, although BitMEX was sued and the founder was arrested, some people are fortunate that the market did not experience a sharp drop. Bitcoin is still above $10,000 and has returned to the level before the decline.

One week after being accused on the last day of the holiday, BitMEX’s resistance came. One of the defendants in the case, Arthur Hayes, ceased to serve as the CEO of BitMEX from now on, and another named and arrested defendant, Samuel Reed, ceased to serve as the CTO of the exchange. The other two defendants, Ben Delo, will not hold executive positions in BitMEX’s parent company 100x Group. In addition, Greg Dwyer will leave the position of Director of Business Development.

Wan Hui, the founding partner of Primitive Ventures, posted a comment on the BitMEX incident on Weibo. This is not at the same level as “9.4”. Americans must not open exchanges, and exchanges must not touch American users casually. She said that September 30th is the annual accounting settlement date of the CFTC and SEC, so there are usually many regulatory actions in the third quarter. For example, last year’s EOS penalty was paid on September 30th. This time, the actions of the regulators feel that BitMEX’s previous game talks with regulators collapsed, so it means that BitMEX is ready for a long-term and regulatory game.

How will the game between BitMEX and supervision proceed in the future, and will it ultimately yield to supervision like many “predecessors”?

Once again won, the judge approved the SEC’s motion for summary judgment against Kik

Perhaps the BitMEX incident was too loud and overshadowed the Kik incident. On the same day, American Judge Alvin Hellerstein expressed his support for the US SEC’s position and approved the SEC’s motion for summary judgment in the lawsuit against Kik and its $100 million ICO.

The judge held that the facts showed that Kik violated Article 5 of the Securities Law by offering and selling securities without submitting a registration statement or exemption from registration. As a result, the SEC’s motion for summary judgment was approved, while Kik’s motion for summary judgment was rejected.

The judge stated that if they cannot agree on a proposed judgment, their differences should be noted in a document, based on a separate statement in a separate letter, and on October 20, 2020 Submit before.

Kik CEO Ted Livingston said he was very disappointed with the result and is still considering all options, including appeals.

Regarding the entanglement between the SEC and Kik, you can read the article “”. The court has already pronounced a verdict. How long can Kik resist?

There are regulations, the US Department of Justice announces the cryptocurrency enforcement framework

Whether it is BitMEX or Kik, it means that the US government has never slackened the supervision of cryptocurrencies. Indeed, the US Department of Justice has already given some guidance at the policy level.

U.S. Attorney General William P. Barr announced on Thursday that it has released a cryptocurrency enforcement framework, which was prepared by its Cyber ​​Digital Task Force. He stated that the framework provides a comprehensive overview of emerging threats and law enforcement challenges related to the increasing popularity and use of cryptocurrencies.

However, shortly after the announcement of this law enforcement framework, there were negative responses from some people in the crypto community. In this 83-page law enforcement document, the word “crime” was cited 168 times. Many in the encryption community interpreted the Ministry of Justice’s position as a direct attack on encryption technology, marking the entire industry as a means of crime.

Ripple CEO Brad Garlinghouse believes that this report and the overall approach in the United States are far from providing clear guidance: “A contradictory report of more than 70 pages does not mean clear regulation. Many responsible Private companies are trying to abide by the rules, but this is becoming more and more difficult.” Including Ripple executive chairman Chris Larsen also said that if the United States’ hostile attitude towards cryptocurrency companies does not change soon, he will withdraw Ripple from the United States. , Or will move to Singapore and the UK.

Today is different from the past. Regulatory omissions and irregularities will only cause more controversy. In order to retain Ripple and other large encryption companies, the US regulatory level still has a long way to go.

Add another ban! UK FCA bans the sale of crypto derivatives to retail consumers

Not only the United States, but the British regulatory agencies have also come forward. The Financial Conduct Authority (FCA) of the United Kingdom explicitly prohibits the sale of derivatives and exchange-traded notes (ETNS) involving specific types of crypto assets to retail consumers.

FCA stated that the ban will take effect on January 6, 2021. The above-mentioned products are not suitable for retail consumers, and retail consumers cannot reliably evaluate these products, which will cause harm. FCA estimates that the ban on these products will save retail consumers about £53 million.

Regarding the FCA ban, Townsend Lansing, head of product at CoinShares, a crypto asset management company, said he was disappointed. This ban is unwise and will not benefit retail investors. According to Lansing, the ban will have the opposite expected effect because it will only allow British retail investors to access unregulated cryptocurrency exchanges. Lansing stated that the FCA derivatives ban in the UK indicates that cryptocurrencies are generally disapproved.

The crypto rating agency Webster Ratings also tweeted that according to the logic of the British FCA, it should also ban bets on stocks and traditional futures markets, because trading these assets loses more money than trading cryptocurrency derivatives. many.

The hostile attitude of the United States towards cryptocurrency has made Ripple feel pressured and even wants to withdraw from the United States. If the United Kingdom also opposes cryptocurrency, it will only lose more high-quality large-scale crypto companies, and will be caught on this runway. Throw farther and farther.

Actively promote or question and oppose? Different countries have different attitudes

CBDC has always been a major focus of the world. At present, domestic central bank digital currencies have entered the urban red envelope pilot stage. Foreign countries have generally liberalized their attitudes towards CBDC and are making efforts to promote it, but the opposition still exists.

Fruitful

Bahamas

The Central Bank of the Bahamas has announced that it will “gradually issue” the consumer-oriented digital currency “Sand Dollar” across the country on October 20. The Central Bank of the Bahamas stated that it has conducted a rigorous cybersecurity assessment of CBDC to eliminate public concerns about using digital currency payments.

Korea

South Korea’s progress in central bank digital currency is relatively rapid. The Bank of Korea (BOK) stated that it completed the CBDC-based design/requirements definition and implementation technical review in July last year, and on this basis, it promoted the second phase of the project “CBDC work process analysis and external consultation.” The third phase will conduct CBDC system testing to check whether the CBDC system can operate normally in a “restricted environment”.

BOK also plans to establish and test a CBDC pilot system next year. In addition to the urgent need to issue CBDC, the Bank of Korea has also decided to review the technical and legal requirements for the introduction of CBDC and run a CBDC test system to preemptively respond to changes in the internal and external payment environment.

Push

Japan

The Liberal Democratic Party’s New International Order Creation Strategy Headquarters has prepared a mid-term report for discussions aimed at establishing the country’s economic security strategy. The report requires the country to take the lead in formulating the “Industrial Data Application Promotion Law (tentative name)” in the world, and to cooperate with European and American countries to introduce and issue central bank digital currency CBDC as soon as possible.

United States

US Deputy Treasury Secretary Justin Muzinich stated in a speech on the 7th that the US Treasury Department is working with the Federal Reserve to study a potential central bank digital currency (CBDC) linked to the US dollar. Muzinich said that the Federal Reserve and the Treasury Department are also part of an international working group evaluating digital currencies. He believes that the use of distributed ledgers obviously has efficiency advantages and cost advantages, but the United States and Europe must cooperate to regulate cryptocurrencies.

Opposition

Canada

However, there are still some backward opponents who oppose the central bank’s digital currency. The Bank of Canada recently released a report on the risks and benefits of central bank digital currencies. The report said that central bank digital currency (CBDC) based on anonymous tokens will bring special security risks. These risks come from how to aggregate and store balances, how to use CBDC for transactions, and how various solutions (such as e-wallets, crypto exchanges, and banks) compete to attract users.

Square, the strongest milk king, bought $50 million worth of Bitcoin

On the last night of the holiday, Square, one of the US mobile payment giants founded by Twitter CEO Jack Dorsey, announced that it had purchased approximately 4,709 Bitcoins with a total investment of 50 million US dollars. The company said in a statement: “Square believes that cryptocurrency is a means of economic empowerment and provides a way to participate in the global currency system, which is in line with the company’s mission.”

As soon as the news of Square’s massive purchase came out, it also instantly stimulated the rise of Bitcoin, and brought back BitMEX’s market. Square has invested in bitcoin many times, and it is inseparable from its CEO Jack Dorsey. Jack Dorsey marked bitcoin on his personal tab page, which shows his love for bitcoin.

More and more mainstream large institutions are choosing Bitcoin as a reserve asset, which is one step closer to Bitcoin being recognized by the public, and the bull market of Bitcoin is one step closer.

02

domestic

The digital renminbi is making rapid progress, and the red envelope pilot has been launched

Fan Yifei, deputy governor of the People’s Bank of China, said at the Sibos annual meeting on Monday that the digital currency being developed by the People’s Bank of China has conducted pilot transactions of 1.1 billion yuan, with 3.13 million transactions and more than 113,300 individuals opened. Digital wallets and approximately 8,800 corporate digital wallets.

Fan Yifei said that for most of the past year, the central bank’s digital currency has been tested in Shenzhen, Xiong’an and other areas, and will also be piloted at the upcoming 2022 Winter Olympics. Testing has made positive progress, and as of the end of August, more than 6,700 use cases have been implemented.

According to the Shenzhen Weibo Press Office, Shenzhen officially launched a digital RMB red envelope event on the evening of the 8th. The red envelopes are distributed to all Shenzhen residents by lottery. The citizens can use the red envelopes in 3389 merchants that have completed the digital RMB system transformation in Luohu District. This time the consumption of red envelopes totaled 10 million yuan, and 50,000 places were drawn through lottery, each of which was 200 yuan. However, you can apply only if you are in Shenzhen. From the early morning of October 9th, individuals in Shenzhen can apply for digital RMB red envelopes online.

Shenzhen distributed a huge amount of digital RMB red envelopes, which marked a huge breakthrough in the application scenarios of the central bank’s digital currency. It is entering the daily lives of thousands of households and is still at the forefront of the world.

Involved in financial disputes, Zhao Dong was sued for profit

Zhao Dong, who has been in trouble this year, was reported to have news during the National Day. Wu said that the blockchain posted a post on Weibo that a screenshot of Zhao Dong was circulated on the Internet on the 6th. A financial officer sued Zhao Dong for a dispute, saying that Zhao Dong’s Dfund made a profit of more than 100 million yuan and announced that it would be given to the financial staff every time. People rewarded 1 million yuan, but the bonus was not given in the end.

The judgment document stated that the court did not support the financial officer’s request and believed that there was no evidence to prove the profit and bonus. Zhao Dong said that “the fund is now in a state of loss, and no one is paying dividends.” Zhao Dong’s news is endless, he was arrested and prosecuted, but he was not completely falsified or confirmed, waiting for the truth of the matter.