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Next week, the crypto market will be shrouded in the “clouds” of regulation. Earlier this month, Democrat Elizabeth Warren, the chairman of the Economic Policy Subcommittee of the U.S. Senate Banking Committee, spoke to the chairman of the U.S. Securities and Exchange Commission (SEC). In a letter from Gary Gensler (Gary Gensler) stated that Gensler needs to respond by next Wednesday (July 28) on how the SEC protects investors in cryptocurrencies , and Congress will respond to the regulatory protection measures provided by the SEC Decide whether to take relevant actions to fill possible regulatory loopholes.
Earlier this week, Gensler asked in a speech at the year-end meeting of the American Bar Association Derivatives and Futures Law Committee to request cryptocurrencies based on the value of securities, stock tokens, stable value tokens backed by securities or other to provide the basis Virtual products such as securities synthetic risks need to be supervised by the Securities Law introduced in 1933 and should be sold to investors under the supervision of the SEC.
Whether Gensler will make more comments on the regulatory level before the final time given by Congress next week is worthy of attention.
In addition, the “Measures for the Supervision and Administration of Anti-Money Laundering and Anti-Terrorist Financing of Financial Institutions” issued by the People’s Bank of China on April 16 this year will be officially implemented next Sunday (August 1). The Measures further clarify the internal control and risk management requirements for anti-money laundering of financial institutions. In accordance with the current development of my country’s financial industry and the requirements for preventing and resolving major financial risks, the scope of the subject of anti-money laundering obligations has been improved, and non-bank payment institutions whose normative documents on anti-money laundering have been specified have been included in the scope of application of the Measures, and online small amounts have been added. Anti-money laundering obligations such as loan companies and bank wealth management subsidiaries.
The publicity period for the amendments to the Special Financial Information Act’s enforcement order issued by the Korean Financial Commission in mid-June will officially end next Tuesday (July 27). Important changes include that the exchange cannot go online or deal with its own or special related parties’ issuance. For the cryptocurrency, it is forbidden for cryptocurrency exchanges and employees to trade through relevant exchanges. It is clear that customer identification, suspicious transaction reports, and other matters related to the performance of anti-money laundering obligations, and that financial companies must conduct risk assessments on all customers, financial companies It is possible to construct a business system that differentiates management levels according to risk levels. After the announcement, the amendment will be completed as soon as possible after consultation with relevant ministries and commissions, and after deliberation by the Legislative Council and the Legislative Department.
In addition to supervision, the synthetic asset trading plan of Synthetix on Optimism will be officially launched , which will be one of the very important milestones for Synthetix in the Layer 2 layout process. Synthetix’s official information shows that the assets supported at the beginning of the launch include sETH, sBTC and sLINK, and the price is provided by Chainlink. In addition, some updates will be released in the next few weeks, including changes to the debt pool cache mechanism and the deprecation of iSynths (short tokens). Synthetix also stated that once the initial deployment is successful, the types and functions of Synth (synthetic asset tokens) will be expanded in the future, including the upcoming Synthetix futures.
As the leading project of the synthetic asset track, Synthetix’s first-mover advantage has been wiped out due to the relatively complex product design and the high cost of Ethereum network contract interaction. Synthetic asset projects such as Mirror are already active in the number of daily transactions. Achieved transcendence in terms of degree data. The access to mature L2 solutions may become a key opportunity for Synthetix to re-establish its advantages.
List of other key events ( click here to subscribe to the blockchain calendar )
US SEC Holds Hearing on Profit Connect Crypto Scam of Las Vegas Wealth Management Company
NEAR ecological decentralized exchange Ref.Finance open in Skyward Finance token sales
- The joint bidding document initiated by the Ethereum Foundation and ENS ends the bidding
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