News Weekly｜Coinbase's trading volume on the first day of listing exceeded 10 billion US dollars

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, mining information, project trends, technological progress and other industry trends for the week. This article is one of the weekly news magazines, giving you a glimpse of the major events in the blockchain industry this week.

▌Galaxy Digital submits Bitcoin ETF application in the United States

Jinse Finance reported that the encryption investment company Galaxy Digital submitted an application for a Bitcoin ETF in the United States, hoping to obtain approval from the US Securities and Exchange Commission (SEC). The firm is the eighth company to file a bitcoin ETF application in the United States. So far, the SEC has been reluctant to approve the traded product. Seven other companies are also awaiting SEC approval.

▌U.S. Senate Confirms Gary Gensler as SEC Chairman

Jinse Finance reported that the U.S. Senate confirmed Gary Gensler as chairman of the U.S. Securities and Exchange Commission (SEC). Gensler, who was nominated for the position by U.S. President Joe Biden in January, previously ran the Commodity Futures Trading Commission (CFTC), where he oversaw new rules on derivatives after the 2008 financial crisis. As SEC chairman, he will have ample opportunity to create regulations specific to the cryptocurrency industry, or determine how existing regulations should be applied. “Bitcoin and other cryptocurrencies bring new ideas to payments and financial inclusion, but they also present new investor protections that we still need to focus on,” Gensler said during his Senate Banking Committee confirmation hearing last month. Question. If confirmed as SEC Chairman, I will work with other commissioners to promote new innovations, while also ensuring investor protection is at the core.”

Tencent News has replaced the "Digital Collection" section in the original APP with "Digital Order": Jinse Finance reported that Tencent News has replaced the "Digital Collection" section in the original APP with "Digital Order", and its "Digital Collection "Business Adjustment Announcement" shows that due to the adjustment and transformation of the business model, from July 1, 2022, Tencent News will suspend the sales service of digital collections, and users can view the purchased collections in the Tencent News APP. [2022/7/13 2:11:06]

▌The central bank issued the "Financial Institutions Anti-Money Laundering and Anti-Terrorist Financing Supervision and Management Measures", which will come into effect on August 1

According to news on April 16, the People's Bank of China issued the "Measures for the Supervision and Administration of Financial Institutions' Anti-Money Laundering and Anti-Terrorist Financing" (hereinafter referred to as the "Measures"), which will come into force on August 1, 2021. The "Measures" further clarify the internal control and risk management requirements of financial institutions for anti-money laundering. Referring to internationally accepted rules, financial institutions are required to carry out self-assessment of money laundering and terrorist financing risks, and establish internal control systems and corresponding risk management policies based on risk conditions and business scale, and further clarify financial institutions' anti-money laundering organizational structure, human resource protection, and anti-money laundering. Money laundering information system, anti-money laundering audit mechanism and other requirements. In order to prevent the risk of anti-money laundering supervision of overseas branches, the management requirements of financial institutions for overseas branches are clarified. According to the current situation of my country's financial industry development, combined with the requirements of preventing and defusing major financial risks, the "Measures" improve the scope of anti-money laundering obligations, and include non-bank payment institutions that have been specified in the relevant normative documents on anti-money laundering into the scope of application of the "Measures". Subjects with anti-money laundering obligations such as microfinance companies and wealth management subsidiaries of banks.

CCTV Financial Report "Russia Considers Accepting Bitcoin Payment for Oil and Gas Exports" Related News: On March 25th, CCTV Finance and Economics CCTV2 Economic Information Network Program reported "Russia Considers Accepting Bitcoin Payment for Oil and Gas Exports" related news.

Jinse Finance previously reported that Pavel Zavalny, chairman of the Energy Committee of the Russian Congress, said at a press conference on Thursday that Russia is willing to accept Bitcoin for its natural resource exports. [2022/3/25 14:18:18]

▌Nigeria suspends identity verification government services for financial technology companies Encryption companies may not be able to recruit new customers

The Nigerian government on Friday suspended the identity verification system for fintech companies. While they wait for the government to install the revised identity system, fintech companies cannot legally recruit new customers or must switch to services that do not require identity checks. For crypto companies, it's yet another hurdle. Analysts say this is likely to be related to the government's desire to simplify identity verification.

▌U.S. senators are drafting bills to establish tax filing requirements for cryptocurrencies

Jinse Finance reported that U.S. Senator Rob Portman said at a hearing of the Senate Finance Committee on Tuesday that he is drafting a bill that will establish tax reporting requirements for cryptocurrencies. Portman said: We are working on a cryptocurrency bill that will define cryptocurrencies for tax purposes and try to provide appropriate reporting rules. Portman also sought feedback on the topic from IRS Commissioner Charles Rettig. Rettig said reporting requirements for cryptocurrencies could help narrow the tax gap.

China News Bookstore will release the "National Album" digital art certificate: Golden Finance reported that China News Bookstore will give away 9 digital art certificates (DAC) for free from February 1st to February 3rd in the form of blind boxes . A total of 10 themes will be sold in this event, with 10,000 copies for each theme, a total of 100,000 copies. There are 9 regular themes and 1 hidden theme.

It is reported that China News Bookstore is managed by Xinhua News Agency and was born in 1984. The digital art DAC of "National Album" is selected from the "National Album" project of Xinhua News Agency. For the first time, historical photos are combined with technology, and the digital art DAC is generated through blockchain technology. It is a digital artwork with great collection value. Selected 10 digital images show various important historical events in China. [2022/1/26 9:12:46]

▌The Spanish Ministry of Finance warns cryptocurrency holders to file tax returns

The Spanish Ministry of Finance (Ministerio de Hacienda) has issued a warning that crypto assets are taxable income and that holders of cryptocurrencies may be fined if they do not declare them. According to a Telemadrid report, the Spanish Ministry of Finance estimates that around 15,000 Spaniards will have to include cryptocurrency ownership in their tax returns.

▌India’s Finance Minister: Upcoming Crypto Bill Will Protect Investors From Cryptocurrency Volatility

Bloomberg Americas News Director: It is doubtful whether people want to earn income through Bitcoin or gold: Golden Finance reported that Bloomberg Americas News Director Joe Wiesenthal said in an article that the new crown pneumonia pandemic is threatening the US dollar's global dominance. More and more countries may start raising funds in local currencies to maintain stability in future crises. Ultimately, the dollar’s fortunes are unlikely to be binary, Wiesenthal said. With its liquidity and generally accepted standard of stable value, its dominance will not disappear overnight, and nothing can replace it. Some hope that neutral currencies like bitcoin or gold will emerge again. However, since no one uses these assets as a primary means of spending, it is doubtful that people would want to earn income from them. [2020/5/21]

Jinse Finance reported that Anurag Thakur, India’s Minister of Financial and Corporate Affairs, said that the upcoming encryption bill will protect investors from the volatility of cryptocurrencies. Thakur said: "Unlike fiat currencies, cryptocurrency prices fluctuate so much that it affects investors. Therefore, when making laws, we need to keep in mind the protection of investors' interests." Representatives of the Indian crypto industry said, The government may be considering some form of market "circuit breaker," limiting the number of transactions on cryptocurrency exchanges under certain conditions. Most importantly, some argue, it is a stronger signal that a regulatory framework is emerging than the ban that had been feared earlier.

Ex-Denver Post Team Launches Blockchain-Based News Outlet: Former Denver Post Reporters and Editors Plan to Partner with Consensus-Backed Blockchain Startup “Civilian,” The New York Times reported on June 17. Media Company” to launch a new local media platform. The group left the Denver Post to start a new local state online newspaper, the Colorado Sun, The Times reported. New York hedge fund Alden Global Capital took over the Denver Post after buying parent company MediaNews Group, and managed it through its subsidiary Digital First Media. [2018/6/18]

▌Canadian regulators have approved three Ethereum ETFs, all of which will be listed next Tuesday

Canadian regulators have approved three ethereum exchange-traded funds (ETFs), all of which will begin trading next Tuesday. The companies behind these three Ethereum ETFs are Purpose Investments, Evolve and CI Global.

▌Shenzhen Longhua District will build a digital economy pioneer zone with the support of blockchain

Recently, "Shenzhen Longhua District Blockchain Incubator" and "Shenzhen Longhua District Digital Economy Industry Association" were unveiled. Longhua District has signed contracts with 12 blockchain incubators including Shenzhen Tencent Digital Economy, Daoyi Information Technology, Qulian Technology, and Defang Zhilian. Next, Longhua will seize the major historical development opportunities of "dual district construction" and "digital economy", adhere to the main line of digital industrialization, industrial digitalization, governance digitalization, and digital value, and use artificial intelligence, blockchain and other technologies as the core Support, vigorously cultivate new technologies, new formats, and new models of the digital economy industry, actively expand the application market, improve the industrial ecology, focus on improving the development level of the digital economy, and comprehensively build a digital economy pioneer zone.

▌Shengang Securities: The introduction of DLT and other technologies into bank IT systems is expected to promote the expansion of blockchain to all fields

Shenang Securities stated that with the maturity of the People's Bank of China's digital currency technology and the improvement of the payment and circulation environment, the bank's IT system will become a pioneer field for the implementation of various technologies. In terms of payment scenarios, supporting windows such as ATM machines and POS machine upgrades will gradually open; in terms of supply chain finance, the introduction of distributed ledgers based on blockchain technology into bank IT systems is expected to promote the expansion of blockchain technology to all fields.

▌Lockheed Martin adopts blockchain for supply chain management in Switzerland

Jinse Finance reported that US aerospace and defense contractor Lockheed Martin has signed an agreement with Silicon Valley distributed manufacturing platform SyncFab to modernize supplier capabilities across Switzerland to provide blockchain technology Another tangible use case. Under the new agreement, SyncFab will provide Lockheed Martin with direct access to its parts procurement and supply chain platform, which is built on the company's blockchain.

▌US SEC Commissioner: We have missed the time to ban Bitcoin

Crypto mom Hester Peirce says we're past the point where we can ban bitcoin, and it won't be possible unless the internet is completely shut down. But it would be foolish for the government to do so. She expressed those thoughts at the MarketWatch virtual conference earlier this week.

▌Founder of Bitcoin Advisory: Bitcoin is a "threat" to every asset

Golden Finance reported that Pierre Rochard, founder of Bitcoin Advisory, a Bitcoin consulting firm, tweeted today that Bitcoin is a "threat" to every asset in the world. Currencies, stocks, bonds, real estate, equipment, vehicles, etc., if they appear on the balance sheet, they will underperform Bitcoin.

▌Federal Reserve Bullard: Cryptocurrencies are going in the wrong direction

Fed's Bullard says cryptocurrencies are going in the wrong direction as public favors unified FX.

▌The American "Time Magazine" will accept Bitcoin payment and hold Bitcoin

Jinse Finance reported that according to the statement of Grayscale CEO Michael Sonnenshein, the US "Time Magazine" has cooperated with Grayscale to publish a video series around cryptocurrencies. As part of the agreement, Time Magazine agreed to accept payments in bitcoin and add bitcoin to its balance sheet. Earlier in March, Keith Grossman, president of Time Magazine, said on Twitter that the magazine would start accepting cryptocurrencies as payment for digital subscriptions within the next 30 days.

▌Coinbase will distribute 100 shares to all full-time employees

Jinse Finance reported that Coinbase has decided to distribute 100 shares to each of its approximately 1,700 full-time employees around the world. Based on a reference price of $250 set by Nasdaq, each employee at the company will receive $25,000.

▌Coinbase's trading volume on the first day of listing exceeded 10 billion US dollars

On the first day of listing, the turnover of Coinbase exceeded 10 billion US dollars, and the turnover rate reached 24%. It once rose by more than 70% during the session.

▌Coinbase CEO’s stake as of the first day’s close is worth about $13 billion

Shares of Coinbase closed at $328.28 on its first day of trading, and CEO Brian Armstrong's stake is worth about $13 billion, although Coinbase shares were trending lower on Thursday. As Coinbase's largest individual shareholder, Armstrong owns nearly 40 million shares, giving him control of about 21 percent of the company, according to the company's prospectus.

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