Golden Morning Post | Li Bo, deputy governor of the central bank: is studying the regulatory rules for Bitcoin and stablecoins

Headline

▌Li Bo, deputy governor of the central bank: studying the regulatory rules for Bitcoin and stablecoins

On April 18th, Li Bo, deputy governor of the central bank, said at the Boao Forum that he is studying the regulatory rules for Bitcoin and stablecoins. In the future, if any stablecoin wants to become a widely used payment tool, it must be subject to strict supervision. Just like banks or quasi-banking financial institutions are highly regulated. Bitcoin and stablecoins are crypto assets. Encrypted assets are an investment option. It is not a currency itself, but an alternative investment product.

Market

As of press time, according to Huobi global data:

BTC's recent transaction price was $56,170, with an intraday increase and decrease of +1.29%;

The latest transaction price of ETH is 2235 US dollars, with an intraday increase and decrease of +4.23%;

Golden Noon News | A list of important developments at noon on February 9: 7:00-12:00 Keywords: BTC, Coinbase, hedge funds, BSV

1. BTC broke through the $10,000 mark, and mainstream currencies generally rose;

2. Community members said that Coinbase may list BSV;

3. Bitcoin continues to grow as a payment medium for merchants;

4. Both Facebook Twitter and Instagram accounts were hacked;

5. Data: Encrypted hedge funds outperformed traditional hedge funds in 2019;

6. BM: Every high-traffic website needs to adopt blockchain and secure hardware keys;

7. Doctor Doom: The entire garbage coin market is a scam;

8. Analyst: Once it breaks through $10,000, it will be easy for BTC to rebound to $14,000;

9. BSV nodes accidentally connect to BCH nodes. [2020/2/9]

BCH's recent transaction price was US$963, with an intraday increase and decrease of +4.11%;

Golden Relativity | Zhu Jiang: Compared with existing cryptocurrencies, central bank digital currencies are more convenient for payment: In the Golden Theory of Relativity held today, on the question of "what are the differences between central bank digital currencies and the cryptocurrencies currently under discussion", Zhu Jiang, general manager of Kingsoft Cloud's blockchain department, said that compared with existing cryptocurrencies, the central bank's digital currency is more convenient for payment, and cryptocurrencies are more anonymous. Cryptocurrency is not suitable for payment, the main reason is that it is unstable, and everyone must have experienced the market in the past two days. Anything that is unstable is not suitable for payment, because the price changes in the next second of payment. The second difference from cryptocurrency is the replacement of cash M0, and cryptocurrency is born to subvert the centralized currency issuance method. Cash circulation has several characteristics, face-to-face, no need for an account system, anonymity, etc. I have also been thinking about how to use the digital currency issued by the central bank. Is it possible to have an electronic wallet instead of a bank account. If the e-wallet is lost, it is like losing cash and can only be retrieved through lost and found. Whether the central bank's digital currency must be completely traceable, I don't think so. [2019/8/15]

BSV's recent transaction price was $332, with an intraday increase and decrease of +3.83%;

Golden Theory of Relativity | Zhu Jiang: The overall strategy of the central bank is orderly and can be advanced or retreated. The most important thing is to let the central bank’s digital currency circulate: In the golden theory of relativity held today, the discussion on "what will the future of payment and settlement based on digital currency be like" Question, Zhu Jiang, general manager of Kingsoft Cloud’s blockchain department, said that there is a saying that if blockchain technology covers the entire process of digital currency issuance and circulation, then the payment and settlement structure will be abandoned, and transfer payment institutions will also be marginalized. There are actually two situations. First, under the two-tier delivery system of the central bank and commercial banks, the blockchain covers the entire process of digital currency issuance and circulation, and the transfer of the entire transaction is directly completed by the blockchain network protocol. . In this way, payment and clearing institutions will be abandoned, and transfer payment institutions will also be marginalized. Second, in the dual delivery system, the agency issuer uses its own logo-zce to issue digital currency. Payment and clearing institutions can transform the existing network to support the transfer and settlement of digital currency. By paying reserves to the central bank to obtain the issuance of digital currency, the issued digital currency becomes the liability of the agency delivery agency. These digital currencies are identified and the circulation of digital currencies is monitored. In this case, the transfer and settlement institutions can still play a role and find their respective roles. My point of view is that, on the whole, it is still in the tentative stage. The overall strategy of the central bank is methodical and can be advanced or retreated. The most important thing is to let the central bank's digital currency circulate, and then develop more business scenarios. [2019/8/15]

EOS recently traded at $7.27, with an intraday increase and decrease of +6.07%;

Jinse Finance exclusive news: Qihoo 360 is negotiating investment matters with Huobi: Jinse Finance reporters learned that Qihoo 360 Technology Co., Ltd. is negotiating investment matters with Huobi Group, and Jine Finance will continue to follow up on specific investment details.

Huobi was once the world's number one digital currency exchange, accounting for 60% of the global digital currency trading market.

Beijing Qihoo 360 Technology Co., Ltd. is one of the largest Internet security companies in China. [2017/12/15]

The latest transaction price of LTC is 272 US dollars, with an intraday increase and decrease of +2.85%;

The latest transaction price of DOT is 37.32 US dollars, with an intraday increase and decrease of +2.12%.

Policies

▌The Indian government will define any behavior related to encrypted assets as a crime

Market news: The Indian government will ban cryptocurrencies, imposing fines on those who trade or even hold such assets in the country. India's cryptocurrency ban is one of the strictest in the world and will make any activity involving crypto assets a crime.

Blockchain

▌Zoupingzuo of the People's Bank of China: Human value + blockchain is the ultimate form of currency in the future

Zou Pingzuo, a researcher at the Research Institute of the People's Bank of China and director of the China Manufacturing Finance Research Institute, said in a speech: "In the era of digital currency, human value + blockchain is the ultimate form of currency in the future. We have been talking about what is used as digital currency. The medium of the blockchain is the most reasonable and valuable. The currency transitions from the original commodity currency to credit currency, and finally returns to the value currency, which is the combination of the first major functions of currency and continuous growth and maturity. .”

Cryptocurrency

▌The Block News Director: The rumor that "CME Group will launch Dogecoin futures" is false

On April 19th, in response to the rumor that "Chicago Mercantile Exchange will launch Dogecoin futures", Frank Chaparro, news director of The Block, tweeted that "it has been confirmed with the source that this is false news."

▌Cryptocurrency futures single-day liquidation volume hits new high

Last weekend’s market turmoil triggered some 864,000 cryptocurrency futures liquidations, a new single-day record, according to data compiled by The Block. About 70% of these liquidations (approximately 613,000) occurred on the cryptocurrency exchange Binance. According to the chart, a total of $8.46 billion in long liquidation occurred on April 17. Of the total value of liquidations, $4.6 billion was Bitcoin futures.

▌Paris Hilton launched her own NFT, with a total price of more than 1.11 million US dollars

Paris Hilton has teamed up with designer Blake Kathryn to launch her own collection of NFTs. The collection features three unique pieces. The Hilton NFT collection is now sold out. Two-thirds of products offered multiple sales. Both "Hummingbirds in Minecraft" and "Legend of Love" were released in sets of 11. With the "Idol Crypto Queen" feature, only one version of NFT is available. "Hummingbirds in My Universe" and "Legend of Love" both sold out at $10,000 each. Generated $220,000 in sales for Hilton. Hilton is the heir of Hilton Hotel and a well-known American entertainer. He has expressed his love for the encryption industry many times before.

▌The U.S. Treasury Department will charge several financial institutions with using cryptocurrencies for money laundering

According to market news, the U.S. Department of the Treasury will charge several financial institutions with using cryptocurrencies for money laundering.

▌Market Crash Causes Bitcoin Transaction Fees to Soar to $47

On April 19th, according to Johoe-Hoenicke's data, nearly 130,000 transactions are waiting for confirmation on the blockchain. Bitcoin’s average transaction fee is currently at a four-month high of $46.88, up more than 200 percent from an average transaction fee of $15.56 on April 4.

Analysis of important economic dynamics

▌Deputy Governor of the Central Bank: It is necessary to ensure that speculation in encrypted assets does not cause serious financial risks

At the Boao Forum yesterday, when talking about the supervision of cryptocurrencies, Li Bo, the deputy governor of the People’s Bank of China, responded that it is necessary to ensure that speculation in such assets will not cause serious financial risks. Li Bo said that encrypted assets are an investment option, not a currency itself, but an alternative investment. Therefore, we believe that encrypted assets should play a role in the future, as an investment tool or an alternative investment. If it is used as an investment tool, many countries including China are also studying, that is, what kind of regulatory environment should exist for such an investment method. Although this regulatory rule is the minimum regulatory rule, there are still regulatory rules.

Golden Encyclopedia

Golden Encyclopedia | What is Ethereum Virtual Machine EVM

Ethereum Virtual Machine (EVM), EVM can execute code of arbitrary algorithmic complexity. In computer science terms, Ethereum is Turing complete. Developers can use a programming language (Solidity) that is syntactically similar to JavaScript and Python to create applications that run on the EVM.

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