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Golden Morning Post | Financial Stability and Development Committee of the State Council: Crack down on Bitcoin mining and trading



Headlines ▌Financial Stability and Development Committee of the State Council: Crackdown on Bitcoin Mining and Trading Behavior On May 21, the Financial Stability and Development Committee of the State Council (hereinafter referred to as the Financial Committee) held its 51st meeting to study and deploy key tasks in the financial field in the next stage. The meeting was presided over by Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council, and director of the Finance Committee, and responsible comrades from member units of the Finance Committee attended the meeting. The meeting pointed out that the financial system resolutely implements the decisions and deployments of the Party Central Committee and the State Council, increases support for the real economy, has a stable monetary policy that is flexible and moderate, and that the credit policy accurately adapts to the needs of market players. Support for epidemic prevention and control and economic and social development has achieved remarkable results. The meeting called for resolutely preventing and controlling financial risks. Adhere to bottom-line thinking, strengthen all-round scanning and early warning of financial risks, promote the reform of small and medium-sized financial institutions to reduce risks, focus on reducing credit risks, strengthen the supervision of financial activities of platform companies, crack down on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field. It is necessary to maintain the stable operation of the stock, bond and foreign exchange markets, severely crack down on securities violations, and severely punish financial violations and criminal activities. ▌Hong Kong plans to limit cryptocurrency exchange services to professional investors On May 21st, the Hong Kong Special Administrative Region Government's legislation on amending the "Anti-Money Laundering and Terrorist Financing Ordinance" (Cap. 615) ("Anti-Money Laundering Ordinance") It is suggested that the public consultation work has been completed. The government issued a document today. The document shows that it is recommended to refer to the similar empowerment provisions in the Securities and Futures Ordinance to empower the Securities Regulatory Commission to intervene and restrict or prohibit licensed virtual asset service providers when necessary. and the operations of its associated entities. Carrying out regulated virtual asset activities without a license is liable to a fine of $5 million and imprisonment for seven years; and in the case of a continuing offence, an additional fine of $100,000 for each day the offense continues. In addition, the Hong Kong government proposes that cryptocurrency exchanges operating in Hong Kong must be licensed by the Hong Kong market regulator and can only provide services to professional investors. Hong Kong’s Financial Services and Finance Bureau has been consulting the market on changes to crypto trading rules since last year. In a statement, the agency said it intends to introduce legislation in the upcoming 2021-22 Legislative Council session. Golden Noon News | March 17 at noon list of important developments: 7:00-12:00 Keywords: Beijing, House of Representatives, Toyota, Argentina 1. Beijing's "regulatory sandbox" will issue regulatory rules 2. The U.S. House of Representatives Worker Relief Act can stabilize Bitcoin and the stock market 3. The blockchain laboratory established by Toyota Motor will further explore blockchain technology; 4. Argentina’s blockchain-based official gazette website was attacked Hacking; 5. Media: Li Ka-shing is in the currency circle, Bill Gates is in the chain circle; 6. Former Vice President of the Bank of China: Bitcoin can only be digital "virtual gold" or "virtual asset"; 7. Dazhong Daily : Blockchain technology can optimize the current disease control and early warning system; 8. Game manufacturer Atari announced the start of issuing virtual currency; 9. BTC is now at $5,296, an increase of 3% within the day, and the top ten mainstream currencies generally rose. [2020/3/17]▌Chairman of the US SEC: Hope to strengthen the supervision of cryptocurrency exchanges US SEC Chairman Gary Gensler said at the annual meeting of the Financial Industry Regulatory Authority of the United States on Thursday that he hopes to strengthen the supervision of cryptocurrency exchanges, including those that only trade Bitcoin but currently does not require an exchange to register with the SEC. Gensler said: "This is a very volatile, even highly volatile asset class, and the investing public will benefit from enhanced investor protection on encrypted exchanges." The price is $37007.45, with an intraday change of +0.66%; ETH’s latest transaction price is $2410.85, with an intraday change of -0.50%; BCH’s latest transaction price is $677.55, with an intraday change of -2.27%; Golden Morning | December 15 List of important news overnight: 21:00-7:00 Keywords: Beijing, Tianjin, State Grid, Ethereum, Cryptography Applied research in the field of games. 2. 29 pilot banks in Tianjin joined the blockchain service platform and lent nearly 6 million US dollars. 3. Kou Wei, Chairman of State Grid: Blockchain and other technologies provide a strong impetus for the upgrading of power grid technology. 4. Luo Mei, director of Tsinghua SEM Digital Financial Assets Research Center: The accounting and taxation system of digital currency is the infrastructure for blockchain to promote industrial upgrading. 5. Xiao Lei, a financial analyst: Whoever uses digital currency well will have a greater probability of establishing a new global financial system. 6. Iden3, a startup company cooperating with the Ethereum Foundation, released a report: Ethereum can reach Visa’s TPS through ZK-Rollup. 7. Encryption technology is widely used in blockchain and other fields. The implementation of the "Encryption Law" will effectively promote the security construction of cyberspace. 8. The University of London and energy suppliers have launched a blockchain-based energy trading project. [2019/12/15] The latest transaction price of BSV is $171.73, an intraday change of +0.77%; the latest transaction price of EOS is $5.46, an intraday change of -1.14%; the latest transaction price of LTC is $177.99, an intraday change of -0.48 %; DOT's latest transaction price is 24.10 yuan, with an intraday increase and decrease of +4.73%. Policy ▌Nebraska "Allowing local banks to provide encryption services" bill passed the state legislature to approve the official news, Nebraska Senator Julie Slama tweeted that Nebraska No. The legislative bill for providing services to customers of bitcoin and other digital assets has passed the state legislature and is currently awaiting the governor's signature, which will formally become law after the governor's signature. Previously, Nebraska senators had voted to pass the first bill to allow banks to provide services to customers who own Bitcoin and other digital assets. , Nebraska will become the second state in the United States that can issue licenses for encrypted banks, the first state being Wyoming. Analysis | Golden Disk: The top 20 digital cryptocurrencies by market capitalization are mixed: Golden disk comprehensive analysis: In the past 1 hour, among the top 20 currencies by market capitalization, 7 rose and 13 fell, but the overall amplitude remained the same Big, the market has entered a stalemate stage, and the short-term direction is unclear, please control risks. [2018/8/27]▌Iran invites intelligence officials to participate in the search-zce for illegal cryptocurrency miners Iran has invited intelligence officials to participate in the search-zce for illegal mining cryptocurrency miners, said Gholamali Rakhshani Mehr, power distribution coordinator of state-run power grid operator Tavanir, Intelligence officials will assist in finding and confiscating unlicensed mining sites. ▌The Central Bank of Argentina: There are risks in investing in cryptocurrencies As a representative country with a high incidence of currency turmoil and sovereign debt defaults, Argentina has also joined the ranks of other countries in warning citizens of the risks of investing in cryptocurrencies. Argentina's central bank and securities regulator issued a joint statement on Thursday warning people to be cautious about investing in cryptocurrencies. Investing in cryptocurrencies "could result in significant financial loss to the holder, including the possibility of losing the entire principal amount invested," the statement said. The statement also noted that, despite the risks, cryptocurrency trading has not yet reached a level of widespread use and acceptance in Argentina. Blockchain Application▌Nebraska Congressman Proposes Research on Blockchain Agriculture Application According to Jinse Finance, Congressman Carol Blood of Nebraska has submitted a proposal titled "Research on the Potential of Blockchain Technology in Agricultural Operations". application” legislative proposals. If approved, it would clear the way for state officials to investigate the potential use of blockchain technology in agriculture. Specifically, the bill calls for specific areas of research, including "how blockchain technology can be used to trace the origin of produce from farm to shelf," "potential use cases for using blockchain to monitor farm conditions, including but not limited to weather, Soil Quality and Functionality of Irrigation Equipment" and "Using Blockchain for Data Verification and Certification of Organic Products". It will also examine "the potential use of blockchain as a tool for asset exchange, including payment for sales and storage of products and equipment." Golden Exclusive Knows Chuangyu: Responding to Two Types of Security Threats in Exchanges and Implementing Strategies: An Exclusive Interview with Golden Finance. At present, there are many security risks faced by exchanges. Knowing Chuangyu, as a security company, analyzes from a technical point of view that the main security threats are: The first is the threat to the usability of the exchange platform, such as: DDoS attack, CC attack, Web application security attack, etc.; the second is the threat to the privacy information of the exchange user, such as: using security holes to intrude to obtain management authority, steal data or Taking advantage of the weak security awareness of platform users, phishing websites are used to defraud users' private information, and hackers implant viruses, Trojan horses, and backdoor programs on the operation and maintenance of exchange platforms or developers' machines to obtain user privacy information, and even exchange platforms private key, etc. As for how to identify self-stealing and hacking behaviors, it believes that: when hacking, it is necessary to leave operation traces or files on the server or host, such as viruses, Trojan horses, malicious programs, etc. Hacker attacks are suppressed, blocked, recovered, and source traced; the situation of internal personnel guarding and stealing is often related to the situation that internal personnel have too much management authority and lack of supervision, so the occurrence of security incidents will be very obvious abnormal time The normal operation of the system can be checked by auditing access log records and operation records. [2018/6/16] Negative premium of cryptocurrency ▌GBTC shrinks to 10% Jinse Finance reports, Skew data shows that in the case of bitcoin price fluctuations this week, Grayscale Bitcoin Trust (GBTC) negative premium is a key indicator it has been improved. The GBTC negative premium is currently around 10%, compared to nearly 20% a week ago. Some analysts expect the discount to eventually converge to NAV as GBTC plans to convert to an ETF. In addition, as the GBTC lock expires, it may also help to narrow the discount further. ▌Two Canadian Bitcoin ETFs issued "market interruption" alerts this week Exclusive analysis by Jinse Finance Government financial support guides the development of the blockchain: At present, the blockchain is developing steadily with the support of multiple parties from local governments. Yesterday, Nanhai District of Foshan City invested another 400 million guidance funds, focusing on supporting the blockchain industry; recently, Bairong Financial Services announced that it has completed the C round of financing of 1 billion yuan. The new fund leads the investment; the Shenzhen blockchain venture capital fund, which accounts for 40% of the Shenzhen government, has also been established. The government's financial support has brought a leading effect, attracting more investors and more high-quality projects. [2018/5/15] During this week's crypto market turmoil, two Canadian Bitcoin ETFs operated by Horizon Fund issued a "market disruption" alert. Horizon issued an alert to its market makers in early Toronto trading that they would not be able to honor buy and sell orders for the day if futures prices remained below their lower bounds by the end of trading. Steve Hawkins, CEO of Horizons ETF Canada, said: "At 9:00 am, we are on high alert, and we have to develop all business continuity plans for these ETFs." ▌SEC Commissioner: SEC has no reason not to approve Bitcoin ETF US Securities Hester Peirce, a member of the Trading Commission and an encryption mother, said that the SEC has no reason not to approve a Bitcoin ETF. Peirce said: "We are long overdue to approve a bitcoin ETF product, and we now have a lot more information than before. I am hopeful because we have a new chairman, and the new chairman is interested in this area, we There will be an opportunity to re-examine this field.” ▌DBS Bank and others jointly launched the blockchain carbon neutral trading market Climate Impact X On May 21, DBS Bank, Singapore Exchange, Standard Chartered Bank and Temasek will jointly develop a carbon trading market. The marketplace Climate Impact X allows companies to obtain high-quality carbon credits to address hard-to-reduce emissions. Climate Impact X will use satellite monitoring, machine learning and blockchain technology to improve the transparency, integrity and quality of carbon credits. Mikkel Larsen, Interim CEO of Climate Impact X and Chief Sustainability Officer of DBS Bank, said that Climate Impact X will provide companies with a short-term solution to the inevitable carbon emission problem and promote the development of new carbon credit projects around the world . Initially focused on natural climate solutions, carbon credits will also contribute to addressing another serious risk, biodiversity loss, and serve local communities. CIX will be based on the collective actions of governments, businesses and individuals around the world to achieve a net-zero energy economy. ▌Musk: The lightning network is currently needed to process transactions Tesla CEO Elon Musk said on Twitter that achieving truly decentralized finance - the power of the people - is a noble and important goal. The number of layers depends on the expected bandwidth and computation, both of which are growing rapidly, which means that a single layer network can carry all human transactions in the future. But currently, Lightning (the web) is required. ▌Ripple CTO JedMcCaleb has sold 265 million XRP since May According to XRPscan data, Ripple CTO JedMcCaleb has sold 265 million XRP in his personal encrypted wallet since May. At the same time, there are nearly 400 million XRP left in his "tacostand" wallet, which is currently about 450 million US dollars. ▌Data: BTC trading volume increased by an order of magnitude compared to 2020 According to Skew data, financing rates, order book depth and implied volatility show that the Bitcoin market can absorb this week's sell-off much better than during the panic of the epidemic. Transaction volumes are also an order of magnitude higher than last year. ▌DeFi benchmark interest rate fell to 4.73% Jinse Finance reported that according to peer customer data, the benchmark interest rate of DeFi decentralized finance was 4.73% on May 21, a decrease of 2.17% from the previous day. During the same period, the US treasury bond mortgage repurchase rate (Repo Rate) was 0.01%, and the interest rate difference between the two was 4.72%. The DeFi benchmark interest rate represents the difficulty of DeFi financing. The higher the interest rate, the higher the financing cost, and the lower the interest rate, the lower the financing cost.


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