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Golden Outpost | The U.S.Department of Justice released a cryptocurrency law enforcement framework and is paying close attention to the DeFi field



The U.S. Department of Justice has released a long-standing "enforcement framework" for cryptocurrencies.

U.S. Attorney General William Barr announced the release of the enforcement framework, stating that the goal is to ensure that cryptocurrencies “do not compromise our public safety or national security,” which is of “critical importance to the United States and its allies.”

Golden Noon News|An overview of important developments at noon on January 10: 7:00-12:00 Keywords: Sun Yuchen, blockchain, Apple, Edison Chen

1. Justin Sun transferred 135 million USDC from Binance Exchange to his personal wallet address;

2. "The 14th Five-Year Plan" Public Service Plan: Explore the application of "Blockchain +" in the field of public services;

3. Well-known whistleblower: Apple VR devices regard the metaverse as a "forbidden zone";

4. Open bidding for digital government blockchain platform and application demonstration projects in Hunan Province;

5. Chen Guanxi: May cooperate with Jay Chou to release a joint NFT project before the end of the year;

6. Offchain Labs: The Arbitrum One network has been restored, and the downtime is due to a hardware failure in the main Sequencer node;

7. The average daily download volume of the digital RMB APP has increased by more than 10 times;

8. ENS launched a new proposal to increase the temporary premium for expired domain names from $2,000 to $100,000. [2022/1/10 8:38:02]

The report, titled "Cryptocurrencies: A Framework for Law Enforcement," details the DOJ's planned strategy related to digital assets and was prepared by the Cyber Digital Task Force. The report will define priorities and strategies for the DOJ's encryption enforcement efforts, Barr said.

Jinse Finance mining data broadcast | BCH network computing power dropped by 7.86% today: Jinse Finance reported, according to the data of Spider Mining Pool:

The computing power of the BTC network is 122.279EH/s, the mining difficulty is 17.56T, the current block height is 645357, and the theoretical income is 0.00000797/T/day.

The computing power of the entire ETH network is 215.211TH/s, the mining difficulty is 2672.63T, the current block height is 10733137, and the theoretical income is 0.00986958/100MH/day.

The BSV network computing power is 1.999EH/s, the mining difficulty is 0.29T, the current block height is 649752, and the theoretical income is 0.00045026/T/day.

The computing power of the BCH network is 2.638EH/s, the mining difficulty is 0.36T, the current block height is 649979, and the theoretical income is 0.00034119/T/day. [2020/8/26]

The report also shows interest in how enforcement should be approached in the decentralized finance (DeFi) space.

Golden Power Group | Duan Jiang, Sichuan Provincial People's Congress Representative: Enterprises should focus more on the innovation of blockchain applications, rather than doing all the underlying technology: Golden Finance reported that in the live broadcast of Golden Power Group held today, it aimed at "China's 99 How can more than 100% of small and medium-sized enterprises participate in the blockchain industry", Duan Jiang, a representative of the Sichuan Provincial People's Congress and director of the China Blockchain Research Center of Southwestern University of Finance and Economics, said that I think we should focus more on the innovation of blockchain applications , instead of doing all the underlying technology. For example, in the past two years, many start-up companies have made a lot of public chains. How many of them have really come out? If there is no user use, it is a veritable "air chain". We should go to the expansion area For the application scenarios of the blockchain, it is the kingly way to allow users to really use the blockchain products. Throughout Sichuan and Chengdu, many companies have participated in the innovation of the blockchain field, including: underlying technology research and development, industry applications, blockchain training, etc. Among them, there is an area in which Chengdu has an exclusive advantage, and that is the digital currency mining industry. Because Sichuan has unique hydropower resources. [2020/5/19]

The report is divided into three parts, the first of which provides an overview of the threat. According to the report, illicit use of cryptocurrencies typically falls into one of three categories: financial transactions for criminal purposes; money laundering and avoiding tax filings or other legal obligations; and hacking or theft of cryptocurrency trading venues. Parts Two and Three explore law enforcement tools and ongoing challenges related to these types of crimes.

The report also mentions the growing DeFi space, linking 2017's ICOs to today's activity. Regulators have previously said that DeFi regulation has been slow, but reports suggest that law enforcement officials are keeping a close eye on the space.

“The ICO boom of a few years ago has been replaced by the exponential growth of the DeFi market in recent months, with law enforcement trying to stay on top and keep investors safe, with all the associated complexities and difficulties,” the report said.

Much of the report focuses on the potential of cryptocurrencies and blockchain technology when these threats are addressed. The report recognizes digital assets as an important opportunity for U.S. development, calling them a "transformative way to store and exchange value," and urges industry members to work with regulators to develop solutions that foster innovation and protection.

"To promote public safety and protect national security, steps are needed to ensure that cryptocurrencies are not used as illegal platforms, from private industry to regulators, serving officials, individual cryptocurrency users, and all stakeholders," the report said. For cryptocurrencies to realize their truly transformative potential, these risks must be addressed."

Part of this article is compiled from The Block


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Golden Outpost | The U.S.Department of Justice released a cryptocurrency law enforcement framework and is paying close attention to the DeFi field

The U.S. Department of Justice has released a long-standing "enforcement framework" for cryptocurrencies.U.S. Attorney General William Barr announced the release of the enforcement framework.

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