PANews Weekly 7.8-7.14
Chinese central bank officials, Fed chairman and other officials continue to express Libra; US President Trump issued a question on the value of cryptocurrency; Iranian central bank deputy governor said that trading Bitcoin illegal; coin security destruction team BNB caused controversy; Matrixport officially launched Beta version, cooperation The partners are all Bitcoin Continental; SEC has successively approved Blockstack and Props for compliance tokens; Tether has issued additional USDTs and Metropolitan Commercial Bank has closed Tether Bank accounts.
- Hardcore interpretation: The first cryptocurrency that meets the SEC compliance framework is about to come out, is it good or bad?
- What is the SEC thinking about Crypto compliance?
- Block.one was fined $24 million, and the SEC opened the "toll booth" model?
- $8.5 million! US Securities and Exchange Commission fines fraud
- US SEC Announces Annual Report for FY 2019: A total of 271 securities transactions including digital assets were suspended this year
Last week, the blockchain sector announced a total of 6 financing, totaling more than 60 million US dollars (excluding projects that have not disclosed the specific investment and financing amount), involving trading platforms, public chains, blockchain data storage, cryptocurrency and private Key areas such as key management.
Chinese central bank officials, the Federal Reserve Chairman, etc. continue to express Libra
Libra has become the focus of national regulators. Last week, Zhou Xiaochuan, the former head of the central bank, the spokesperson of the central bank, the chairman of the Federal Reserve, and the governor of the Bank of England all expressed their views on Libra.
On July 9, Zhou Xiaochuan, former president of the central bank and president of the China Finance Association, confirmed Libra's improvement in “avoiding currency fluctuations and speculation” and “cross-border payment” and said that there will be many institutions and personnel in the future. Trying to build a stronger, more international, global currency, leading to a major currency and its exchange relationship, but not necessarily Libra.
On July 12, Zhou Xuedong, director of the General Office of the People's Bank of China and spokesperson of the People's Bank of China, told reporters in the press conference of the financial statistics in the first half of 2019 that the Central Bank of China was very concerned about Libra and would study financial after the release of Libra by Facebook. The impact of the system; but whether it is a legal currency or a virtual currency, it must be regulated in anti-money laundering, anti-terrorism financing, information protection, etc. In China, only the renminbi is legal.
On July 8, Wang Xin, director of the Research Bureau of the People's Bank of China, said that Libra may be widely used by means of the participating institutions and the large number of usage scenarios.
Mu Changchun, deputy director of the Payment and Settlement Department of the People's Bank of China, said in a comment to Bloomberg on July 9 that "Libra creates a cross-border freely convertible convertible digital currency that must be regulated by the monetary authorities, if there is no central bank. Support and supervision, it 'will not last'".
According to the Wall Street Journal reported on July 12, Federal Reserve Chairman Jerome Powell said in a speech to the US Senate Banking Committee that he suspected the feasibility of launching Libra on Facebook's timetable and expressed his concern for Libra. Serious concern about the need for a thorough public assessment of issues such as privacy, money laundering, and financial stability. It said that one of Libra's key issues is that no single regulator has the right to oversee it.
According to Bloomberg News, Bank of England Governor Mark Carney said, "Facebook's cryptocurrency Libra must be absolutely reliable from the first day, otherwise it should not start." If it succeeds, it will become a system. Because it involves a large number of users. According to Carney, Libra has raised a "very broad question," and the G7's central bank is seeking to understand Facebook's proposal and consider its risks and opportunities.
US President Trump sends a question to question the value of cryptocurrency
On July 12th, US President Trump tweeted the value of cryptocurrency, saying that "they are not money, their value fluctuates greatly, and they come out of thin air; unregulated crypto assets promote illegal behavior, including Drug trafficking and other illegal activities." He declared that "the United States has only one real currency, and it is stronger than ever. It is by far the most important currency in the world, and it will always maintain this status. It is called the US dollar." He also said Facebook's Libra is “not very reliable,” and said that if Facebook or other companies want to become a “bank,” they must obtain banking licenses in accordance with all banking regulations and accept domestic and international regulations.
Iranian central bank deputy governor said trading bitcoin illegal
According to a report by the Tasneim News Agency on July 8, Nasser Hakimi, deputy governor of the new technology at the Iranian Central Bank, said that trading bitcoin in Iran is illegal; the Supreme Council Against Money Laundering has banned in Iran. Sell and buy bitcoin. He reminded people to be wary of promoting Bitcoin's MLM ads and marketers.
Canadian Cocktail Exchange must register with FINTRAC as of June 1, 2020
According to the official announcement of the Canadian government website on July 10, from June 1, 2020, Canadian cryptocurrency exchanges must be registered with the Financial Transaction and Reporting Analysis Center (FinTRAC) in accordance with the law. Moreover, the request will come into force with other amendments to Canada’s new Anti-Money Laundering and Terrorist Financing Act next year.
Coin destruction team BNB caused controversy
On July 12, the exchange currency announced that the coin security team would abandon the team BNB share and add it to the BNB quarterly destruction plan until 100 million BNBs were destroyed. This decision was implemented since this quarterly destruction, and a total of 808,888 BNBs ($23,838,000 at the time) were destroyed during the quarterly destruction of the day. Within a few hours after the announcement, the BNB price staged a “roll-up-down-and-up” roller coaster market, indicating a huge disagreement on the decision.
According to the currency security white paper, 40% of the total BNB supply (80 million BNBs) is allocated to the coin security team. The coin security team said that it would “destroy the 80 million BNBs of the team first”, which means that “the currency will not be repurchased from the secondary market for BNB for destruction in the short term”. Li Lin, the founder of the fire coin, said in the WeChat group, "The meaning is that regardless of the circulation, directly destroy the team's hands, that is to say, there is no need to buy back, according to the data directly from the reserved deduction, if this program everyone If you think it's good, it's great. Every quarter has reduced hundreds of millions of repo costs."
The Block analyst Larry Cermak sent 10 consecutive "Twitter Storm" analyses on the matter, saying that he believes that the currency is doing this because of regulatory compliance considerations, making BNB "looks more like an application/ecological token." Not a securities."
For Larry Cermak's tweet, Zhao Changpeng responded: "The ideas and data of the first to sixth tweets are great, but from the seventh article is the FUD (fear, uncertainty, doubt) The mentality is that the assumption that 'this is related to regulation' is completely wrong. The main reason for (adjusting the plan) is that there is no need to worry about team unlocking and selling."
Matrixport officially launched Beta version of the partner is the Bit Continental Department
Bloomberg reported on July 8 that the cryptocurrency trading platform Matrixport was launched on the Beta, behind which was a team composed of Bit Continent co-founder Wu Jihan and dozens of former employees of Bitland. Headquartered in Singapore, Matrixport is a one-stop platform for trading, lending, digital asset custody and digital payment services. Wu Jihan is one of the major shareholders.
Matrixport CEO Ge Yuejun said that Matrixport will use its company's relationship and expertise in Bitcoin to meet the needs of China's encryption miners. Bitcoin still holds the first place as a strategic partner on the Matrixport webpage. Other strategic partners such as BTC.com, ANTPOOL and BITDEER are also companies in the Bittland ecosystem.
Matrixport lending allows customers to pledge BTC and obtain corresponding liquidity such as stable currency and legal currency for the purchase of mining machines and other activities. Its hosting business, Cactus Custody, is equipped with an HSM encryption machine and a bank-level cold storage data center to secure the cold and hot storage of customer assets.
Related reading: Matrixport is online, who is fighting? Bit Continental has woven a giant network
SEC approves Blockstack and Props for compliance tokens
According to the Wall Street Journal on July 10 and CoinDesk on July 11, respectively, the distributed computing network Blockstack and Ethereum-based blockchain tokens have been approved by the US Securities and Exchange Commission (SEC) and can be consolidated according to Reg A+ regulations. The code issuance plan. Blockstack made its first token sale, raising $28 million. Props developer YouNow plans to distribute a total of 187 million tokens (about $25.6 million) to users and creators.
Founded in 2013 by Princeton University students Muneeb Ali and Ryan Shea, Blockstack aims to replace the Internet-centric giant with a decentralized identity system. Blockstack currently has more than 160 DApps, all of which use Blockstack Auth for ID authentication and Gaia as decentralized storage. In 2017, Blockstack raised $52 million through CoinList's token sales. In order to get approval from the SEC, Blockstack spent 10 months and spent $2 million.
Props is based on Ethereum's blockchain tokens and is used to integrate streaming media platforms (such as YouNow and Xplit) to motivate users and content producers. For example, Props token holders have the opportunity to have a VIP interest in the platform, to watch exclusive content, and more. Props had to Union before this SEC approval
Investors such as Square Ventures, Comcast, and Venrock made pre-sales worth about $22 million.
Tether issued additional USDT Metropolitan Commercial Bank to close Tether bank account
Data monitoring on the chain chain in Beijing found that Tether issued 100 million USDT at 23:27 on the evening of July 8 and 6:01 on July 10, and the company has issued four additional issuances this month, totaling 400 million USDT. Bitfinex CTO Paolo Ardoino posted a tweet on July 4th that Tether's 100 million USDT was issued in the Ethereum to transfer the USDT of the Omni chain to Ethereum, which will be destroyed.
On July 13, Tether made two additional grants of 5.05 billion USDT on the wave field, but in the next 15 minutes, it destroyed two new 5 billion USDTs. Tether said that the release was an operational error.
The Office of the Attorney General of New York (NYAG) released a report on the illegal issuance of securities by Bitfinex and Tether. Bitfinex, Tether and its affiliates will respond to NYAG's latest motion on July 22, and the hearing will be held on July 29.
In addition, a spokesperson for the Metropolitan Commercial Bank revealed on Wednesday that it had closed the account of Tether and its affiliates, after Tether opened an account in the bank for less than half a year. A bank spokesperson said that Tether Holdings LTD, iFinex Inc and Digfinex Inc have accounts at Metropolitan Commercial Bank, but these three accounts have very little activity. The spokesperson clarified that it was the bank that requested the closure of the account, not Tether, iFinex or Digfinex.
According to PANews statistics, there were 6 blockchain financings announced last week, with a total amount of more than 60 million US dollars (excluding projects that have not disclosed specific investment and financing amounts), involving trading platforms, public chains, blockchain data storage, and encryption. Multiple areas such as currency custody and private key management.
1 Decentralized P2P legal currency trading company Ramp received more than 1 million US dollars investment
TheBlock July 11 news, decentralized P2P legal currency trading startup Ramp announced that it has received more than $1 million in investments from investors including MakerDao, Seedcamp, Fabric Ventures and Firstminute. After the seller locks the cryptocurrency in Ramp's smart contract, the buyer directly transfers the legal currency to the seller's bank account, triggering the smart contract to send the hosted cryptocurrency to the buyer. Ramp plans to work with DApps and wallet providers to enable users to purchase cryptocurrencies using bank accounts.
2 Decentralized data storage application Textile completes $1.5 million seed round financing
The IPFS-based decentralized data storage application, Textile, and its co-founder Andrew Hill announced on its blog on July 11 that Textile has completed a $1.5 million seed round financing, led by BlueYard, a leading European blockchain investor, Collaborative Fund, Multicoin, SystemOne, Coinbase Ventures, Starchain Capital and angel investors Jesse Clayburgh and Henri Stern are involved in the investment.
3 PoS public chain NEAR Protocol completed $12.1 million in financing
According to CoinDesk's July 10 report, the DApp platform NEAR Protocol completed $12.1 million in financing, led by hedge fund Metastable Capital and venture capital firm Accomplice, Pantera, Multicoin Capital, ACapital, Coinbase Ventures, Scalar Capital and Ripple's Xpring In addition, angel investors such as Naval Ravikant, Andrew Keys, Michael Arrington and Balaji Srinivasan also participated in the investment. The NEAR Protocol hopes to develop a PoS consensus public chain through a sharding solution designed to increase throughput by running parallel computing on the fragmented portion of the network.
4 Encrypted money custodian Anchorage receives $40 million in financing from Visa
According to "Fortune" reported on July 10, cryptocurrency custodian Anchorage received a new round of financing of 40 million US dollars, led by Visa and Blockchain Capital. Anchorage uses biometric-based software and multiple approval and manual auditing systems to secure investors' cryptocurrencies. Anchorage is a member of the Libra Association; the company has so far conducted two rounds of financing, raising a total of $57 million.
5 Decentralized private key management platform Torus completed $2 million seed round financing
On July 9, US-based encryption investment fund Multicoin Capital announced that it has led Torus Labs' $2 million seed round financing, and the coin incubator, Coinbase Ventures, Accomplice, Sixth Horizon and Terminal also participated in this round of investment. Torus Labs is a decentralized private key management platform designed to provide users with a trusted, decentralized private key management solution using distributed key generation technology in multi-party computing technology to help users implement Web 2 App and Web 3 The DApp connection, for example, logs into the decentralized ecosystem via Google or Facebook OAuth.
6 Distributed Data Storage Network Sia Network Receives $3.5 Million in Financing
According to CoinDesk, July 10, Nebulous, the manufacturer of the distributed data storage network Sia network, completed a $3.5 million financing led by Bain Capital, and Bessemer Venture and Dragonfly Capital also participated in the investment.
Text | Niu Niu Editor | Tong Source | PANews