Blockchain Weekly | Ministry of Industry and Information Technology, Hong Kong Securities Regulatory Commission regulates supervision, paving the way for industry development

Summary

event:

The "Reply to the No. 1394 Recommendation of the Second Session of the 13th National People's Congress" issued by the Ministry of Industry and Information Technology on November 4 disclosed that the Ministry of Industry and Information Technology has responded to the National People's Congress representative Zhu Lifeng's "on the new retail, blockchain and industry. The specific content of the combination of the Internet and the proposal to help the high-quality development of small and medium-sized enterprises. It is proposed that the three major measures will promote the healthy development of the blockchain industry. The Hong Kong Securities Regulatory Commission issued the "Standard Book Supervision Virtual Assets Trading Platform" to clarify the licensing conditions for regulatory standards and regulate the development of the industry.

The three major measures of the Ministry of Industry and Information Technology promote the development of the blockchain industry, with equal emphasis on planning, standard designation and application. The "Reply to the Recommendation No. 1394 of the Second Session of the 13th National People's Congress" issued by the Ministry of Industry and Information Technology on November 4 disclosed the relevant suggestions put forward by the Ministry of Industry and Information Technology. The Ministry of Industry and Information Technology pointed out in the "Reply" that "our Ministry attaches great importance to the development of next-generation information technology such as blockchain and industrial Internet, and the relevant departments such as the Union Banking Supervision and Supervision Commission actively take measures to promote research, technology research and development and application promotion of related industries." It will actively promote the healthy and orderly development of blockchain, including:

First, strengthen the blockchain planning and guidance; second, establish and improve the blockchain standard system; third, accelerate the promotion of industry application.

The Hong Kong Securities Regulatory Commission issued the "Standard Book Supervision Virtual Assets Trading Platform" to clarify the licensing conditions for regulatory standards and regulate the development of the industry. The Hong Kong Securities Regulatory Commission of the Hong Kong Securities Regulatory Commission issued the "Standard Book Supervision Virtual Assets Trading Platform". The third part is the regulatory framework for the virtual asset trading platform, which mentions the licensing conditions for regulatory standards.

Xinhua Daily published today's article "Bitcoin: The First Successful Application of Blockchain Technology", affirming the industry's development results. Bitcoin is mentioned as the first successful application of blockchain technology. Traditional financial system transaction records are kept in the bank's database, while blockchains are bitcoin books. Bitcoin ownership and transaction records generated at any time are recorded in the blockchain ledger. Anyone who downloads the client can receive the relevant information.

We reiterate our view that the blockchain currently has too many weak links in the underlying technology, social acceptance and economic business logic exploration. This is also the development space of the blockchain. Only when it is closely integrated with the real economy, the blockchain has future.

1. Hotspot tracking: Ministry of Industry and Information Technology, Hong Kong Securities Regulatory Commission regulate and regulate, paving the way for industry development

 

Event: The reply of the Ministry of Industry and Information Technology website on November 4th, "Reply to the No. 1394 Proposal of the Second Session of the 13th National People's Congress", disclosed that the Ministry of Industry and Information Technology has responded to the National People's Congress representative Zhu Lifeng's "about the new retail, blockchain The specific content of the proposal to combine the high-quality development of small and medium-sized enterprises with the industrial Internet. It is proposed that the three major measures will promote the healthy development of the blockchain industry. The Hong Kong Securities Regulatory Commission issued the "Standard Book Supervision Virtual Assets Trading Platform" to clarify the licensing conditions for regulatory standards and regulate the development of the industry.

The three major measures of the Ministry of Industry and Information Technology promote the development of the blockchain industry, with equal emphasis on planning, standard designation and application. The "Reply to the Recommendation No. 1394 of the Second Session of the 13th National People's Congress" issued by the Ministry of Industry and Information Technology on November 4 disclosed the relevant suggestions put forward by the Ministry of Industry and Information Technology. The Ministry of Industry and Information Technology pointed out in the "Reply" that "our Ministry attaches great importance to the development of next-generation information technology such as blockchain and industrial Internet, and the relevant departments such as the Union Banking Supervision and Supervision Commission actively take measures to promote research, technology research and development and application promotion of related industries." It will actively promote the healthy and orderly development of blockchain, including:

First, strengthen the blockchain planning and guidance; second, establish and improve the blockchain standard system; third, accelerate the promotion of industry application. Actively pay attention to the three major scenarios of finance, people's livelihood and government affairs. In the financial scenario, it is difficult to solve the problem of financing loans for SMEs, difficult to control the bank, and difficult to supervise the departments; in the livelihood scene, provide more intelligent, more convenient and better public services for the people; improve the intelligence and precision of urban management. The level of protection; ensuring the orderly and efficient flow of production factors within the blockchain; in the government affairs scene, the government data is maintained and utilized across departments and regions to bring better government service experience to the people. With the rapid spread of the alliance chain, the blockchain will play an important role in the three major scenarios, serving the real economy while promoting the progress of blockchain technology research and development.

The Hong Kong Securities Regulatory Commission issued the "Standard Book Supervision Virtual Assets Trading Platform" to clarify the licensing conditions for regulatory standards and regulate the development of the industry. The Hong Kong Securities Regulatory Commission of the Hong Kong Securities Regulatory Commission issued the "Standard Book Supervision Virtual Assets Trading Platform". The third part is the regulatory framework for the virtual asset trading platform, which mentions the licensing conditions for regulatory standards. For virtual asset trading platforms, licensing conditions may be imposed under section 116(6) of the Securities and Futures Ordinance: (a) Licensees may only provide services to professional investors. (b) The licensee must comply with the accompanying “Terms and Conditions Applicable to the Virtual Asset Trading Platform Operator” (as amended from time to time). (c) The licensee must obtain prior written approval from the SFC for any plans or recommendations that introduce or provide new or accompanying services or activities or make significant changes to existing services or activities. (d) The licensee must obtain prior written approval from the SFC for any plans or recommendations to add any product to its trading platform. (e) The licensee must provide monthly reports to the SFC on the business activities in the form prescribed by the SFC. (f) The licensee must appoint an independent professional company acceptable to the SFC to conduct an annual review of the licensee's activities and operations and to prepare a confirmation that it has complied with the licensing conditions and all relevant legal and regulatory requirements. Reports and other six conditions. This time, the conceptual regulatory framework of the virtual asset trading platform was clarified, and an important step in the supervision of virtual asset trading was taken to further standardize virtual asset transactions and promote the development of blockchain and virtual asset trading markets.

Xinhua Daily published today's article "Bitcoin: The First Successful Application of Blockchain Technology", affirming the industry's development results. Bitcoin is mentioned as the first successful application of blockchain technology. Traditional financial system transaction records are kept in the bank's database, while blockchains are bitcoin books. Bitcoin ownership and transaction records generated at any time are recorded in the blockchain ledger. Anyone who downloads the client can receive the relevant information.

We reiterate our view that the blockchain currently has too many weak links in the underlying technology, social acceptance and economic business logic exploration. This is also the development space of the blockchain. Only when it is closely integrated with the real economy, the blockchain has future.

2. Related news: The Hong Kong Securities and Futures Commission is empowered to grant licences to "regulated activities" as defined in the Securities and Futures Ordinance.

 

The Hong Kong Securities and Futures Commission: is empowered to grant licences to "regulated activities" as defined in the Securities and Futures Ordinance. The Hong Kong Securities and Futures Commission issued the "Stance Book: Supervisory Virtual Asset Trading Platform" today. The document stated that the SFC was empowered to grant licences to those who carry out "regulated activities" as defined in the Securities and Futures Ordinance. Under this regulatory framework, if the platform operator operates a central online trading platform in Hong Kong and provides at least one type of securities-based token transaction on its platform, it will be within the jurisdiction of the CSRC and must have the first License for regulated activities of Class (Securities Trading) and Type 7 (providing automated trading services). Where the qualified platform operator complies with other licensing requirements (including appropriate candidate criteria), the SFC may grant a licence to the business of the virtual asset transaction.

The German Federal Financial Supervisory Authority conducts a market survey of cryptographic derivatives. According to Cointelegraph, the German Federal Financial Supervisory Authority (BaFin) conducted a market survey of cryptographic derivatives. BaFin has a total of 19 questions in five subject blocks, requiring all market participants, including investors and consumers to protect. Associations, suppliers and distributors, as well as interest groups, must “detail describe the derivatives market based on crypto assets and their potential risks.”

3. Industry chain related dynamics: BTC miners' revenue increased by 3.2% from the previous month

(The following source website data is updated to November 9)

Last week, BTC added 2.19 million new transactions, an increase of 5.4% from the previous month; ETH added 4.85 million new transactions, an increase of 0.4% from the previous month.

Last week, the average daily income of BTC miners was US$15.96 million, an increase of 3.2% from the previous month. The average daily income of ETH miners was US$2.52 million, an increase of 0.6% from the previous month.

Last week, BTC's average daily computing power reached 89.9EH/s, an increase of 1.3% from the previous month; ETH's daily average computing power reached 186.1TH/s, a decrease of 0.4% from the previous month.

Last week, the difficulty of mining the whole network of BTC was 13.69T, an increase of 1.4% from the previous month; the next difficulty adjustment date was on November 22, the expected difficulty value was 12.08T, and the difficulty decreased by 5.04%; the average mining difficulty of ETH whole network last week was 2.44T, the ratio is flat.

4. Last week's market review: Chainext CSI 100 decreased by 0.3%, and the Internet of Things & Traceability was the best in the subdivision sector.

We introduce the professional index product of the token market, the Chainext CSI series index, in which the CSI 100 index [1] represents the overall trend of the market; the CSI 5 index [2] represents the trend of the market oversized currencies; the CSI 21-100 index [3] Represents the trend of small caps in the market. The market continued to pull back this week. As of last Sunday (November 10), the Chainext CSI 100 index was 816.8, down 0.3% from the previous week, and the total volume of 24 hours on Sunday was 41.78 billion US dollars; among them, the global average price of BTC was $9055.53, a decrease from the previous month. 1.7%; ETH's global average price is 189.487 US dollars, a decrease of 4%.

From the perspective of subdivision, IoT & Traceability, Entertainment Social, Business Finance, Foundation Enhancement, Base Chain, and AI performed better than Chainext CSI 100 average, +31.41%, +0.03%, +17.42%, +1.2%, respectively. , +5.79%, +14.98, payment transactions, storage & calculations, the pure currency sector performance was inferior to the Chainext CSI 100 average, divided by -2.75%, -0.38%, -1.18%.