Blockchain Weekly | Industry Weekly Financing 9, National Supervision Continues to Voice Libra

PA Weekly 73rd issue 9.9-9.15

Wen | Zhou Wenyi Niu Niu Edit | Tong Source | PANews

Overview:

Libra will be launched as scheduled at the end of 2020, and national regulation continues to sound; Nigeria SEC calls for the establishment of a cryptocurrency and blockchain regulatory framework; the US SEC chairman said the Bitcoin ETF was manipulated by the exchange due to the lack of a suitable custodian; the central bank Mu Changchun called the central bank Digital currency will not affect WeChat and Alipay; Li Lin is the chairman and CEO of the board of directors, Tongcheng Holdings has risen nearly 70%; Tether anchored the new stable currency CNHt for offshore RMB is now available.

• Looking at the blockchain application from the Shanghai Blockchain International Week Demo Day
• France prevents Libra from doing business in Europe; Coinbase is expected to launch the IEO platform
• OTC market research: the “paradise” of money launderers?

According to PANews statistics, a total of 9 blockchain financings were announced last week, with a total value of over US$29 million (excluding projects that have not disclosed specific investment and financing amounts), involving ATM machines, privacy, financial services, blockchain media, Agreements and other areas.

O1

 

Nigerian SEC calls for the establishment of a cryptocurrency and blockchain regulatory framework

On September 9, the Nigerian Securities and Exchange Commission (SEC) announced that it has established a committee to develop a regulatory framework to regulate and innovate blockchains and virtual financial assets in the country's capital markets, thereby effectively protecting investors and maintaining finance. Market integrity and stability. The committee is made up of regulators, technical experts and private sector officials and is expected to complete its mission by the end of November.

O2

US SEC chairman said Bitcoin ETF or being manipulated by the exchange due to lack of suitable custodian

On September 10, according to The Block, US Securities and Exchange Commission (SEC) Chairman Jay Clayton expressed concern about the development of Bitcoin in an interview with CNBC. He pointed out that the current Bitcoin ETF is still facing the lack of a suitable encryption hosting provider. And, bitcoin prices have the problem of being “manipulated in unregulated exchanges”. He said that people need to "answer these questions in order to reassure us that Bitcoin is a suitable product."

And a few weeks later, on October 13 and 18, the SEC will decide whether to approve the two ETF proposals, Bitwise and VanEck.

O3

Central Bank Mu Changchun said the central bank's digital currency will not affect WeChat and Alipay

On September 9, Mu Changchun, deputy director of the Payment and Settlement Department of the People's Bank of China, said in the App course that the central bank's digital currency will not affect WeChat and Alipay.

The reasons are as follows: 1. First of all, from the legal power, the effectiveness and security of the central bank's digital currency is the best. WeChat and Alipay did not reach the same level as the central bank's digital currency in terms of legal status and security. 2. The central bank is more able to cope with extreme situations than WeChat and Alipay. As long as the mobile phone has electricity, it can be used offline without the network, thus realizing payment. 3. The central bank's digital currency will not affect the position of WeChat and Alipay. Because Alipay and WeChat are currently paid in commercial bank deposit currency. After the introduction of the central bank's digital currency, it used the central bank's deposit currency, but the channels and scenarios did not change.

O1

Libra's recent hotspots: will be launched as scheduled at the end of 2020, and national supervision continues to sound

On September 13, Bertrand Perez, managing director and chief operating officer of the Libra Association, said in an interview, "We will stick to the release schedule of Libra and will launch as scheduled by the end of 2020." On September 10, Facebook told US Senators, Libra's basket of currencies that support cryptocurrencies may initially include US Dollars, Euros, Japanese Yen, British Pounds, and Singapore Dollars; and Libra Alliance will not provide in any jurisdiction until the regulatory concerns are fully resolved and properly approved. The digital currency.

On September 13, French Finance Minister Lemaire said that "digital currency needs a common framework, Europe should consider creating a public digital currency"; and should refuse Facebook to develop its cryptocurrency Libra in the EU.

On September 13, Lithuanian Finance Minister Vilius Sapoka said that Facebook's plan to issue cryptocurrency Libra is currently causing major discussions and questions. Libra is still in its early stages, and it is difficult to say what attitude and measures it will ultimately take; Concerns about Libra, and said: "Considering the potential impact of the stable currency, it will find a global solution on its regulatory issues."

On September 13, the German ruling coalition of the German ruling coalition tried to veto the launch of a project like Libra. Thomas Heilmann, a member of the German Christian Democratic Union (CDU), said that market-related private stable coins would not be allowed to exist in the country.

On September 12th, US Treasury Secretary Steven Mnuchin said: "They (Libra) have not met these conditions, so I think there is still a long way to go."

On September 11th, the Swiss Financial Market Regulatory Authority (FINMA) confirmed that it received a request from the Libra Association for “issuing stable currency under Swiss regulatory law”. FINMA made formal feedback based on Libra's current status: 1. Libra needs to obtain FINMA's payment system license; 2. Payment system needs to comply with the highest standards of anti-money laundering (AML) regulations in the world; 3. Need to meet some other additional requirements, Such as capital allocation, operational risk, risk concentration, liquidity and management related requirements of Libra reserve; 4. It also needs to comply with bank-like compliance regulations. And FINMA said that as the project evolves, these requirements may change. At the same time, FINMA also issued guidance requirements for stable coins as a supplement to the ICO guidelines previously published by FINMA.

On September 11, a number of senior US officials responsible for combating terrorism said that regardless of where Libra chooses to register, they must comply with US anti-money laundering and anti-terrorist financing standards.

O2

US SEC will reach settlement with BitFunder operator in October

On September 13, according to financemagnates, the US SEC and the closed Bitcoin stock exchange operator BitFunder submitted a joint application to support the settlement, saying that these terms will be announced next month. The owner of the exchange, Jon Montroll, has been detained for 14 months for securities fraud and obstruction of justice; and he was fined nearly $170,000 after acknowledging the allegations in July 2019.

O3

Russia's largest bank uses the Hyperledger blockchain to buy $15 million in accounts receivable

On September 12, according to CoinDesk, the Federal Reserve Bank of Russia (Sberbank) used the Hyperledger Fabric blockchain platform to purchase $15 million in accounts receivable from Singapore's commodity trading giant Trafigura. The Sberbank pilot system leverages the Aurelia framework and Sberbank's own cloud solution, SberCloud, and leverages smart contracts written in the Scala language. Alexander Vedyakhin, vice chairman of Sberbank, disclosed the deal during the Eastern Economic Forum in Vladivostok, Russia, but did not announce the size and technical details of the deal.

O4

Gong Xinbao Huang Minqiang is still cooperating with the investigation, and the Brock City currency fixed product is refunded or affected.

On September 13, after Gongxinbao was seized this week and the company "dissolved" the storm, its operating director Xu Xiaopeng confirmed the seizure in the GXChain community, and said that the company's CEO Huang Minqiang is still cooperating with the investigation, Brock City The payment of the surplus product may be affected. Xu Xiaopeng said that this time (blocked) is mainly due to the reptile business, the blockchain business has little impact; the wallet of the Brock City is normal; the quantitative product of the currency-based profit will be affected.

Extended reading:

On the evening of September 11, according to the media “Open Finance” report, the public trust company Hangzhou Custard Data Technology Co., Ltd. was seized by the Hangzhou Public Security Bureau West Lake Branch, and the PANews called the Gudang police station overnight and responded that it could not be informed. Please pay attention to "Ping An West Lake". However, PANews was informed by many people familiar with the matter that Gongxinbao was investigated by the police for involving big data reptiles. Prior to this, many similar enterprises such as Konjac Technology and New Yan Technology were also investigated by the police.

After that, the former staff of Gongxinbao said that the company has been dissolved. Another public letter partner said that their project docking group has been unilaterally disbanded by the public letter.

PANews was informed by the official head of the official overseas team of Gongxinbao that the public letter of the project was disbanded as false news, the company's blockchain business was operating normally, and the internationalization of the project was progressing in an orderly manner.

O5

CME encryption index provider CF Benchmarks receives EU benchmark license

On September 13, according to CoinDesk, the Financial Market Conduct Authority (FCA) authorized the CME encryption index provider CF Benchmarks as the manager to confirm that financial institutions can be in the European Benchmark Regulations (EU BMR) on January 1, 2020. After the full effect of the day, the company's index is used in any European financial product. At this point, CF Benchmarks has become the first cryptocurrency index provider to be recognized as a benchmark authority under the European Benchmark Regulations (EU BMR).

O6

The coin double contract is officially launched, and Binance.US will accept user registration on September 18.

On September 11, according to the official announcement of the currency security, the coin double contract was officially launched. Contract A Binance Futures enjoys a 50% discount on the transaction fee for the first 3 months of the launch. The contract is built into the Coin Station. This week, the user is invited to conduct the beta test; the contract B Binance JEX will operate as an independent brand.

On the same day, Binance US announced in its blog that Binance US will open an account registration on September 18, 2019 at 8:00 am ET (20:00 pm Beijing time) and begin accepting the "first phase", including BTC, ETH, 6 deposits including XRP, BCH, LTC and USDT.

O7

BitMEX hires former BNP Paribas legal counsel as general counsel

On September 12, according to The Block, BitMEX has hired Derek Gobel, who has served as General Counsel of BNP Paribas Asia Pacific, as its General Counsel.

Extended reading:

According to PANews on September 10th, a BitMEX spokesperson confirmed to PANews that its chief operating officer, Angelina Kwan, has resigned and is taking paid leave before leaving. At present, it is not clear who will replace Angelina Kwan as the chief operating officer of BitMEX.

According to public information, Guan Wei, who was previously the managing director and supervisory compliance officer of the Hong Kong Stock Exchange, joined BitMEX last October. In an interview, she said that she will “supervise and promote the growth of the company” and will guide BitMEX to fulfill its mission to provide advanced and innovative financial products to the global cryptocurrency industry.

It is worth mentioning that the current regulatory environment for BitMEX is not optimistic. In July this year, the US Commodity Futures Trading Commission (CFTC) is investigating BitMEX. In August, BitMEX issued a notice saying that Hong Kong will not be allowed for regulatory reasons. Used by users in Bermuda and Seychelles.

O8

Mastercard will work with R3 to develop a blockchain-based cross-border payment solution

On September 12, according to The Block, the payment giant Mastercard has announced with the alliance chain organization R3 that the two companies will cooperate to develop a blockchain-based cross-border payment solution that will focus on A bank that connects the global payment infrastructure and supports the MasterCard clearing and settlement network. R3 connects its blockchain open source platform, Corda, to the ecosystem of Mastercard. The Corda platform includes more than 300 global financial services companies, technology companies, central banks, regulators and trade associations.

Last week, Mastercard also joined R3 and TradeIX to create a blockchain trade financing platform, Marco Polo. The platform was built on the R3 Corda platform to reduce financing costs. Currently, members include 25 financial institutions such as BNP Paribas and Commerzbank. .

O9

Li Lin became the chairman and CEO of the board of directors, Tongcheng Holdings rose nearly 70%

On September 11, Hong Kong stocks Tongcheng Holdings opened sharply, with the highest increase of 69.35% in half an hour. On the evening of September 10, Tongcheng Holdings announced that it had appointed Li Lin as the executive director, chairman of the board and chief executive officer. Moreover, the Board of Directors proposed to change the company's English name “Pantronics Holdings Limited” to “Huobi Technology Holdings Limited” and change the Chinese name “Tongcheng Holdings Limited” to “Firecoin Technology Holdings Limited”.

10

Tether anchors offshore RMB new stable currency CNHt is now available

On the evening of September 9, Tether official Twitter said that the new stable currency CNHt anchored by the offshore renminbi (CNH) is now available; CNHt is linked to CNH and is based on the Taifang blockchain as ERC-20 token.

According to PANews statistics, a total of 9 blockchain financings were announced last week, with a total value of over US$29 million (excluding projects that have not disclosed specific investment and financing amounts), involving ATM machines, privacy, financial services, blockchain media, Agreements and other areas.

O1

Ripple invests $1.5 million in Bitcoin ATM machine company Coinme

On September 13, according to The Daily Hodl, Ripple's financing and development department Xpring invested $1.5 million in Seattle-based encryption company Coinme. It is reported that this is the first investment of Xpring Fund in the cryptocurrency ATM industry. As the first Bitcoin ATM company in the United States to receive national licenses, Coinme operates 2,583 password ATMs worldwide.

O2

Ethereum privacy startup Aztec completes a new round of financing, Coinbase and other participants

On September 15, according to Cointelegraph, Aztec, a privacy-focused startup that focused on zero-knowledge SNARKs, announced that it had concluded its latest round of investment, with A.Capital, Coinbase, and Libertus Capital participating in the report. The report did not disclose the specific amount.

O3

CryptoKitties development team Dapper Labs completes $11.2 million in new financing

On September 13, Dapper Labs, the development team of blockchain game CryptoKitties, announced that it has completed a new round of financing of $11.2 million, led by Andreessen Horowitz, entertainment giants Warner Music Group, Union Square Ventures, DCG, Venrock, Accomplice, AppWorks, Autonomous Partners, Fenbushi Digital, Animoca Brands, SV Angel, Version One, CMT and CoinFund participated. Dapper Labs will work with the blockchain team of Warner Music Group to develop a new blockchain called Flow and create digital assets on it.

O4

Blockchain financial services company Tepleton wins early strategic investment from the Lopez fund

On September 12th, Tepleton officially announced the early strategic investment of the Lopes Foundation under the Ropos (HK) LTD. This investment will support Tepleton to accelerate project progress and global ecological layout. Roprice (HK) LTD specializes in a fully licensed large-scale integrated services organization for global trade and financial services. Tepleton is a new blockchain technology based on underlying cross-chain technology for trust, banking, insurance, securities, Leasing and other financial sectors.

O5

Blockchain media Mars Finance won a joint investment in the currency, valued at 200 million US dollars

On September 12th, blockchain media Mars Finance announced that it has completed a new round of financing, jointly invested by Qian'an, Zeyuan Capital and Matrixport, founded by Wu Jihan, with a post-investment valuation of US$200 million. It is reported that Mars Finance currently provides blockchain information, market and encrypted digital currency asset management services, and it also has a consensus laboratory for encrypted digital asset investment and research institutions.

O6

Blockchain clearing startup Fnality wins investment from Mizuho Bank of Japan

On September 12, according to Ledger Insights, the blockchain clearing startup Fnality announced that it had received investment from Mizuho Bank of Japan, and the specific investment amount was not announced. Fnality is the operating entity of the Utilities Billing Token (USC) project, which was included in May by Barclays, Credit Suisse, UBS and Nasdaq. The founding shareholders of the company were established after a round of financing of 50 million pounds.

O7

Vietnam's legal currency trading platform Bvnex won the strategic investment of MXC Matcha Fund

On September 10th, MXC Matcha Fund officially announced the strategic investment in Vietnam's legal currency trading platform Bvnex. It is reported that Bvnex is an emerging Vietnamese legal currency trading platform, with traffic covering 80% of the Vietnamese market.

O8

Coinbase plans to invest $1 million in DeFi protocol Compound and dYdX respectively

On September 10, Coinbase announced that it will invest $1 million in the DeFi protocol Compound and dYdX respectively. Coinbase said the new fund is called “USDC Bootstrap Fund” and will “invest in USDC directly in the agreement”.

The USDC is a dollar-linked stable coin that Coinbase partnered with Circle last year. The USDC token that Coinbase deposits into the DeFi agreement cannot be used to pay wages, but only provides more liquidity for the agreement. This is where the investment is different from the previous investment of Coinbase Ventures.

PANews' previous analysis found that USDC is the most used of all the French currency stable coins in the DeFi project, and it has successfully caught up with DeFi.

Extended reading:

PANews has published an article on "Ethernet DeFi Lending Status: Maker into "Central Bank" User Demand for Money"

O9

Public chain development company CasperLabs completed $14.5 million in financing, Hashkey participated

On September 10th, Mr. Merinal Manohar, CEO of ADA, the parent company of CasperLabs, confirmed that CasperLabs, a public chain development company, received $14.5 million in investment in the newly completed Series A financing. Leading by Acuitas Group Holdings, Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, Distributed Global and IOSG Ventures. The goal of CasperLabs is to develop the so-called correctly designed Ethereum PoS Consensus Mechanism, which it says will use these newly financed funds to hire new engineers to further develop its products.

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