LianGuai Morning News | Hong Kong Securities and Futures Commission Releases Multiple Lists of Virtual Asset Trading Platforms

Hong Kong SFC releases lists of virtual asset trading platforms.

Headlines

▌JPEX: “DAO Shareholder Dividend Scheme” referendum has ended and the results will be announced 7 working days later.

LianGuai reported that JPEX, a virtual asset trading platform involved in a suspected fraud case, announced that the “DAO Shareholder Dividend Scheme” referendum ended on September 28, 2023, at 20:00. The platform will conduct data statistics and release the results of the referendum 7 working days later. As previously reported by LianGuai, JPEX plans to launch a “DAO Shareholder Dividend” asset exchange scheme worth about 400 million USDT. The platform will distribute 49% of the DAO shareholder dividends to external parties. Existing users can exchange their assets stored on the platform at a ratio of 1:1 for DAO shareholder dividends.

▌Hong Kong Securities and Futures Commission releases multiple lists of virtual asset trading platforms

LianGuai reported that the Securities and Futures Commission (SFC) of Hong Kong today published several lists of virtual asset trading platforms on its website to ensure the clear, transparent, and timely dissemination of information about virtual asset trading platforms. These lists include:

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1. “Licensed Virtual Asset Trading Platform List” lists the names of virtual asset trading platform operators who have obtained licenses from the SFC. It involves two platforms: OSL Exchange and HashKey Exchange;

2. “Virtual Asset Trading Platform Applicant List” lists the names of virtual asset trading platform operators who have applied for licenses but have not yet obtained approval from the SFC. It involves four platforms: BGE, HKbitEX, HKVAX, and VDX;

3. “Closed Virtual Asset Trading Platform List” lists the names of virtual asset trading platform operators who are required to close their operations within a specified period under relevant legislation;

4. “Virtual Asset Trading Platform List Treated as Licensed” lists the names of virtual asset trading platform operators who were treated as licensed as of June 1, 2024. The SFC also released a special list of suspicious virtual asset trading platforms, involving six platforms: FUBT Exchange, futu-pro (futubit), EFSPD, JPEX, arrano.network, OSL Exchange.

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Market

As of press time, according to coinmarketcap data:

BTC recently traded at $25,946.8, with a daily change of +0.73%;

ETH recently traded at $1,591.95, with a daily change of +0.93%;

BNB recently traded at $211.4, with a daily change of +1.15%;

XRP recently traded at $0.47802, with a daily change of +1.34%;

DOGE recently traded at $0.061133, with a daily change of +0.46%;

ADA recently traded at $0.2469, with a daily change of +0.61%;

The recent trading price of SOL is $18.2, with a daily change rate of +1.35%.

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Policy

▌SEC of the United States submits documents to solicit opinions on spot Bitcoin ETF matters

LianGuai reports that the U.S. Securities and Exchange Commission (SEC) submitted several documents on September 28, involving pending spot Bitcoin ETFs. These documents serve as orders to initiate the SEC’s process of deciding whether to approve or reject proposed rule changes. If these rule changes are approved, it will pave the way for spot Bitcoin ETFs to start trading on commodity exchanges. The SEC is seeking opinions from various parties through its latest documents. The first part mainly asks commentators to express their views on whether the proposed spot Bitcoin ETF is susceptible to or can prevent fraud and manipulation. In another section, the SEC asks commentators whether they believe certain aspects of Bitcoin, such as its geographically widespread trading activity, relatively slow transaction speed, and the amount of capital required for significant participation on each trading platform, would inherently resist market manipulation. The SEC also asks commentators whether they agree that signing a monitoring sharing agreement with Coinbase would help in discovering, investigating, and preventing fraudulent activities. In mid-July, several ETFs awaiting issuance added this agreement with Coinbase through revisions. In other aspects, the SEC asks commentators whether the Chicago Mercantile Exchange (CME), compared to spot Bitcoin, represents a large-scale regulated market. The SEC has previously approved Bitcoin futures ETFs, indicating that any similarities may affect its decision on a new type of spot Bitcoin ETF.

▌Sunacrip, the cryptocurrency regulatory agency of Venezuela, extends the restructuring deadline

LianGuai reports that the Venezuelan government officially announced a six-month extension of the restructuring deadline for the national cryptocurrency regulatory agency Sunacrip. The reason is that the former head of the agency was involved in corruption schemes. The Venezuelan cryptocurrency association Asonacrip has requested Sunacrip to establish communication channels with the affected communities.

▌Circle intervenes in the SEC’s case against Binance, claiming that stablecoins are not securities

LianGuai reports that stablecoin issuer Circle has intervened in the case brought by the U.S. Securities and Exchange Commission (SEC) against Binance, arguing that financial securities laws should not apply to stablecoins that are pegged to the value of other assets. Circle believes that assets like BUSD and USDC, which are pegged to the U.S. dollar, do not constitute securities, partially because their users do not expect to gain any profits from their purchases. Circle states in the documents that payment stablecoins themselves lack the fundamental characteristics of investment contracts, meaning that they are not within the jurisdiction of the SEC.

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Blockchain Applications

▌BIS, the central banks of France, Singapore, and Switzerland successfully test cross-border wholesale CBDC using DeFi technology

LianGuai report, the Bank for International Settlements (BIS) has successfully completed the Mariana project with the central banks of France, Singapore, and Switzerland. The project tested the cross-border transactions and settlements of wholesale central bank digital currencies (wCBDCs) between financial institutions using new DeFi technology concepts on a public blockchain. The concept validation of the project successfully tested the cross-border transactions and settlements of simulated wCBDCs in Euro, Singapore Dollar, and Swiss Franc between hypothetical financial institutions. The process relies on three elements: 1. The token standards provided by the public blockchain for facilitating exchange and interoperability between different currencies. 2. Bridges for seamless transfer of wCBDCs between different networks. 3. Automated market makers (AMMs), a specific type of decentralized exchange used for automatically trading and settling spot forex transactions. The Mariana project was jointly developed by the three innovation centers of the Bank for International Settlements (Switzerland, Singapore, and Eurosystem Center) and the central banks of France, Monetary Authority of Singapore, and the Swiss National Bank.

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Cryptocurrency

▌Bitcoin Whales Accumulate BTC to New High in 2023

LianGuai report, data released by Santiment shows that Bitcoin whales (defined as BTC wallets holding 10 to 10,000 BTC) have currently accumulated the highest amount since 2023, with 13.03 million BTC. In addition, Tether whales are accumulating purchasing power, which is usually a bullish combination.

▌Optimism Announces Plans to Establish Security Council

LianGuai report, Optimism announced in an official tweet that it will launch an agenda to establish a Security Council, aiming to achieve system upgrades, Rollup state modifications, or transaction audits that cannot be unilaterally controlled. Optimism stated that it will propose governance proposals to add the Security Council as a multisignatory signer for controlling Op Mainnet protocol upgrades, and will propose further governance proposals for specifically transferring multisignature control to the Security Council. The complete Security Council will consist of at least 8 members, and any relevant proposal requires at least 75% of the members’ signatures to pass.

▌$3.2 Billion BTC and $1.8 Billion ETH Options Contracts Set to Expire on the 29th

LianGuai report, as of September 29th, options contract data: 118,000 BTC options contracts are about to expire, with a put/call ratio of 0.58, a maximum pain point of $26,500, and a nominal value of $3.2 billion. 1.11 million ETH options contracts are about to expire, with a put/call ratio of 0.46, a maximum pain point of $1,650, and a nominal value of $1.8 billion. Greeks.live stated that this is a quarterly expiration, which is consistent with previous years’ third quarter; the third quarter is usually the least active period, and compared to weekly expirations, the share of put options positions is significantly lower. Recent liquidity has continued to deteriorate, and significant position transfers have been the main trading driving factor this week. As the expiration approaches, implied volatility continues to decline.

▌A whale bought 6000 ETH at an average price of $1646

LianGuai reports that according to Spot On Chain, the whale with the address 0x828 exchanged a total of 9.88 million USDC for 6000 ETH at an average price of $1646 approximately 16 to 10 hours ago. The price of ETH rebounded by 4.7%. It is worth noting that this whale has made a profit of $14 million in the previous two ETH transactions. However, due to the lack of profit in the third transaction and position opening, the estimated total profit from ETH has decreased to about $7 million. The whale currently holds 8000 ETH ($13.2 million).

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Important Economic News

▌U.S. House of Representatives passes two appropriations bills, but partial government shutdown remains possible

LianGuai reports that according to foreign media, the U.S. House of Representatives passed a bill with 216 votes to 212 votes to provide funding for the State Department and other diplomatic affairs, as well as a bill to appropriate funds for the Department of Defense. Previously, House Speaker McCarthy canceled the appropriations for Ukraine in response to demands from the Republican hardliners. These bills were among several that received votes at a late-night meeting and will not prevent a partial government shutdown starting from Sunday.

▌House Republicans introduce a temporary appropriations bill to fund the U.S. government

LianGuai reports that House Republicans have introduced a temporary appropriations bill to fund the U.S. government.

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LianGuai Encyclopedia

▌PoS – Proof of Stake

Proof of Stake is a system that distributes interest based on the amount and time of holding the currency. In the PoS mode, your “mining” income is proportional to the age of your coins and is independent of the computer’s computing power.

Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to increase risk awareness.

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