This week, governments of various countries have increased their investment in blockchain technology, and small and medium-sized countries have promoted the development of digital currencies in their countries.
In foreign countries, the British Financial Conduct Authority announced the establishment of a new alliance aimed at strengthening cooperation with financial technology companies in innovative fields such as blockchain; the US SEC postponed the final decision date of the Bitcoin ETF application to September; in addition, Thailand, the Philippines The positive news on digital currencies in countries such as China, South Africa, and South Korea is obvious.
Currency market
Currency market
Bitcoin BTC reported at $6462.7, a change of -11.12% within 7 days;
Ethereum ETH reported at $359.93, a change of -1.18% within 7 days;
Ripple XRP was quoted at $0.33719, a change of -21.39% within 7 days;
1. Good news
Image Source:Invsting.comChinese website
Focus this week
Foreign plate
1. Good news
11 global financial regulators form an alliance to launch a blockchain global sandbox
According to CCN, 11 financial regulators around the world have cooperated to form the "Global Financial Innovation Network" (GFIN) alliance to help further develop financial technologies such as blockchain. The alliance brings together 11 financial regulators from various countries under the proposed mandate of the UK's Financial Conduct Authority (FCA) earlier this year. The UK's FCA said GFIN was built on the concept of a "global sandbox", suggesting the consortium would help innovative firms interact with domestic and international regulators.
According to Cointelegraph, the UK Financial Conduct Authority (FCA) announced the establishment of the Global Financial Innovation Network (GFIN), which aims to improve innovative cooperation between regulators and financial technology companies, such as the blockchain field. GFIN aims to consult on the development of technologies such as distributed ledger technology and artificial intelligence (AI), as well as on topics such as securities regulation and ICOs.
South African Revenue Agency Proposes Draft Digital Currency Tax
According to TechWeez, the South African Revenue Service (SARS) has proposed a draft tax revenue generated from digital currency transactions and operations. The proposal was affirmed by the South African digital currency industry as it signaled government support for the industry. The proposal was first rolled out in April, when SARS announced plans to tax digital currencies.
Two, promote
Two, promote
The Philippines Is Building an Asian 'Crypto Valley'
According to bitcoin reports, the Cagayan Economic Zone Authority (CEZA) of the Philippines has partnered with Northern Star Gaming & Resorts Inc to develop an encryption and financial technology center called Crypto Valley of Asia (CVA). CEZA administrator and CEO Raul L. Lambino commented in an official press statement: “This infrastructure will attract more foreign investors and global fintech companies to CEZA and the Philippines. This will help the country One of the leading offshoring destinations for chain-related jobs.
Thailand’s Securities and Exchange Commission (SEC) said about 50 ICO projects have expressed interest in applying for operating licenses after the Ministry of Finance rolled out ICO regulations, the Bangkok Post reported. Rapee Sucharitakul, secretary-general of the SEC, said that a total of five ICO portals expressed interest in applying for a license, and three of them have already submitted applications to the SEC. About 20 more companies have applied for licenses to exchange digital assets.
3. Regulatory upgrade
3. Regulatory upgrade
SEC Delays Final Decision Date on Bitcoin ETF Application to September
The Securities and Exchange Commission (SEC) has delayed its decision on whether to allow a bitcoin-backed exchange-traded fund (ETF) to go public, coindesk reported. The SEC now has until Sept. 30 to approve or disapprove, or move an agenda to decide whether to approve a proposed rule change from Cboe Global Markets Inc., the SEC said in a statement.
Japan Digital Currency Regulatory Overhaul Aims to Curb Speculative Investments
Japan’s financial regulator, the Financial Services Agency (FSA), is considering reforming the regulatory framework for the digital currency sector to curb speculative investment in digital currencies, CCN reported. It is reported that in April 2017, Japan's FSA implemented new legislation to amend the "Payment Service Law" to treat digital currencies as legal tender.
Ohio bill defining blockchain and smart contracts goes into effect
to reportto report, last Friday, Ohio Governor John Kasich signed the SB220 amendment, declaring that the bill came into effect. The bill provides for the legal validity of electronic records or contracts obtained through blockchain technology.
According to Dnaindia.com, there is news that India may soon get its own cryptocurrency. Sources close to the developers said that the government is currently researching technologies and applications related to virtual currencies and is trying to find a way. Using this technology in a positive way, we look forward to developing a local virtual currency in the country. It has been revealed that the blueprint for India's local virtual currency will be ready by September 2018 and the final guidelines related to cryptocurrencies will be released in the first week of September. Currently, it is negotiating with RBI, SEBI and other stakeholders.
Ukraine may tax cryptocurrencies
Domestic sector
Domestic sector
On August 8, the National Internet Financial Security Technology Expert Committee released the "Blockchain Technology Security Overview Report", pointing out that the development of blockchain technology is in the ascendant, and most technologies and applications are in the experimental stage. At present, most of the security incidents occurred in the fields related to encrypted assets. According to the Mutual Finance Special Committee, at present, there are six common hidden dangers and vulnerabilities in encrypted asset trading platforms, namely denial of service attacks, phishing incidents, hot wallet protection issues, internal attacks, software vulnerabilities, and transaction malleability.
The Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "Three-Year Action Plan for Expanding and Upgrading Information Consumption (2018-2020)", proposing to organize pilot projects for the application of new technologies such as blockchain.
The Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "Three-Year Action Plan for Expanding and Upgrading Information Consumption (2018-2020)", proposing to organize pilot projects for the application of new technologies such as blockchain.
