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In the chaos of the cryptocurrency industry, some counterfeit currencies have shown gains on the weekly chart, and their performance is noteworthy compared to major currencies. Shanzhai coin analyst Sherpa shares some of the next steps in the development of shanzhai coins in a new video

Although not many people may have benefited from Elon Musk's acquisition of Twitter, the Doge community is undoubtedly pleased. The Musk effect is correct, and a dog landing on the moon is once again possible, as dog coins have risen by more than 120% in the past 7 days

Standard Chartered Bank predicts that Bitcoin will rise to $100000 next year after the winter. Geoff Kendrick, head of digital assets at Standard Chartered Bank, stated in his latest report that Bitcoin may benefit from recent market developments

In the past month, Dogcoin has performed surprisingly well. During this period, it experienced a 119% rebound and defeated other counterfeit coins

Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of Mars Finance

A recent tweet released by the analysis platform Santiment shows that Ethereum's active deposits have just reached an 8-month high. In ordinary markets, the progress of such activities is usually welcomed by market participants

Some rapid declines have failed to lift Bitcoin out of its familiar trading range, with one trader calling it "in an uncertain state".BitcoinOn May 6th, there were new fluctuations as low liquidity weekend trading tested the courage of its trading range

Article | AI Finance and Economics Society Yi Wei Chen ChangEditor | Shi JinBorn out of a joke, abandoned by the founder, unlimited distribution Crazy dog coins don't bark, but now more and more people are shouting for their help.On May 8th, Musk once again "endorsed" cryptocurrency Dogcoin on the talk show "Saturday Night Live (SNL)"

Simply putOn April 3rd, DOGE broke through $0.10 for the first time in 2023

Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of MarsBit

On March 19th, Ethereum founder Vitalik Buterin posted several consecutive tweets expressing his views on the development of ETH2.0 in the next 5-10 years and beyond

The Hong Kong Securities Regulatory Commission will introduce a mandatory virtual asset trading platform (VASP) licensing system starting from June 1 this year, and plans to open up retail investors to invest in virtual assets. The Hong Kong Securities Regulatory Commission recently stated that it will release licensing guidelines for virtual asset trading platforms next month.After the formal implementation of the new virtual asset platform licensing system, all virtual asset exchanges operating in Hong Kong or promoting services to Hong Kong investors, regardless of whether they provide securities based token trading services, must obtain licensing from the Hong Kong Securities Regulatory Commission and be subject to its supervision.Conducting any unlicensed activities is a criminal offense.On April 26th, the Chief Executive of the Hong Kong Securities Regulatory Commission, Leung Fung yi, stated during an event that it is expected to introduce licensing guidelines for virtual asset trading platforms in May. During the previous consultation process, more than 150 feedback opinions were received.The main suggestion of consultation is to open up licensed platforms to provide services to retail investors. Zhitong Finance has learned that according to previous policies, platform operators can only provide services to professional investors with a funding threshold of up to HKD 8 million, and ensure that their customers fully understand virtual assets. In addition, licensed platforms will be included in the regulatory sandbox of the China Securities Regulatory Commission and will be subject to close and rigorous supervision for a period of time.On December 16, last year, the ETF based on Bitcoin and Ethereum futures launched by Southern Dongying Asset Management Co., Ltd. was officially listed on the Hong Kong Stock Exchange, marking Hong Kong becoming the world's first market to provide Ethereum futures ETF and the first market in Asia to provide Bitcoin futures ETF. Under the latest proposed trading platform system, retail investors can directly participate in Bitcoin and Ethereum trading on regulated platforms in the future.In fact, the licensing procedures for virtual asset transactions in Hong Kong have always been very strict. Under the existing system, only two encryption platforms are licensed - OSL (OSL DigitalSecurities Limited) and HashKey (HashBlockchain Limited).(Image source: Hong Kong Securities Regulatory Commission)According to media reports,Huo Coin, OKEXBoth parties have expressed their intention to apply for an exchange license in Hong Kong and have established an office in Hong Kong.Additionally, the Singapore basedDBS Silverthat 's okIt also stated its intention to apply for relevant licenses in Hong Kong to provide cryptocurrency services to local customers.that 's ok12 month transition period arrangementThe Hong Kong Securities and Futures Commission stated that considering that platform operators licensed under the Securities and Futures Ordinance may need to modify their systems and monitoring measures to comply with the new regulations, a transition period of 12 months has been proposed.The China Securities Regulatory Commission stated that, Anyone who engages in the business of providing virtual asset services or shows that they operate the business must apply for a license from the Securities and Futures Commission. The existing virtual asset trading platform has been provided as a licensed arrangement, so that they can continue to operate in Hong Kong after the implementation of the virtual asset service provider system under the Anti Money Laundering Ordinance. It must be within the period from June 1, 2023 to February 29, 2024, in accordance with the Anti Money Laundering Ordinance The virtual asset service provider system under is to submit fully completed license applications online. If the SFC considers that the relevant license application meets the conditions for licensing, the virtual asset trading platform will automatically be deemed to have been licensed from June 1, 2024 This passage may sound quite convoluted, but to put it bluntly, the two companies that have already been licensed need to comply with the new regulatory requirements within the prescribed transition period.As for the original virtual asset trading platform, if it has no intention of applying for a license, it should start preparing to end its business in Hong Kong in an orderly manner, with a deadline of May 31, 2024.Fierce business of virtual insurance companiesAccording to the consultation document of the Hong Kong Certificate Authority,The platform that applies for a license must insure the customer's assets.Liang Fengyi also told the media that the Hong Kong Securities Regulatory Commission is in discussions with the Insurance Regulatory AuthorityThe cost of purchasing insurance for customer assetsOther matters.OneDegree Group