Category

Yuan An and the U.S

Since the U.S

There are two factors driving asset prices - liquidity and faith. Liquidity refers to the amount of capital available for buyers and sellers to enter or leave the market

Since its inception, Bitcoin has continuously increased in value!Bitcoin is a cryptocurrency that has the following advantages:Decentralization: Bitcoin is decentralized and has no central agency or government control over it. This means that no single entity can control the supply, value, or transaction history of Bitcoin

With the upgrading of Ethereum, the development momentum of the digital currency market is becoming stronger, and more and more investors are paying attention to the trading of digital assets. As an important component of digital currency trading platforms, BitTree is highly favored by investors for its security, convenience, and flexibility

Bitcoin has surpassed Tesla and returned to the top 10 global assets by market value, according to the latest data from 8Marketcap. Due to its price rising above $30300, Bitcoin's market value has risen to $586

Recently, the Bitcoin market has staged a thrilling drama. On the evening of April 21st, the price of Bitcoin suddenly plummeted, plummeting nearly $1000 and breaking the $28000 mark

Asset or currency, this is a common dilemma faced by cryptocurrencies globally, and different identity definitions inevitably lead to regulatory policies heading in completely different directions.Originated by Chain News (ID: ChinaBlockchainNews)Author | Huang WanyiAccording to media reports on June 6th, the US Securities and Exchange Commission (SEC) is conducting an investigation into Coin An, mainly involving the BNB token issued by Coin An in 2017

FTX has fallen into the abyss, and Coin An is standing on the edge of the cliff.Despite CEO Zhao Changpeng's strong claim that the company's financial situation is stable, investors still withdraw funds like frightened birds

Reporter | Feng SaiqiEdit|Recently, hackers invaded the public chain BNBChain under the cryptocurrency exchange Coin, causing the world's largest cryptocurrency exchange to lose approximately $566 million in cryptocurrency assets.According to the official statement of Coin An, hackers have discovered a contract vulnerability in the cross chain bridge "BSCTokenHub" of BNBChain, bypassing the contract detection of BNB chain and obtaining encrypted assets through the issuance of Coin An Coin (BNB)

Reporter | Si LinweiBlockchain network security continues to be challenged.On October 7th Beijing time, one of the most active public chains in the world, BNBChain, was hacked, involving assets worth over $500 million

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