SEC wants to regulate cryptocurrency, Indian blockchain venture capital grows 400%

On August 13th, the chairman of the US Securities and Exchange Commission (SEC) Gary Gensler pointed out that there is indeed a need to regulate cryptocurrency transactions and protect investors and the financial system. These transactions, products or platforms also need to be regulated.

ZB Research Institute believes that the US SEC may be concerned that when cryptocurrency transactions are conducted on centralized or DeFi platforms, the subject matter of the transaction may be unregistered tokens, and the current unregistered tokens only involve securities-related laws and regulations. Involving commodity law and banking law. Therefore, many issues such as financial security caused by policy restrictions will make the SEC even more worried.

Therefore, whether it is stock tokens, stable value tokens backed by securities, or any other synthetic products that provide basic securities, the SEC hopes to fully control its operation. This policy-based control has a negative impact on blockchain-listed companies. According to statistics on the 13th, the blockchain sector in US stocks weakened before the market. Bit Mining (BTCM.N) fell 5.3%, and Marathon Patent (MARA.O) fell. 4.2%, Riot Blockchain (RIOT.O), Ninth City (NCTY.O), Canaan Technology (CAN.O) fell more than 3%.

SEC wants to regulate cryptocurrency, Indian blockchain venture capital grows 400%

According to the news on August 13th, according to relevant Indian statistics, as of August 13, 2021, the Indian crypto and blockchain industry has concluded 13 transactions through venture capital companies, with a total amount of more than 176.9 million US dollars. , An increase of 400% over the same period in 2020. Industry analysts said that there will be more large-scale transactions in the future. Venture capital companies are looking for top cryptocurrency trading platforms, while smaller companies are looking for seed funding for Dapps and crypto wallets.

On August 13th, the humanitarian organization CARE announced the development of its first project in Latin America using blockchain technology. CARE stated that its goal is to use the Celo blockchain to achieve a faster, cheaper, and more traceable rescue delivery method. CARE pointed out that no middleman in disseminating funds will use more funds for its mission.

On August 13th, the ZB Research Institute received news from Reuters that Lionel Messi’s transfer to the Paris Saint-Germain Club, France’s financial plan includes the payment of cryptocurrency fan tokens.

The ZB Research Institute believes that unlike the United States that wants to regulate cryptocurrency, India’s attitude towards cryptocurrency is even worse. However, the rapid growth of venture capital investment in the Indian blockchain industry also shows that the unilateral supervision of governments around the world may not be as “powerful” as practitioners think. Analysts pointed out that with the two attitudes of governments around the world in supervision and support Switching between, the blockchain industry has made internal business adjustments to its attitude. Therefore, in the future, more venture capital companies will invest in individuals and companies with IP effects, such as Messi.

On August 13th, DBS Vicker, the securities business of DBS Bank, has been approved in principle by the Monetary Authority of Singapore (MAS) as a financial institution to provide digital payment token services under the management of the Payment Services Act. . DBS issued a statement stating that the group has made steady progress in its asset digitization strategy, and DBS Vickers is one of the first financial institutions to obtain this principle approval. In the future, DBS Vickers can support fund managers and companies to conduct digital payment token transactions through DBS’s digital exchange DDEX. In addition, starting next week, DDEX will operate around the clock. Previously, the exchange only operated during Asian trading hours.

China Currency (ZB) Research Institute believes that Southeast Asia, especially Singapore, has become a “refuge” for the global blockchain market and the field of cryptocurrency. After 2020, Singapore has accommodated a large number of blockchain companies. The status has also been continuously improved. Analysts believe that the continuous entry of blockchain companies may promote the substantial growth of Singapore’s economy.

 

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