Newsweek is a weekly blockchain industry summary column, covering the week’s key news, mining information, project developments, technology advances and other industry developments. This article is one of the Newsweekly, taking you through this week’s blockchain industry events.
▌The Bank of Korea will use financial records to monitor cryptocurrency transactions
South Korea’s monetary policy regulator, the Bank of Korea (BOK), plans to obtain documents from financial institutions to track cryptocurrency transactions involving bank accounts. The bank said cryptocurrency prices fluctuate independently of the real economy and the growth of its market could pose a risk to the country’s financial system.
▌ Spanish regulator approves institutions to make cryptocurrency investments
Golden Finance reports that Spain’s market regulator has announced that it will allow companies with operating funds to make cryptocurrency investments. However, the regulator has set some terms. First, crypto products are only allowed to be offered if the market price is determined by a third party that conducts the purchase and sale operations. In addition, fund managers are obliged to warn their clients that crypto assets are “high-risk investments” that “involve a high speculative element”. Such warnings should also be included in the fund’s prospectus and clearly stated in all marketing materials. Finally, institutional investors and fund operators would be prevented from investing in certain types of crypto derivatives and securities based on crypto assets, including crypto asset-based exchange-traded commodities (ETCs) or exchange-traded notes (ETNs).
▌ Williston, North Dakota, U.S. Utility Bill Payments Accept Cryptocurrency Payments
May 14 (Bloomberg) — The city of Williston, North Dakota, has partnered with cryptocurrency payment company BitPay to add cryptocurrencies such as bitcoin as a payment method for utility bills, such as utility bills. Williston Finance Director Hercules Cummings said the city will conduct a quality assessment to expand the new payment method for bills such as permits and landfills. The new payment methods are in line with the city’s commitment to explore additional payment methods to keep pace with existing payment methods and to enable contactless payments. “There are also many benefits to using these online payment methods, including security, convenience and cost savings.”
▌ Argentine Tax Agency Requires Domestic Cryptocurrency Exchanges to Report Monthly Transactions and Wallet Balances
On May 14, Argentina’s Federal Administration of Public Income (AFIP) issued a “Form 8126” and forwarded it to every operating digital asset exchange in the country to comply with the new requirement. Companies must complete the form by the 15th of the month following the reporting month. Exchanges should report “the list of accounts used to identify each customer; the registrations, cancellations and modifications that occurred; the total revenue, expenses and final monthly balance of the wallet”. The payment gateway Mercado Pago will be subject to AFIP review.
▌Korea National Assembly Advisory Body: Establishing a Central Cryptocurrency Regulator
May 12 (Bloomberg) — A South Korean parliamentary subordinate body has developed a set of recommendations for further regulation of the country’s cryptocurrency industry, including the establishment of a new government-run department to handle cryptocurrency-related matters. Local media reports that the National Assembly Research Service (NARS), which is responsible for research and policy advice to members of parliament and parliamentary committees, has concluded that the government and regulators have left the cryptocurrency sector in limbo and recommended the creation of a new body with sole responsibility for setting crypto policy. the authors of the NARS report claim that while the Financial Services Commission (FSC) has taken the position that crypto assets cannot be considered as currency or financial products. Another financial regulator, the Financial Supervisory Service (FSS), recently mentioned tokens such as Bitcoin, Ether and XRP in its report on the state of the nation’s fintech. Meanwhile, the Bank of Korea has previously stated that it classifies tokens as a “form of commodity,” which has caused further confusion. In addition, the report’s authors add that the FSC is now “reacting passively” due to its stance on cryptocurrencies, and that it should “actively discuss the legal status of crypto assets, which authorities should be responsible and what measures can be taken to protect [investors]. The report’s authors also suggest that “curbing reckless speculation in the cryptocurrency market” should be a priority for Seoul. They also suggest that exchanges and cryptocurrency custodians should be forced to keep reserve funds (or contribute to a central pool) to prevent hacking and other unforeseen events. These companies should be obligated to keep customer tokens in cold wallets, they added.
▌Texas House Passes “Virtual Currency Bill”
Golden Finance reports that the Texas House of Representatives has just passed the “Virtual Currency Act,” which aims to recognize the legal status of virtual currencies. Before it can become law, the bill must clear the hurdles in the Senate. The bill seeks to add the term “virtual currency” to the Uniform Commercial Code. According to the bill, “‘virtual currency’ means a digital representation of value that serves as a medium of exchange, a unit of account, and/or a means of storing value and that is typically protected using blockchain technology.”
▌Hungary to Cut Taxes on Cryptocurrency Income by 50% Starting in 2022
May 11 (Xinhua) — Hungary will cut taxes on cryptocurrency income by 50 percent from 2022.
▌The Mission and Education Center of the Ministry of Ecology and Environment and Yili International intend to jointly launch a blockchain-based “3060” green digital platform
On May 14, the Ministry of Ecology and Environment Publicity and Education Center and Yili International Investment (Treelion Project) held an online signing ceremony this afternoon, and the two sides reached a five-year cooperation plan. The reporter learned from Yili International that the two sides will jointly launch the “3060” system, relying on blockchain, big data, AI and other technologies to build a green lifestyle around various life scenarios such as clothing, food, housing, transportation and travel, so that everyone can easily participate in pollution reduction and carbon reduction, with the aim of achieving universal participation in low-carbon life through standardized and digitalized forms. The aim is to achieve low-carbon life through standardized and digitalized forms, and help achieve the goal of carbon peak by 2030 and carbon neutral by 2060.
▌Economic Daily: Digital infrastructure such as new technology infrastructure represented by blockchain must be vigorously developed
On May 12, the Economic Daily published an article entitled “Activating digital infrastructure vitality to achieve high-quality development”. The article said that the development of digital infrastructure is conducive to the creation of new supplies. It is necessary to vigorously develop digital infrastructure such as communication network infrastructure represented by 5G, Internet of Things, satellite Internet, etc., arithmetic infrastructure represented by data centers and intelligent computing centers, and new technology infrastructure represented by artificial intelligence, cloud computing, block chain, etc.
▌U.S. Senator: U.S. Government Should Add DLT to the Priority List
Golden Finance reported that U.S. Senator Cynthia Lummis said in an amendment to a bill that the U.S. government should add distributed ledger (DLT) technology to its list of priorities. Lummis is reportedly supporting an amendment to add blockchain to the “Endless Frontier Act. The bipartisan bill would create a new Technology and Innovation Agency and set 10 “technology focus areas” for the new entity to assess and develop federal strategies. Lummis’ amendment would increase the number of focus areas to 11 to “add distributed ledger technology to the initial list.
▌U.S. Blockchain Company Launches “Homekeeper System” to Address Environmental Issues
May 15 news, the United States environmental blockchain company Jaguar chain held a meeting in Los Angeles, the meeting Jaguar chain announced the recent research results, launched a blockchain technology-based environmental solutions Home Protector System (Home Protector System), the use of blockchain technology to solve environmental monitoring problems, It aims to promote the development of global environmental protection, reduce environmental pollution and manage energy and monitor emissions in an integrated system.
▌Former U.S. President Barack Obama may have begun to focus on the blockchain field
Twitter shows: former US President Barack Obama followed Bitcoin Classic co-founder Carlo, who is suspected to be the first blockchain project founder Obama followed, which may mean that former US President Obama has started to pay attention to the blockchain field, Bitcoin Classic was born from a fork of the original Bitcoin chain at a block height of 630,000, and was developed continuously based on the original Bitcoin functionality and improved transaction speed, with the aim of building a global peer-to-peer electronic cash system.
▌ Fed Governor: Fed is spending time on central bank digital currency
Fed Governor Waller said, “The Fed is taking its time with central bank digital currencies, and it’s not clear that we’ve identified the issues it will address.”
▌Bank of England governor: digital currency will have an impact on interest rate setting
Bank of England Governor Bailey said that if there is a reason to use digital currencies, we will act. Digital currencies will have an impact on interest rate setting. Digital currencies are still a few years away, and privacy is a big issue with digital currencies.
▌ BOE deputy governor: the Bank of England has a good reason to issue a central bank digital currency
Bank of England deputy governor Jon Cunliffe said Thursday he believes the Bank of England has good reason to issue a central bank digital currency, although no decision has been made. cunliffe said the new crown epidemic has accelerated the Bank of England’s shift from cash to a central bank digital currency. He also said it seems very difficult to create a safe, secure, anonymous “bearer instrument” rather than a wallet- or account-based digital currency.
▌Bank of England deputy governor: no decision has been made to introduce a public digital currency in the United Kingdom
Bank of England Deputy Governor Cunliffe said that no decision has been made to introduce a public digital currency in the U.K. It is unclear whether the Bank of England can be a pillar of public confidence unless it can issue currency to the public.
▌Federal Reserve Bank of Boston President: Central Bank Digital Currency Can Improve Financial Inclusion
Boston Fed Bank President Eric Rosengren said the Fed is exploring the technology needed to establish a central bank digital currency, but more research needs to be done before the currency can be used. A central bank digital currency could improve financial inclusion, reduce the cost of cross-border financial transactions and provide greater flexibility in implementing monetary policy. However, Federal Reserve officials need to fully consider the policy implications and trade-offs associated with the use of digital currencies, including potential threats to financial stability.
▌ Fed’s Rosengren: Fed is considering technical and policy issues surrounding central bank digital currencies
The Fed’s Rosengren said the Massachusetts Institute of Technology and Boston Fed plan to provide written documents to the central bank in the third quarter. , the Fed’s current instant payment system is set to launch in 2023. Any decision to move forward with such a digital currency will depend on a variety of factors, and the Federal Reserve Bank of Boston will release a white paper earlier in the third quarter of this year to create an open-source license for the code. The Federal Reserve is considering technical and policy issues surrounding a central bank digital currency.
▌Digital RMB App Wallet Adds Neteller Bank Wallet to Digital RMB App Wallet
A few days ago, the icon of NetShares Bank was lit up in the Digital RMB APP wallet on the Select Add Wallet Operator page, while WeChat Bank is still in the soon-to-be-opened state. Meanwhile, some Alipay users can use some of the Digital RMB functions. This means that on top of the six major banks – ICBC, Agricultural Bank of China, Bank of China, Construction Bank of China, Bank of Communications and Postal Reserve – the digital RMB operating institution has added NetShares Bank. The reporter noted that compared with the six major banks, Netshang Bank has some functional limitations, and currently only the balance can be viewed but not consumed on the Digital RMB APP.
▌Israel is studying the possibility of issuing CBDC
The Steering Committee of the Bank of Israel is studying the possibility of issuing a central bank digital currency (CBDC), although no decision has been made on whether to issue a CBDC, and the committee has issued a draft model to discuss the characteristics of a future digital shekel.
Number of ▌Ethernet Profitable Addresses Reaches All-Time High
Golden Finance reports that glassnode data shows that the number of profitable Ether addresses (7-day moving average) just reached a new all-time high of 58,590,298.167.
▌ Upstate New York Miner Greenidge to Offset Bitcoin Miner’s Carbon Emissions
Golden Finance reports that Greenidge Generation’s natural gas-powered bitcoin mining operation has sparked controversy in upstate New York, so the company plans to offset emissions from those miners by purchasing carbon offset credits starting June 1. The power plant operator said it will invest in “projects that reduce greenhouse gas emissions” to offset 100 percent of the carbon footprint of its miners. The company also plans to invest some of its mining profits in renewable energy projects in New York, according to Friday’s statement.
▌Dogcoin Developer: Has Been Working With Musk Since 2019
Dogcoin developers said they have been working with Elon Musk since 2019. Musk has “been encouraging them to increase their trading volume,” providing “a lot of advice and input” and sharing his wide range of contacts. A team of four core developers welcomed Musk’s advice, but declined his offer of funding.
▌Trader: India’s Banks Have Started Crackdown on Cryptocurrencies
Golden Finance reports that while India has not officially banned cryptocurrencies, the country’s banks appear to be cracking down on cryptocurrencies and exchanges. Indian cryptocurrency traders are receiving notices from banks to close their accounts, and exchanges are finding problems with their bank transfers.
▌Coinbase CFO: Coinbase lending business may add ETH as collateral
Coinbase may add ETH as collateral in the near future as part of a strategy to expand its lending business, said Coinbase CFO Alesia Haas on May 14. Haas said the company may look to expand its collateral universe to include Ether in the coming months or quarters. Coinbase launched its lending business in the fourth quarter of 2020 and began expanding its business in the first quarter of this year. In the long term, Coinbase aims to expand the program to include its lending across multiple assets, add more overseas markets and increase its loan balances.
▌UK Financial Regulators Approve Digivault Registration as a Compliant Digital Asset Custodian
May 14 – The UK’s financial regulator has approved Digivault, the security-based token custodian arm of digital asset group Diginex, to register as a custodian wallet provider.Digivault aims to provide compliant and secure custodian services for crypto asset companies and institutional investors.
▌DBS Private Bank Launches Cryptocurrency Trust Solution for BTC, ETH, BCH and XRP
DBS Private Bank, through the bank’s wholly-owned trust company, DBS Bank Trustee, has launched a cryptocurrency trust solution that allows its private banking clients to invest in, hold and manage digital assets. This trust product is only available for BTC, ETH, BCH and XRP, which are the four cryptocurrencies hosted on the DBS Digital Exchange. Because the trust is excluded from the probate process, it would not normally be part of the public record. The bank said this will save clients’ beneficiaries from having to deal with the potential complications that can arise in the probate process, including estate taxes in jurisdictions. Joseph Poon, group head of DBS Private Banking), said in a press statement Friday (May 14) that more and more clients have expressed interest or have invested in digital assets in recent years, and we expect this trend to accelerate as cryptocurrencies become more mainstream. Our trust structure allows clients the convenience of holding these assets and the peace of mind that they will be managed safely and transferred to their intended beneficiaries.
▌ Musk: Working with Dogcoin developers to improve transaction efficiency
Golden Finance reports that Tesla CEO Elon Musk tweeted, “Working with Dogcoin developers to improve system trading efficiency. Potentially promising.”
▌Coinbase plans to go live with Dogcoin in the next 6-8 weeks
Coinbase CEO Brian Armstrong said during the company’s first quarter earnings call that Coinbase plans to offer dogcoin trading in the next 6-8 weeks, Golden Finance reported. Armstrong said Coinbase is changing its process for going live with tokens to include digital assets that have just been minted. In the future, the company will start listing the so-called “first-issue” cryptocurrencies that have just been minted and will see their first day of trading volume.
▌Coin On is under investigation by the U.S. Department of Justice and the IRS
Trading platform Cryptocurrency is being investigated by the U.S. Department of Justice and the IRS, and officials investigating money laundering and tax violations have sought information from individuals with in-depth knowledge of Cryptocurrency’s business as part of the probe, people familiar with the matter said. Because the investigation is confidential, the person familiar with the matter declined to be named.
▌Dallas Mavericks to Continue Accepting BTC, ETH and DOGE Payments
In a May 13 tweet in response to Musk, Dallas Mavericks owner and billionaire Mark Cuban said the Mavericks will continue to accept Bitcoin, Ether (ETH) and Dogecoin (DOGE) as payment for tickets and merchandise.
▌Beachclub, North America’s Largest Outdoor Club, Begins Accepting Bitcoin and Ether Payments
Outdoor club Beachclub will begin accepting Bitcoin and Ether payments, becoming the first club in Canada to accept Bitcoin and Ether as a payment method. It is reported that Beachclub club can accommodate 10,000 people and is the largest outdoor club in North America.
▌ Citi Executive: Cryptocurrency Will Be Part of the Service
Jane Fraser, president and head of global consumer banking at Citigroup, said cryptocurrencies and digital currencies will be part of the service.
▌eBay will allow NFT sales on the platform
E-commerce giant eBay will allow the sale of NFTs on the platform. the company said that in the short term, NFT inventory will be made available to sellers who meet eBay’s criteria, and users will see future plans, policies and tools about buying and selling NFTs that will cover a broader range of categories. eBay’s Jordan Sweetnam, senior vice president and general manager of North American markets, said that in the next months, eBay will add new features to bring blockchain-powered collectibles to the platform.
▌ Bahrain’s Central Bank Partners with JPMorgan, Others on Digital Currency Settlement
Bahrain’s central bank is working with JPMorgan Chase and Bank ABC on a digital currency settlement pilot program, the bank said in a statement on Tuesday, Golden Finance reported. Bank ABC and JPMorgan Chase will work together to pilot the transfer of funds to and from Bahrain through payments from buyers to suppliers via U.S. dollars. This will result in faster payments to suppliers, while buyers will be able to issue payments in a shorter period of time without having to hold funds in advance, the statement said.
▌US-listed Big Data Analytics Company Palantir Announces Acceptance of Bitcoin Payments and Considers Investing in Bitcoin
US-listed big data analytics company PalantirTechnologies announced on a conference call that it will accept bitcoin payments and consider investing in bitcoin to add it to its balance sheet. Palantir was founded by top Silicon Valley investment godfather Peter Thiel in 2003 and will go public in 2020, with its main service customers being official US agencies.
▌ Musk Announces Tesla Suspends Bitcoin Payments
Golden Finance reported that Tesla CEO Elon Musk tweeted that Tesla suspended the use of bitcoin payments. Musk said Tesla will not sell any bitcoin and will use it for trading once mining transitions to more sustainable energy sources.
▌V God Withdraws Liquidity from SHIB Pool and Donates 50 Trillion to India’s New Crown Relief Foundation
According to a tweet from The Block research analyst Igor Igamberdiev, V God (Vitalik Buterin) has withdrawn liquidity funds from the SHIB pool, according to Etherscan data. Some of the tokens were transferred to the India Covid-Crypto Relief Fund, launched last month by Polygon founder Sandeep Nailwal, the Methuselah Foundation and the GiveWell Foundation. Among them, V God donated 50 trillion SHIB (currently worth $1.2 billion) to the India Covid-Crypto Relief Fund. In previous news, V God Wallet had received 50% of the SHIB in August 2020.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/several-overseas-institutions-accept-btc-payments-v-god-dumps-animal-coin/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.