Overview
Ripple’s market cap once beat Ethereum to become the second largest cryptocurrency
The potential reasons behind Ripple’s price hike: 1. xRapid’s launch 2.PNC joined RippleNet 2.Ripple dodged “security” label 3.Investors’ FOMO (Cointelegraph)
People’s Bank of China continue to warn investors against the risks of ICO and cryptocurrency trading (PBoC)
Financial Action Task Force will discuss standards for cryptocurrency anti-money laundering (newsBTC)
Nasdaq acquired Cinnober, a crypto-friendly trading solution provider based in Sweden (CCN)
1. People’s Bank of China: continuous warning against ICO and virtual currency risks. ICO is illegal issuance of securities, illegal fund-raising, financial fraud, Ponzi scheme and other criminal activities.
2.Ukrainian parliament plans to impose a 5% cryptocurrency tax on its residents: cryptocurrency income will be declared separately from other income. If the bill passes, the cryptocurrency tax on commercial entities will rise to 18 percent from January 1, 2024. (Coindesk)
3. Monetary Authority of Singapore has incorporated securities tokens into existing securities and futures law. MAS does not intend to regulate utility tokens
4.Financial Action Task Force will release cryptocurrency anti-money laundering standards in October (newsBTC)
5. SEC Director vows more substantial enforcement against illegal ICOs. (CCN)
6.Zimbabwe’s new finance minister: digital currency could help southern African countries tackle cash shortage: Ncube, Zimbabwe Minister of Finance, has promised to nudge the Reserve Bank of Zimbabwe (RBZ) into establishing a cryptocurrency division that will be tasked with assisting the country’s apex bank to develop a better understanding of digital assets. (IT Web Africa)
1.Nasdaq acquired Swedish transaction solutions provider, Cinnober: Cinnober provides transaction services for institutional investors. Cinnober’s partnership with BitGo, a crypto-asset custody service approved U.S. regulator, could well-position Nasdaq for large institutional investors. (CCN)
2. Wang Xin, CEO of Ringle.AI, said: hasn’t consider issuing cryptocurrency. Ringle.AI will focus on the blockchain AI application layer development. The company wants to promote the implementation of blockchain technology and sustainable development of the industry.
3.Xiaomi launched the blockchain advertising project, “Plan Bridge”: Xiaomi announced that it will work with Anchor to launch blockchain advertising project, “Plan Bridge”. Advertisers’ will have more accurate marketing target through Xiaomi’s customer data.
4. Ant Financial released Backend-as-a-Service platform: Backend-as-a Service can be embedded in mobilephone, PC, wearable equipment and open platform to support an array of financial activities.
5. Hangzhou Internet Court launched the first blockchain judicial platform: blockchain judicial platform adds credibility to legal process: generating, storing, disseminating, and using electronic data.
6. Shanghai Information Security Testing Evaluation and Certification Center is working on setting blockchain security standards. (Jiemian)
7. Offshore RMB stablecoin WIT (Wealth in Token) suspected to arbitrage over $1 billion RMB: according to investigation by “Deepchain”, $1 billion RMB deposit for supporting stablecoin WIT can not be traced and found.
8.The Bitmain IPO was postponed. Bitmain defended that everything is business-as-usual.
9. Bitmain released 7nm bitcoin mining chip: the new 7nm chip is designed using SHA256 algorithm. A chip can integrate up to 1 billion transistors. The chip can achieve a ratio of energy consumption to mining capacity that is as low as 42J/TH.
