Pengerusi SEC Beri Amaran Kepada Platform DeFi

Gensler merujuk kenyataan tersebut kepada sistem DeFi yang mana memudahkan perdagangan token di Ethereum dan blockchain kontrak pintar yang lain.  Jelasnya, jika pendaftaran tidak dilakukan maka tidak mustahil seluruh ekosistem DeFi akan dikenakan tindakan undang-undang sekuriti.  Gensler juga tidak teragak-agak mendakwa kebanyakan platform DeFi yang dibangunkan dikawal oleh pasukan berpusat dengan tawaran insentif:  “Dari satu aspek, mungkin kesemua platform DeFi memudahkan sesuatu yang tidak berpusat (desentralisasi) tetapi pada aspek yang lain juga mereka sangat berpusat.”  Pegawai SEC, Hester Peirce – individu yang sinonim dengan gelaran ‘Crypto Mom’ turut menyuarakan isu yang sama pada minggu lepas.  Menurutnya, ada ‘bayangan berpusat’ dalam sektor DeFi dan memberi amaran kepada mereka yang terlibat dalam projek DeFi untuk berhati-hati: “Jika anda ingin menjadi desentralisasi, maka anda perlu betul-betul desentralisasi yang mana meletakkan anda dalam kategori lain, jauh daripada perspektif pihak penyelia kerana itu bukan di bawah bidang kuasa kami.”  Sementara itu, pada awal Ogos, Gensler didapati telah mengenalpasti tujuh perubahan terhadap polisi berkaitan kripto dan ia masih di dalam penelitian SEC.  Antara fokus yang terlibat termasuklah penawaran token, DeFi, stablecoins, dana dagangan bursa (ETF) berkaitan kripto, dan hak perlindungan.

2021-08-20Deep Dive

23 and counting: VanEck and ProShares file for ETH futures ETFs

The latest two filings bring the total number of ETF applications this year to 23.  Two more Ethereum-based exchange-traded funds have been filed this week bringing the total to 23 crypto ETF filings so far in 2021.  VanEck and ProShares are the latest two firms to reveal plans for institutional products focused on Ethereum. According to filings with the U.S. Securities and Exchange Commission on Aug. 18, VanEck is seeking to launch an “Ethereum Strategy ETF”, while ProShares is calling its proposed product the “Ether Strategy ETF”.  Both ETFs aim to provide exposure to Ethereum by investing in ETH futures contracts in addition to pooled investment vehicles and other exchange-traded products that have ETH exposure. The funds will not be buying Ethereum directly according to the documents.  Both firms have already filed for Bitcoin ETFs however the SEC is still dragging its feet and is yet to approve any. Earlier this month, Kryptoin filed for an ‘Ethereum ETF Trust’ marking the 21st application in 2021, and the latest two bring that total up to 23.  Speaking to Blockworks, president of the ETF Store, Nate Geraci, said, “Given the most recent messaging from the SEC … it seems highly likely a Bitcoin futures ETF will be

2021-08-20Deep Dive

‘XRP Adalah Sekuriti’

Bekas pengarah kewangan korporat SEC, William Hinman dalam keterangan terbaru mendedahkan XRP merupakan sekuriti yang tidak berdaftar.  Sebagai rekod, Hinman pernah mengisytiharkan Bitcoin (BTC) dan Ethereum (ETH) sebagai bukan sekuriti.  Susulan daripada itu, Hinman juga menjelaskan pernah memberi amaran kepada Ripple untuk menghentikan serta-merta penjualan koin tersebut:  “Yang paling saya ingat ialah ketika XRP dan seseorang yang memiliki jawatan ini sebelum saya, termasuk pegawai penguatkuasa berminat untuk menyusun semula supaya ia mengikut undang-undang. Dan perkara pertama saya katakan ketika itu ialah; anda berterusan menawarkan XRP tanpa sekatan yang bermakna sebagai sebuah penawaran sekuriti. Jika anda ingin mematuhi undang-undang, anda perlu berhenti dan mereka akan faham.”  Keterangan daripada Hinman memberi tamparan kepada Ripple, lagi-lagi firma itu sendiri yang menuntut kebenaran daripada pihak mahkamah untuk membawa individu tersebut memberi penjelasan.  Pada masa yang sama, SEC telah mengusulkan hakim Sarah Netburn untuk meluluskan perlindungan terhadap log khas mereka dengan alasan ia mengandungi maklumat terperinci seperti isu dan waktu yang berkaitan komunikasi antara beberapa pegawai SEC.  Apa yang dibimbangkan SEC ialah jika ada pihak mahu mengeksploitasinya dengan tujuan yang salah.  Agensi penyelia itu turut meminta keterangan Hinman diredaksi atau diteliti secara menyeluruh memandangkan terdapat aspek yang perlu dititikberatkan iaitu informasi dan identiti pihak ketiga iaitu bekas dan klien semasa Hinman, termasuk

2021-08-20Deep Dive

Ziliqa Lancarkan Projek Blockchain Terbaharu

Program tersebut memfokuskan kepada mewujudkan projek berkemampuan blockchain daripada konsep kepada pengkomersialan.  Seperti yang Timbalan Presiden Pertumbuhan Ekosistem Ziliqa, Han Wen Chua dedahkan, “Kemajuan startups telah mengundang idea kepada kes penggunaan dunia sebenar terhadap blockchain. Ia merupakan pengesahan usaha kami mengembangkan peranan Singapura dalam ekosistem fintech global.”  Dilaporkan sebanyak 6 daripada 8 startups yang diterima program ini bagi 2021 telah mara daripada program Inkubator yang bermula pada Mac.  Inkubator ZILHive yang berlangsung selama 14 minggu menggabungkan peserta teknikal dan bukan teknikal ke dalam beberapa kumpulan yang memfokuskan kepada rekaan dan pembinaan penyelesaian unik terhadap protokol blockchain Ziliqa.  Startups tersebut termasuklah:  Access: Startup yang memfokuskan kepada menangani isu penipuan dan ticket scalpingdengan melancarkan tiket sebagai non-fungible token (NFT)  Cerchia: Startup pengeluar peralatan berasaskan blockchain yang membantu pelabur, pengeluar bon, dan syarikat insurans meramal dan menanggung risiko.  Green Beanz: Projek yang membantu syarikat dan NGO menaiktaraf ketelusan dan ketetapan tanggungjawab sosial korporat, dan matlamat pembangunan lestari.  HeyAlfie: Dashboard pintar yang tersedia untuk pengguna mengurus, melabur dan meminjam aset digital melalui single interface dengan menghubungkan berbagai jenis wallet.  Invopay: Platform yang direka untuk membantu perniagaan sederhana kecil (SME) untuk pengurusan aliran tunai yang lebih baik dengan jaminan pinjaman faedah rendah di blockchain.  MustPoll: Sebuah protokol yang mana simpanan deposit terjamin selamat dan ganjaran

2021-08-20Deep Dive

WWE Umumkan Token NFT John Cena!

Lelongan NFT ini akan dijalankan pada dua peringkat iaitu peringkat platinium dan peringkat emas. WWE telah bekerjasama dengan Bitski untuk pelancaran NFT yang akan datang. Walau bagaimanapun, koleksi token akan tersedia di kedua platform, Bitski dan WWE.com/NFT.  Lelong peringkat platinum akan disiarkan hanya selama 24 jam. Lelong akan berlangsung pada awal SmackDown pada hari Jumaat ini, 20 Ogos jam 8 malam ET sehingga 21 Ogos jam 8 malam ET.  Lelong peringkat platinum akan merangkumi NFT eksklusif. Pemenang lelongan platinium akan menerima token NFT John Cena, tiket untuk dua orang, ke WrestleMania 38 pada tahun 2022 di AT&T Stadium di Dallas atau WrestleMania 39 pada tahun 2023 di SoFi Stadium di Los Angeles.  Ini termasuk dua tiket barisan hadapan, akses VIP yang belum pernah ditawarkan sebelum ini, dan penginapan hotel. Pemenang lelong juga akan menerima tali pinggang WWE Championship dengan nama pemenang yang terukir.  Lelong peringkat emas akan dilancarkan setelah penjualan platinum ditutup. Ia akan berlangsung sekitar SummerSlam pada hari Sabtu, 21 Ogos ini. Koleksi peringkat emas akan menggabungkan 500 NFT edisi terhad, disertai dengan kotak barang edisi terhad yang diuruskan oleh John Cena sendiri.  Tahun 2021 telah menjadikan NFT menjadi fenomena dalam artis, penyanyi,pekarya dan penggiat seni dengan melancarkan dan melelong digital edisi terhad untuk

2021-08-20Deep Dive

Binance US CEO Quit Amid Battle Over Independence From Changpeng Zhao: Reports

In brief  Binance US CEO Brian Brooks resigned early this month.  New reports say his departure was tied to Binances refusal to relinquish control of the American operation.  Brian Brooks is one of the most prominent figures in crypto so his abrupt departure early this month as the head of Binances U.S. operation—a post he held for just three months—set off a wave of speculation about what happened.  Now, the picture is becoming clearer as investigations published Thursday in New York and the New York Times suggest he was ousted by Binance founder Changpeng Zhao (who goes by CZ) amid a conflict over how to navigate regulatory controversies and the American subsidiarys ties to the parent company.  Brooks rose to prominence as Coinbases top lawyer and for his crypto-friendly policies while running the Office of the Comptroller of the Currency, an independent office within the Treasury Department that oversees banking regulations. He joined Binance in early May with the expectation that his experience in Washington, DC, would help confer legitimacy on the companys U.S. operations as it sought to expand its footprint in the country.  According to the reports, Brooks sought to implement a multi-pronged strategy that revolved around putting distance between Binance and Binance

2021-08-20Deep Dive

23 and counting: VanEck and ProShares file for ETH futures ETFs

Two more Ethereum-based exchange-traded funds have been filed this week bringing the total to 23 crypto ETF filings so far in 2021.  VanEck and ProShares are the latest two firms to reveal plans for institutional products focused on Ethereum. According to filings with the U.S. Securities and Exchange Commission on Aug. 18, VanEck is seeking to launch an “Ethereum Strategy ETF”, while ProShares is calling its proposed product the “Ether Strategy ETF”.  Both ETFs aim to provide exposure to Ethereum by investing in ETH futures contracts in addition to pooled investment vehicles and other exchange-traded products that have ETH exposure. The funds will not be buying Ethereum directly according to the documents.  Both firms have already filed for Bitcoin ETFs however the SEC is still dragging its feet and is yet to approve any. Earlier this month, Kryptoin filed for an ‘Ethereum ETF Trust’ marking the 21st application in 2021, and the latest two bring that total up to 23.  Speaking to Blockworks, president of the ETF Store, Nate Geraci, said, “Given the most recent messaging from the SEC … it seems highly likely a Bitcoin futures ETF will be approved before an Ether futures product,” before adding:  “Its not unreasonable to think a Bitcoin

2021-08-20Deep Dive

Ethereum’s Vitalik Buterin isn’t sold on Dorsey’s Bitcoin plans

Vitalik Buterin, a co-founder of Ethereum, in a recent interview has revealed his doubts about the plans Jack Dorsey and Mark Zuckerberg might be making about the crypto industry, as per a report on Bloomberg today.  Dorsey and Zuckerbergs crypto dream  Dorsey, CEO of Square, recently revealed his plan for the leading digital asset, Bitcoin, saying that Square would be creating a new business unit, TBD which would be focused on building an open developer platform that would make financial services more decentralized, permissionless, and non-custodial on Bitcoin.  Not only that, the Twitter founder also revealed that Square would also be working towards building a hardware wallet and service that would drive Bitcoin custodial services more mainstream.  All of this adventure, coupled with his outspoken support for the flagship asset has led to some calling him the “face of Bitcoin”  On the other hand, Facebooks CEO, Mark Zuckerberg, recently revealed that the future of the social media giant could lie in the metaverse sphere.  At the same time, the maverick is also backing a crypto asset, Diem, which has drawn some level of criticisms and concerns from regulators around the world.   Buterin skeptic about Dorsey and Zuckerberg  The Ethereum founder during the interview with Bloomberg TV noted

2021-08-20Deep Dive

Coinbase Unveils MicroStrategy-Style Cryptocurrency Investment Policy

Coinbase, the top cryptocurrency exchange in the U.S., has announced that its going to put a whopping $500 million worth of cash and cash equivalents into a diverse basket of cryptocurrency assets.  In its blog post, the company specifies that it intends to invest in Ethereum, Bitcoin, proof-of-stake cryptocurrencies and tokens from the decentralized finance ecosystem.  Apart from the aforementioned $500 million, the exchange will be allocating 10 percent of its net earnings.  Considering that the company reported a net income of $1.61 billion in the second quarter of 2021, the company could potentially hold billions of dollars worth of crypto on its balance sheet within the next several years.  In its S-1 filing, which was made public in February, Coinbase revealed that it owned $316.1 million worth of crypto as of Dec. 31.  Bitcoin accounted for 63 percent of the aforementioned sum ($230 million).  While Ethereum only had an 8 percent share on Coinbases balance sheet, this might change in the coming future given that the largest altcoin surpassed Bitcoin in terms of trading volume on the exchange for the first time in the second quarter.  According to his recent tweet, Coinbase CEO Brian Armstrong is hopeful that the exchange will be able to operate more

2021-08-20Deep Dive

Here’s How the Digital Yuan Could Revolutionize China’s Financial Markets

According to Moodys analysts, Digital renminbi may help commercial banks to transform their businesses. e-CNY looks set to compete with mainstream platforms like WeChat Pay and Alipay.  Disrupting the Dominance  Alipay and WeChat are the two leading payment systems in China with a 90% market share. They are used via mobile phones, and it is estimated that about 2 trillion yuan were made in payments through both systems in 2020.  According to the projection relayed by e-CNY, Digital Yuan may strengthen the banks status among several payments systems. It could improve its data gathering and widen its user base.  The digital yuan is similar to the standard Chinese currency but placed on a blockchain. However, while traders may find the digital yuan‘s ’zero fee‘ characteristic appealing, many Chinese consumers who have already abandoned physical wallets have shrugged with insignificance. It stays as if the Chinese central bank’s introduction of the digital yuan will be seamless.  Financial Inclusion  According to Hampton Group CEO Andrew Methven, , digital yuan‘s development is forecasted to increase China’s central bank foothold in and consequently control of China‘s online payments ecosystem. Hampton Group is an advisory and insights organization on China’s issues and cross-cultural communication.  China developing its digital currency would enable the

2021-08-20Deep Dive
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