Headlines
▌The U.S. SEC may be forced to declare Ethereum a security
An article published by Fortune stated that Prometheum plans to launch an Ethereum custody service, a move that is part of a larger strategy by the crypto company that may result in the SEC being forced to declare Ethereum a security, a position that was Generally unpopular among industry peers. Prometheum claims to be the first and only special purpose crypto broker-dealer licensed under U.S. SEC rules. In December last year, the company announced that it had received SEC approval to clear and settle digital asset securities transactions. Four lawyers and academics with expertise in digital asset regulation agreed. Prometheum’s custody service could lead to an eventual SEC ruling on Ethereum’s legal status, Lowenstein Sandler Vice Chairman of Crypto Business William Brannan said. With the SEC unwilling to take a stance on the matter, Prometheum announced that it will make Ethereum the first asset under its custody. , which will cause "unnecessary controversy."
▌ENS Executive Director: ENS is considering launching its own Layer2
Khori Whittaker, Executive Director of Ethereum Domain Name Service (ENS) revealed that ENS is “vigorously” researching ways to build its protocol on top of the Ethereum Layer 2 network, and may even consider launching its own internal Layer 2. Whittaker revealed that much of the conversation among ENS developers focuses on development based on Optimism. He added that future L2 developments may also consider the use of zero-knowledge proofs, a key component in protecting user information on public blockchains.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC is 44,524 US dollars. Intraday increase or decrease+3.40%;
ETH’s recent transaction price was US$2,430, with intraday changes +2.16%;
BNB’s recent transaction price was US$308.8, with intraday changes +2.14 %;
The recent transaction price of 2.23%;
DOGE’s recent transaction price was US$0.08020, with intraday gains and losses+2.01%;
ADA’s recent transaction price was US$0.5081, with intraday gains and losses+2.01%;
SOL’s recent transaction price was US$108.87, with intraday gains and losses+5.23%.
Policy
▌California Representative Says U.S. Lawmakers are “Very Close” to Agreement on Stablecoin Bill
February 8 news, California Democratic Rep. Maxine Waters said that U.S. lawmakers are “very close” to reaching an agreement on a stable currency bill.
▌Hong Kong Securities and Futures Commission: Beware of suspicious investment products involving "Hong Kong International Financial Center Token"
Hong Kong Securities and Futures Commission The public is reminded to beware of suspicious investment products, related projects and arrangements involving the "Hong Kong International Financial Center Token" (IFCT). Relevant promotional materials claim that the product has been officially approved in Hong Kong, but in fact it is not authorized by the Securities and Futures Commission to be sold to the Hong Kong public.
▌South Korea: Illegal virtual asset transactions will be banned from July, and violation of regulations will result in a maximum sentence of life imprisonment< /strong>The Korean Financial Services Commission stated that before the implementation of the "Virtual Asset User Protection Act" on July 19, it had made a legislative preview of the law and the "Virtual Asset Industry Supervision Regulations" on January 22. According to the executive regulations and regulatory provisions, market manipulation, illegal trading, and trading using undisclosed important information of virtual assets are prohibited. If the regulations are violated, the person may be sentenced to fixed-term imprisonment of not less than one year or a fine of not less than three times but not more than five times of the illegal income, etc. If the amount of illicit benefits exceeds 5 billion won, the maximum penalty is life imprisonment and a fine twice the amount of illicit benefits.
▌Dalian: Prevent illegal fund-raising in the name of "virtual currency", "metaverse", "wealth sharing", etc.< /strong>Dalian Financial Development Bureau issued the "Risk Tips on Preventing Illegal Fund Raising in the Names of "Virtual Currency", "Yuan Universe" and "Wealth Sharing", pointing out that risk prevention awareness and identification capabilities should be enhanced , establish correct investment concepts and guard against losses of personal property.
Blockchain Applications
▌The Ethereum Foundation announced the establishment of the EPF Research Group strong>
According to an official blog post, the Ethereum Foundation announced the establishment of the EPF (Ethereum Protocol Fellowship) research group. EPF is a program designed to lower the entry barrier for developers interested in the core protocol. The EPF Study Group is a 10-week (February 19-April 29) educational series designed to serve as a precursor to the Ethereum EPF (fifth batch coming soon), the EPF Group aims to mentor and cultivate the next generation of Ethereum Core developers and provide insight into Ethereum’s internals.
▌Coinbase report: Blockchain technology could save Americans at least $74 billion in credit card fees
Coinbase in Its latest "Cryptocurrency Status Report" states that blockchain technology can save Americans at least $74 billion in credit card transaction fees, equivalent to an average saving of $600 per household. "At least three-fifths of Americans want to update the system to make it cheaper, faster and easier to use," the report said.
Coinbase believes that blockchain technology not only serves consumers, but also serves enterprises. The report states that merchants spend more than $126 billion on fees for processing credit card transactions, which is the second largest cost after labor. By using blockchain technology, they can pay almost nothing.
Cryptocurrency
▌Cryptocurrency company Bakkt warns that it may not be able to continue operating strong>
Cryptocurrency platform Bakkt issued a warning today that it may not be able to continue operating. The company said in a filing with the U.S. SEC: "We may not be able to continue as a going concern. We believe that our cash and restricted cash will be insufficient to fund our operations for a period of 12 months after the date of the filing."
The company was founded by Intercontinental Exchange, which owns large derivatives exchanges and the New York Stock Exchange. Bakkt went public in 2021. Its shares closed at $1.45 at the close of U.S. markets on Wednesday, down from more than $40 in 2021.
▌Cryptocurrency Broker Prometheum Selects Ethereum as First Custody Product
Cryptocurrency Broker Prometheum It said it is preparing to start SEC-compliant custody of ETH, and will soon add other currencies and start trading operations within a few months.
Prometheum Inc., still the only U.S.-registered crypto securities platform, has revealed that the first digital asset it will handle for clients will be Ethereum.
Important economic developments
▌ Fed Kashkari: At present, it seems appropriate to cut interest rates 2-3 times this year
Federal Reserve Kashkari: If the labor market continues to be strong, we can lower the policy interest rate fairly slowly. At present, it seems that 2-3 interest rate cuts this year are appropriate.
Golden Encyclopedia
▌Grayscale Bitcoin Trust
GBTC is a digital financial instrument designed to provide individuals interested in cryptocurrencies with investment opportunities in the Bitcoin market, eliminating Direct access to underlying assets. Grayscale has played a pioneering role in Bitcoin (BTC) accessibility with the launch of Grayscale Bitcoin Trust (GBTC), marking the creation of this first-of-its-kind Bitcoin fund that investors can access through one familiar investment vehicle BTC.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
JinseFinance
Hui Xin