China can introduce licenses for crypto companies

China can introduce licenses for crypto companies
The Banking Regulatory Commission of China (CBRC) has advocated the introduction of licensing for cryptocurrency activities. The agency"s statement says that any capital transactions related to the blockchain, cryptocurrencies, derivatives, and ICO should be considered as financial services.

WHY IT IS IMPORTANT

In May, the Chinese government set the task of becoming a leader in the field of implementing blockchain into the real economy. The development of distributed registry technology was first supported by the country"s leader Xi ...
Read more about "China can introduce licenses for crypto companies" on coinatory.com

Comments

Post a Comment

Popular posts from this blog

Polygon Labs Secures ISO 27001 Certification, Enhancing Blockchain Security Standards

Image
Polygon Labs has successfully obtained the ISO 27001 certification, a prestigious global standard for information security management systems (ISMS), according to a recent announcement on their official blog. The certification process was rigorously conducted by Schellman Compliance, which confirmed Polygon Labs' compliance with the stringent requirements of the ISO standards. ISO 27001 is internationally recognized and outlines comprehensive requirements for establishing, implementing, maintaining, and continually improving an ISMS. This framework assists organizations in managing and protecting their information assets so that they remain safe and secure, ensuring the confidentiality, integrity, and availability of critical data. By acquiring the ISO 27001 certification, Polygon Labs demonstrates a steadfast dedication to the Read more about Polygon Labs Secures ISO 27001 Certification, Enhancing Blockchain Security Standards #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptone
Read more

$500K worth of stETH redeemed in 3 hours as Lido enables withdrawals

Image
According to data from Parsec Finance on May 15th, the Lido liquid-staking protocol enabled its users to withdraw Ether for the first time. This was made possible through an upgrade to version two, which was approved by the Lido decentralized autonomous organization. Before the upgrade, users were unable to withdraw their ETH because of the lack of a withdrawal function. After the upgrade, users were able to redeem their stETH for its underlying ETH, resulting in over $500,000 worth of ETH being withdrawn in the first three hours. Liquid staking has become increasingly popular since the Shapella upgrade, and on May 1st, it became the top decentralized finance category in terms of total value-locked, surpassing decentralized exchanges. However, there are still legal uncertainties surrounding liquid staking in the United States, Read more about $500K worth of stETH redeemed in 3 hours as Lido enables withdrawals #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonews
Read more

Regulatory Challenges for Web3 in Nigeria Amidst Binance Crackdown

Image
In recent developments, the Nigerian Web3 industry faces heightened uncertainty following severe regulatory actions against key Binance executives. This crackdown is causing a significant retreat among investors from the nation’s blockchain initiatives, revealing deep concerns over the operational safety and regulatory environment within the country. Lucky Uwakwe, Chairman of Nigeria's Blockchain Industry Coordinating Committee (BICCoN), shared insights in a detailed interview with Cointelegraph about the prevailing investor sentiment. The narrative that has been unfolding is worrisome for stakeholders within the digital asset space. Notably, the backlash from the government's stringent stance on Binance, a leading global cryptocurrency exchange, has not only stifled current investment flows but is also subtly coercing existing i Read more about Regulatory Challenges for Web3 in Nigeria Amidst Binance Crackdown #Binance, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #C
Read more