Indonesian regulator extends registration deadline for crypto traders to the end of November 2024
The Commodity Futures Trading Regulatory Agency (Bappebti) of Indonesia has issued new regulations, extending the registration deadline for cryptocurrency traders to the end of November 2024, to give existing "Candidate Crypto Asset Physical Traders" (CPFAK) more time to complete all the requirements to become official "Crypto Asset Physical Traders" (PFAK).
According to Jinshi News, the Australian Securities and Investments Commission (ASIC) has accused James Cumming, the former CEO of the cryptocurrency exchange Mine Digital, of fraudulent behavior.
BIS report emphasizes the risks of the transition from traditional finance to tokenization
According to The Block, the Bank for International Settlements (BIS) released a report on Monday titled "Tokenization in Monetary and Other Assets: Concepts and Implications for Central Banks", exploring how tokenization is reshaping the financial landscape and impacting the role of central banks. The report emphasizes that tokenization can bring significant benefits, such as reducing transaction costs and increasing transaction speed, which has attracted the interest of institutional investors; however, these advantages also come with inherent risks and challenges.
The report identifies several risks associated with tokenization, including potential governance and legal framework issues, as well as credit, liquidity, custody, and operational risks. These challenges may differ from the challenges faced by traditional market infrastructure, and therefore require comprehensive assessment by central banks. The report states: "Central banks need to assess the trade-offs and appropriate balance between different types of settlement assets in token arrangements, identify, monitor and assess token arrangements that may require sound regulation and oversight."
The BIS report highlights the potential impact of token arrangements on the implementation of monetary policy, particularly on changes in the regulated market structure and the impact on the central bank's demand relative to other forms of money. This evolving situation may affect the future operations of central banks. Agustín Carstens, General Manager of the BIS, noted that while tokenization can improve the safety and efficiency of the financial system, it also brings economic, legal, and technological challenges that must be addressed. The report points out that the legal risks of tokenization may arise from unexpected or uncertain application of the law.
According to on-chain detective ZachXBT, the cryptocurrency payment service provider Transak recently suffered a ransomware attack. In an earlier blog post, Transak stated that this incident only affected a small portion of users (1.14% of the user base), involving their names and basic identity information, while the ransomware group claimed to have obtained personal identification information (PII) and data from more users. According to Transak's website, it has been integrated with Metamask, Trust Wallet, Coinbase, Ledger, and others as a fiat-to-crypto on-ramp and off-ramp.
According to Bloomberg, Qian Zhimin, the main suspect in the UK's 60,000 Bitcoin money laundering case and the 43 billion yuan illegal fundraising case in Tianjin Lantian Gerei, was arrested in April this year and charged with two counts of money laundering. The UK Crown Prosecution Service accused her of possessing and transferring illegal cryptocurrencies on or before April 23. A man named Seng Hok Ling was also charged with her, and he pleaded not guilty to a charge of participating in money laundering arrangements while knowing or suspecting the property was criminal. The trial is scheduled to begin on September 29, 2025 at Southwark Crown Court. "Her lawyer said after the hearing: 'Ms. Zhang denies all criminal charges and plans to defend herself vigorously.'"
Sky founder proposes to retain the Maker brand, but with a series of transformations
Rune Christensen, the founder of Sky (formerly MakerDAO), posted on the X platform stating that two weeks after the launch of USDS, the total supply has exceeded 1 billion; most of the demand for USDS comes from new users, while the supply of Dai has stabilized at 4.7 billion; since the launch of USDS, the total inflow to the USDS and Dai systems has increased by about 700 million. Furthermore, Christensen said that in addition to renaming 1 MKR to 24,000 SKY, many people are confused about the use of the Sky token and have raised questions about the introduction of the token issuance. Moreover, naming the protocol, token, and front-end all as Sky has undoubtedly added some confusion. Now more than ever, it is clear that the DeFi community has a deep affection and trust for the Maker brand. Many people have a strong identification with the brand and what it represents - stability, security, and the scale of DeFi, and many are willing to hold the MKR token rather than upgrade to Sky. In response to community feedback, Christensen has proposed a series of governance proposals regarding the fate of the Maker brand, the MKR token economy, and the role of Sky.
The Grass Foundation has announced the Airdrop One airdrop plan and opened the airdrop eligibility query. This airdrop will distribute 100 million GRASS tokens, which is 10% of the total supply. The specific distribution is as follows: 9% will be distributed to users who obtained Grass Points in the first phase network snapshot, 0.5% will be distributed to GigaBuds NFT holders, and another 0.5% will be distributed to users who installed the desktop node or Saga app. The network snapshot includes users who obtained more than 500 Grass Points during a specific period. Each eligible GigaBuds NFT holder will receive 515 GRASS.
Crypto custodian Komainu, backed by Nomura Holdings, announces acquisition of Propine
According to Bloomberg, the cryptocurrency custodian Komainu, backed by Nomura Holdings, has announced the acquisition of its Singaporean competitor Propine Holdings Pte Ltd, which is its first acquisition transaction. The acquisition is subject to approval from the Monetary Authority of Singapore, and Komainu's co-CEO Paul Frost-Smith stated that this is part of the company's expansion strategy in Asia. Through the acquisition, Komainu will obtain a Capital Markets Services license in Singapore, laying the foundation for future development.
In addition, Komainu plans to apply for a major payment institution license in Singapore to provide comprehensive payment services. Komainu also plans to complete a new round of financing in the coming weeks, but did not disclose the specific amount.
The Ethereum Layer2 project Scroll introduced its first Airdrop in an official blog post. The first Airdrop will distribute 7% of the total SCR supply. The snapshot was taken at 8:00 AM UTC on October 19, 2024. The claim will begin at 3:00 PM Beijing time on October 22, 2024 and will be open for 90 days. The claim page is now live. The main contributor categories for the first Airdrop include: Community Airdrop (55 million SCR, 5.5% of total supply), Ecosystem Projects (6.677 million SCR), and Industry Contributors and Global Community.
MetaMask integrates with SPACE ID to simplify crypto transactions and wallet access
According to The Block, MetaMask and SPACE ID have announced an integration partnership aimed at simplifying the sending of digital assets and accessing crypto wallets. According to the statement, this new integration will allow users on MetaMask to "replace all public wallet addresses with a secure and customizable handle when transacting." This means that SPACE ID users can simply enter a simple username to send cryptocurrencies, without having to deal with the 42-character alphanumeric mess, which if entered incorrectly would result in a complete loss of funds.
According to Christian Montoya, the product manager of MetaMask, the integration of SPACE ID will allow "MetaMask users to more easily and securely send and receive cryptocurrencies across any EVM-compatible chain." SPACE ID stated in the announcement that users will now be able to "organize and store handles for multiple chains in a single wallet."
VanEck's Solana ETN in Europe has now enabled staking functionality
According to the official announcement, asset management firm VanEck has announced that its Solana exchange-traded note (ETN) launched in Europe has now enabled staking functionality. The staking method used by VanEck is fully non-custodial, meaning the custodian of the ETN assets always maintains full control of the staked assets, without any lending risk involved. Solana ETN investors do not need to take any action, and if there are any rewards, they will be credited to the token equity of the ETN. Regardless of whether the custodian purchased the ETN last year or last week, the total staking rewards earned during the most recent period will be distributed equally (after deducting a 25% staking fee). VanEck instructs the custodian to stake the physical SOL held in the ETN with validator nodes, which are owned and maintained by staking service providers, but the delegated SOL is always controlled by the custodian.
Ripple co-founder has cumulatively donated over $11.8 million to the Harris campaign team
According to CNBC, the latest election data shows that with two weeks to go until the US election, Ripple co-founder and chairman Chris Larsen donated nearly $9.9 million to Future Forward in September, and also donated over $800,000 to the Harris Victory Fund. Including the $1 million worth of XRP tokens Larsen donated in August, he has now donated over $11.8 million to PACs supporting Harris' campaign, making him one of the largest individual donors from the crypto industry this cycle.
Larsen has supported bipartisan candidates in recent years, and he said in an interview that his trust in Harris stems from his conversations with people within the campaign team, as well as his observations of the vice president since she replaced Biden as the nominee in July.
Tether-backed Northern Data plans to sell its crypto mining division Peak Mining
According to Bloomberg, Northern Data AG is considering selling its cryptocurrency mining business to raise funds to scale up its artificial intelligence business. The company's main shareholder is Tether Holdings Ltd., and in a statement on Monday, it said it will use the proceeds from the sale of Peak Mining to focus on its AI solutions division, with the successful separation of the business unit depending on the "current dynamic market environment" of cryptocurrencies.
Northern Data AG will use the sale proceeds to support its artificial intelligence solutions business, including its generative AI cloud platform that helps companies launch their own AI applications. The company will also invest in the purchase and development of more data centers, as well as additional hardware procurement. According to data compiled by Bloomberg, as of February, Tether held around 46% of the shares in Northern Data AG.
BlackRock's Bitcoin Spot ETF's assets under management have ranked in the top 2% of all ETFs
Bloomberg senior ETF analyst Eric Balchunas posted on social media that BlackRock's Bitcoin spot ETF IBIT performed exceptionally well last week, with $1.1 billion in new inflows, its best single-week performance since March, and surpassing VTI to rank third on the year-to-date fund flow leaderboard (which is incredible for a product that launched later this year, especially with the other top 5 products having over $300 billion in assets and over 20 years of history). IBIT's assets under management are $26 billion, ranking it in the top 2% of all ETFs.
Bitcoin hash rate hits an all-time high, and the network share of listed miners reaches a peak
According to Coindesk, based on Glassnode data, the 7-day moving average of Bitcoin's hash rate has reached a new all-time high of 703 EH/s (currently at 725.20 EH/s, with a peak of 791.62 EH/s), marking the first time the network's hash rate has surpassed 700 EH/s. Since the April halving event, Bitcoin's hash rate has grown by nearly 13%.
Pump.fun fee account sold another 40,000 SOL, worth about $6.68 million, 5 hours ago
According to Lookonchain monitoring, the Pump.fun fee account sold another 40,000 $SOL, worth about $6.68 million, 5 hours ago. As of now, Pump.fun has a total income of 969,945 $SOL (about $162 million), of which 503,343 $SOL (about $78.7 million) have been sold, at an average price of $156.4.
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