Evening News ｜Hong Kong issues virtual asset policy declaration; stablecoin HUSD has depegged to 0.3108 USD
Binance will list Hashflow (HFT) on November 7 at 21:00.Organizer: Nianqing, ChainCatcher
"What important events have occurred in the past 24 hours?"
1. Hong Kong issues virtual asset policy declaration, studying experimental plans for digital HKD and more
The Hong Kong SAR government has issued a policy declaration regarding the development of virtual assets in Hong Kong, clarifying the government's policy stance and guidelines for developing a vibrant virtual asset industry and ecosystem. The policy declaration covers the following aspects:
Vision and Guidelines: Hong Kong is an international financial center that maintains an open and inclusive attitude towards global innovators engaged in virtual asset business. Hong Kong will timely establish necessary regulations to mitigate actual and potential risks according to international standards, allowing virtual asset innovation to thrive sustainably in Hong Kong.
Regulation: The Hong Kong Securities and Futures Commission will conduct a public consultation on the appropriate extent to which retail investors can buy and sell virtual assets under the new licensing system. The government is welcoming towards the potential introduction of virtual asset exchange-traded funds (ETFs) in Hong Kong. The government is open to reviewing the legality of tokenized asset ownership and smart contracts in the future to facilitate their development in Hong Kong. The Hong Kong Monetary Authority will later release the consultation results and next steps regarding the regulatory framework for stablecoins.
Experimental Plans: The government and regulatory bodies are studying the launch of the following experimental plans to test the technological benefits brought by virtual assets and to further apply the relevant technologies in financial markets. These experimental plans include issuing non-fungible tokens (NFTs) for the 2022 Hong Kong FinTech Week, green bond tokenization, and digital HKD.
Outlook: The Hong Kong government sincerely invites the global virtual asset industry to cooperate with Hong Kong, leveraging its status as an international financial center, adhering to the best international standards and practices, and unleashing the potential for financial innovation in a clear, flexible, and convenient regulatory environment. (Source link)
2. SBF may cash out up to $100 million from Musk's acquisition of Twitter
According to The Block, FTX founder and CEO Sam Bankman-Fried (SBF) had planned to participate in Musk's acquisition of Twitter but ultimately did not invest. Before Musk completed the acquisition, SBF held shares in Twitter worth between $50 million and $100 million. Musk paid $44 billion to take Twitter private, meaning SBF held a stake of 0.1% to 0.2%.
It is reported that SBF's advisor Will MacAskill attempted to arrange a meeting between SBF and Musk, stating that SBF was willing to commit $5 billion to help acquire Twitter, but Musk seemed less interested in the deal. (The Block)
3. PBOC Governor: The central bank is cooperating with the HKMA and other monetary authorities on CBDC
On October 31, the official website of the People's Bank of China published a speech by Governor Yi Gang at the "2022 Hong Kong FinTech Week" event. Yi Gang stated that in designing the digital RMB, we protect personal privacy while maintaining financial security through a "two-tier operation" and "controllable anonymity."
Currently, the People's Bank is cooperating with the Hong Kong Monetary Authority and other monetary authorities on CBDC. It is hoped that such cooperation can better serve the needs of international and domestic markets and help consolidate Hong Kong's status as an international financial center. Looking ahead, we are willing to strengthen cooperation with various monetary authorities and international institutions on CBDC. (Source link)
4. Binance to launch Hashflow (HFT) on November 7 at 21:00
According to official news, Binance announced the launch of its 31st Launchpool project, Hashflow (HFT). Users can stake BNB and BUSD to earn HFT, with staking starting at 8:00 AM Beijing time on November 1.
Additionally, Binance will list HFT in the innovation zone at 21:00 Beijing time on November 7, opening trading pairs HFT/BTC, HFT/BUSD, and HFT/USDT. (Source link)
5. Twitter states Musk is the sole director
Twitter announced that Musk has become the sole director, with Bret Taylor and Parag Agrawal no longer serving as company directors. Twitter will fully repay all outstanding debts and began cash redemption of 3.875% senior notes due in 2027 and 5.000% senior notes due in 2030 starting October 28. (Caixin)
6. Data: Stablecoin HUSD has depegged to $0.3108
According to Coinmarketcap data, the stablecoin HUSD issued by Stable Universal Limited has depegged to $0.3108. It is reported that since Huobi Global announced the delisting of HUSD and converted users' HUSD into USDT on October 28, HUSD began to experience depegging, and the extent of the depegging has gradually increased. (Source link)
"What excellent articles are worth reading in the past 24 hours?"
1. "Full text: Policy declaration on the development of virtual assets in Hong Kong"
On October 31, the Hong Kong Financial Secretary (Financial Services and the Treasury Bureau) officially released the "Policy Declaration on the Development of Virtual Assets in Hong Kong," clarifying the government's policy stance and guidelines for developing a thriving virtual asset industry and ecosystem in Hong Kong.
The declaration states that while intensifying preparations for the new licensing system for virtual asset service providers, it is also willing to connect with the global virtual asset industry and invite relevant exchanges to explore opportunities in Hong Kong. The Securities and Futures Commission will conduct a public consultation on the appropriate extent to which retail investors can buy and sell virtual assets under the new licensing system. The government is welcoming towards the potential introduction of virtual asset exchange-traded funds (ETFs) in Hong Kong. The government is open to reviewing the legality of tokenized asset ownership and smart contracts in the future to facilitate their development in Hong Kong. This article is the full text of the declaration.
2. "A quick overview of the username auction platform Fragment launched by Telegram"
On October 28, Telegram founder Pavel Durov announced on the app that, as previously promised, the feature to purchase Telegram usernames on the dedicated platform Fragment has been launched, and the username auction has begun. Additionally, the feature to sell existing usernames on Fragment will be launched in a few days.
The launch of the username auction on Telegram signifies that the power and assets of social media platforms have begun to shift into the hands of users. This is a beginning and an important milestone. As Pavel Durov stated, this is the first time in social media history that a fair and transparent username market has been established, where people will own their social media addresses, protected in an immutable ledger on a decentralized blockchain network. This article will explain the mechanisms, processes, and current development of the TON public chain related to the Telegram dedicated auction platform Fragment.
3. "Sun Yuchen saves 'fire': Marketing first, secretly advancing"
Sun Yuchen has been "employed" at Huobi for twenty-four days. The Huobi Global platform token HT has risen from $4.4 to a peak of $9.5, and on the surface, Sun Yuchen's efforts to save "fire" can be seen as a phased success.
In the past half month, Sun Yuchen has been diligently "working" for Huobi every day, once again showcasing his marketing genius that "makes PR speechless," from his onboarding essay, bringing in "crypto circle Spring Festival Gala" host Liang Xi, to weekly airdrops for HT holders. Although Sun Yuchen has yet to acknowledge his identity as the acquirer, the posture and results are evident, making the identity irrelevant.
It's easy to shout slogans, but the problems and challenges facing Huobi remain severe, with issues such as globalization obstacles, internal management chaos, and slow compliance. Can the marketing-savvy Sun Yuchen resolve the long-standing issues at Huobi? With this question in mind, ChainCatcher interviewed multiple insiders from both inside and outside Huobi, attempting to delve into the reasons behind Huobi's predicament from various perspectives and present the changes Sun Yuchen brings to Huobi.
