ChainCatcher news, according to official sources, the blockchain and tokenization infrastructure platform Paxos has announced that it has agreed to acquire the Finnish licensed electronic money institution Membrane Finance. The transaction is subject to regulatory approval, and upon completion, Paxos will obtain an electronic money institution (EMI) license in Finland and the European Union.Paxos' strategic officer Walter Hessert stated that this acquisition will help Paxos launch asset and tokenization solutions compliant with the MiCA (Markets in Crypto-Assets) regulations in the EU market. Currently, Paxos has issued several regulated digital assets, including PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG).

ChainCatcher News, U.S. Deputy Treasury Secretary Nellie Liang delivered a speech advocating for the inclusion of non-bank payment providers, including money transfer companies, electronic money companies, and stablecoin issuers, under federal regulation rather than the current state-level regulation. She emphasized that the changes in the digital payment environment mean that the existing state regulatory model is no longer applicable.Liang pointed out that with the proliferation of electronic applications, money transfer companies need to manage a large amount of cash, especially in the stablecoin sector, but the legal differences in state investment laws create regulatory complexities. She criticized the existing patchwork regulatory system, arguing that it is burdensome and inefficient, failing to effectively address risks. State-level regulation prevents these companies from accessing federal payment systems, such as FedACH and FedNow. She called on Congress to establish a unified regulatory framework to better address the unique risks posed by stablecoins.

ChainCatcher news, as one of the most anticipated events during Devcon 2024 (November 6-16, 2024, in Bangkok), the WEB3 Elephant Beat Best Electronic Music Festival will be held on November 13, 2024, at 22:00 at Bangkok's top bar, Route 66.This electronic music festival has specially invited heavyweight guests from the global blockchain field, including Ethereum co-founder Vitalik Buterin, XRP CEO Brad Garlinghouse, Aleo CTO Zack Xuereb, Worldcoin CFO Alex Blania, Optimism co-founder Mark Tyneway, and CoinDesk Advisory Board Chair Michael Casey, among other notable figures. Meanwhile, the festival will feature world-class DJs to bring an ultimate electronic music atmosphere to the venue.The WEB3 Elephant Beat Best Electronic Music Festival is not only a grand celebration for the crypto and Web3 community but will also launch rich interactive sessions, on-chain experiences, and lottery games. Currently, nearly 3000+ people have registered for the event, including well-known projects such as Coinbase, DWF Labs, Polkadot, CELO, Algo, Chainlink, 1inch, Aylab, and leading communities. The final number of registrants is expected to exceed 10,000+, including over 1,000+ projects, 200+ VC investment institutions, and hundreds of Web3 KOLs and local influencers from Thailand, with a total fan coverage of over 10 million. It will become one of the top three heavyweight events during Devcon.Through this event, sponsors can not only enhance brand awareness but also engage deeply with industry leaders and explore future collaboration opportunities.Event Details:• Date: November 13, 2024• Location: Route 66 Bar, Bangkok• Key Guests: Vitalik Buterin, Brad Garlinghouse, Zack Xuereb, etc.• Expected Participants: 10,000+

ChainCatcher News: The newly established electronic fraud investigation unit of the Ohio Bureau of Criminal Investigation has recovered $130,000 from a cryptocurrency scam, marking its first victory. The unit was created to address the increasingly complex cyber financial crimes, particularly those involving cryptocurrency.

According to ChainCatcher, Tiger Research reported that the Ministry of Electronics and Information Technology (MeitY) of India announced the National Blockchain Framework (NBF) on September 4.India's National Blockchain Framework adopts a different approach compared to existing public blockchains. It uses a permissioned blockchain instead of public blockchains like Bitcoin or Ethereum. In this model, only authorized participants can validate transactions, making it more suitable for government services. This is because the protection and control of personal information have been strengthened.The key keywords of the announced National Blockchain Framework are security, transparency, and increased trust. By establishing a blockchain infrastructure that will become the foundation of national systems, companies can develop blockchain solutions suitable for the public sector.

ChainCatcher News, the China Securities Association announced today: According to the relevant provisions of the "Regulations on the Management of Group Standards" and the "Working Norms for Group Standards of the China Securities Association (Trial)", after the review and approval of the eighth meeting of the seventh Standing Council of the Association, the "Application Specification for Blockchain Electronic Data Storage in the Securities Industry" (No.: T/SAC004---2024) is included as a group standard of the China Securities Association. It is now announced and will be implemented from the date of publication. (Jin Ten)

According to ChainCatcher news, the Hong Kong-listed company Coolpad Group announced that it has entered into a procurement contract in June 2024 to purchase equipment, with a total price of $13,583,700 (equivalent to approximately HKD 106,089,000). The subject matter involves 2,700 electronic computing servers for cryptocurrency mining.Coolpad Group stated that its existing computing power is 873,000 TH/S, and after the completion of the procurement contract transaction, the computing power will increase to 1,504,800 TH/S. Coolpad Group mentioned that considering the atmosphere, market trends, and prospects of blockchain technology and cryptocurrency, the board believes that cryptocurrency mining is an attractive business that can enhance profitability in the long term.

ChainCatcher news, according to financefeeds, cryptocurrency custody and trading company Bakkt will launch a crypto-exclusive electronic communication network (ECN) powered by Crossover Markets, designed to meet institutional needs.It is reported that BakktX will be supported by Crossover's high-performance technology, providing institutional and professional traders with matching latencies of less than 10 microseconds, customizable liquidity flows, and trading costs significantly lower than those of existing cryptocurrency brokers and trading platforms.

ChainCatcher news, the zero-knowledge general proof aggregator Electron has announced the completion of a $1 million seed round financing, with investors including Polygon co-founder Sandeep Nailwal, Gnosis co-founder Martin Köppelmann, Jaynti Kanani (previous co-founder of Polygon), and Avail co-founder Anurag Arjun, as well as LambdaClass, Zephyrus Capital, Blue7, Interop, Router Protocol, and others.Electron stated that the funding will be used to build a general ZK proof aggregation layer for Ethereum.According to the Web3 asset data platform RootData, [Electron Labs](https://www.rootdata.com/zh/Projects/detail/Electron Labs?k=MjA3MQ== "Bringing on-chain privacy to dApps and users") is a closed cross-chain messaging protocol for L1. It uses light clients and zero-knowledge proofs to maintain decentralization.

ChainCatcher news, according to CoinDesk, the crypto service company BCB Group has obtained a digital asset and electronic money license in France.BCB stated that France's clear rules for responsible innovation in fintech and digital assets, along with a vibrant banking and financial services ecosystem, are the reasons the company chose the country as its European regulatory base. The authorization from French regulators will enable BCB to expand its institutional product offerings in Europe and further allow the company to collaborate with virtual asset service providers (VASP), TradFi institutions, and other market participants.

ChainCatcher news, according to Caixin, Huafeng Superfiber stated on the interactive platform that Weifutong Technology, as the technical support service provider for blockchain electronic invoices, successfully assisted Walmart in launching blockchain electronic invoices.

ChainCatcher news, according to the announcement from Huobi HTX, Huobi HTX will support the mainnet upgrade of the Electroneum (ETN) project. Huobi HTX will suspend the deposit and withdrawal services of ETN tokens on March 4, 2024, at 23:00:00 (GMT+8), and will reopen the deposit and withdrawal services of ETN tokens after the mainnet upgrade.It is reported that Electroneum (ETN) will undergo a mainnet upgrade at block height 1811310. During the mainnet upgrade, the relevant trading services of the above tokens will not be affected, and this mainnet upgrade will not generate new tokens.

ChainCatcher news, the cryptocurrency exchange Crypto.com has announced that it has been authorized by the UK's Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI).Previously, Crypto.com registered with the FCA for cryptocurrency asset activities in August 2022. After obtaining EMI authorization, Crypto.com will offer a suite of localized electronic money products in the UK.

ChainCatcher news, according to CoinDesk, the Indian Ministry of Electronics and Information Technology revealed on Wednesday that it hopes to enable users to digitally sign documents using cryptocurrency tokens in a new local web browser.As part of the launch of the Indian Web Browser Development Challenge (IWBDC), the announcement stated: "The browser envisions the ability to digitally sign documents using cryptocurrency tokens, thereby enhancing secure transactions and digital interactions." Among the expected features of the browser, the government has proposed a requirement to "support Web3."

ChainCatcher news, the Spanish bank (the country's central bank) has approved eToro to register as a service provider for virtual currency exchange for fiat currency and electronic wallet custody services.

ChainCatcher news, LG Electronics and Hashed withdraw from the Klaytn blockchain governance council. LG Electronics exited after the contract expired in March and decided not to renew. Hashed stated that the withdrawal from the council is an internal strategic change. (source link)