ChainCatcher news, according to China Business News, HarmonyOS has announced the establishment of an open ecosystem for meta-services, which includes digital renminbi. This means that HarmonyOS users can use the corresponding services without downloading the digital renminbi app, allowing them to make payments with digital renminbi as soon as they get their phones, innovatively achieving a deep integration of legal digital currency functions with the mobile operating system.It is understood that in terms of cooperation with the HarmonyOS system, the next step for digital renminbi will be to strengthen its deep integration with the HarmonyOS system, enrich the application and management functions of the digital renminbi wallet, jointly develop financial middleware, and support interaction with other financial applications, thereby providing safer and more convenient digital renminbi services. At the same time, it will enhance risk monitoring and risk prevention capabilities, using security detection technology to ensure the authenticity and reliability of the mobile operating environment, while protecting user privacy and security, improving the central bank's penetrating regulatory capabilities for digital renminbi, and achieving comprehensive business management and risk prevention. In addition, digital renminbi will help HarmonyOS strengthen its financial service ecosystem, covering more smart IoT devices through the integration of digital renminbi and open-source HarmonyOS.It is understood that through cooperation with HarmonyOS, digital renminbi will form a replicable and promotable model, advancing in-depth cooperation with other domestic mobile phone manufacturers, achieving the embedding of digital renminbi in a componentized form within the underlying operating systems of domestic phones, and building central bank management capabilities that adapt to the open ecosystem of digital renminbi. On this basis, it will continuously improve the cooperation model with mobile phone manufacturers and operating system vendors, creating a collaborative and win-win ecosystem.

ChainCatcher news, financial services company Euroclear has acquired a strategic stake in Singapore blockchain company Marketnode, with the specific acquisition amount undisclosed. Euroclear's investment aims to leverage blockchain to modernize financial market infrastructure, focusing on simplifying fund management and reducing settlement times through distributed ledger technology.Marketnode was founded in 2021 by the Singapore Exchange Group and Temasek, operating two blockchain platforms: Gateway and Fundnode, focusing on tokenization and digital fund management.

ChainCatcher news, the Chief Executive of the Hong Kong Special Administrative Region, John Lee, stated that the government will continue to promote the policy stance and guidelines for innovative financial services applications of central bank digital currency, mobile payments, virtual banks, virtual insurance, and virtual asset trading using artificial intelligence.Measures include: 1. Promoting the application of central bank digital currency for cross-border payments. The Hong Kong Monetary Authority is actively testing and exploring more technological solutions and scenarios related to cross-border trade settlement on various central bank digital currency cross-border networks, and expanding the participation of public and private institutions. 2. Improving the regulation of virtual assets and trading. The Financial Services and the Treasury Bureau will complete the second round of consultation on the regulation of over-the-counter trading of virtual assets and submit a virtual licensing system to regulate virtual asset custodial service providers. 3. Promoting the tokenization of real-world assets and the digital currency ecosystem. The Hong Kong Monetary Authority is promoting the progress of the Ensemble project.

ChainCatcher news, a new South Korean regulatory body will be established this month, with the decision on Bitcoin ETF approvals as a key focus of its agenda. The agency is temporarily named the Virtual Assets Committee and may hold its first meeting "as early as this month."The agency will operate under the jurisdiction of the Financial Services Commission (FSC) of South Korea. Analysts say its establishment will help "accelerate discussions on issues such as the approval of Bitcoin and Ethereum spot ETFs." Industry insiders revealed that the committee will also discuss the issue of "allowing corporate investments in virtual assets."

ChainCatcher news, the Deputy Secretary for Financial Services and the Treasury, Chen Haolian, urged investors to participate in virtual currency trading preferably through licensed exchanges.Chen Haolian stated that the Hong Kong government is working hard to build the entire ecosystem. Currently, the Invest Hong Kong is actively promoting relevant enterprises to expand their business in Hong Kong. The virtual asset ecosystem is not limited to exchanges; it also includes virtual asset exchange-traded funds and central bank digital currencies (CBDC) among other products. The consultation on the regulation of stablecoins has been completed, and preparations for the relevant legislation are underway to submit to the Legislative Council for review.

ChainCatcher news, the chairman of the Financial Services Commission of Korea, Kim Byung-hwan, stated that he will review the monopoly phenomenon in the virtual asset market centered around Upbit. During the national policy inspection by the National Assembly's Administrative Committee, Kim Byung-hwan responded to questions from lawmakers regarding the monopoly structure of Upbit, pointing out that a comprehensive review will be conducted through the Virtual Asset Committee.Lawmakers also questioned the partnership between Upbit and K Bank, stating: "K Bank's total deposits amount to 22 trillion won, of which Upbit's deposits reach 4 trillion won, accounting for as much as 20%. If Upbit's trading is interrupted, K Bank could face a run on the bank."

ChainCatcher news, according to Coinpost, the Financial Services Agency of Japan has issued a statement believing that "unmanaged wallet services" using certification technology do not fall under the category of cryptocurrency trading businesses (managed businesses). This judgment is seen as a way to help alleviate legal uncertainties in the cryptocurrency (virtual currency) industry.An unmanaged wallet is a digital wallet for cryptocurrency assets where users can manage their own private keys. This method of bypassing a central administrator is the foundation of widely adopted services in the industry (such as Metamask and Phantom).This judgment was made through the "Gray Zone Elimination System" based on the Act on Strengthening Industrial Competitiveness. This system aims to promote innovation by clarifying the regulatory applicability in emerging businesses in advance. The relevant procedure was requested by the business minister (in this case, the Ministry of Economy, Trade and Industry) to the regulatory minister (the Financial Services Agency) for confirmation.

ChainCatcher news, according to Cryptonews, the New York Department of Financial Services (NYDFS) is hiring a senior blockchain analyst to address financial crimes in the cryptocurrency industry, including money laundering activities. Applicants must have at least one year of experience in the cryptocurrency industry and be familiar with blockchain analysis and open-source intelligence tools.Additionally, a deep understanding of the Bank Secrecy Act, anti-money laundering (AML) regulations, and related legal frameworks is required. This position is primarily responsible for using blockchain analysis and on-chain attribution to assess the risk of illegal activities for DFS-regulated virtual currency licensees, monitoring dashboards to identify anomalies that may indicate money laundering or sanctions violations, and conducting further investigations and reporting.

ChainCatcher news, according to Cointelegraph, Bitcoin financial services company Fold has submitted an S-4 filing to the U.S. Securities and Exchange Commission in preparation for going public. Fold's treasury currently holds over 1,000 BTC.

ChainCatcher news, Ripple announced that it has received in principle approval for a financial services license from the Dubai Financial Services Authority, unlocking its end-to-end management of payment services in the UAE.

ChainCatcher news, according to the official website, the Japanese Financial Services Agency stated that based on Article 63-16 of the Securities and Exchange Act, the Kanto Local Finance Bureau issued a business improvement order to the cryptocurrency exchange DMM Bitcoin.

ChainCatcher News, the Financial Services Agency of Japan held its first meeting of the Fund Settlement Law Revision Working Group on the 25th, beginning the review of regulations related to the fintech era, including crypto assets and stablecoins. The meeting aims to address the diverse needs brought about by the digitalization of financial services and to promote a balance between user protection and healthy market development.During the working group meeting, discussions were held on how to design a system for the rapidly evolving financial business, covering areas such as decentralized finance (DeFi), cashless payments, and fintech. The Financial Services Agency will strive to ensure the stability and competitiveness of the Japanese financial system based on international trends.One focus is to strengthen the regulation of crypto asset exchanges. The Financial Services Agency will learn from the lessons of the FTX bankruptcy in November 2022 and consider introducing mandatory requirements for exchanges to hold assets domestically under the fund settlement law framework, in order to enhance the protection of user assets in the event of an exchange bankruptcy.Discussions on stablecoins also aim to promote their use. Currently, specific trust-type stablecoins are subject to the same regulatory standards as bank deposits, but other countries have greater flexibility in the operation of supporting assets. Japan is also considering adjusting relevant regulations.

ChainCatcher news, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris stated that she welcomes federal cryptocurrency legislation, but that states should retain regulatory responsibilities.Adrienne Harris said, "We may be more eager than anyone to work with our federal partners and see the introduction of federal legislation and regulation. I believe that the passage of legislation and the establishment of regulation are very important, but states should still retain their regulatory roles."Adrienne Harris expressed an "optimistic" attitude that the House and Senate may soon push related legislation, noting that NYDFS has engaged in dialogue with lawmakers from both chambers and both parties over the past few years.Additionally, Harris stated that NYDFS has one of the largest cryptocurrency departments in the world, with 60 full-time employees focused on the cryptocurrency industry.

ChainCatcher News: At a meeting of the working group on the revision of its funding law, the Financial Services Agency of Japan discussed providing a more convenient mechanism for businesses to handle crypto assets (virtual currencies). Participants believed that reducing the burden on companies would encourage the participation of large domestic gaming companies and promote research and development in the related blockchain ecosystem. The meeting also mentioned that as the virtual currency market expands, discussions about exchange regulation and new rules are becoming more frequent.Liberal Democratic Party Web3 project group leader, Member of Parliament Hirakawa, pointed out that unoptimized tax issues pose obstacles to the establishment of startups, leading to a drain of talented individuals and companies overseas.The Financial Services Agency emphasized that tax reform has addressed the issue of direct taxation on spontaneous tokens, but challenges remain in auditing non-mainstream tokens.

ChainCatcher news, according to The Block, U.S. House Financial Services Committee senior Democrat Maxine Waters stated that she hopes to reach a "significant agreement" on stablecoin legislation by the end of this year.Waters emphasized that the new legislation should prioritize consumer protection and strong federal oversight, while allowing multiple pathways to create stablecoins, but the Federal Reserve must play a leading role.

ChainCatcher news, Allan Kirkland, a commissioner of the Australian Securities and Investments Commission (ASIC), stated at the AFR Digital Assets Summit that many cryptocurrency companies will need to obtain financial services licenses under the Corporations Act.ASIC believes that certain crypto assets should be classified as financial products, but there is uncertainty due to the crypto sector not fully aligning with the current regulatory framework. ASIC plans to update its guidelines before November to clarify the classification and treatment of relevant crypto tokens. ASIC has also strengthened its regulation of the crypto industry, recently taking enforcement action against Kraken and the Australian Securities Exchange (ASX).

ChainCatcher news, the South Korean Financial Services Commission has clearly stated that it will actively support the second phase of virtual asset legislation. Kim Sung-jin, the head of the Virtual Asset Division of the Financial Services Commission, stated that the policy direction of the United States will serve as an important reference for South Korea's virtual asset legislation, and pointed out that a strategic approach is needed in the areas of security tokens and central bank digital currencies (CBDC) to expedite the National Assembly's discussions on the revision of related bills such as the Capital Markets Act.The South Korean authorities plan to focus on discussing the operational behaviors and qualification requirements of virtual asset service providers in the second phase of virtual asset legislation.Members of the National Assembly also believe that digital asset legislation is an urgent task. A member of the National Assembly's Policy Committee stated that digital assets are expected to create a new financial order and bring opportunities and challenges to the South Korean economy.

ChainCatcher news, Fox Business reporter Eleanor Terrett disclosed on the X platform that all five members of the U.S. SEC are preparing to testify before the House Financial Services Committee next Tuesday. This will be the first time since 2019 that the entire SEC, not just the chairman, will testify together.Gary Gensler himself will testify separately in the Senate next Wednesday.

ChainCatcher news, during the opening speech at the Invest in UAE Forum, Hong Kong's Under Secretary for Financial Services and the Treasury, Chen Haolian, stated that over the past year, Hong Kong and Dubai have continuously strengthened their partnership in the financial sector. Last year, a Hong Kong licensed insurtech company began a strategic collaboration with the oldest insurance company in the UAE, and their digital asset custody insurance has been approved by the Central Bank of the UAE to operate locally.In terms of cross-border payments, Chen Haolian pointed out that the Hong Kong Monetary Authority and the Central Bank of the UAE, along with three other central banks and the Bank for International Settlements Innovation Hub, are collaborating on a project called Multiple Central Bank Digital Currencies (mBridge) to explore the application of wholesale central bank digital currencies. The project completed its pilot phase in 2022, with 20 banks from four jurisdictions participating. This year, the project has reached the Minimum Viable Product (MVP) stage and will further expand participation from the public and private sectors.

ChainCatcher news, according to CoinDesk, the Financial Services Agency (FSA) of Japan stated in a review of tax reform documents that "regarding the tax treatment of cryptocurrency transactions, it is necessary to consider whether cryptocurrencies should be regarded as financial assets that should become public investment targets."Currently, the country taxes cryptocurrency profits as income, with a tax rate of up to 45% for individuals with income exceeding 4 million yen (approximately $276,000), while the capital gains tax rate for selling securities such as stocks is a flat 20%. Changes to this system could lead to a reduction in taxes for some cryptocurrency investors.