ChainCatcher news, according to China Securities Journal, Li Chao, Vice Chairman of the China Securities Regulatory Commission, stated today at the 2024 Financial Technology Conference's FinTech Forum that, overall, the application of financial technology in the capital market is becoming increasingly mature, providing strong support for the capital market to serve the real economy.Next, the CSRC will promote the in-depth application of new technologies such as artificial intelligence in the capital market to assist in the high-quality development of the capital market.

ChainCatcher news, according to Cointelegraph, the Depository Trust & Clearing Corporation (DTCC) has announced the launch of an open digital sandbox ecosystem called "DTCC Digital Launchpad." The platform is designed to enable market participants and technology providers to initiate pilot projects with clear production pathways to address pain points in capital market infrastructure.DTCC has invited a group of participants to join the Digital Launchpad to develop solutions for key collateral management pain points. The relevant results will be announced in the first quarter of 2025. Meanwhile, DTCC clients can access the DTCC digital asset product suite in the sandbox environment, allowing them to develop their own use cases without significant investment.Previously, DTCC successfully completed a proof of concept with the Japan Securities Clearing Corporation (JSCC), demonstrating the potential of digital technology in collateral management. JSCC minted tokens representing cash, stocks, and bonds using DTCC infrastructure and integrated margin calls and digital asset access processes through smart contracts.Nadine Chakar, Global Head of Digital Assets at DTCC, stated that the company aims to challenge the "isolated approach" of the digital asset industry, with the ultimate goal of bringing together industry forces to build a secure and efficient digital market infrastructure and standards.

ChainCatcher news, according to Bitcoin Magazine, the National Bitcoin Office of El Salvador stated that El Salvador is building a new capital market based on Bitcoin.

ChainCatcher news, according to Bitcoin.com, U.S. Congressman Warren Davidson introduced the "Assessing DeFi Opportunities Act" on Tuesday. The bill calls for the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Secretary of the Treasury to jointly study decentralized finance (DeFi). Davidson emphasized that DeFi plays a crucial role in the future of capital markets, but he expressed concerns about the Biden-Harris administration's regulatory approach to the sector. He described, "This legislation ensures that the federal government can implement data-driven financial regulation without interfering with the development of digital markets or jeopardizing the user privacy provided by DeFi."Lawmakers pointed out that as the number of users continues to grow, the total market capitalization of DeFi has soared to approximately $75 billion. However, Davidson warned that excessive regulation could stifle innovation and lead to investments flowing overseas. The proposed study aims to help regulators understand the benefits of DeFi, such as the operational resilience of blockchain, market competition, and user privacy protection. Davidson stressed that regulators need to "take a cautious approach" to ensure that DeFi can thrive without compromising user privacy or innovation.

ChainCatcher news, SEC Chairman Gary Gensler stated on Wednesday that the Financial Innovation and Technology for the 21st Century Act (referred to as "FIT 21") will harm investor interests and hinder the work of the SEC.He said, "FIT 21 will create new regulatory gaps, undermining decades of precedent regarding the regulation of investment contracts, exposing investors and capital markets to immeasurable risks."FIT21 is a bill jointly proposed by the House Agriculture Committee and the House Financial Services Committee, aimed at clarifying how the SEC and the Commodity Futures Trading Commission (CFTC) regulate cryptocurrencies. The bill creates the term "digital commodities" for digital assets that do not meet the definition of securities, placing these assets under the jurisdiction of the CFTC.

ChainCatcher news, HashKey Capital Singapore announced that it has obtained a Capital Markets Services (CMS) license issued by the Monetary Authority of Singapore. With this license, HashKey Capital Singapore will operate as a licensed fund management company (LFMC), providing regulated fund management services related to capital market products locally in Singapore. HashKey Capital Singapore is committed to bringing blockchain-related capital market products and investments into the mainstream and will continue to contribute more to the development of the local blockchain community in the future.

ChainCatcher news, the decentralized digital asset exchange DigiFT has been granted a Capital Markets Services (CMS) license by the Monetary Authority of Singapore (MAS) and certified as a Recognized Market Operator (RMO). The CMS license will allow DigiFT to advance the issuance of security tokens and trading activities of capital market products in Singapore, covering corresponding assets including securities and Collective Investment Scheme (CIS) units. As an RMO, DigiFT is also allowed to operate a secondary trading market for security tokens on a public blockchain.Henry Zhang stated, "DigiFT is the first exchange with an Automated Market Making (AMM) mechanism to be accepted into the MAS FinTech Regulatory Sandbox. As the first regulated exchange to use the AMM mechanism for secondary trading on a public chain, we will continue to drive innovation, including the tokenization of real-world assets."

ChainCatcher news, the Bank of Korea has released a report titled "Assessing the Deficiencies of the Cryptocurrency Market and Its Impact on Global Significant Events." The report states that as the scale of the cryptocurrency market expands, the possibility of impacting the real economy also increases. If activities such as deposits or loans are conducted in the cryptocurrency market similar to those in the traditional financial industry, and face the same risks, then the same regulations as those in the existing industry should be implemented for the crypto market.The National Assembly of Korea is currently promoting the enactment of regulations through the "Virtual Asset User Protection Act." The Bank of Korea's position is that legislation considering the impact on the financial system is necessary, especially for stablecoins that may be used as a means of payment. It believes that the role of central banks should be expanded by referencing legislative cases from major countries such as the European Union (EU).A responsible official from the Bank of Korea stated that if the cryptocurrency market has economic functions similar to traditional finance, regulatory rules similar to the "Banking Act" or the "Capital Markets and Financial Investment Services Act" should be formulated. (source link)

ChainCatcher news, according to CoinDesk, the consensus capital market protocol Alkimiya announced the completion of a $7.2 million financing round, led by Castle Island Ventures and 1kx, with participation from Circle Ventures, Coinbase Ventures, and Dragonfly Capital Partners. It is reported that this round of financing aims to help miners and stakeholders attempting to hedge cash flow survive the bear market. In addition, Alkimiya plans to launch on the Ethereum mainnet this quarter.ChainCatcher previously reported that in March last year, Alkimiya officially launched on the Avalanche mainnet. (Source link)

ChainCatcher message, FTX's official Twitter account released "Clarification on Entities Not Included in Chapter 11 Filing." "FTX announced that FTX US, Alameda Research, and approximately 135 additional affiliates have voluntarily and orderly commenced the relevant process under Chapter 11 of the U.S. Bankruptcy Code to review and monetize all stakeholder interests. In a press release issued earlier today, it was noted that certain subsidiaries are not included in the Chapter 11 proceedings, including Ledger X, FTX Digital Markets, FTX Australia Pty, and FTX Express Pay. Additionally, the following entities are also not included in the Chapter 11 filing process: FTX Capital Markets, Embed Financial Technologies, and Embed Clearing. Furthermore, the FTX Group does not include companies that are not owned or controlled by the FTX Group, such as Bitvo Inc. and BTC Africa SA, along with their respective subsidiaries." (source link)

Chain Catcher news, according to Forkast, South Korean prosecutor Choi Sung-kook confirmed that the Seoul Southern District Prosecutor's Office issued a court order against Terra's general affairs head Yoo on Wednesday, with charges including violations of the Capital Markets Act, fraud, and negligence. In addition, prosecutors accused Yoo of using bot programs to exaggerate and manipulate the market price of Terra cryptocurrency.It is reported that Yoo is a member of Do Kwon's inner circle at Terra. According to an announcement posted on the South Korean Ministry of Foreign Affairs website, Do Kwon's passport will be revoked. (Source link)

Chain Catcher news, Terraform Labs believes that the actions of the Korean prosecutors after the collapse of UST and Luna are unfair, having highly politicized the case and failing to uphold the basic rights protected by Korean law. Terraform Labs argues that Luna has not been legally classified as a security, and therefore the relevant laws regarding capital markets in Korea do not apply. (Source link)