Regulatory Dynamics

1. The Dubai Financial Services Authority is developing a regulatory framework for digital assets.

The Dubai Financial Services Authority recently announced its business plan for 2021/22, revealing that it is developing a regulatory framework for digital assets. The Strategic Director of the Authority's Policy and Risk Division stated that the regulatory scope will cover security tokens, utility tokens, exchange tokens, and related service providers. The Authority plans to release consultation papers in the first and second quarters to seek opinions on the proposed rules.

2. The Vice President of Panama proposed a draft cryptocurrency bill.

The Vice President of Panama proposed a draft bill to regulate the use and trading of cryptocurrencies in a legislative plenary session. The draft aims to incorporate cryptocurrencies into the national social security fund, providing financial freedom to Panamanians who cannot access traditional banking services. The Vice President emphasized that Panama is lagging behind other countries in cryptocurrency regulation and urged the Committee on Trade and Economic Affairs of the Assembly to pay attention to the bill.

3. Beijing and Shanghai focus on the development of digital currency during the two sessions.

Members of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference pointed out at the meeting that promoting the pilot application of digital renminbi can reduce operating costs for small and medium-sized enterprises, and at the same time, efforts should be made to accelerate the establishment of a digital factor market. The Mayor of Shanghai stated in the government work report that this year will focus on strengthening the "four major functions," accelerating high-quality economic development, and promoting the pilot of digital renminbi.

4. The President of the European Central Bank Discusses the Digital Euro

The President of the European Central Bank stated that the correct implementation of the digital euro will benefit all citizens, not just the elite and the younger generation. She acknowledged that many issues still need to be addressed, but hopes to launch the digital euro within 5 years. At the same time, she believes that Bitcoin is a speculative asset that requires regulation.

Industry News

1. The emergence of stale blocks in Bitcoin has sparked discussions.

A stale block appeared at block height 666,833 of Bitcoin, attracting industry attention. A co-founder of a mining pool explained that this is the result of the combination of two common phenomena: blocks at the same height and RBF transactions. He stated that this situation is normal and stems from the sender of the transaction adjusting the fee, which leads to the replacement.

2. Controversy Arises as Bitcoin Core Website Removes White Paper Link

The Bitcoin Core website has removed the link to the Bitcoin whitepaper, triggering dissatisfaction in the community. The chief maintainer stated that this decision contributes to the decentralization of Bitcoin, emphasizing that Bitcoin should not have any leaders. On the other hand, a Bitcoin website owner has called on the community to fight against the copyright claim on the whitepaper and stated that they will continue to host the whitepaper to resist false accusations.

3. Russia's largest state-owned bank plans to launch a stablecoin

The State Savings Bank of the Russian Federation has applied to the central bank to launch a blockchain platform, planning to introduce a stablecoin named Sbercoin this spring. The head of the bank's trading business stated that the registration process usually takes no more than 45 days, but the issue of taxing digital financial assets still needs to be resolved.

4. The Stock Exchange of Thailand will launch a digital asset trading platform.

The Stock Exchange of Thailand plans to launch a digital asset trading platform in the second half of this year, but it will not include cryptocurrencies. This move aims to expand the digital asset sector, but specific details have not yet been announced.