The crypto market is stable, with differing regulatory attitudes from various countries, and the prospects of Blockchain are recognized.

Crypto Assets Weekly Report: Market Stability, Tightening Regulations, Varying Attitudes Among Countries

This week, the Crypto Assets market remained stable overall, with a total market value slightly dropping by 0.5% to 215.2 billion USD. The price of Bitcoin briefly surpassed 6800 USD during the week and is currently stable around 6700 USD.

Countries have different attitudes towards Crypto Assets. The Central Bank of Iran will officially announce its position on digital currency in September. The Russian Ministry of Internal Affairs has proposed to classify unregistered Crypto Assets activities as criminal offenses. The U.S. SEC will review nine previously rejected Bitcoin ETF applications, but the completion time is not yet determined. The Central Bank of Kenya has stated that it does not recognize Crypto Assets, believing there are significant risks associated with them. The Central Bank of Thailand has launched the first phase of its central bank digital currency project.

Chinese regulators are tightening their stance on Crypto Assets. The China Banking and Insurance Regulatory Commission and four other departments jointly issued a risk warning, cautioning against illegal fundraising under the guise of "virtual currency" and "blockchain". The Chaoyang District of Beijing prohibits holding virtual currency promotion activities in commercial venues. Several blockchain media public accounts have been permanently banned for suspected ICO speculation.

In terms of industry dynamics, Japanese internet giant GMO has shifted all its mining resources from BCH to BTC. Rumors of Bitmain's IPO are rampant, but founder Wu Jihan stated that most of the news is false. North Korea will host an international blockchain conference in October to showcase its technological prowess. The World Bank has successfully issued its first blockchain bond, raising $81 million. Mt. Gox exchange has initiated the Bitcoin creditor claims application.

Industry insiders hold a cautiously optimistic attitude towards blockchain. Jack Ma stated that he does not support Bitcoin but believes that blockchain is one of the core technologies of the future. Binance CEO Zhao Changpeng believes that blockchain and Crypto Assets will not disappear; in fact, more people will participate. Former Bank of China Vice President Wang Yongli suggested paying close attention but taking a rational view of blockchain, and being more cautious with Crypto Assets. Bitcoin Foundation director Bobby Lee predicted that if mining costs exceed $54 million per day, the price of Bitcoin will break $60,000.

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CountdownToBrokevip
· 08-13 04:17
Regulation 🌝 Clip Coupons 🌝 and bankruptcy
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BloodInStreetsvip
· 08-13 04:17
The tighter the regulations, the more one should buy the dip.
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SerumSqueezervip
· 08-13 04:14
The ETF application is still hanging, it's so annoying.
View OriginalReply0
BlockchainArchaeologistvip
· 08-13 04:14
Only dare to buy when you've thought it through? The bearish PI has all left.
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SelfStakingvip
· 08-13 04:08
Blockchain is the truth that cannot be controlled.
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TokenCreatorOPvip
· 08-13 04:01
We can recharge again, brothers.
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NFTFreezervip
· 08-13 03:55
Bull coin is ready to da moon.
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