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06 июля 2023 09:05

🪙 Spark Protocol, MakerDAO’s New Lending Platform, Will Expand To Multi-chain

MakerDAO announced on Twitter that their DeFi lending protocol Spark Protocol would be extended to multiple chains and announced the steps and process of implementing Spark Protocol in specific domains (each blockchain network). To implement Spark Protocol in a new domain, you must create a Maker forum post in the SubDAO TWO category (basics, technical info, collateral info, info required, liquidity, etc.). Domain refers to various blockchain networks, including sidechains and layer 2 solutions.

Phoenix Labs will evaluate submitted proposals and provide MakerDAO with recommendations for new domain names and collateral information to include. In addition, Block Analitica will perform collateral assessment and recommend risk parameters for collateral in Spark on the new domain. Domain and collateral reviews will be published on Maker Forums. These reviews will provide valuable insight to MKR owners when making decisions regarding Spark deployment on a new domain. MakerDao, a decentralized autonomous organization operating on the Ethereum blockchain and issuing stablecoin DAI, recently announced the launch of its latest DeFi product, Spark Protocol.

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05 июля 2023 23:13

💰 "Bitcoin is digitizing gold. Instead of investing in gold to protect against the devaluation of your currency, people can invest in Bitcoin. Bitcoin is an international asset"

Larry Fink on Fox on Bitcoin ETF

➡️ @CryptoMagazine

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04 июля 2023 17:08

🪙 Litecoin Halving Less Than 30 Days, LTC Up 31% In The Last Week

According to Litecoin halving data, 29 days, 20 hours and 45 minutes (1,7682 blocks) are still left before the Litecoin (LTC) block reward halving. The halving is scheduled to take place on August 2, at which point the block reward will drop from 12.5 LTC to 6.25 LTC. Litecoin has been trending on social media as the asset approaches its halving event. Litecoin has seen significant growth over the past 30 days. The price of LTC has increased by more than 27% since the one-month countdown to the Litecoin halving began.

Most investors expect the Litecoin price to increase after the halving event, as the number of rewards will decrease, thus increasing demand. However, there are several other factors to consider. Each LTC price halving is usually very chaotic. This includes a significant price pump, a corresponding correction, a price low, and a local rally to the top. After the halving, the price of LTC was corrected from the high at that time. It will then form a new low followed by a sharp rise to a new all-time high. Therefore, we will likely see a post-halving price pump on August 2, 2023. And according to previous halvings, the price could correct before reaching a local top.

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02 июля 2023 12:16

🪙 Ethereum Name Service Gears up for Layer 2 Expansion

Ethereum Name Service – the distributed, open, and extensible naming system operating on the Ethereum blockchain – announced plans for Layer 2 expansion. The growing popularity of Ethereum significantly increased gas prices forcing market participants to look for cost-effective alternatives. Ethereum Name Service (ENS) is one such project that had earlier said that Layer 2 interoperability has been on the pipeline for quite some time via – ENSIP-10: Wildcard Resolution and EIP-3668: CCIP Read: Secure offchain data retrieval.

On a community call this week, the team behind ENS emphasized the importance of the upgrade that would lead to Layer 2 expansion to improve scalability and reduce costs. They said facilitating the interaction of existing solutions with ENS domains would help in domain name registrations and transactions becoming more accessible to a wider user base. Going forward, the devs behind the Ethereum-based naming system intend to leverage off-chain resolvers via an ENS off-chain registrar contract and different service providers, such as Coinbase-operated project cb.id, Polygon-based Lens Protocol, Optimism-based OptiNames, etc. Unfazed by the market turmoil in the digital asset space last year, ENS clocked in more than 2.2 million domain names.

Source

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01 июля 2023 11:09

🇺🇸 Kraken ordered to hand over user information to IRS for anyone who transacted over $20k in one year between 2016-2020

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29 июня 2023 09:32

⬜️ OKX Released The 8th Proof Of Reserve, All Coins Exceeded 100%

OKX, the second largest offshore cryptocurrency exchange, officially released the 8th Proof of Reserve (PoR). According to reports, OKX is dedicated to improving the transparency of PoR to the traditional financial audit level in order to maintain its position as the industry leader in security and transparency. The recent reserve ratio of 22 publicly traded coins all topped 100%, with BTC, ETH, and USDT all at 103% and a total value of $11.3 billion. It is one of the industry’s few major encryption exchanges that issue reserve certificates on a monthly basis.

Proof of reserves (PoR) is the process of confirming that the customer assets held by a cryptocurrency exchange or financial institution match the number of assets kept in reserve on the customers’ behalf. PoR has been widely publicized as the major method for crypto investors to ensure that their assets are properly safeguarded. It’s also a crucial tool for crypto platforms since it allows them to demonstrate that they have enough assets to support transactions and withdrawals. The bankruptcy of FTX and the dissolution of Three Arrows Capital both stunned the cryptocurrency sector. They called into doubt the dependability and integrity of cryptocurrency custodians.

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26 июня 2023 10:24

🇺🇸 US retailers targeted with bomb threats, seeking bitcoin and gift cards

Law-enforcement officials and retailers are investigating a recent wave of bomb threats across the United States, targeting grocery operators and other stores, the Wall Street Journal reported on Sunday. Retail companies including Kroger, Walmart and Amazon's Whole Foods Market, among others, have received bomb threats at their stores in recent months, the report said, adding that some callers demanded gift cards, bitcoin or money and threatened to detonate bombs if payments were not made.

These threats have been spread across various areas from New Mexico to Wisconsin. At a Kroger-owned store in New Mexico, an employee received a call from a suspect who asked her to wire money and said a bomb would go off if she called the police. A similar incident was reported in a suburb north of Chicago, where a caller told a Whole Foods Market employee a pipe bomb had been placed in the store and demanded $5,000 in bitcoin, according to the Wall Street Journal. The FBI said it is working with local and state law-enforcement officials and asking members of the public to maintain awareness of their surroundings and report any suspicious activity to law enforcement, the newspaper added.

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24 июня 2023 17:58

🏦Coinbase Wins Supreme Court Ruling in Arbitration Lawsuit

Crypto exchange Coinbase won a reprieve from the U.S. Supreme Court on Friday, after the high court ruled that a lawsuit filed by one of the exchange's users couldn't proceed until Coinbase defends an appeal of a lower court ruling. The ruling, which won a 5-4 majority, allows Coinbase to continue its effort to compel arbitration against the putative class action lawsuit, halting the lawsuit's progress through the federal court system in the meantime. While this marks a win for Coinbase, it has little direct effect on the crypto industry.

"The sole question here is whether the district court must stay its pre-trial and trial proceedings while the interlocutory appeal is ongoing. The answer is yes: The district court must stay its proceedings," wrote Justice Brett Kavanaugh on behalf of the majority. Coinbase lost an initial ruling against the putative class action lawsuit, when the U.S. District Court for the Northern District of California denied its motion to compel arbitration. Coinbase lost an appeal of that ruling as well. The lawsuit was originally set to proceed on some of the case's merits. The Supreme Court ruling doesn't touch on crypto issues beyond the fact that Coinbase is one of the two parties involved.

Source

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22 июня 2023 19:33

🪙 Tether To Launch USDT On Kava Network, KAVA Soars 12%

Tether, the creator of the first and biggest blockchain-based stablecoin, USDT, has announced that it would also issue USDT on Kava (KAVA), a Layer-1 blockchain built for scalability and speed. According to Tether, the Kava network’s unique design lets users make use of Cosmos’ “zones” feature on the protocol. Kava revealed last month that it had deployed the “Kava 13” mainnet update, which upgraded its infrastructure to provide customers with increased security, scalability, functionality, and processing speed.

Tether, the world’s largest stablecoin issuer, has announced that it would also issue USDT on the Kava network, which was built and launched in 2018. The Kava network is built with a collaborative Blockchain design that combines the flexibility of the Ethereum virtual machine with speed, low transaction fees, and the interoperability of Cosmos’ software development kit, one of the largest organic ecosystems in the cryptocurrency world, according to the company. The integration of USDT into the Kava network has extended the number of networks to which USDT is exported to eight. Prior to Kava, USDT could be issued on a variety of networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron.

Source

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19 июня 2023 15:52

🇺🇸 Binance.US Resorts to Job Cuts as It Prepares for Long and Costly Litigation With SEC: Report

The regulator insists on a rulebook for crypto exchanges and their compliance with security laws. In a letter to employees, Binance said it foresees protracted and expensive litigation with the US Securities and Exchange Commission (SEC) and asked Binance.US management to reduce the size of its workforce across the division. A Bloomberg report noted that a number of employees at Binance’s US affiliate have been laid off.

Early this month, Binance.US said it was being cut off from the banking and payments partners. On June 9, the crypto exchange serving only American customers suspended USD deposits and asked users to withdraw their dollar deposits right away, given the SEC’s “extremely aggressive and intimidating tactics.” In its June 5 lawsuit, the SEC requested the court to freeze the assets and operations of Binance.US. However, the authorities denied the SEC’s motion on June 14 and asked Binance.US and the agency to engage with each other and find a solution. Binance CEO Changpeng Zhao dismissed the notion that the company sold BTC and BNB and termed such rumors on social media as FUD.

Source

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17 июня 2023 17:15

📣 Former Crypto Fugitive Do Kwon To Remain Jailed For 6 More Months: Report

Do Kwon and Han Chang-Joon remain incarcerated for six more months while judges consider extradition requests from South Korean and US prosecutors. They are accused of defrauding investors and falsifying documents. The case has upended the political arena in Montenegro just before local parliamentary elections. The pair had been granted bail at €400,000 each by a higher court in Podgorica, which had kicked off an extradition detention.

The decision to grant them bail has underscored the confusing status of Kwon. They will stay in prison in Spuž, north of the capital Podgorica, while a higher court decides if they will be extradited to South Korea. Kwon and Han are also accused of falsifying documents in Montenegro, which is punishable by a prison sentence of three months to five years. The case has upended the political arena in Montenegro just before local parliamentary elections. Kwon had sent a letter to authorities about his alleged relations with Milojko Spajić, a candidate for prime minister. Kwon was on the run from Interpol for about six months before hiding out in Serbia.

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15 июня 2023 16:33

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13 июня 2023 14:03

Bitcoin’s correlation with equities continues to fall from Covid Era highs

-NYDIG

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12 июня 2023 08:26

🟠 Binance’s Net Outflow Of $392 Million: Misleading Reports And The Bigger Picture

Binance’s net outflow of $392m in 24 hours may not indicate a decrease in AUM. Reports of sharp increase in Binance outflow are misleading. The exchange balance is increasing and significantly higher compared to December 2022. Poor trading depth observed with BNB/USDC pair. Recently, the CEO of Binance, Changpeng Zhao, tweeted that the company’s net outflow was approximately $392 million in the last 24 hours.

According to Spot On Chain, some reports only capture a short time frame, like a few days or a week, and give a quick conclusion that there is a sharp increase in Binance outflow. However, this is different from the bigger picture. As seen in the graph below, the exchange balance of Binance is on an increasing trend and is significantly higher compared to December 2022. On days with sharp price movements, such as today, many arbitrage traders move a lot of funds between exchanges, which can result in significantly more outflows than on normal days. For reference, Binance processed $7 billion in net outflows in one day last November.

Source

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10 июня 2023 10:40

🪙 Zcash Community Wants To Launch Sustainability Development Fund

Shielded Labs, a new entity wholly independent of Electric Coin Co and the Zcash Foundation, has launched a project proposal on the Zcash Forum for the “Zcash Sustainability Fund (ZSF).”. According to the proposal, Shielded Labs is collaborating with Equilibrium Group to build the Zcash Sustainability Fund. Shielded Labs will finance the development of ZSF (which will be built on the protocol layer) and will leverage its expertise in the Zcash ecosystem to do so.

According to the plan, ZSF would address the network’s future security after the block reward has expired by altering the Zcash issuance schedule and providing a method to spend money to maintain the network. It maintains the supply ceiling of 21 million tokens and reduces the token emission curve while maintaining an estimated issuance rate that substitutes the four-year halving cycle. Funds paid into the reserve are given as block rewards over time to help sustain the network. A ZSF functions similarly to an algorithmic savings account or endowment. Money is put aside for certain uses, ensuring that the Zcash network has a consistent stream of block rewards.

Source

@TradeCryptoNow

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06 июля 2023 08:13

NEW: 70% of #BTC is either long-term savings, or lost, there is no in between.

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05 июля 2023 17:05

🇬🇧 UK financial regulator issues compliance deadline for crypto promotions

The Financial Conduct Authority (FCA) wrote to firms marketing crypto-assets to UK customers to comply with the incoming financial promotions regime or risk criminal charges. The FCA's order is effective from 8 October, and includes overseas firms that market their products to UK customers. In a statement, FCA crypto financial promotions lead Jayson Probin said, "Failure to comply may result in firms committing a criminal offence... This is a critical change for the industry."

The FCA has outlined the requirements for promoting crypto-assets in the UK, with four legal methods. The FCA letter issued Tuesday stated: "Promotions that are not made using one of these routes will be in breach of section 21 of the Financial Services and Markets Act 2000 (FSMA), which is a criminal offence punishable by up to 2 years imprisonment, an unlimited fine, or both." Those seeking registration with the Financial Conduct Authority (FCA) must be prepared for a stringent application process, pay a registration fee, and wait for up to three months. An authorized person communicates the promotion.

Source

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03 июля 2023 15:34

🪙 Ethereum Co-Founder Thinks The Over $40 Billion Staked ETH Can Be Stolen

It appears that the co-founder of Ethereum, Vitalik Buterin, doesn’t trust the security of infrastructure allowing ETH staking. Consequently, in a recent interview, Buterin stated that he would only stake a limited amount of coins to ensure the network is distributed and remain robust against malicious agents who might try to take over the platform, reversing transactions. Buterin has raised concerns about the potential risks of ETH staking through third-party infrastructure, specifically regarding the exposure of private keys and the danger it poses to his entire stake.

In a multi-sig system, users have their private key to sign transactions. A specific number of signatures must be provided to approve a transaction, which varies based on the Ethereum wallet’s configuration. This setup boosts security and reduces the risk of unauthorized access to funds. According to on-chain data, there are over 643,000 validators spread across the globe who have staked over 20.5 million ETH. On average, each validator has staked 32.17 ETH. Notably, the validator count has steadily risen over the years, and the number of ETH staked has sharply increased despite the recent upgrade permitting stakers to unlock their coins.

Source

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01 июля 2023 11:28

🇳🇿 New Zealand’s RBNZ Will Strengthen Unregulated Crypto Surveillance

The Reserve Bank of New Zealand (RBNZ) said on Friday that it is intensifying its supervision of stablecoins and crypto assets owing to uncertainty about how the industry will evolve and the potential dangers they may pose to the financial system. The decision was made after the central bank received public feedback to better understand the possible ramifications of new forms of private money on both the financial system and monetary sovereignty.

Woolford’s announcement was accompanied by a summary of 50 stakeholder contributions to a previous RBNZ study on crypto and decentralized finance. Respondents included BlockchainNZ, the country’s crypto advocacy group, Ripple, and institutions such as Westpac and the Bank of New Zealand. The RBNZ’s statement on Friday follows its announcement in December that it was developing a monitoring framework to monitor and appraise developments in new forms of “private money,” including cryptoassets. As part of its Future of Money initiative, the bank is doing a comprehensive research. This involves an ongoing study on the eventual establishment of a central bank digital currency (CBDC).

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30 июня 2023 11:50

🇭🇰 Largest Hong Kong ETF Manager Considers Cryptocurrency Expansion

Hang Seng Investment Management, the largest ETF manager in Hong Kong, is considering incorporating cryptocurrencies into its investment products following HSBC’s plan to allow customers to buy cryptocurrency ETFs. Hang Seng Investment Management is considering the possibility of using cryptocurrencies in its existing investment products after HSBC, Hong Kong’s largest bank, announced its plan to allow customers to purchase cryptocurrency ETFs.

Since the launch of ETF Connect last July, it has attracted stable net inflows of funds. In just one month, the average daily assets under management exceeded HKD 12 billion, representing a growth of nearly 80% compared to December of last year. During this period, the average daily trading volume was nearly HKD 1.7 billion, an increase of over 7 times since the planned launch in July last year, accounting for 6% of the overall Stock Connect. HSBC to embrace cryptocurrency ETFs reflects the growing popularity of virtual assets as an investment option. As more financial institutions begin to offer cryptocurrency ETFs and other related products, it is expected that they will continue to gain acceptance as a legitimate investment option.

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27 июня 2023 14:01

🇺🇸 U.S. Has Room for a Compliant Crypto ETF to Grow Market Share as a Bitcoin On-Ramp: Bernstein

The largest bitcoin (BTC) asset management product is Grayscale, which runs a $19 billion BTC trust (GBTC), but its dominant position may be under threat following news that investment giant Blackrock (BLK) has filed for a spot bitcoin exchange-traded-fund (ETF) in the U.S., Bernstein said in a research report Monday. Grayscale earns around $380 million in annualized fees “despite the product being inefficient, illiquid, and has traded at a significant discount over the last 28 months,” the broker said.

While the U.S. Securities and Exchange Commission (SEC) has approved multiple bitcoin futures ETFs, it has yet to approve a spot bitcoin ETF despite receiving numerous applications. The iShares unit of fund management giant Blackrock filed paperwork earlier this month with the SEC for the formation of a spot bitcoin ETF. This prompted other asset managers including Invesco and Wisdom Tree to apply or reapply for a bitcoin ETF product. Bernstein notes that the Grayscale Bitcoin Trust is only 3% of the total bitcoin market cap, which means there is the “headroom for a compliant ETF to grow its share as a bitcoin on-ramp solving the pain of custody.”

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25 июня 2023 14:10

🟢 Bitcoin Cash Grows Over %200 In Just 2 Weeks

Bitcoin Cash also maintained its spectacular run, which was started earlier this week by news that the crypto exchange EDX Markets, a cryptocurrency exchange sponsored by Wall Street firms, had gone online and was now accepting Bitcoin Cash as one of its cryptocurrencies. EDX is funded by Charles Schwab, Fidelity, and Citadel, indicating yet another entry into the digital asset area by major financial institutions. Just four cryptocurrencies were listed on EDX: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Despite today’s big increase, the BCH rate remains optimistic on a local time frame. At the moment, it reached $194 and quickly retraced to $180. If looking for a potential buying opportunity, buyers should keep an eye on the $150 price zone, as this is the resistance, it just broke through quickly. Bulls seem to need more time to collect energy for future expansion since the majority of currencies have started a corrective phase. BCH is no exception, now perhaps what we should do is wait for a correction to enter. Not except for the scenario that Bitcoin is at a price that excites investors and continues to increase, perhaps BCH will reach the $200 price zone in the near future without any price retest.

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23 июня 2023 19:07

💰 Bitcoin illiquid supply reached a new ATH of 15.2M BTC this week, whilst exchange balances have fallen to the lowest levels since Jan 2018 at 2.3M BTC.

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21 июня 2023 14:41

📣 Cosmos DEX Osmosis cuts token inflation by 50%, plans fee sharing in OSMO 2.0 update

Osmosis, the largest decentralized exchange in the Cosmos ecosystem, has unveiled a major update to its tokenomics model, OSMO 2.0, with a major drop in its inflation rate. After a community governance vote, the platform cut its inflation rate by 50%, signaling a transition from its early token distribution phase and a commitment to ensuring long-term sustainability of the native OSMO tokens.

Osmosis is the main decentralized exchange of the Cosmos ecosystem, where trading is conducted of native tokens including ATOM and bridged tokens such as Axelar wrapped BTC, ETH, and USDC stablecoin. It holds over $124 million in crypto assets, according to DeFiLlama. Osmosis governance is now discussing the implementation of a fee switch for liquidity pools. The feature empowers OSMO stakers by allowing them to directly share in the swap fees generated by activity in Osmosis liquidity pools, snd it would let OSMO stakers directly take a share in the swap fees generated by activity in Osmosis liquidity pools.

Source

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18 июня 2023 09:39

🟠 Binance Swaps 1.25 Billion USDT-TRX For USDT-ETH To Ensure Stablecoin Liquidity

Binance will swap 1.25 billion USDT-TRX for USDT-ETH directly with the Tether team to ensure stablecoin liquidity after 9:30 am UTC today. Users will see significant movements of USDT from Binance wallet today. USDT saw a slight de-peg yesterday. Binance has announced that it will exchange 1.25 billion USDT-TRX for USDT-ETH directly with the Tether team to address stablecoin liquidity concerns. The move comes after USDT’s slight de-pegging yesterday, causing traders to worry about the potential risks associated with this cryptocurrency.

Moreover, CoinDesk has obtained USDT’s client information that Tether did not want to disclose. This development has added fuel to the already burning fire of controversy surrounding Tether, which has been the subject of regulatory scrutiny in recent months. The New York Attorney General’s Office provided responsive documents to CoinDesk relating to Tether’s case, and CoinDesk reported an attack on USDT via DeFi and CEX on the same day the documents were released. Tether has asked CoinDesk not to disclose any information about their past or current customers. The materials are outdated and may not accurately reflect Tether’s current state of reserves nor account.

Source

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16 июня 2023 15:32

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14 июня 2023 08:15

🇰🇷 Korean Careful In Assessing 19 Tokens In SEC Case As Securities

According to Blockmedia, after the U.S. Security and Exchange Commission (SEC) lawsuits against the two largest crypto exchanges by market volume last week, trading platforms are being more careful when delisting the tokens mentioned by the SEC in the securities labeling list. However, the Korean financial agency has a different view from the regulations of the SEC. The Digital Asset Exchange Association (DAXA) is a grouping of South Korea’s top five cryptocurrency exchanges, which include UpBit, Bithumb, Coinone, Korbit, and Gopax.

After suing Binance and CEO Changpeng Zhao for fraud, the SEC continues to sue the largest US cryptocurrency exchange Coinbase. For years, the crypto industry has argued that tokens cannot be considered securities and should not be regulated by the SEC. However, these lawsuits could completely change the cryptocurrency market. The occurrence is expected to have a chilling effect on the 19 tokens referenced in the filings, causing them to relocate their operations to other regions of the globe. Among countries, Korea is the first to take a stand against US securities regulation.

Source

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13 июня 2023 08:15

🤖 Reddit Crypto Communities Are Suddenly Offline

According to updates, many communities will be unreachable today in protest of the social site’s management. Many sub-communities, including major crypto communities, unanimously voted to go private for 48 hours in protest of the new corporate policy prohibiting the usage of third-party apps. Reddit revealed intentions in April to change the way users interact with the Reddit Data application programming interface (API), a seven-year-old service that allows developers to build tools and utilities for moderation and other activities.

According to estimates, the majority of developers and consumers are rejecting the company’s recent pronouncements. This mostly entails Reddit imposing contentious fees on developers of third-party programs used to explore the social media network. The desire of Reddit to develop native moderator tools has a direct influence on the community’s capacity to design and utilize third-party solutions for regulating content and interactions. Since the contentious modifications have apparently not gone down well with users, several of the largest subreddits’ administrators have made their communities private for over 48 hours in protest. According to the reports, as a consequence of the reaction, around 3,500 subreddits would be unavailable to the majority of users.

Source

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11 июня 2023 12:56

📣 CFTC Lawsuit Request Ooki DAO Pay $643,542 Fine And Permanently Closed

A US federal judge agreed with the CFTC’s allegations that the Ooki DAO issued unregistered items and paid over $600,000 in fines. US District Judge William H. Orrick ruled on Thursday that the Ooki DAO operated an illegal trading platform and illegally operated as an unregistered futures commission trader (FCM), which gives the default judgment to the CFTC. He ordered the organization to pay $643,542 in fines, permanently shut it down, and shut down its website.

The original lawsuit, filed in US District Court for the Northern District of California last September, accused the DAO of providing “leveraged and margin” commodity trading to retail customers and not complying with consumer knowledge laws when serving those merchants. Ooki DAO, the heir to a company called bZeroX, is accused of allowing Americans to trade illegal crypto derivatives products. In September, the CFTC settled the allegations with bZeroX and its founders, Tom Bean, and Kyle Kistner, and attempted to sue the entire DAO at once. Chatbots and forum messages served the lawsuit.

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09 июня 2023 08:08

🇭🇰 Hong Kong Regulator Backs Tokenisation In Finance For Better Access To Crypto

Hong Kong’s SFC supports tokenisation in finance, ensuring cybersecurity and investor protection. Blockchain enhances efficiency. Franklin Templeton also bullish. Hong Kong’s Securities and Futures Commission (SFC) recently expressed its support for the use of tokenisation in the financial industry. Elizabeth Wong, head of the financial technology department of the SFC, said that the commission will continue to amend and evolve policies for better access to cryptocurrency investments.

The SFC has already provided certain regulatory oversight and investor protection to licensed virtual-asset platforms. Wong added that the SFC will apply the same code of conduct to fund managers looking to invest portfolios in virtual assets. Blockchain technology can ensure or enhance efficiency, according to Wong. The watchdog is actively looking into the benefits of tokenisation while also ensuring that investors are not any worse off. Cybersecurity is the biggest concern for the SFC, ensuring that the token is free from hacking and has no vulnerabilities. The commission is keen to understand these challenges and is open to working with industry players.

Source

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