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HYPE $81.78 -1.81%
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XLM $0.1768 -1.56%
ZEC $838.63 -0.28%

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MYSTEN Labs co-founder Kostas Kryptos participates in the establishment of the cryptocurrency trading platform Havenex: Series A financing is about to be completed

The Sui development team co-founder of Mysten Labs, Kostas Kryptos, stated that Havenex is undergoing Series A financing and is about to complete it. All necessary license applications and some additional license applications have been submitted, and the financing amount is also close to being fully allocated.Havenex is not positioned to become another Coinbase, Binance, Bybit, or Kraken, but rather to provide infrastructure for financial institutions, enabling them to offer digital assets and traditional financial assets to clients while meeting regulatory, custody, security, and transparency requirements. Havenex plans to support a multi-chain architecture, verifiable custody, continuous solvency proof, default multi-signature, quantum-resistant keys, hardware two-factor authentication wallets, as well as self-custody and key loss protection mechanisms; in regions where regulations allow, it will also support privacy assets and RWA. The project will use Sui technology in suitable scenarios while integrating assets, bridging protocols, and foundational components from other ecosystems.The concept of Havenex was proposed by him, and he will currently participate as an advisor, but Mysten Labs and Sui remain his main focus. He stated that the project aims to establish transparency and security standards different from those of FTX and Mt. Gox, and to reduce the serious vulnerability risks caused by code generated by large language models recently.

Central Cybersecurity and Informatization Committee: Accelerate the legislation in emerging fields such as artificial intelligence, anti-cyber violence, digital economy, online platforms, and blockchain

The Central Cybersecurity and Informatization Commission issued the "Action Plan for Promoting High-Quality Development of Internet and Information Enterprises (2026-2030)."It mentions strengthening the construction of cyber rule of law. Actively carry out forward-looking research on legislation in the field of internet and information. Accelerate the legislative process in emerging areas such as artificial intelligence, anti-cyber violence, digital economy, online platforms, and blockchain.Promote the revision of the "Internet Information Service Management Measures," improve the legal system for internet information service management, "self-media" management, and algorithm governance. Advance the formulation of the Telecommunications Law, Cybercrime Prevention Law, and Cybersecurity Level Protection Regulations, and improve the supporting regulations for the "Regulations on the Protection of Minors Online" and "Regulations on the Management of Cyber Data Security."Standardize administrative inspections involving internet and information enterprises, minimizing interference with the normal production and operational activities of internet and information enterprises. Improve supervision and law enforcement measures that adapt to the new characteristics of internet development governance, and severely crack down on illegal and irregular activities online.
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