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BCH $441.55 -0.62%
LINK $8.69 +2.41%
HYPE $35.97 +3.14%
AAVE $95.57 +2.14%
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XLM $0.1642 +0.88%
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The Ministry of Industry and Information Technology of China: Explore innovative businesses such as "computing power banks" and "computing power supermarkets" to support small and medium-sized enterprises in depositing idle computing power resources

According to a report by Jinshi Data, the General Office of the Ministry of Industry and Information Technology has issued a notice on launching a special action to empower the development of small and medium-sized enterprises (SMEs) through inclusive computing power, mentioning the innovative service model of computing power.Improve the SME section of the China Computing Power Platform, the computing resource docking section of the China SME Service Network, and the national computing internet service node section (hereinafter collectively referred to as the SME platform section), to promote the precise matching of SME demand and computing resource supply, and implement flexible payment models such as "card time," "calculated time," and Token billing.Explore innovative businesses such as "computing power banks" and "computing power supermarkets," supporting SMEs to deposit idle computing resources and achieve flexible use through cross-regional and cross-cycle scheduling. Implement an artificial intelligence SME entrepreneurship support plan, encouraging local relevant departments to subsidize "computing power vouchers," "storage vouchers," and "transportation vouchers" to SMEs that meet industrial orientation through the SME platform section, simplifying the acquisition and usage process.

Hainan Local Financial Supervision Bureau: Beware of the chaos of "pseudo exchanges" and reiterate the prohibition of RWA tokenization business within the territory

According to Hainan Daily, the Hainan Provincial Local Financial Supervision Administration has issued a risk warning regarding trading venues. Recently, the Hainan Provincial Local Financial Supervision Administration learned from relevant channels that certain entities are promoting under names such as "Hainan International Data Asset Exchange," "Hainan Data Exchange," and "Hainan Marine Exchange," claiming to legally conduct businesses related to RWA (Real World Assets) and RDA (Real Data Assets).Market entities are conducting business in violation of regulations under the guise of trading venues without approval, which is suspected of illegal financial activities and endangers public property safety. In response, the Hainan Provincial Local Financial Supervision Administration has the following risk warnings:Currently, there is no approved establishment of the "Hainan International Data Asset Exchange" within our province. The establishment of trading venues in our province must be approved by the provincial government (the list of approved trading venues can be found in the appendix). Without approval from the competent authorities, market operators are not allowed to use terms such as "exchange" or "trading center" in their registered names, nor can they engage in activities related to trading venues.The People's Bank of China, the China Securities Regulatory Commission, and eight other departments jointly issued a notice on further preventing and addressing risks related to virtual currencies, clearly stating that the regulation of the tokenization of Real World Assets (RWA) follows the principle of "strictly prohibited domestically, strictly regulated overseas." It emphasizes that conducting tokenization activities of Real World Assets (RWA) within the country, as well as providing related intermediary and information technology services, is suspected of illegal activities such as unauthorized issuance of token vouchers, unauthorized public issuance of securities, illegal operation of securities and futures businesses, and illegal fundraising, which should be prohibited.We urge investors to establish a correct investment perspective.

The Financial Supervisory Service of South Korea, the Customs Service, and credit card companies join forces to combat cryptocurrency exchange and illegal overseas withdrawals

According to New Daily, the Financial Supervisory Service (FSS) of South Korea, the Customs Service, the Credit Finance Association, and nine credit card companies in the country signed the "Public-Private Cooperation Agreement to Block Transnational Criminal Funding" on the same day. The plan aims to cut off the funding chain for telephone fraud and virtual asset crimes at the source by analyzing overseas credit card usage details and entry and exit records.In the past, due to information gaps between agencies, the Customs Service had entry and exit data but could not monitor abnormal overseas consumption in real-time, while credit card companies had payment data but did not have access to cardholders' customs clearance dynamics. Under the new mechanism, the Customs Service will provide credit card companies with information on high-risk transaction trends, while the Financial Supervisory Service will establish guidelines authorizing credit card companies to take effective measures such as interrupting transactions when abnormalities are detected.Lee Chan-jin, the head of the Financial Supervisory Service of South Korea, stated that this move signifies that South Korea has established a normalized monitoring system to block the outflow of criminal proceeds at the source. The system will focus on precisely targeting currency exchange behaviors that involve cash withdrawals at overseas ATMs using overseas credit cards and laundering through cryptocurrencies.
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