Global Policy Updates
China's Central Bank Transitions to Routine Virtual Currency Oversight
- Report Release: The People's Bank of China published the China Financial Stability Report (2021), confirming the completion of virtual currency trading platform crackdowns.
- New Phase: Regulatory efforts now shift to "routine supervision" for sustained monitoring.
International Regulatory Movements
| Country | Key Development |
|---|---|
| India | Draft bill classifies cryptocurrencies as commodities for tax/utility purposes. |
| Argentina | Central bank monitors crypto to prevent forex regulation evasion. |
| Nigeria | SEC establishes Fintech division to study crypto investments for future rules. |
| Brazil | Central Bank explores feasibility of a CBDC (Central Bank Digital Currency). |
| Ghana | Pilot launch announced for national digital currency e-cedi. |
| Russia | Sberbank to register its digital asset issuance platform in September. |
👉 Explore global crypto regulations
Industry Highlights
ETH's Historic Deflationary Milestone
- Date: September 3 marked Ethereum's first deflationary day.
- Data: 13,838 ETH burned vs. 13,485 ETH issued, net reduction of 352 ETH.
Digital Yuan Expansion
- "6+2+1" Framework: Six state banks, two private banks (WeBank, MYbank), and CMB now support digital RMB.
Platform Innovations
- Twitter: Testing BTC/ETH address displays in profiles.
- Shop.com: Adopts crypto payments via BitPay.
- Apple: Eases App Store restrictions for blockchain developers post-lawsuit.
Regional Focus: Asia
- South Korea: Gopax introduces crypto monitoring standards; Bithumb restricts unverified foreign users.
- Japan: SBI Holdings to launch the country's first retail digital asset fund (BTC, ETH, XRP included).
👉 Stay updated on crypto innovations
Investments & Funding
- Parcel (India): $2.5M seed round led by Dragonfly Capital.
- HurricaneSwap (Avalanche): $2M+ raised with Avalanche Asia Fund participation.
- Cabital: $4M seed funding co-led by SIG and Dragonfly.
- Pollen DAO: $5M secured for decentralized portfolio management.
FAQ Section
Q: What triggered ETH's deflationary day?
A: Ethereum's London upgrade (EIP-1559) introduced fee burning, reducing supply when network activity spikes.
Q: How does China's "routine supervision" differ from the crackdown phase?
A: While initial crackdowns targeted illegal operations,常态化监管 (routine oversight) focuses on sustained compliance checks.
Q: Which cryptocurrencies does Vast Bank support?
A: BTC, ETH, LTC, ADA, FIL, OXT, BCH, and ALGO via FDIC-insured accounts.
Q: Why is SBI's digital asset fund significant for Japan?
A: It’s the first retail-friendly fund, bridging traditional finance and crypto for mainstream adoption.