[Weekly News] The 4th week of July
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Let’s find out about the hottest Bitcoin and cryptocurrency news for the 4th week of July!
Foreign press “4 U.S. cryptocurrency bills, if passed, the industry will have a big impact.”
Out of the 50 digital asset bills submitted to the U.S. Congress, foreign media reported on four statements expected to impact the cryptocurrency industry if passed significantly.
The four bills are:
1) The Financial Innovation and Technology for the 21st Century Act: Giving Digital Asset Oversight Authority to the Commodity Futures Trading Commission (CFTC)
2) Responsible Financial Innovation Act (RFIA): dividing the roles of the SEC and CFTC in regulating cryptocurrency
3) Digital Asset Market Structure Bill (DAMS): Defines the role of the SEC and CFTC agencies and provides a framework for regulators to decide whether a particular cryptocurrency is a security or a commodity.
4) Digital Commodity Exchange Act (DCEA): Authorizes CFTC to register and regulate cryptocurrency exchanges
Elon Musk “Twitter will add financial management function.”
Tesla CEO Elon Musk tweeted, “In the coming months, we will be adding features to Twitter that will allow you to manage comprehensive communications and overall finance.” Not long ago, Elon Musk removed the bird from the Twitter logo and rebranded it as an X.
U.S. Attorney “World Coin, Personal Information Protection Risk”
Pro-Ripple U.S. Attorney John E Deaton criticized WorldCoin (WLD) on Twitter for being vulnerable to privacy. Deaton shared an interview video with Sam Altman and WorldCoin CEO Alex Blania conducted by Cryptocurrency Influencer Pleditor and said, “Coin issuers do not know how to distribute WorldCoin in the United States due to regulatory uncertainty. Answered. This is a ‘signal to run away quickly’ to World Coin investors. He also said that authenticating identity through iris skin is extreme Orwellian (totalitarianism).”
Chinese stock market blockchain theme stocks closed higher
Chinese stock market A-share blockchain theme stocks closed higher. China’s Shenzhen Exchange Blockchain 50 Index rose 2.94% to 3238.71 points. The blockchain sector rose 1.87%, and the digital currency sector closed the day with a 2.06% rise.
Foreign Press: Binance CEO “Official launch of the new platform in Japan in August.”
According to financial breaking news media jin10, Binance CEO Changpeng Zhao said at the WebX 2023 video festival held in Tokyo, Japan, on the 25th that the new Japanese platform will officially start operating in August. Binance announced in May that it plans to acquire Sakura Exchange Bitcoin (SEBC), a local regulatory-eligible exchange in Japan, and open Binance Japan, a platform exclusively for local users.
Japanese Prime Minister Kishida “Blockchain can lead social change… The government needs to prepare
Japanese Prime Minister Fumio Kishida said at WebX 2023, a blockchain conference held in Tokyo, Japan, “Blockchain can lead social change from the existing Internet world to a new society. He said that the Japanese government should also strive to improve the environment in line with the advent of Web 3.” He also added that he expects various projects to be created in the future, saying that blockchain technology is an innovation that will help solve Japanese social problems. WebX 2023 will be held on July 25th and 26th.
Former CFTC Chairman “Government should pay attention to stablecoin regulation.”
Former U.S. Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad emphasized the need for stablecoin regulation in an interview with Jim Cramer on CNBC. “Stablecoins can serve as a bridge between the cryptocurrency world and the real world,” he said. If it solves the risk problem, stablecoins could bring a faster payment mechanism to the United States.”
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