Overview of Blockchain Industry Trends for the Week

Regulatory Dynamics

• Multiple departments in Beijing jointly issued a risk warning, urging caution regarding investment risks in the virtual currency market. It is required that no activities such as the sale or trading of virtual currency business be conducted.
• Sichuan Ganzi Prefecture convened a meeting with Bitmain and 10 other companies to discuss the cleanup of Bitcoin mining sites.
• The Bank of Korea will establish a special task force to study central bank digital currency.
• The European Central Bank will launch the distributed ledger project EUROchain based on the R3 Corda platform.
• Uzbekistan revises cryptocurrency regulations, citizens can only sell tokens but not purchase them.
• Paraguay has launched an investigation into the domestic cryptocurrency industry and will introduce relevant regulations next year.
• The Central Bank of Russia is testing stablecoins in a regulatory sandbox.
• The French Financial Markets Authority has issued new regulations regarding the licensing of digital asset service providers.
• Germany will require digital asset custodians to apply for a license.
• The Supreme People's Procuratorate elaborates on ten types of illegal activities related to Blockchain.

Industry News

• Three exchanges have successively shut down, with at least 12 going out of business or under investigation in two months.
• The Banking and Insurance Regulatory Commission encourages banking and insurance institutions to explore the application of technologies such as Blockchain in foreign trade financial services.
• The Shenzhen Stock Exchange has compiled the Shenzhen Blockchain 50 Index, which rose 1.15% on its first day.
• Shanghai Customs will use Blockchain and other means to achieve comprehensive and all-round supervision.
• Rakuten in Japan allows users to exchange points for cryptocurrencies.
• Youtube deleted videos from multiple industry influencers, categorizing cryptocurrency-related content as "harmful information".
• The U.S. prosecution denied the bail application of Ethereum developer Virgil Griffith.
• Tencent established a digital currency research project team.
• The US COSO will release blockchain security guidelines next year.
• The "U Treasure Coin" major virtual currency pyramid scheme has been cracked, accumulating 1.17 billion yuan in less than two years.
• Baidu Research Institute's top ten technology trend predictions for 2020: Blockchain will be integrated into more application scenarios.
• Beijing Chaoyang Procuratorate: Virtual currency scams continue unabated.
• The national first "Blockchain Technology Capability Test (Beginner)" is launched.
• The construction of the insurance risk control Blockchain platform has officially started, with 14 insurance companies joining.

Investment and Financing Progress

• Cryptocurrency broker BitOoda has completed a $7 million seed round of financing.
• Venture capital fund Dragonfly invests in the public blockchain Nervos.
• Yunxiang has obtained tens of millions in A++ round financing.
• The founding team of Maskbook has received strategic investment from HashKey Capital.
• The foundation under China Shipbuilding Industry Corporation invests in the blockchain streaming media platform NewStar.
• Fan Chain FANS received a strategic investment of tens of millions from the Malta GODFUND fund.
• Huobi Japan completed a strategic investment financing of $4.6 million.
• BigONE announced the completion of its acquisition of the domain name and BaseFEX exchange.