PA Weekly Issue 89

Regulatory Trends

1. The central bank will continue to steadily advance the research and development of legal digital currency in 2020.

2. The central bank plans to introduce a series of regulatory rules on personal financial information protection, blockchain, and other financial technologies.

3. The key tasks of the Internet Finance Association in 2020 include research on application scenarios for legal digital currency, among others.

4. The State Administration of Foreign Exchange will promote the construction of a cross-border financial blockchain service platform.

5. The China Banking and Insurance Regulatory Commission will carry out publicity to prevent illegal fundraising during the Spring Festival, focusing on key areas such as blockchain.

6. The State Cryptography Administration will no longer accept applications for commercial password product varieties and models from January 1, 2020.

7. The Blockchain Branch of the China Software Industry Association has established a drafting group for the "Anti-Money Laundering Standards for Blockchain Industry Applications."

8. Nanjing encourages the landing application of the blockchain industry and supports leading enterprises in building alliance chains.

9. The Shenzhen digital currency pilot will enter service scenarios such as transportation, education, and healthcare.

Industry News

1. Huobi's Li Lin steps down as the legal representative and director of the New Third Board company, Juchain Group.

2. Janke Tuan refutes rumors of Bitmain layoffs, stating that they firmly oppose company layoffs.

3. BiUP shareholders withdraw investment from blockchain technology, and the scope of operations removes "agency bookkeeping" and other services.

4. In December, 9 typical security incidents occurred, including in areas such as DApps, public chains, and wallets.

5. Poloniex clarified that there was no data breach, and that the request for customers to reset their passwords was solely to ensure account security.

6. The financing platform for small and medium-sized enterprises in Guangdong Province has been launched, simplifying the loan application process by 60% based on blockchain technology.

7. Razer's financial branch applies for a digital banking license in Singapore, and its stock price rises over 10%.

8. The Ethereum mainnet activated the Muir Glacier upgrade, reducing the average block time by nearly 25%.

9. The market value of Chizi City listed trading reached HKD 3 billion, with Huobi Capital as its cornerstone investor.

10. NGC Ventures launches its second fund, expected to be $25 million in size.

11. Alibaba DAMO Academy predicts that large-scale production-level blockchain applications will enter the public in 2020.

12. Ethereum research scientist Virgil Griffith has been granted bail and has been dismissed from his position.

13. The Shanghai Futures Exchange and Qingdao Customs plan to launch a blockchain-based futures regulatory information platform.

14 insurance companies have joined the insurance risk control blockchain platform.

15. Guangzhou Metro issues the first blockchain electronic invoice.

Investment and Financing Progress

1. Youbi Group received millions in notable angel investment.

2. Snow Road receives $5 million strategic investment.

3. Baanx has raised nearly $785,000 on Seedrs.

4. The decentralized live streaming platform DLive has been acquired by Tron and joined the BitTorrent ecosystem.