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Monochrome Exchange launched the MCR IEO, raising over 5.5 million USDT

According to monitoring by Lookonchain, Monochrome Exchange, an Australian digital asset management company founded by Jeff Yew, former co-founder and CEO of Binance Australia, has launched the MCR token IEO, raising over 5.5 million USDT to date.The total supply of MCR is 210 million tokens, of which 5%, or 10.5 million tokens, are allocated for this public IEO. The IEO tokens will be locked for 1 month after the TGE, followed by a 3-month linear release. MCR holders can enjoy discounts on spot and derivatives trading fees, priority subscription rights for Digital IPOs and token issuances, and can earn rewards through staking, enhance Launchpad quota weight, and participate in node programs, while also engaging in platform governance through Monochrome DAO.20% of the platform's net profit will be used for open market repurchases of MCR and destruction each quarter, while 25% of the Digital IPO fee income will be included in the quarterly repurchase and destruction fund, aiming to continuously reduce the circulating supply of MCR through platform business growth.On September 13, 2021, Monochrome announced the completion of a $1.8 million Series A financing round, co-led by Litecoin founder Charlie Lee, Blockstream Chief Strategy Officer Samson Mow, former Binance Chief Financial Officer Wei Zhou, and founders of Blueshyft and DeFi protocol Synthetix, Kain Warwick, with a post-investment valuation of approximately $15 million.On August 18, 2022, Monochrome Asset Management obtained the country's first financial services license (AFSL), which will be used to issue cryptocurrency-related exchange-traded funds (ETFs).

first_img The U.S. House of Representatives' fundraising committee has passed the first federal cryptocurrency tax framework

The House Committee on Ways and Means passed the "Digital Asset Tax Clarification Act" with a vote of 38 in favor and 5 against, establishing the first federal tax framework for digital assets. The bill sets a threshold for taxation, stating that cryptocurrency transactions with network or transaction fees not exceeding $10 are exempt from taxes, but this exemption does not apply to service providers conducting transactions on behalf of others, and the relevant provisions will not take effect until December 2027.The bill also requires the Treasury Department to establish a voluntary disclosure program for digital assets within 12 months of the bill's enactment, allowing eligible taxpayers to amend previous filings and settle owed taxes, interest, and penalties. The bill specifies that income from mining and staking will be taxed as ordinary income, while allowing certain investment trusts to stake without affecting their tax status. The previous version included an option for deferred income recognition, but that provision has been removed, and the issue of income recognition timing remains unresolved.Committee Chairman and Republican Congressman Jason Smith called it a historic moment for the committee. This vote took place the day after the Senate's procedural vote on the "Clarity Act" failed (49 votes to 50), with Democrats opposing the bill mainly due to ethical concerns raised by Trump's cryptocurrency interests. The House will recess until after the November elections, and the bill may advance during the lame-duck session, with public attention shifting to the Senate Finance Committee.

Former New York Federal Reserve President Dudley: The reasons for raising interest rates are sufficient, and it may initiate a series of tightening measures

Former New York Fed President Dudley stated that the reasons for the Federal Reserve's current tightening of monetary policy are quite sufficient, and the interest rate hike in September may not be a "one-time action," but rather the beginning of a series of continuous rate increases. Dudley pointed out that the U.S. inflation rate remains persistently above the Fed's 2% target, the labor market remains relatively stable, and the core CPI rose 0.3% month-on-month in August, further dispelling market concerns about a cooling of inflation.In his view, the Federal Reserve is currently clearly deviating from its dual mandate goal regarding price stability, and there are still further upward risks for inflation in the short term. Dudley expects that the Federal Reserve may provide a median expectation of two cumulative rate hikes of 25 basis points each for 2026 in the Summary of Economic Projections (SEP) to be released in September. He also noted that over the past few decades, the probability of the Fed raising rates again after a single hike has been as high as 85% to 90%, so the market should not view this round of actions as "a mere taste."Additionally, Dudley believes that if Waller decisively raises rates, it would also help demonstrate his determination to curb inflation and the Fed's policy independence. He warned that Waller should not "outsource" monetary policy to the financial markets, and the future path of interest rates should be determined by the Fed based on economic data and its own policy judgments, rather than catering to market expectations.

first_img India's SEBI tokenized bond pilot fundraising exceeds 100 million USD

The Securities and Exchange Board of India (SEBI) announced on Thursday that three issuers raised a total of 102.5 million rupees (approximately 10.72 million USD) through its Demat 2 pilot program by issuing tokenized corporate bonds. This pilot utilizes distributed ledger technology to issue, hold, and settle corporate bonds.REC Ltd. was the first to issue on September 7, raising 50 million rupees (approximately 5.23 million USD) from 18 investors; L&T Ltd. raised a similar amount from 4 investors on September 9, and IIFL raised 25 million rupees (approximately 2.6 million USD) from 1 investor on the same day. SEBI stated that the pilot infrastructure records corporate bonds in the form of native digital tokens on a distributed ledger owned by the depository and achieves atomic settlement of bonds and funds through a unified market interface connected to the Reserve Bank of India’s wholesale central bank digital currency.This mechanism can reduce settlement risks arising from the separation of securities and funds transfer, allowing issuers to receive funds on the same day as the bidding, whereas the existing process typically takes two to three days. The regulator noted that the information of bondholders on the shared ledger is instantly visible to all authorized entities, and at maturity, e₹ payments will go directly into the bondholders' central bank digital currency wallets. SEBI clarified that this pilot does not create a new category of corporate bonds; tokenized bonds retain the same ISIN, issuer obligations, coupon, maturity, covenants, ratings, and investor rights as traditional paperless bonds. The pilot will be implemented in three phases, with the first phase covering institutional issuance, while secondary trading and retail access will be conducted in subsequent phases within SEBI's regulatory sandbox.
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