consistency

The chairman of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, posted on the X platform stating that the regulatory agency has released a Frequently Asked Questions (FAQ) document regarding crypto assets and blockchain-related businesses, further clarifying compliance guidelines for registered entities and trading firms.It is reported that the content addresses issues related to tokenized collateral and digital assets as margin, supplementing the explanations of two previously released staff letters (tokenized custody guidance and digital asset margin no-action relief guidance), providing market participants with a clearer operational framework.Mike Selig added that as "Project Crypto" becomes a jointly promoted initiative, aligning with the U.S. Securities and Exchange Commission (SEC) is also an important step in promoting clarity and uniformity in crypto regulatory rules.

CZ shared his early career experiences with Chamath Palihapitiya on the All-In podcast, including his work at Blockchain.info (now Blockchain.com) and OKCoin, as well as his deep understanding and value choices in the early Bitcoin industry.Joining Blockchain.info: CZ mentioned that the team had only three members at the time, and he served as the Vice President of Technology. The team later expanded to 18 members, but a restructuring by the CFO led to changes in corporate culture, causing several developers, including CZ, to leave voluntarily. He emphasized that he learned about remote work, the concept of paying salaries in Bitcoin, and how to achieve rapid user growth to around 2 million through "guerrilla" marketing (such as a 150-page post on BitcoinTalk.org).Joining OKCoin: After leaving Blockchain.info, He Yi contacted CZ to invite him to join OKCoin, initially offering a 5% equity stake, but BTC China offered 10%, prompting OKCoin to match the offer within three hours. CZ ultimately chose to join OKCoin in Beijing as CTO, taking on greater business responsibilities.Reasons for leaving OKCoin: CZ revealed that the main reason was a mismatch in culture and values. For example, "It mainly comes down to a mismatch in culture and values; there are some practices I cannot agree with. A simple example is: when they hold events or promote fee discounts, the advertisements make it sound like everyone can enjoy it, but in reality, you have to actively apply to receive it, and it doesn't take effect automatically. Details like this made me uncomfortable." CZ decided to leave in early 2015.

ChainCatcher news, according to Cointelegraph, on September 26, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) shared a plan to elevate their over-the-counter reporting requirements to global standards after reviewing responses to a consultation document from March 2024. They intend to adopt the reporting requirements set by the European Securities and Markets Authority (ESMA) for crypto over-the-counter (OTC) derivatives.Relevant parties and investors in Hong Kong stated that investments in crypto OTC derivatives cannot be classified as part of the existing traditional five asset classes—interest rates, foreign exchange, credit, commodities, and equities. Some stakeholders in Hong Kong suggested using Digital Token Identifiers (DTI) "to clearly identify the crypto asset underlying OTC derivatives." In response, the HKMA and SFC pointed out that ESMA has incorporated DTI into its reporting framework as of October 2023. Currently, DTI has become a core reference point for European crypto asset service providers.When mentioning the need for Unique Product Identifiers (UPI) in trade reporting, Hong Kong regulators revealed plans to implement similar requirements in their jurisdiction in the near future: "Given that Digital Token Identifiers have been included as permissible values in the data field 'Base ID (Other)' in the upcoming CDE Technical Guidelines Version 4 consultation, we will adapt the use of DTI in our reporting requirements." However, the authorities will continue to monitor the outcomes of orders issued by other jurisdictions and will adopt similar systems if necessary. Hong Kong authorities suggest implementing the new reporting requirements by September 29, 2025.

ChainCatcher news, Jupiter co-founder Meow posted on social media that the J4J plan is a large-scale experiment in community consistency.Previous report, Meow published the draft of the J4J plan, with the main proposals including:· Proposing to reduce the total supply of JUP by 30%· The team will voluntarily cut 30% from their allocation· Correspondingly reduce Jupuary emissions by 30%

ChainCatcher news, according to CoinDesk, a report released by the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) warns that countries need to harmonize their regulatory frameworks for stablecoins. The FSI was jointly established by the Bank for International Settlements and the Basel Committee on Banking Supervision, with the mission to assist regulatory authorities around the world in strengthening their financial systems.The FSI report states that different jurisdictions have varying definitions and classifications of stablecoins, which may pose risks to financial stability. There are also discrepancies in the disclosure requirements for reserve assets that stablecoin issuers hold to maintain the value of cryptocurrencies relative to their reference currencies. A consistent regulatory framework and its global implementation are crucial for addressing stablecoin risks, preventing regulatory arbitrage, and ensuring a level playing field in the digital asset ecosystem.

Chain Catcher news reports that in light of recent controversies regarding the legality of virtual currencies, Jiemian News recently stated in its report that multiple cases regard virtual currencies themselves as virtual property. However, in practice, virtual currencies inevitably circulate in the market due to their attributes of trading, payment, and investment. How to define the legality and compliance of virtual currency-related businesses has brought a lot of controversy to court judgments.Guo Zhihao, a partner at Beijing Yingke (Shenzhen) Law Firm, stated in an interview that the reason for the serious logical contradictions in current virtual currency cases lies in the fact that the legal definition of virtual currency is protected network virtual property, while the policy definition is an unfavorable factor for financial stability.Guo Zhihao indicated that strictly speaking, policies should not interfere with the judiciary, but in reality, many judicial organs have to consider policy factors; coupled with the absence of specific laws or judicial interpretations regarding virtual currencies, this ultimately leads to the emergence of contradictions. He believes that a major prerequisite for clarifying virtual currency businesses is to first achieve unity between law and policy and to introduce specific legal regulations. (Jiemian News)