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U.S. SEC Chairman recommends tightening regulations on cryptocurrency exchanges, Tesla suspends BTC settlement: crypto assets and blockchain news from 5/7 to 5/13


May 6 US SEC Chairman recommends tightening regulations on crypto asset exchanges

US Securities and Exchange Commission (SEC) Chairman Gary Gensler said on May 6 that the $ 2 trillion crypto asset market will strengthen investor protection in the United States, including restrictions on (cryptographic) exchanges. He said it was necessary.

May 6 Square, Bitcoin sales 11 times year-on-year

The Bitcoin business for the January-March quarter of the “Cash App” app operated by Square posted sales of $ 3.51 billion. Profit was $ 75 million, about 11 times higher than the same period last year. Square released a letter to shareholders on the 6th, revealing details of earnings.

Bitcoin business sales have nearly doubled from $ 1.76 billion in the previous quarter (October-December 2020). It was $ 306 million in the January-March period of 2020.

May 7 Goldman Makes Bitcoin Derivatives Trading Investor

Goldman Sachs, a US investment bank, has launched an initiative to give investors access to Bitcoin’s financial derivatives products.

Goldman offers forward transactions based on Bitcoin prices, called non-deliverable forwards (NDFs). Generally, in NDF transactions, physical delivery is not performed, and the difference between the NDF price determined by both parties and the physical price on the settlement date is settled as a difference.

May 7 GMO Coin, crypto asset trading value, number of accounts, and assets under custody increased significantly ── Performance indicators announced

GMO Coin, a cryptocurrency exchange, released performance indicators from January to March 2021 on May 7, and found that trading value, number of accounts, and assets under custody from customers increased.

The trading value of crypto assets increased significantly from 2.6 trillion yen in the same period of the previous year to 11.5 trillion yen, and the number of accounts exceeded 370,000, an increase of more than 20% from the end of the same period of the previous year. Assets under custody also increased by about 4.5 times from the end of the same period of the previous year to 128.9 billion yen, and a lot of funds were attracted as the price of crypto assets rose.

May 7 US Bank City Considers Cryptocurrency Services: Financial Times Report

Citigroup, a major US bank, has begun considering crypto asset (virtual currency) services. The Financial Times (FT) reported.

Itai Tuckman, Global Head of Exchange at Citi, said in an interview with FT that he is considering services including crypto asset trading, custody and funding.

May 7 US VanEck applies for Ethereum ETF to SEC

Investment fund Van Eck has filed an application with the US Securities and Exchange Commission (SEC) to form an exchange-traded fund (ETF) to invest in crypto assets Ethereum (ETH).

According to Van Eck’s proposal documents released on the 7th, the company is considering listing the Ethereum ETF in collaboration with the BZX exchange operated by the Chicago Board Options Exchange (Cboe).

May 10 Deecaret adds Ethereum to mining operations

Deecaret, which promotes research and development of privately-issued digital currencies while conducting crypto asset (virtual currency) exchange business, will start small-lot sales and operation services of Ethereum (ETH) mining equipment.

According to the announcement on the 10th, Deecaret will solicit sales and operation services for the graphic card “NVIDIA CMP30HX” manufactured by NVIDIA, a major US semiconductor company, from May 31st to June 13th.

May 11 eBay begins handling NFTs

The world’s largest marketplace, eBay, has approved the sale of non-fungible tokens (NFTs) such as trading cards, images and video clips on the 11th. Reuters reported.

May 11 South Korean Go Seddle wins Google’s AI, auctions with NFT

South Korea’s Lee Sedol, who won the game against the computer Go program developed by Google’s AI (artificial intelligence) company DeepMind in 2016, took the decisive move at the time, NFT (non-fungible token) Substitute token) is put up for auction.

May 11 SHIB coin, nicknamed “Doji Killer”, is booming in China

The new digital token “SHIB”, which is popular in China’s crypto asset industry and whose price is rising, is also known as “Doji Killer”. On May 10, when Binance began trading SHIB tokens, prices in Fobi, which had already been traded, nearly doubled.

May 11 US SEC Bitcoin “Very Speculative” ── ETF Approval Still Ahead?

The US Securities and Exchange Commission (SEC) released a document on the 11th stating that Bitcoin is a “very speculative” asset. How will the SEC’s views affect the ETF’s review process as Bitcoin exchange-traded fund (ETF) applications are being reviewed?

May 12 Ethereum’s market capitalization exceeds $ 500 billion (about 54.4 trillion yen) ── JP Morgan surpasses VISA

The market capitalization of Ethereum, a crypto asset whose price continues to rise, exceeded 500 billion dollars (about 54.4 trillion yen) on the morning of the 12th (Eastern Time). It exceeds the US bank’s largest JP Morgan Chase of about $ 480 billion and VISA’s about $ 469 billion.

May 12 ── Startburn raises 1.12 billion yen ── Global expansion with art x blockchain + NFT

Startburn (Bunkyo-ku, Tokyo), which uses blockchain to develop technology that promotes traceability and liquidity in art works, has raised 1,120 million yen. Accelerate the global expansion of business.

May 12 Enjin signs blockchain business agreement with Avex Technologies

Enjin, which builds an ecosystem using blockchain, announced on May 12 that it has signed a partnership agreement on the blockchain business in partnership with Avex Technologies.

May 12 GMO’s Japanese Yen Stable Coin to be listed on Binance Trust, a subsidiary of GMO Internet, has listed the stable coin “GYEN” linked to the Japanese yen on Binance, a cryptocurrency exchange. GYEN will start trading on Binance at 4 pm (Japan time) on the 12th. GMO announced on the same day.

May 12 Facebook’s Diem Partners with Silvergate Silver ── US Dollar Linked Stable Coin Issuance

Facebook-led Stablecoin Diem’s ​​proponent, the Diem Association, has partnered with Silvergate Bank, which works on crypto assets, to issue US dollar-linked stablecoins.

May 13 Bitcoin falls ── Elon Musk tweeted Tesla’s suspension of BTC payments

Tesla, a major US electric car company, will cancel the payment method using Bitcoin for car purchases. The company’s CEO Elon Musk announced on Twitter on the 12th.

Bitcoin prices have fallen about $ 2,000 after Musk’s tweet, down 6% in the last 24 hours.

| Sentence / Editing: coindesk JAPAN editorial department
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