Tuesday News Roundup

Tuesday News Roundup

Top News from Friday to Today

Multicoin Capital-backed DeFi protocol dForce loses ~$25M total locked value in an exploit. CEO Mindao Yang has attempted to provide more transparency and shared daily updates since the attackhttps://bit.ly/2VK3lpW

Singapore’s tax authority has updated its guidance regarding digital tokens, including the following: ICO founder’s rewards to be treated as capital asset or revenue, exempting “hobbyist” miners from taxation, and capital gains on mined tokens to be exempt from tax. https://bit.ly/3bpdO0r

Bank of China says digital Yuan will not cause inflation. https://bit.ly/3alvokz

A Chinese EOS-based wallet app reportedly shuts down, leaving $52M in user funds inaccessible. https://yhoo.it/3cDTaKp

Crypto.com and The Economist teamed up to survey more than 3,000 consumers on issues concerning crypto assets, the survey found far greater trust in central bank digital currencies, or CBDCs, than decentralized cryptocurrencies — indicating that crypto is still yet to gain widespread trust from the public. https://bit.ly/2VHMRyC

?  Exchange and Markets News

BNB retakes $16 as Binance completes huge token burn. https://bit.ly/2VIn2yb

HDR Global Trading Limited, the operator of exchange BitMEX, is donating a total of $2.5 million to four organizations working to fight the coronavirus pandemic. https://bit.ly/2yyWmbd


Arrano Capital, the blockchain arm of Hong Kong-based asset manager Venture Smart Asia Limited, has launched the country’s first regulated bitcoin fund- targeting $100 Million. https://bloom.bg/2VlPlni


The People’s Bank of China, the country’s central bank, has said that its digital currency could be used in the 2022 Winter Olympics event. https://bit.ly/3bq5Bt5

Chainalysis: PlusToken did not cause the “Black Thursday” sell-off of March 12. https://bit.ly/34S96WH

? Business

Tencent’s digital bank WeBank is exploring the integration of the DAML smart contract language for its consortium blockchain FISCO BCOS — the chain that will undergird China’s national Blockchain-Based Service Network (BSN).  https://bit.ly/3aoN2Ee

A new plus Token-esque Ponzi scheme has surfaced in China, nets roughly $10m in Bitcoin to stop “cruel cosmic entropy”. https://bit.ly/2XPN0mb

Japanese Advertising Giant Promotes Content Creators Using Blockchain- Dentsu and Kadokawa aim to make it easier for people using livestream with possibly copyrighted material by using blockchain. https://bit.ly/3arDhVM

China digital currency and blockchain network roundup: China’s ahead of the Game with Digital Yuan Kicks into Action. https://bit.ly/2xJESsO 


Malaysian authorities have arrested 14 Chinese men for operating a Bitcoin investment scam and violating the Immigration Act. https://bit.ly/3eBNWR1

Japanese regulators are set to tighten restrictions on crypto custodians in the country. Come May 1, it will be the enforcement date for the updated Japanese Payment Services Act (PSA) which will bring about more defined regulations and framework for Japanese crypto exchanges and Virtual Assets Service Providers. https://bit.ly/2VKgCP3

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