The Hong Kong Monetary Authority (HKMA) is expected to announce details of the launch of the digital renminbi (e-CNY) soon, possibly on Friday. The news indicates that Hong Kong has taken another important step in advancing the field of digital currency. The following is an objective analysis of this event:
1. Review of the pilot project: Under the guidance of the People's Bank of China, the Hong Kong Monetary Authority and the Digital Currency Research Institute launched a pilot project for cross-border payments in digital RMB at the end of 2020. This project has undergone two rounds of technical testing and business verification, covering a variety of consumption scenarios, such as mainland visitors to Hong Kong using digital RMB for consumption at Hong Kong merchants, Hong Kong users exchanging digital RMB through local bank apps, and using digital RMB for payments at offline and online merchants in both places.

OCEAN Since the beginning of 2023, the price of OCEAN has been rising. Initially, it struggled to break above the descending resistance trend line that existed since the all-time high. However, after five failed attempts, OCEAN finally broke out in October and has accelerated its development since then. This week, OCEAN hit a new yearly high of $0.88, with wave numbers supporting the rise and breakout. In fact, Elliott Wave Theory identifies recurring long-term price patterns and investor psychology that help them determine the direction of a trend. MIA orchestrated a classic pump and dump amid the sensational hysteria surrounding the Blast Meme coin. With a current market price of $0.068 (representing a 24-hour change of -94.5%), the MIA token quickly gained traction after its launch on February 29 at 12:00 UTC. The initial price action drove a 22,525% gain in just 5 hours, allowing early backers to reap huge gains as the price topped out at $4. However, it all seemed too good to be true as the sudden dumping move hit high-risk traders hard, triggering a chain reaction that dropped to current price levels. MIA has a market capitalization of $67,000 left—the rapid rise and sell-off appears to be over. CRO In February, Cronos strengthened its collaboration to further increase its adoption. This marks an increase in adoption. Notably, Cowboy Labs has provided an update on their upcoming game, leveraging the power of Unreal Engine. This caught the attention of the gaming community. Additionally, CroSkulls launched Project Kimera, marking the next phase of their gaming protocol expansion efforts. Heading into March, Cronos experienced a significant spike in market momentum. In the past 7 days alone, it has reached an astonishing 40.72%. The surge reflects the bullish sentiment surrounding the Cronos project and was further supported by its trading performance. Furthermore, it has remained above the 200-day simple moving average as the northward move continues. Meanwhile, recent market data shows that Cronos has had 18 green trading days out of 30, accounting for 60% of positive trading days.Combined with its position near cycle highs, this suggests a strong upward trend in its price trajectory. AVAXAVAX has been going through a period of recovery, with market sentiment showing signs of optimism, and despite a slow start to 2024, AVAX has been strengthening, driven by a recovery in the broader market and increased investor confidence. This recovery is noteworthy given that AVAS has maintained its dominance above $50 even amid the market’s volatility. Avax is currently trading around $40, showing signs of a bullish reversal. On the back of the broader market recovery, there is a possibility of breaking through the $50 mark and possibly reaching $60. Looking to the future, AVAX is gaining momentum. It is predicted that it may reach a high of $80 by the end of 2024. #BTC #币圈生存 #数字货币市场

Recently, U.S. Senators Ron Wyden and Cynthia Lummis sent an open letter to Attorney General Merrick Garland, questioning his approach to tracing encryption software services. This incident has triggered a new round of debate on digital asset legislation.
In the letter, the two senators pointed out that the action of treating non-custodial crypto services as unregistered money transmission businesses violates existing interpretations. They emphasized that relevant regulations require that the service provider must take over the funds to be considered a transmitter, and the software itself should not be held responsible for illegal finance. This action is considered to be likely to treat software developers as criminals, raising serious concerns about freedom of speech.

advantage:
1. Reduce transaction costs;
Transactions in digital currencies do not need to go through the banking system, so transaction costs can be reduced. According to the People's Bank of China, the transaction cost of digital RMB is only one thousandth of that of traditional bank card transactions. This will help improve the efficiency of the payment system and reduce the burden on merchants and individuals.
2. Improve payment convenience;
Digital RMB supports multiple online and offline payment scenarios, and users can make payments anytime and anywhere. In addition, digital RMB also supports quick payment functions such as touch and pay, further improving the convenience of payment. According to statistics from the People's Bank of China, the average daily number of digital RMB transactions has exceeded WeChat Pay and Alipay.

Imagine if the A-share market is a serious, formally dressed banker, then the digital currency market is like an Instagram influencer wearing a neon T-shirt and holding a selfie stick. The A-share guy might push up his glasses in the office and analyze financial statements seriously; while the digital currency guy is at a beach party at the seaside, swaying to electronic music, ready to surf at any time.
A-shares are like old friends that give you a sense of security and make you feel that everything is in order and on schedule. However, for those who seek excitement and love adventure, the stability of old friends may seem a bit boring. In contrast, digital currency is like a new friend that makes your heart beat faster and you don’t know what will happen in the next second. It may bring you the thrill of doubling your wealth at one moment, and it may let you experience the thrill of "running out of money" at another moment.

Hey, fellow crypto friends, have you ever thought that one day digital currencies like Bitcoin may no longer be subject to capital gains tax? Sounds like a fantasy, right? But former President Trump actually proposed such a plan!
Imagine if you could buy a cup of coffee or a snack with Bitcoin, without worrying about paying extra taxes due to asset appreciation. Wouldn't that be great? Trump recognized this point and proposed eliminating capital gains tax on domestically produced digital currencies, such as Bitcoin and XRP, to promote their everyday use and simplify transactions.