Golden Finance reported that the Central Bank of Brazil announced plans to regulate crypto assets, including stablecoins. This year, it will consider formulating stablecoin rules for payments and foreign exchange, but it described the work as "internal planning." The central bank will launch a second consultation around virtual asset service providers (VASPs), including the rules and authorizations they must comply with. In addition, it plans to provide a supplementary framework that includes prudential supervision and VASP reporting. The regulatory proposal will be finalized in 2024, with the main goal of protecting investors from fraud and scams. The Central Bank of Brazil is also keen to ensure that VASPs comply with anti-money laundering (AML) and similar compliance procedures. Prior to this, the central bank had concluded its first consultation in January and explored a variety of cryptocurrency-related topics. These include asset isolation, risk management, cybersecurity, and disclosures that reflect the comprehensive nature of the consultation.

DeFi Data

1. Total market value of DeFi tokens: $88.61 billion

DeFi total market value Data source: coingecko

2. The trading volume of decentralized exchanges in the past 24 hours was $4.30 billion

The transaction volume of decentralized exchanges in the past 24 hours. Data source: coingecko

3. Assets locked in DeFi: $94.437 billion

The top ten rankings of DeFi projects with locked assets and locked-in amounts. Data source: defillama

NFT Data

1. Total NFT market value: $4.515 billion

NFT total market value, top ten projects by market value Data source: Coinmarketcap

2. 24-hour NFT trading volume: $2.278 billion

NFT total market value, top ten projects by market value Data source: Coinmarketcap

Author: a16z; Translation: Golden Finance xiaozou

Later this month, the U.S. House of Representatives will vote on an important bill (HR 4763), one that we should all pay close attention to.

The bill, called the Financial Innovation and Technology for the 21st Century Act (FIT21), could make U.S. crypto regulation more visible to everyone in the industry. If passed, it would:

Providing a safe and efficient way for blockchain projects to launch in the United States;

Clarify the boundaries between the SEC and the CFTC, i.e. who regulates cryptocurrency matters and whether digital assets are securities or commodities;

12:00-21:00 Keywords: Prometheum, COPA, Nigeria, Blockchange 1. Vitalik: The crypto-economic experiment Orb Land is really cool; 2. Digital asset company Prometheum launches Ethereum custody service; 3. The ruling of COPA v. Craig Wright has been announced, and the latter repeatedly lied to the court; 4. Venture capitalists are expected to invest approximately $12 billion in crypto projects in 2024; 5. CoinShares: Digital asset investment products received $932 million in inflows last week; 6. Nigerian court rejects Binance director Tigran Gambaryan's application for bail; 7. Cumberland DRW-associated address received another 100 million USDT and deposited it in multiple CEXs; 8. Blockchange's first fund has completed the distribution of a total of more than $530 million to investors; 9. Genesis released the claim ratio, and the claim rate for accounts with a balance of more than $10 million is between 97-110%.

On May 20, according to Fortune magazine, last Friday, Prometheum, a compliant digital asset company, launched Ethereum custody services. This move is noteworthy because Prometheum operates in a way that classifies the token as a security and is subject to supervision by the U.S. Securities and Exchange Commission (SEC). The launch of the custody service seems to verify the position of Gary Gensler, chairman of the U.S. SEC, who refuted the broader crypto industry's view that the existing regulatory system is sufficient and effective. This eliminates a lot of arguments about the inability to operate under current laws, said Aaron Kaplan, co-CEO of Prometheum Inc., the parent company of the entity that launched the Ethereum custody service. Prometheum Inc., a subsidiary of Prometheum that holds a broker license, has soft-launched the product with a small number of companies and plans to fully launch the custody service in early June.