Senior White House officials discuss encryption policy with encryption leaders on conference call, White House officials make no commitments
According to The Block, senior White House officials and crypto industry leaders held a conference call on Thursday to discuss future cryptocurrency policies. Government officials including U.S. Treasury Undersecretary Wally Adeyemo, National Economic Council Director Lael Brainard, White House Deputy Chief of Staff Bruce Reed, and Vice President Harris's Senior Advisor and Director of Legislative Affairs Christine Lucius attended the meeting. Meanwhile, crypto industry participants included Ripple executives Brad Garlinghouse and Chris Larsen, Uniswap CEO Hayden Adams, Stellar Development Foundation Denelle Dixon, Circle CEO Jeremy Allaire, billionaire Mark Cuban, Coinbase Chief Legal Officer Paul Grewal, and former White House Communications Director Anthony Scaramucci. It is reported that some industry insiders "expressed dissatisfaction" at the meeting, but they also talked about use cases and policy outcomes, including what regulators should seek, and focusing on jobs and economic impacts. According to people familiar with the matter, neither White House representatives nor Harris' advisers made any commitments.
Trump and Harris agree to debate on September 10
According to Cailian Press, US presidential election candidates Trump and Harris have agreed to hold a debate on September 10, hosted by the American Broadcasting Corporation (ABC).
Putin has signed a law legalizing cryptocurrency mining in Russia
According to Jinshi, citing TASS, Russian President Vladimir Putin has signed a law legalizing cryptocurrency mining in Russia. Only registered Russian legal entities and individual entrepreneurs are entitled to mine. Individuals who do not exceed the energy consumption limits set by the Russian government will have the right to mine digital currencies without registration. According to the document, foreign digital financial assets can be traded on Russian blockchain platforms, and the Central Bank of Russia will have the right to ban individual issuances if it finds a threat to Russia's financial stability. Earlier, Putin discussed the introduction and use of digital currencies with the government at a meeting on economic issues. He noted that this is a promising economic field and that Russia must "seize the moment" to quickly establish a legal framework and regulation, develop infrastructure, and create conditions for circulation.
Solana Spot ETF Gets Approval from Brazil’s Securities and Exchange Commission
According to Decrypt, the Brazilian Securities and Exchange Commission (CVM) has approved the spot Solana exchange-traded fund (ETF). The ETF was created by Brazilian asset management company QR Asset and operated by fund manager Vortx. It is currently in the pre-operational stage, awaiting approval from the Brazilian Stock Exchange B3. The ETF will reference the CME CF Solana USD Reference Rate created by CF Benchmarks and the Chicago Mercantile Exchange (CME). The media commented that with the approval of the CVM, Brazil has surpassed the United States in the competition to bring the Solana spot ETF to market.
The United States will establish a Bitcoin tax-free zone to promote the development of the digital economy
According to Cointelegraph, the United States is brewing a new proposal to make the United States a global leader in the digital economy by establishing a Bitcoin tax-free digital economic zone (DEZ). The proposal is led by the newly formed USABTC policy group and advocates a tax-free DEZ where Bitcoin can be traded and accumulated without paying capital gains tax, but tax is paid when redeemed. According to USABTC, the initiative can ensure the financial future of the United States by fostering a "resilient and innovative" economic environment, leveraging the potential of Bitcoin while maintaining the core status of the US dollar.
USABTC said that a direct government purchase of Bitcoin is neither feasible nor politically tenable. Therefore, it advocates the creation of a tax-free digital economic zone where Bitcoin transactions can be conducted tax-free while incorporating a taxed redemption process to ensure revenue generation. Providing tax-free capital gains within the zone can attract investors and promote wealth growth in a regulated environment. Imposing an exit tax on the exchange of Bitcoin back to traditional currencies can provide a new source of revenue for the government, which is beneficial to both federal and state finances. As part of the plan, USABTC envisions creating a pegged Bitcoin system on a Layer2 solution to ensure efficient and secure transactions.
The proposal also outlines a phased approach for the U.S. to implement a tax-free digital economic zone, beginning with an executive order from the President authorizing the use of the Exchange Stabilization Fund (ESF), a tool of the U.S. Treasury originally established by the Gold Reserve Act of 1934. Subsequent phases will involve drafting legal opinions, legislative work, and extensive public outreach to ensure broad understanding and support. The Internal Revenue Service (IRS) will also play a collaborative role in establishing a strong legal framework and approving the proposed tax framework. It also explicitly prevents excessive government intervention by incorporating self-custody rights into law, an ongoing concern for many in the cryptocurrency community. As currently planned, the implementation phase of the USABTC program is expected to begin in 2025. If all legislative and regulatory approvals are obtained, the DEZ will be fully operational in 2026.
Carnegie Mellon University’s Zico Kolter joins OpenAI’s board of directors and serves on the safety and assurance committee
According to OpenAI official news, ChatGPT free users can now use DALL·E 3 to create up to two pictures a day. This feature allows users to create images, personalized cards, or display visual concepts for presentation slides through ChatGPT. OpenAI also released the GPT-4o system card, outlining how to deal with cutting-edge model risks by preparing the framework and emphasizing safety protection measures in new audio features.
In addition, Carnegie Mellon University's Zico Kolter joins the OpenAI board of directors, providing technical and AI safety expertise and joining the Safety and Security Committee. Bret Taylor, chairman of the OpenAI board of directors, said in welcoming Zico to the board: "Zico has a deep technical understanding and perspective on AI safety and robustness, which will help us ensure that general AI benefits all of humanity."
Coinbase International will launch Degen, EOS and SATS perpetual futures contracts
According to the official announcement, Coinbase International Exchange and Coinbase Advanced will add support for Degen, EOS and SATS perpetual futures contracts. The DEGEN-PERP, EOS-PERP and 1000STATS-PERP markets will be open on or after 17:30 on August 15, 2024, Beijing time.
The GMX community passed the proposal to "change the income distribution model to repurchase and distribute GMX" and will soon be implemented
GMX said on the X platform that the proposal to "change the revenue distribution model to repurchase and distribute GMX" has received majority support from the GMX DAO and is currently being queued for execution.
Franklin Templeton’s Tokenized Money Market Fund Expands to Arbitrum
According to CoinDesk, Franklin Templeton announced that it has launched its OnChain U.S. Government Money Market Fund (FOBXX) on Ethereum through Layer2 blockchain Arbitrum. This is the third blockchain where the fund's shares can be traded. Previously, the fund had been tokenized on another Layer2 network, Stellar and Ethereum. The company said that this expansion will help decentralized finance integrate into the traditional financial system and help Franklin gain new audiences for FOBXX.
Launched in 2021, the fund is the first to use a public blockchain to record transactions and ownership. With a market cap of $420 million, it is the third-largest on-chain product pegged to U.S. Treasuries, according to rwa.xyz.
Kaiko Report: The total amount of Bitcoin held by miners has dropped to the lowest level in three years
According to Bloomberg, according to a report by cryptocurrency research firm Kaiko, as of August 3, the total amount of bitcoins held by miners has dropped to about 1,510,300, which is about 2.4% lower than the highest record in December 2020. At recent prices, this part is worth about $86 billion, accounting for about 8% of all circulating bitcoins.
Data shows that miners have been selling tokens since the price of Bitcoin began to rise in late 2023, long before the most recent "halving" in April. The proceeds from the sale are usually used by companies to cover operating costs, and mining companies have received fewer new token rewards since the last four Bitcoin software upgrades. Kaiko said that the increase in network fees after the halving briefly alleviated the loss of revenue for miners, but it was only short-lived, and the average fee has dropped from a high of $143 after the halving to $2.
Vitalik.eth transferred 3,000 ETH to a multi-signature wallet 20 minutes ago, which may be used for donations
According to Lookonchain monitoring, Vitalik.eth transferred 3,000 ETH, worth approximately $8.05 million, to a multi-signature safe wallet 20 minutes ago, which may be used as a donation.
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