CBDCs and private digital currencies:

CBDCs are seen as a way for central banks to keep central bank currencies relevant in a world where the use of physical money is declining. CBDCs may pose a competitive challenge to decentralized cryptocurrencies, but their primary purpose is not to eliminate private digital currencies.

The balance between cash, financial inclusion and consumer protection:

The decline of cash, financial inclusion, and the lack of consumer protection in digital asset markets are important factors to consider. Achieving this balance will take several years, and trials have not yet begun.

Privacy and Regulatory Challenges of Digital Currencies:

In all digital currencies, balancing privacy and necessary regulation is a challenge. The adoption of digital currencies like the digital dollar has social decision-making implications for the anonymity and privacy of business transactions.

Privacy concerns:

Privacy concerns about a digital pound include the potential for large amounts of data to be generated, allowing for widespread profiling and surveillance. However, developers argue that a digital pound could still offer more privacy than holding a bank account, but not as much as cash.

Tracking capabilities and privacy maintenance:

Similar to any form of digital currency, a digital pound will have some degree of tracking capabilities and increased surveillance. Privacy can be maintained by adding privacy-enhancing technologies and regulatory oversight.

Risk of bank runs:

Critics have warned that caps on Bitcoin holdings could prompt bank runs during times of economic uncertainty. Balanced holding caps, insurance schemes and regulatory oversight can prevent deposit outflows from commercial banks.

A public consultation in the UK on a digital pound called Britcoin has sparked public backlash and widespread concern about the possible consequences for privacy and cash. Respondents expressed concern that a digital pound could be used for surveillance and prompt bank runs, as depositors could more easily move money out of commercial banks in times of crisis.

Reasons for launching digital pound:

The UK government wants to keep up with innovation in the digital society and payments industry. At the same time, it also aims to compete with other regions globally for the use of digital currencies.

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#Razer allegedly hacked, data offered for sale:

A hacker claimed to have stolen Razer's source code, encryption keys, database, and backend access logins, and offered to sell the data for $100,000 in Monero.

Razer is investigating the potential breach and has reset all user accounts and asked them to change passwords.

Razer dealing with consequences of 2020 data leak:

Razer is still dealing with the consequences of a data leak that took place in 2020, where personal details of around 100,000 users were exposed.

IT vendor Capgemini is appealing a $6.5 million award granted to Razer in December 2020 as a result of the leak.

BlackRock has a 50% chance of getting its spot Bitcoin ETF approved: $BTC

Bloomberg senior ETF analyst Eric Balchunas predicts that BlackRock has a 50% chance of getting its spot Bitcoin ETF approved.

The SEC may look more favorably upon BlackRock’s #ETF filing as a way to “save face” by allowing an ETF from a “trusted ‘adult' TradFi” firm instead of #Grayscale.

Grayscale has a 70% chance of winning its lawsuit against the SEC:

Bloomberg senior litigation analyst Elliott Stein believes that Grayscale has a 70% chance of winning its lawsuit against the SEC over the company’s bid to convert the Grayscale Bitcoin Trust (GBTC) to a Bitcoin #ETF.

Grayscale’s odds increased from 40% after the parties’ oral arguments reached completion because “all three judges on the panel appeared to side with Grayscale” based on their “lines of questioning,” Stein said.

💼 Why can spot Bitcoin ETFs provide greater protection for investors? $BTC

Professional custodians and monitoring protocols eliminate the need for investors to rely on loosely regulated offshore institutions.

This allows investors to better protect their principal investment in Bitcoin. 🔒

Positive developments in the cryptocurrency investment space! 🌟 #比特幣 #ETF #投資者保護

🔒 Why Spot Bitcoin ETFs can provide enhanced investor protection? $BTC

💼 With professional custodians and surveillance agreements, investors no longer have to depend on loosely regulated offshore vehicles.

🛡️ This ensures greater security for their principal investments in Bitcoin.

A positive development for the crypto investment landscape! 🌟 #Bitcoin #ETF #InvestorProtection

🚀 BlackRock ignites competition among investment firms! $BTC

BlackRock recently submitted an application for a spot Bitcoin ETF, inspiring other investment firms to follow suit.

Eric Balchunas, senior ETF analyst at Bloomberg, noted that BlackRock has a strong track record of SEC approval of ETFs.

Cryptocurrency investors may have reason to be optimistic about the prospects of a spot Bitcoin ETF. 🌟 #BlackRock #比特幣 #ETF

🚀 BlackRock's move ignites the competition! $BTC

BlackRock's recent filing for a spot Bitcoin ETF has sparked a wave of interest among other investment firms.

Eric Balchunas, Senior ETF Analyst at Bloomberg, highlights BlackRock's impressive track record of securing SEC approval for ETFs.

Crypto investors now have reasons to be optimistic about the potential of a spot Bitcoin ETF. 🌟 #BlackRock #Bitcoin #ETF #CryptoNews

📢 Investment company launches spot Bitcoin ETF application! 🚀 $BTC

📄 WisdomTree has submitted a new spot Bitcoin ETF application after two previous rejections from the SEC.

🔄 Invesco has also restarted applications for similar products.

⚖️ Both companies emphasize professional custodians and monitoring protocols to prevent fraud and market manipulation.

💭 There are rumors that Fidelity Investments may also be considering applying for its own spot Bitcoin ETF.

The prospects for Bitcoin adoption are exciting! 🌟 #比特幣 #ETF #加密貨幣新聞

📢 Investment firms embrace Bitcoin! 🚀 $BTC

📄 WisdomTree files new application for spot Bitcoin ETF, determined after previous SEC rejections.

🔄 Invesco reactivates its application for a similar product.

⚖️ Emphasis on professional custodians & surveillance agreements to curb fraud and manipulation.

💭 Rumors hint at Fidelity Investments considering its own spot Bitcoin ETF.

Exciting times ahead for Bitcoin adoption! 🌟 #Bitcoin #ETF #CryptoNews

Opinion: Why is Bitcoin soaring today?

🚀 #比特幣大漲 Optimism about resolving the U.S. debt problem continues to grow! 💼 President Biden and Speaker McCarthy have agreed to raise the borrowing limit, easing concerns about depository defaults. Bitcoin surged to a 2-week high, hitting $28,450. However, intraday profit-taking pushed the price back towards $27,850. 📉 Expect a short-term correction to $25,000 as Bitcoin has been stable within a descending triangle range since March 23. But the overall trend is still bullish! 📈 #比特幣

The view of Bitcoin'price raising up today. $BTC

🚀 #Bitcoin rallies as optimism grows over US debt resolution! 💼 President Biden and Speaker McCarthy have agreed to raise borrowing limits, easing fears of a default. BTC surged to $28,450, highest in 2 weeks. However, profit-taking pushed it down to $27,850 later. 📉 Short-term correction to $25,000 likely as BTC consolidates within a descending triangle since March. But overall bias remains bullish! 📈 #CryptoNews

Weekly report from June 12th to 19th:

＊SEC reaches agreement with Binance.US: $BNB

- SEC will not freeze the assets of Binance.US

- Binance.US will block private key access and disclose business expenses

*SEC employees expressed concerns about Ethereum: $ETH

- SEC staff raised concerns about a speech given by Bill Seaman in 2018

- This speech may have undermined the view that Ethereum is considered a security

*Gary Gensler’s 2018 speech resurfaces:

- Gary Gensler confidently claims that Bitcoin, Ethereum, Litecoin and Bitcoin Cash are not securities

- U.S. Rep. Warren Davidson introduces SEC Stabilization Act to fire Gensler

*Hong Kong pressures banks to accept cryptocurrency customers:

- Hong Kong Monetary Authority urges major banks to accept cryptocurrency exchanges as clients

- Hong Kong Monetary Authority requires financial institutions to assist cryptocurrency companies in gaining access to banking services

#SEC訴訟 #香港加密政策

June12-19 $BNB #SEC #hongkong

＊SEC and Binance.US reach agreement:

-Binance.US's assets will not be frozen by the SEC

-Binance.US will prevent access to private keys and disclose business expenses

＊SEC employees concerned about Ether:

-SEC employees were concerned about a speech by Bill Hinman in 2018

-The speech might undermine the idea that Ether is security

＊Gary Gensler's 2018 speech resurfaces:

-Gary Gensler confidently stated that Bitcoin, Ether, Litecoin, and Bitcoin Cash are not securities

-Representative Warren Davidson introduced the SEC Stabilization Act to fire Gensler

＊Hong Kong pressures banks to accept crypto clients:

-The Hong Kong Monetary Authority urged major banks to accept crypto exchanges as clients

-$The HKMA required institutions to help crypto firms gain access to banking services

"Tether responds to China bond reserve report!"

Tether responded to reports that its reserves once contained bonds from Chinese state-owned enterprises. The company said it disapproved of the action, and the information obtained by the media was limited and older than two years. Tether clarified that its exposure to Chinese commercial paper is liquid and stable, having reduced its commercial paper exposure to zero last year.

"The media is criticized for presenting outdated information!"

Tether criticized the media for not paying attention to current events and facts and only presenting outdated information. The company emphasizes that it prioritizes its customers and the data transmitted to the media does not represent the current status of the company.

Tether clarified that they had no losses on any commercial paper, including commercial paper issued by Chinese companies. The company pointed out that the commercial papers related to the Bank of China involved are all rated A1 or higher and are used by some of the world's largest investment management companies.

#Tether #透明度 #中國債券

📢 Tether sets the record straight on Chinese securities in reserves! 🇨🇳

Tether responds to outdated reports, emphasizing their commitment to transparency. The materials in question are over 2 years old, and their exposure to Chinese commercial papers was liquid and stable.

#Tether #Transparency #ChineseSecurities

[Lunchtime News-What happened in the currency circle today]

**FTX co-founder Sam Bankman-Fried will face two separate trials:

1. Bankman-Fried faces a total of 13 charges involving fraud, conspiracy to defraud and bribery.

2. Five of the charges will be tried for the second time on March 11, 2024.

**DoJ attorneys will continue to pursue the original eight-count indictment against Bankman-Fried:

1. Lawyers for the FTX co-founder are seeking to have the five additional charges he faces following his extradition thrown out.

2. The new trial in March will focus on charges of bribery conspiracy, conspiracy to operate an unlicensed financial transmission business, bank fraud conspiracy, and derivatives and securities fraud.

#幣圈新聞 #FTX #SamBankmanFried #SEC