Today, Panda DAO, Asia's leading DAO organization, announced the official launch of Pixel Dogs Dubhe, sponsored by NFTChina.hk. This unique series of NFTs consists of 10,000 pixel dog avatars generated by programmers using computer algorithms. Each avatar is made up of dog heads, bodies, and accessories meticulously designed by artists, with rarity determined by an algorithm.
Details of Pixel Dogs Dubhe
• Number of NFTs: 10,000
• Number of Tokens: 21 million
• NFT Name: Dubhe
Unique Charm of Pixel Dogs Dubhe
Have you ever gazed at the night sky, searching for the brightest stars in the Big Dipper? Today, we explore the boundless starry world, uncovering the mysteries of Dubhe, the first star of the Big Dipper in the Ursa Major constellation. Dubhe symbolizes desire and wisdom, representing exploration and transcendence. It is also the ecological emblem of the Dubhe constellation.
The Dubhe series NFTs are built on the Base chain's 404 protocol assets, with a total issuance of 10,000, including 1,000 initial mintings. Each Dubhe NFT is composed of 2,100 Dubhe tokens. Players can use 2,100 Dubhe tokens to randomly synthesize any Dubhe or sell 1 token to randomly synthesize any Dubhe again, thereby increasing the probability of obtaining a higher-level Dubhe. The probabilities are as follows: A: 40.2%, R: 33.5%, SR: 19.6%, SSR: 6.7%.
About Panda DAO
Panda DAO is Asia's top DAO organization. Its team has achieved monthly NFT transaction volumes exceeding 1,000 BNB on the BSC chain for three consecutive months and more than 20 BTC on the Merlin chain for three consecutive months. The number of real users has exceeded 10,000. The dog theme has a very popular MEME attribute culture in the blockchain space, such as Musk's dog, AIDOGE, and dog runes, all of which have shown excellent price performance.
About NFTChina.hk
NFTChina.hk is Asia's leading NFT trading platform and the first NFT platform to venture into overseas markets, based in Hong Kong, China.
 

Taiwan has announced its plans to regulate its crypto industry through the Financial Supervision and Administration Committee (FSC) or the newly established Ministry of Digital Affairs (MODA).

Taiwan’s Crypto Legislation

Taiwan plans to regulate cryptocurrencies through special legislation, and its Financial Supervisory Commission (FSC) will monitor the burgeoning industry. Huang Tien-mu, the Chairman of the FSC, confirmed this during a parliament hearing analyzing global banking stability. 

Participants in Taiwan’s crypto industry welcomed the news. Wayne Huang, the co-founder and CEO of XREX, believes the industry will grow under proper regulation. 

The new rules will require crypto trading platforms to be licensed by the appropriate regulators. Meanwhile, consultations have been launched to propose how best to regulate virtual asset trading platforms. An initial framework for the law is expected by June, with an initial draft for later this year.

Taiwan’s central bank and the FSC are two of the primary financial regulators in Taiwan. The central bank sets the country’s monetary policy and oversees foreign exchange regulations. On the other hand, the FSC has a broad remit over everything from banking regulation, securities, and Futures to anti-money laundering (AML).

Some lawmakers in Taiwan wanted the newly-established Ministry of Digital Affairs (MODA) to be the chief crypto regulator since it is a new digital asset technology. Yet, others said the MODA is relatively new and inexperienced compared to the FSC. 

Currently, the FSC has no interest in regulating non-fungible tokens (NFTs) and local Taiwan media quoted Huang Tien-mu, saying that since NFTs are still emerging as an asset class, it is too early to regulate them.

FTX Crash Shaping Taiwan’s Crypto Landscape

Despite China’s ban on crypto-related activities, Hong Kong wants to become a crypto hub. Taiwan, which has previously taken a hands-off approach to crypto regulation, is following Hong Kong’s lead.

The FTX crash of last year could have made regulators speed up the creation of applicable laws. Following the bankruptcy of the Sam Bankman-Fried-led exchange, clients in Taiwan were some of the most impacted, with a report estimating that they lost approximately $20 billion.

The FTX collapse also saw crypto assets tank. Bitcoin dropped below $20,000 in mid-November, registering new 2022 lows.

Crypto firms in Taiwan remain optimistic that the government will learn from Hong Kong’s regulatory experience and take steps to create a favorable regulatory environment to spur innovation in crypto and blockchain.

Despite Hong Kong’s crypto ambitions, the city could still find competition with other hubs like Singapore and Dubai. 

According to Yuya Hasegawa, a market analyst from the Japanese crypto exchange Bitbank, regulation is necessary for healthy growth. Still, to compete with other crypto hubs, there must be an appealing tax policy for crypto projects.

#taiwan #hongkong #koinmilyoner #bitcoin #GPT-4

Hong Kong's Securities and Futures Commission (SFC) is set to release guidelines for a crypto licensing framework in May. The framework, effective by June 1, will require crypto platforms to register with authorities, allowing licensed exchanges to offer major cryptocurrencies, like Bitcoin and Ethereum, to retail traders. This move reinforces Hong Kong's goal to become a leading cryptocurrency hub in Asia, with existing exchanges like Hashkey and OSL already offering crypto trading services. With the backing of the city's banking sector, more crypto firms may look to establish a presence in Hong Kong.

#Binance #BTC #hongkong #crypto2023

The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (CBUAE) have agreed to strengthen cooperation on virtual asset regulations and developments.

The two central banks met on May 30, 2023, and discussed a range of topics, including cross-border trade settlement and how UAE corporations can leverage Hong Kong's financial infrastructure platforms to gain access to Asian and mainland markets.

The collaboration comes as Hong Kong's Securities and Futures Commission (SFC) is allowing virtual asset service providers (VASPs) to cater to retail investors in Hong Kong starting June 1.

The SFC has said that it will take a "technology-neutral" approach to regulating VASPs, and that it will focus on ensuring that they are properly capitalized and have adequate risk management systems in place.

The collaboration between the HKMA and the CBUAE is a positive development for the cryptocurrency industry. It shows that central banks are taking a serious look at cryptocurrencies and are willing to work with the industry to develop regulations that are both effective and supportive of innovation.

#hongkong #uae #crypto2023 #bitcoin #regulations

Hong Kong is aiming to become a leading hub for Web3 in Asia and beyond, with the government providing a comprehensive support system to enterprises passionate about pioneering and start-ups in this area.

The government has a high-level commitment to developing the sector and is providing a facilitating environment with timely and necessary guardrails to mitigate actual and potential risks in accordance with international standards, in order to promote the sustainable and responsible development of the virtual asset (VA) and Web3 sector in Hong Kong.

The Hong Kong Monetary Authority is working on a regulatory regime for “stablecoins” with an aim to implementing the relevant regulation in 2024. As of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related companies interested in establishing their presence in Hong Kong, including VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets and payment companies, as well as other projects on building the Web3 ecosystem.

As of end-February 2023, 23 companies from the Mainland, Canada, EU (European Union) countries, Singapore, the UK (United Kingdom) and the US (United States) have indicated to Invest Hong Kong that they planned to establish their presence in Hong Kong.

The Hong Kong Government is also establishing a licensing regime for VA service providers which will commence operation in June 2023. Through the establishment of a comprehensive and clear regulatory system, they are expecting more quality VA enterprises to set up businesses in Hong Kong or to seek development opportunities in Hong Kong.

On market development, the securities rules in Hong Kong have been advanced to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors, making Hong Kong a pioneer in the Asian market. Three VA Futures ETFs have already been listed and traded on the Hong Kong Stock Exchange.

Furthermore, the Hong Kong government is collaborating with the Mainland on testing the use of digital Renminbi for making cross-boundary payments in Hong Kong, and working with a number of central banks on a multiple central bank digital currency bridge project to expedite cross-border payments. The Hong Kong government is also looking into the issues pertinent to possible issuance of e-Hong Kong dollar.

The Cyberport in Hong Kong has housed a community of start-ups and technology companies, including a number of Web3-related technology companies in areas including financial technology, smart living, and digital entertainment. In light of the development of Web3, Cyberport established the Web3 Hub@Cyberport early this year.

In addition, the Hong Kong government has proposed a fintech internship scheme for post-secondary students in the 2023 Budget. Subsidies will be provided to participating students in Hong Kong and the GBA (Guangdong-Hong Kong-Macao Greater Bay Area). The scheme facilitates eligible students to acquire practical work experience in fintech enterprises in Hong Kong or the wider GBA, and helps them develop an early interest in pursuing a career in fintech after graduation.

The Financial Secretary announced in this year’s Budget that the government will set up a Task Force on VA Development to examine the market situation, development opportunities, regulation needs and ecosystem of the VA sector in Hong Kong, aiming to formulate proposals on how to promote the sustainable and responsible development of the sector. Also announced in this year’s Budget, $50 million will be allocated to expedite the Web3 ecosystem development.

#hongkong #Stablecoins #hongkonghub #azcoinnews #azcoin

This article was republished from azcoinnews.com