Best Twitter threads of the day – May 24th

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• Digital Yuan adoption soars as Minsheng bank and JD.com join forces

  TL;DR Breakdown Minsheng Bank partners with JD.com to launch a digital CNY payment solution. Incentives offered by Minsheng Bank aim to encourage the widespread use of digital yuan on JD.com. Minsheng Bank is a non-state entity in China’s expanding digital yuan experiment. Description Minsheng Bank of China, a pioneer in digital yuan adoption, has partnered with e-commerce giant JD.com to launch an innovative digital CNY-powered payment solution. The collaboration aims to bring the benefits of China’s Central Bank Digital Currency (CBDC) to Minsheng Bank clients in the CBDC trial zone, offering them seamless CBDC payments on JD.com by … Read more Minsheng Bank of China, a pioneer in digital yuan adoption, has partnered with e-commerce giant JD.com to launch an innovative digital CNY-powered payment solution. The collaboration aims to bring the benefits of China’s Central Bank Digital Currency (CBDC) to Minsheng Bank clients in the CBDC trial zone, offering them seamless CBDC payments on JD.com by linking their digital wallets with their JD accounts. As reported by Shzhidao via Sohu, the partnership aims to encourage widespread use of the digital…

  Article 2023年8月8日

• Biden’s warning: No debt deal to shield crypto traders

  TL;DR Breakdown President Biden rejects any deal that protects cryptocurrency traders from tax obligations, emphasizing the need for fair fiscal policies. He calls for a bipartisan agreement on budget negotiations and rejects tax breaks for sectors like the oil industry. In a significant shift in policy, President Biden’s recent remarks at the G7 Summit signal the shifting terrain of cryptocurrency regulation in the United States. Speaking on the topic of budget negotiations, Biden underscored the necessity for a bipartisan consensus on the nation’s economic direction and dismissed any notions of an agreement that would shield high-earning cryptocurrency traders. A Bipartisan Stalemate Delivering his speech before the world’s most powerful nations, Biden detailed his interactions with the congressional leadership before his departure for the summit. A sense of urgency underscored his dialogue as he underscored the need for a bipartisan agreement to move forward. “We agreed the only way to move forward was in a bipartisan agreement,” he stated. Yet, while signaling his willingness to cooperate, Biden also emphasized his commitment to making substantial cuts to spending. His proposal, as Biden…

  Article 2023年5月22日

• Congressman Tom Emmer proposes amendment to curb SEC’s crypto oversight

  TL;DR Breakdown U.S. Representative Tom Emmer sponsored an appropriations amendment aimed at limiting the SEC’s use of funds for digital asset enforcement, citing concerns over SEC Chair Gary Gensler’s approach to cryptocurrency regulation. Senator Bill Hagerty, a member of the Senate Banking Committee, also called for more hearings on the SEC’s treatment of digital assets, indicating bipartisan concern over the regulatory body’s current approach. Notable figures in the blockchain industry have expressed support for Emmer’s proposed legislation, which seeks to establish clearer regulations for digital assets and potentially remove Gensler from his SEC Chair position. Description United States Representative Tom Emmer, Majority Whip of the U.S. House of Representatives, sponsored an appropriations amendment on September 8 aimed at restricting the Securities and Exchange Commission’s (SEC) use of funds for digital asset enforcement. The move comes amid growing concerns over the SEC’s extensive legal expenditures in disputes with various cryptocurrency entities. In … Read more United States Representative Tom Emmer, Majority Whip of the U.S. House of Representatives, sponsored an appropriations amendment on September 8 aimed at restricting the Securities and…

  Article 2023年9月9日

• South Korea empowers prosecutors with cutting-edge tools to combat crypto laundering across borders

  TL;DR Breakdown South Korea is acquiring cutting-edge blockchain analytics software to combat international crypto laundering. The aim is to harmonize scrutiny on international cryptocurrency platforms with the oversight already in place domestically. This move signifies a significant stride in the global fight against financial crimes related to digital currencies, positioning South Korea at the forefront. In a bold move aimed at tackling international crypto laundering, South Korea’s prosecution service is set to acquire cutting-edge blockchain analytics software. The innovative technology is expected to empower authorities to apprehend individuals engaged in illicit activities involving cryptocurrencies across borders. With their new arsenal of tools, authorities aim to harmonize the scrutiny applied to international cryptocurrency platforms, matching the level of oversight already in place for their domestic counterparts. This leap forward signifies a bold stride towards a more comprehensive and interconnected approach to combating financial crimes associated with digital currencies. By embracing cutting-edge blockchain analytics, South Korea is positioning itself at the forefront of the global battle against crypto laundering on a truly international scale. As the South Korean prosecutors forge ahead with…

  Article 2023年5月24日

• Global economy expected to slow down in 2024 amid shifting economic landscapes

  TL;DR Breakdown Economists predict a slowdown in global economic growth for 2024, with a projected expansion of 2.1 percent, down from expected 2.4 percent. The cautious outlook for 2024 is driven by concerns of prolonged inflation due to high demand, leading policymakers in advanced economies to maintain elevated borrowing costs. Except for Germany, the European economy has performed better than initially feared in the current year. Description Economists anticipate that global economy growth, which has surpassed expectations in 2023, will likely slow down next year due to major economies’ sustained increase in interest rates. According to a compilation of forecasts by consultancy Consensus Economics, the global economy is projected to expand by 2.1 percent in 2024, which marks a slight decrease from … Read more Economists anticipate that global economy growth, which has surpassed expectations in 2023, will likely slow down next year due to major economies’ sustained increase in interest rates. According to a compilation of forecasts by consultancy Consensus Economics, the global economy is projected to expand by 2.1 percent in 2024, which marks a slight decrease from…

  Article 2023年9月4日