This weekly news summary from China, Taiwan, and Hong Kong attempts to plan the most important news in the industry, including influential projects, changes in the regulatory environment, and enterprise blockchain integration.
Can green miners get a pass?
Last week’s column As China moves towards a more carbon-neutral policy, look at the recent crackdown on cryptocurrency miners. This week, the Sichuan Energy Regulatory Office organized a symposium on the subject, with a slightly different tone in the southwestern provinces of China. Due to the low cost of energy generated by a well-developed hydropower system, the mining industry in the province is concentrated. The forum failed to reach a resolution, sparking speculation that the province’s green energy will bring more active regulation.
Zhang Nan, CEO of mining machine manufacturer Canaan, added this speculation Call on China to provide subsidies for green energy miners“For-profit miners prefer areas with low electricity prices, indicating oversupply and potential waste of energy. Bitcoin miners also help create jobs in poor areas and contribute to finances,” the CEO noted. It seems unlikely that China will continue to allow miners to abuse coal power in areas such as Inner Mongolia, but for Sichuan, there must be reasons to support the lucrative mining industry.
Uniswap carpet pulls state-run TV
On June 2nd, National Television Station CCTV-13 Reported virtual currency fraud in their report Newsroom sectionIn the report, they introduced how the virtual currency TRTC was listed on Uniswap before removing all liquidity. SlowMist, a blockchain smart contract auditor, also received attention because they showed how fraudulent activities are carried out. In the TRTC case, 59 ETH were removed from the pool, worth approximately $100,000. CCTV-13 finally warned of the risk of financial fraud on cryptocurrency platforms such as Uniswap.On Twitter, Uniswap founder Hayden Adams Wrongly posted a tweet about this segment, Confuses the video clip with a positive report. Obviously, Adams did not spend too much time practicing his Mandarin like other early Ethereum pioneers Vitalik Buterin and Gavin Wood. They all have a good grasp of the language.
BS and C?
In an interview in Chinese on May 29, Binance founder CZ distanced himself from the Binance Smart Chain, claiming that it cannot control the chain and is not responsible for its creation. He shyly hinted that BSC is a community project, and he rarely talks to the team behind it. After a series of hackers and vulnerabilities plagued various “smart chains”, Binance and its competing Chinese exchanges may be reconsidering their positioning. These “smart chains” provide further opportunities for exchanging tokens and their users. utility.
Blockchain, not Bitcoin
Despite the increasingly stringent regulatory environment, China has not given up its stance of supporting technology. On May 31, the Ministry of Human Resources and Social Security and the Ministry of Industry and Information Technology issued new standards for blockchain technicians. These standards specify the skills and core competencies required to work in the industry.
USD 6.2 million CBDC airdrop
Beijing is Launch another digital yuan lottery As it continues to promote the release of central bank digital currencies. Beijing Local Financial Supervision and Administration Bureau announced on June 2 that the government will issue free currency to citizens who apply before June 7. Said that the digital renminbi will not be used as a surveillance toolHe claimed that the technology was originally developed to counter the control of the payment sector by the private sector. The Western world may still be skeptical on this point, but given the dominant position of Alipay and WeChat Pay across the country, the need to balance the private sector is certainly reasonable.