This week's preview | Hong Kong's new encryption regulations will take effect, and South Korea Blockchain Week 2023 will be held

A glance at the most noteworthy industry events and important project progress in the coming week.

The Hong Kong Securities Regulatory Commission announced that the “Guidelines Applicable to Virtual Asset Trading Platform Operators” will come into effect on June 1. The Hong Kong Securities Regulatory Commission welcomes virtual asset trading platform operators who are ready to comply with the standards of the Securities Regulatory Commission to apply for licenses. Operators who do not intend to apply for a license should proceed to wind down their operations in Hong Kong in an orderly manner. Cai Zhonghui, interim director of the Intermediary Department of the Hong Kong Securities Regulatory Commission, said that there is currently no platform for retail investors to buy and sell virtual assets. It is expected that retail investors will be able to trade on licensed trading platforms as soon as the second half of this year after the guidelines take effect. Cai Zhonghui emphasized that if the local virtual asset platform has not been in operation before the implementation of the regulations, or if the overseas platform still does not have a license after the implementation of the guidelines, it cannot conduct virtual asset trading business in Hong Kong, nor can it be promoted in Hong Kong, otherwise it will bear criminal responsibility ; and platforms that are currently operating can apply for a license within 9 months after the guidelines of the Ordinance come into force.

Japan’s cabinet plans to implement stricter anti-money laundering measures from June 1, and a key feature of the new framework is the enforcement of Travel Rules to better track criminal proceeds. The rule requires financial institutions handling crypto asset transfers to pass on customer information to the next institution, and that information should include the names and addresses of the sender and recipient. Violators face criminal penalties if they do not comply with corrective orders from authorities.

“Korea Blockchain Week 2023” will be held in Seoul from June 2nd to June 7th. It will attract mainstream evangelists, business leaders, and core developers from the global encryption industry to participate in keynote speeches, seminars, exhibitions and Discussion on blockchain trends through social activities and other means. This Korea Blockchain Week 2023 will be held in multiple stages in multiple places in Seoul. “ETH Seoul 2023 Hackathon” and “BUIDL ASIA 2023” are the two core summits, hosted by the Korean blockchain community KryptoSeoul and others. Among them, the “ETH Seoul 2023 Hackathon” summit will be held from June 2nd to June 4th, and the “BUIDL ASIA 2023” summit will consist of a main summit and peripheral activities in multiple sub-venues. The main summit will be held on June 6th It will be held from June 1st to June 7th, and the peripheral activities of more than ten sub-venues will be carried out successively from June 1st to June 9th.

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May 29th

Project Progress

• BitMEX launches BitMEX Hong Kong for Hong Kong users, access via new app starting May 29

May 30th

Proposal voting

• GnosisDAO’s new proposal recommends that vaults transfer at least 50% of their stETH holdings to rETH to reduce their reliance on stETH

Upcoming Events

• Muverse Asia Tour in Beijing, China on May 30th

Token Unlock

• Galxe token GAL will be unlocked at 20:00:00 on May 30, 586,666.67 pieces (about 800,000 USD), accounting for 0.293% of the total supply

May 31st

Project Progress

• Cosmos ecological chain Neutron token NTRN conducts liquidity auction
• DCG to close institutional trading unit TradeBlock on May 31
• Horizen node operators should update to Zen v4.0.0 by May 31st
• OP is about to celebrate its first anniversary, and OP circulation will increase on May 31
• Sui Name Service will start auction on May 31st

Token Unlock

• Optimism token OP will unlock 154,618,822.65 pieces (about 249 million US dollars) at 08:00:00 on May 31, accounting for 3.6% of the total supply

important events

• The National Futures Association of the United States passed the relevant regulations on digital asset commodities, which will take effect on May 31, 2023
• Zhengzhou Development and Reform Commission is openly soliciting opinions from the public on policies related to the development of Metaverse industry, as of May 31

Upcoming Events

• The Sandbox will hold “The Sandbox Chinese Creators Community Meetup” offline event in Shanghai on May 31

June 1

important events

• Hong Kong Securities Regulatory Commission: The operating license of the virtual asset trading platform will be applied for from June 1
• Voyager plans to start returning cash and cryptocurrency to customers by June 1

Project Progress

• Circle no longer holds U.S. Treasuries maturing after early June
• COTI will airdrop 82 million native gCOTI tokens to gCOTI airdrop event participants on June 1st
• ETH graded leverage agreement f(x) will issue token FX on June 1st *Morphine on Goerli 2 testnet on Starknet until June 1st
• Japan cabinet plans tougher anti-money laundering measures from June 1
• BNB Chain plans to launch the ZkBNB mainnet on June 1 and complete the BEP-206 proposal.
• Binance will delete and delist ADA/AUD, AUD/BUSD and other spot trading pairs at 14:00 on June 1

Token Unlock

• 1,273,353,491 Hedera tokens (about $66.96 million) will be unlocked at 08:00:00 on June 1, accounting for 2.547% of the total supply
• Acala token ACA will unlock 27,433,334 pieces (about 1.24 million USD) at 15:00:00 on June 1, accounting for 2.743% of the total supply

Upcoming Events

• The Ethereum Foundation team EF Next Billion announced that it will start the Next Billion Fellowship cohort 3 bonus program in June

June 2

Upcoming Events

• “Korea Blockchain Week 2023” will be held in Seoul from June 2nd to June 7th

Token Unlock

• 1inch token 1INCH will unlock 249,807,669.19 pieces (about 100 million US dollars) at 08:00:00 on June 2, accounting for 16.654% of the total supply
• Nym token NYM will unlock 25,000,000 pieces (about 4.78 million USD) at 08:00:00 on June 2, accounting for 2.5% of the total supply

June 3rd

Upcoming Events

• Sui Builder House Seoul Station will be held on June 3-4
• Muverse Asia Tour Hangzhou Station was held on June 3rd

Token Unlock

• Sui token SUI will unlock 61,083,333.36 pieces (about 61.69 million US dollars) at 08:00:00 on June 3, accounting for 0.611% of the total supply

June 4th

NFT Minting

• Project name: BIDSHOP Hammer, chain: ETH, total circulation: 10000, minting price: 0