Regulatory Dynamics

Beijing's multiple departments jointly issued a risk warning, alerting about the risks of virtual currency trading. A symposium was held in Ganzi, Sichuan to discuss the cleanup of Bitcoin mining sites. The Bank of Korea will establish a special task force to study central bank digital currency. The European Central Bank will release the distributed ledger project EUROchain based on R3 Corda. Germany will require digital asset custodians to apply for licenses. The Supreme People's Procuratorate detailed ten types of illegal activities involving blockchain.

Industry News

Three exchanges have successively shut down, with at least 12 exchanges ceasing operations or being investigated within two months. The Shenzhen Stock Exchange compiled the Shenzhen Blockchain 50 Index, which rose 1.15% on its first day. YouTube deleted multiple videos from major figures in the cryptocurrency industry, categorizing the related content as "harmful information." Tencent has established a digital currency research project team. The American heavyweight risk management organization COSO will release blockchain security guidelines next year. China has held its first blockchain technology capability test. 14 insurance companies have joined the insurance risk control blockchain platform.

Investment and Financing Progress

Cryptocurrency broker BitOoda has completed a $7 million seed round financing. Venture capital fund Dragonfly has invested in the public blockchain Nervos. Yunxiang has obtained hundreds of millions in A++ round financing. The founding team of Maskbook has received strategic investment from HashKey Capital. Fan Chain FANS has secured hundreds of millions in strategic investment. Huobi Japan has completed $4.6 million in financing. BigONE has announced the acquisition of BaseFEX.