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The ShapeShift Cryptocurrency Exchange takes the form of the worst nightmare of regulators trying to reign in the digital asset sector.
As today’s big lead explainsIn July, 37-year-old entrepreneur Erik Voorhees announced that a company he founded seven years ago to help exchange cryptocurrencies without revealing his name will disappear from the surface of the globe. they.
He declared ShapeShift to become a “Decentralized Autonomous Organization” or DAO over time. Its corporate structure will decline. “ShapeShift’s vision is to establish an immutable and borderless financial system,” he wrote on Twitter, with nearly 525,000 followers. “Let’s be direct. Money and finances must not be run by a coercive government among free people. They are spontaneous and central, like language, math, love. Will appear without any control. ”
Regulators believe his declaration may represent a new stage in the fight to prevent money laundering on the blockchain (digital ledger of cryptocurrency transactions). This makes it easier for criminals and thief politicians to move money within the global financial system.
At the same time, more established cryptocurrency exchanges, such as the recently listed Coinbase, are against the heavier regulations.
Twitter Salvo by CEO Brian Armstrong against the US Securities and Exchange Commission last week among crypto entrepreneurs who argue that regulators are curbing innovation and it’s too late to provide clear rules to the industry It reflects the heightened anger. Report of Hannah Murphy and Joshua Oliver..
Armstrong of Coinbase argues that the SEC should not judge Lend products designed to gain interest in digital assets as security. Brook Masters points out Rival Binance also openly argued with BaFin over stock tokens claimed by German regulators to be securities, and British regulators answered basic questions about the products and structure of a wider group of British troops. It states that it was not possible. Cryptocurrency crowds seem to see regulators as trying to prevent the turmoil dominated by banks and large financial institutions and protect the current system.
Meanwhile, a cryptocurrency hedge fund Increased by almost 24% in August Significant price fluctuations in digital asset prices helped outperform the stock and regular currency markets. Fast-paced profits mean that Bitcoin and other digital asset-focused funds have returned 145% this year, according to Eurekahedge data.
Internet of Things (5)
1. TikTok faces GDPR probe
Irish Data Commissioner Launches TikTok Survey Handling of child data And the allegations of transferring user information to China represent the latest regulatory concerns about popular video apps.
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2. EU talks about the cost of building chips
The EU wants to reduce its reliance on semiconductors in Asia, Must provide at least 20 billion euros in subsidies According to Paul Boudre, CEO of Soitec, a € 7 billion silicon wafer supplier, if you “want to move the needle” in making computer chips in a block. Nikkei Asia Report Chip prices are expected to rise in 2022 as TSMC in Taiwan, the world’s largest contract chip maker, joins its rivals and raises production prices.
3. Darktrace posts the loss of the maiden
Costs in the London market are a darktrace of cybersecurity groups Sudden loss Although the growth forecast for next year is bright, the performance in the first year was strong. Rex says Expectations for top-line growth next year are 3 percentage points higher than before. With a corporate value of 15 times the sales in 2022, this is less than half the multiple of the fastest growing US peers.
4. Amazon and Deliveroo link up
Deliveroo and Amazon Hit their first customer service partnership Since the US e-commerce group agreed to invest in a London-based food app two years ago, it has been offering prime customers free delivery on specific orders. The move is despite the fact that UK regulators are considering the risks of just such a partnership when considering whether to allow Amazon to invest in Deliveroo, which was initially agreed in 2019. happen.
5. Today’s Video: EV Battery Recycling
Tesla co-founder JB Straubel believes that a recycling revolution will be brought to EV batteries. The world’s largest lithium mine may be sitting in an unwanted gadget in the United States. Patrick Magee reports..
Technical Tools — Xiaomi Movie Smartphone
Smartphone makers are using the latest products in Hollywood effects to encourage their customers to become movie makers. Apple spent a few minutes on Tuesday showing me a whodunit movie made on the new iPhone 13. In cinematic mode, the focus easily moved from the character in the foreground to the object in the background and vice versa.
Huawei today Announced 11T and 11T Pro Flagship of “Cinemagic Filmmaking” This time, I watched another movie that emphasized features such as “Hitchcock Zoom” where the world seems to be approaching you. There is also a 108Mp main camera, a 120 degree ultra wide camera, and a telemacro camera for shooting small objects.Audio zoom focused on the burning sound of steak
Huawei Android phone was more impressive Incremental iPhone upgrade The day before. Equipped with dual speakers, Amoled screen and HyperCharge technology, it can reach 100% in 17 minutes. The price was also pretty amazing. The 256GB iPhone 13 costs £ 879, while the 256GB 11T is initially available for £ 499.
Shape-shifting crypto looks to evade regulators Source link Shape-shifting crypto looks to evade regulators