The East China University of Political Science has published an article expressing the desirability of Chinese regulators adapting the current cryptocurrency regime to changes in the global regulatory landscape and the growth of the digital economy, to maintain their competition in the market. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
University talks about the regulatory situation of cryptocurrencies in China
📍The East China University of Political Science has published an article addressing the regulatory situation of cryptocurrencies in the country. The publication “Prohibition-Based Regulation of Virtual Currency: Jurisprudential Reflections and Institutional Optimization”, which was published by the University's Law and Political Science magazine, mentions that, although the regulation based on the prohibition of cryptocurrencies and assets digital in the country, has worked to mitigate the risks posed by this class of assets, it is beginning to be time for the regulation/prohibition criteria to be re-evaluated, considering the growth and degree of maturity that the crypto industry has reached in the last 3 years and the changes that have occurred in the global regulatory landscape in relation to these digital assets.
El article It suggests that Chinese authorities optimize current regulatory standards and allow companies to engage in certain commercial activities related to digital assets, in a regulated manner, in order to adapt to global competition in the growing digital economy. Otherwise, the nation risks being left behind in this financial innovation.
Dubai updates its regulatory regime for cryptocurrencies
📍The Dubai Financial Services Authority has published an update to its cryptocurrency and digital assets regime. The announced modifications, which address the capabilities of investment funds to allocate to recognized and unrecognized cryptocurrencies and tokens, are established in order to improve the protection and security of investors in the region.
According to release published by the authority, the new updated regime represents a significant step in refining and advancing the regulatory environment for digital assets in the Dubai International Financial Center (DIFC).
Wisconsin State Investment Board will continue experimenting with Bitcoin
📍According to Professor David Krause of Marquette University, the Wisconsin State Investment Board's investment in Bitcoin is just an appetizer. Krause said the board has always been innovative and that its investment in BlackRock's Bitcoin spot ETF, which represents only a small portion of its assets, was made to experiment with the cryptocurrency and test public reaction.
As reported by this media, the Wisconsin State Investment Board reported the investment of $164 million in BlackRock's iShares Bitcoin Trust (IBIT) fund in the first quarter.
Bloomberg ETF analyst Eric Balchunas highlighted the state's participation in the Bitcoin ETF as a significant milestone for investment funds based on the cryptocurrency. “Wow, a state pension buys IBIT in the first quarter… Good sign, wait more, since institutions tend to move in packs,” the analyst commented at the time.
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