Headlines
▌Binance denies the rumor that "Interpol issued a red warrant to Changpeng Zhao"
In response to the rumor on Twitter that "Interpol issued a red notice to Changpeng Zhao", a Binance spokesperson stated in an email statement that "this rumor is not true."
CZ also responded on Twitter, saying that the arrest warrant circulating on the Internet was a photoshopped photo, and advised users to block the source of FUD.
Policies
▌The FASB Publishes Proposed Accounting Standards Updates Regarding Accounting and Disclosure of Cryptoassets
The U.S. Financial Accounting Standards Board (FASB) proposed an update to its proposed accounting standards for accounting and disclosure of encrypted assets, proposing to treat encrypted assets more like traditional assets and improve the accuracy of valuations.
Currently, generally accepted accounting principles (GAAP) require companies to treat cryptocurrency holdings as “indefinitely intangible assets” on their balance sheets. Under current generally accepted accounting principles, cryptoassets are tested for impairment annually.
Blockchain Application
▌UBS conducts intraday cross-border repurchase on the blockchain
UBS has used Broadridge's distributed ledger repo (DLR) to conduct the first intraday cross-border repo transaction with a global Asian bank.
Beatriz Martin, head of finance at UBS, said: "Intraday repos are an invaluable tool for managing our liquidity usage, providing flexibility in our funding capabilities while reducing operational risk. Repurchase agreements (repos) involve the sale of bonds (usually Treasuries) and the repurchase at a later date. The net effect is similar to a loan.
Cryptocurrency
▌SEC to carry out investor education campaign, which includes cryptocurrencies
In an announcement on April 3, the SEC said it would reach out to groups including high school students, military personnel, elderly investors and Native Americans in an effort to improve financial literacy.
The financial watchdog advises that its possible actions in such incidents include how to avoid becoming a victim of cryptocurrency fraud. The SEC cited a March 23 warning in which the regulator urged people to be "cautious" when considering investing in crypto projects that may qualify as securities within the regulator's purview, the only time you should take risk in any speculative investment is when you can afford to lose the money completely.
▌Bank of England official: digital pound CBDC will not be programmable to avoid government control
Last week, Katie Fortune, senior manager of the Central Bank Digital Currency (CBDC) department at the Bank of England (BofE), suggested that the digital pound would not include government-enabled programmable features to avoid misunderstandings about government overreach.
Like the digital euro, the core of the digital pound is not programmable, but programmability can still be implemented by the private sector, Katie Fortune said. A two-tier model with a private sector layer in between could be built on top of BofE's infrastructure. In this way, it will be a private company dealing with the end user. This will enable the Bank of England to support innovation while maintaining its independence.
Frank DeGods, also known as Rohun Vora, reflected on past decisions, admitting to prioritising community appeasement over long-term vision. He emphasised the importance of standing by convictions and offering flexibility, as demonstrated by the recent return to Solana and the adoption of cross-chain interoperability.
AnaisThe slowdown in US CPI inflation intensifies rate cut pricing, but several hawkish officials support the dollar. Gold fell first and then rebounded to reclaim $2410, while Bitcoin bulls surged past $67,000.
AlexThe U.S. court has announced that two Chinese nationals have been arrested and arraigned on charges of money laundering through shell companies involved in crypto investment fraud.
MiyukiSenate's bipartisan approval of H.J.Res. 109 challenges SEC's SAB 121, pushing President Biden to decide amidst political and industry pressures.
WeiliangBitcoin's price has solidified its position just above the crucial support level of $65,000, with cryptocurrency traders viewing its pattern as robust. Some even suggest that no significant corrections are expected soon and the price may continue to rise.
AlexThe USDT stablecoin continues to be entangled with illegal forex transactions, prompting Kraken to announce that it is evaluating the possibility of delisting European Tether pairs.
MiyukiCoinbase analysts are confident that an Ether spot ETF will be approved soon, with Ether surging to $3,126 at one point.
WeiliangWeb3 is still in its infancy, contending with critical challenges such as user-friendliness and infrastructure development. So will Web3 fail to realise its transformative potential and let Web2 continue its dominance?
CatherineVenezuela announced a cryptocurrency mining ban over the weekend, threatening to disconnect all domestic cryptocurrency mining farms from the national power grid.
AlexRecent resignations at OpenAI, including Chief Scientist Ilya Sutskever and Jan Leike from the "superalignment team," follow disagreements over prioritising safety amid the launch of GPT-4o. Concerns linger over OpenAI's shift towards profit and potential security risks in collaborations like Apple's iOS 18 update integrating OpenAI technology.
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