Daily View | Sunday December 26

The following contents are organized and provided by PlatONWorld to spread more information and not represent the position of PlatONWorld. The contents are from third-party platforms, and the accuracy, authenticity, completeness, validity, and real-time nature of the information are not guaranteed.

【LAT】

【Quotes】

【10 days node data】

【Industry News】

The International Monetary Fund (IMF) Calls for Strengthening Cross-border Supervision and Data Standardization

According to CNBC on December 24, the International Monetary Fund (IMF) is still worried about cryptocurrency, especially because the market is growing at such a significant rate, but the regulators are not getting better. According to the data collected by the IMF, in September this year, the total market value of all cryptocurrency assets exceeded US $2 trillion, an increase of 10 times over the beginning of 2020. One problem that the IMF wants to emphasize is that many individuals and financial institutions trading these encrypted assets “lack strong operation, governance and risk practices”. Therefore, consumers are at risk, and there is a problem of “insufficient disclosure and supervision” in this field. In addition, it believes that encrypted assets create some “data gaps” and “may open unnecessary doors to money laundering and terrorist financing”. The IMF believes that national regulators should strive to formulate global general rules and strengthen cross-border supervision; In addition, this is such a new field that national regulators should promote data standardization.

Many Courts Ruled that the Transaction Contracts Related to Virtual Currencies such as Bitcoin were Invalid

According to the 21st Century Business Herald, recently, Beijing Chaoyang Court and Dongcheng District Court successively disclosed a bitcoin “mining” contract case tried within their jurisdiction, and the judgment results were highly consistent. They both ruled that the contract was invalid and bear the consequences. The above cases are not isolated cases. It is found from the online query of judgment documents that at present, many courts have ruled that the transaction contracts related to bitcoin and other virtual currencies are invalid, and even the litigation claims are rejected due to the inability to prove the existence of transaction facts.

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