This Week's Digital Money Market Review (9.24-9.30)

Market Overview

This week, the digital money market has shown overall stable performance with small fluctuations. Bitcoin's price has decreased in volume at the end of the triangular consolidation range, and a larger market movement is expected in early October. The total market capitalization of global digital money has slightly dropped by 2% to $221.3 billion. Bitcoin's market capitalization accounts for 51.42%, a slight decrease from last week.

Regulatory Dynamics

Multiple countries have further clarified their regulatory stance on Digital Money:

• The U.S. Securities and Exchange Commission (SEC) has expanded its regulatory focus to digital asset brokers and investment firms. The Financial Industry Regulatory Authority (FINRA) has also begun to intervene in regulation.

• The French National Assembly has initiated a legal debate on crypto assets and ICOs, aiming to clearly define related concepts.

• A U.S. federal judge ruled that digital money is classified as a commodity and falls under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC).

• The Shanghai Hongkou District Court has recognized that Ethereum can be protected by law as general property.

• The SEC Chairman stated that most digital assets will be regarded as securities and will be subject to securities regulation.

Industry Dynamics

• A certain technology company sold its "Chainke" related business, retaining only the underlying blockchain technology business.

• An EOS whale account was hacked, resulting in a loss of 2.09 million EOS, worth over 70 million yuan.

• A certain search engine company will lift the ban on some cryptocurrency-related advertisements.

• A certain mining machine manufacturer has disclosed its prospectus on the Hong Kong Stock Exchange, officially launching its listing plan. In the first half of the year, net profit increased nearly eightfold year-on-year.

• A certain exchange is in talks with Nasdaq to list on its cryptocurrency exchange next year.

• A certain investment bank is researching the launch of financial derivatives based on Ethereum.

• South Korea has recognized 9 blockchain-related businesses as venture capital firms and provided policy support.

• Bank of Communications successfully issued the market's first credit asset securitization project based on blockchain technology.

• An exchange in India announced its shutdown due to regulatory reasons.

• A research institute under a certain e-commerce group has officially established a blockchain laboratory.

• A certain content platform joined a blockchain project and received 500 million tokens for user incentives.

Industry Perspectives

The CEO of a certain exchange expects that October to December could be a good time for a bull market, but also emphasizes that it is uncertain.

A certain investor stated that they will no longer invest in projects, but still have confidence in the long-term development of blockchain.

The vice chairman of the Securities Regulatory Commission emphasized the need to severely punish financial violations committed under the guise of technology, while also establishing necessary error tolerance mechanisms for technological financial innovation.