LETINE NEWS
IMPORTANT MILESTONES, CELEBRATING PAST ACHIEVEMENTS, AND LOOKING FORWARD TO A BETTER FUTURE
For media inquiries, please contact
A law professor at the East China University of Political Science andLaw has highlighted the urgent need for China to standardizeprocedures for recovering illicit digital assets due to a rise incryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery and urged for comprehensiveguidelines and international cooperation to manage digital currencieseffectively. " Although the law enforcement have tried a variety ofdisposal methods, due to the lack of unified standards, theimplementation varies greatly from place to place," he opinedadding:"A large amount of virtual currencies has been sealed off and can not be converted into liquid funds, affecting the normal operation of economic activities.
Read More
The European Parliament is set to establish a new European Commission, and it will determine the next five years of crypto policy for the European Union. lt's an election year around the globe, and the European Union is no exception. The European Parliament will vote this autumn on a new European Commission,which converts political priorities into draft legislation. Certainareas like digital privacy and artificial intelligence have beenidentified as EU policy priorities. Expect more assertive andforceful implementation by the commission of landmark legislationpassed in the last term- and in particular the Digital Market Actand Digital Services Act, which provide comprehensive regimes ondigital "gatekeepers," including provisions on content moderationfor digital platforms. European leaders are looking to improvecompetitiveness, and doubling down on an innovation-friendlyframework for digital assets would surely help by attracting the jobs and growth Europe so desperately needs.
Read More
Zurich Cantonal Bank, Switzerland's fourth-largest bank, has launched crypto trading and custody services, expanding its financial offerings. Zurich Cantonal Bank, Switzerland's fourth- largest bank, has officially entered the crypto market, offering its clients the ability to trade and store Bitcoin (BTC) and Ethereum (ETH).In a Sept. 4 press release, the bank said the new offering is integrated into its existing digital platforms, including ZKB eBanking and ZKB Mobile Banking. The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group, to execute crypto trades, the press release reads. ZKB's entry into the crypto space is not just limited to its own clients as the bank is also offering a business-to-business solution that enables other Swiss banks to provide crypto trading and custody services. Per the press release, Thurgauer Kantonalbank, a Swiss cantonal bank, has become the first partner bank to adopt this service.
Read More
Despite a bump in mining difficulty and a drop in hashprice, Bitcoin'stotal hashrate is still on the rise. In fact, on Wednesday it's just 12 exahash per second (EH/s) away from reaching its peak of 677 EH/s which was recorded on July 25. While bitcoin miners are grappling with low revenues and near-record difficulty levels, the industry's hashpower output has been nothing short of extraordinary. As of 2 p.m. EDT on Wednesday, the total hashrate is coasting along at 665 exahash per second (EH/s), just 12 EH/s shy of its all-time peak. lf bitcoin's price improves in the coming week, the hashrate could easily shatter its previous record reached on July 25.However, the rising hashrate and quicker block intervals may trigger another difficulty adjustment increase projected on Sept. 11, 2024. This afternoon on Sept. 4, around 55 recognized mining pools were powering the Bitcoin blockchain. A climbing hashrate is an encouraging sign that miners are weathering the recent revenue slump, thanks to several key buffers.
Read More
