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This Week in Crypto - 1st of June

Jun 1, 2023 4 min read
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1. Hong Kong and UAE central banks collab on crypto rules, fintech development

On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the Central Bank of the United Arab Emirates (CBUAE), with the two agreeing to “strengthen cooperation” on “virtual asset regulations and developments.” The two central banks also pledged to facilitate discussions on “joint fintech development initiatives and knowledge-sharing efforts” with each region’s respective innovation hubs.

2. Tornado Cash DAO passes attacker's proposal to hand back control

Tornado Cash governance token holders are set to resume control over the protocol's operations, following an unexpected proposal by the person who attacked it. The attacker took over the protocol's governance system by managing to get a malicious proposal passed, which contained code giving them 1.2 million votes. They then used these votes to pass further proposals, handing themselves control over governance tokens that had been vested.

3. BRC-721E token standard converts Ethereum NFTs to Bitcoin NFTs

On Monday, Bitcoin Miladys introduced its BRC-721E token standard in collaboration with Bitcoin-based NFT marketplace Ordinals Market and Bitcoin wallet Xverse. The token standard is said to act as a bridge between the Ethereum and Bitcoin networks, allowing traders to convert their ERC-721 NFTs to BRC-721E tokens on Bitcoin.

4. Russia drops plans for state-run crypto exchange

Russian lawmakers have decided to end plans for creating a state-owned cryptocurrency exchange, planning instead to set rules and regulations for already existing enterprises, a Russian news outlet reported Sunday.

5. A.I. cryptocurrencies jump after Nvidia reports booming artificial intelligence demand

AI-themed cryptocurrencies got a lift Thursday from excitement around Nvidia and its increasing demand for chips that power artificial intelligence applications. Meanwhile, most of the rest of the cryptocurrency market, including bitcoin and ether, was flat.

[Dutch] Welkom bij onze wekelijkse update. Hier vindt u een kort overzicht van nieuws en gebeurtenissen in de cryptomarkt.

1. Centrale banken van Hong Kong en VAE werken samen aan cryptoregels en fintech ontwikkeling

Op 30 mei zei de Hong Kong Monetary Authority (HKMA) dat ze een ontmoeting hadden met hun tegenhangers bij de Centrale Bank van de Verenigde Arabische Emiraten (CBVAE). Ze kwamen overeen dat ze ‘de samenwerking gaan versterken’ op het gebied van ‘asset regulatie en ontwikkeling’. De twee centrale banken beloofden ook om discussies te faciliteren over ‘gezamenlijke fintech ontwikkelingsinitiatieven en het delen van kennis’ voor innovatiehubs in de regio.

2. Tornado Cash DAO passeert voorstel van aanvaller om de controle terug te geven

Governance tokenhouders van Tornado Cash krijgen de controle terug over de activiteiten van het protocol, na een onverwacht voorstel van de persoon die het heeft aangevallen. De aanvaller nam het governance systeem over door een kwaadwillend voorstel aangenomen te krijgen, dit voorstel bevatte code waarmee hij 1,2 miljoen stemmen kreeg. De stemmen werden gebruikt om voorstellen goed te keuren, waarbij ze zichzelf controle gaven over vested governance tokens.

3. BRC-721E tokenstandaard converteert Ethereum NFT's naar Bitcoin NFT's

Bitcoin Miladys introduceerde maandag hu BRC-721E tokenstandaard in samenwerking met de op Bitcoin gebaseerde NFT marktplaats Ordinals Market en Bitcoin wallet Xverse. De tokenstandaard fungeert als brug tussen de Ethereum en Bitcoin netwerken, waardoor handelaren hun ERC-721 NFT's kunnen converteren naar BRC-721E tokens op Bitcoin.

4. Rusland laat plannen vallen voor een door de staat gerunde crypto exchange

Russische wetgevers hebben besloten om de plannen te beëindigen voor een crypto exchange in staatseigendom. In plaats daarvan willen ze regels en voorschriften opstellen voor reeds bestaande ondernemingen, meldde een Russisch nieuwscentrum afgelopen zondag.

5. AI cryptocurrencies pieken nadat Nvidia de gigantische vraag naar kunstmatige intelligentie meldt

Op donderdag kregen AI cryptocurrencies een boost door de opwinding rond Nvidia en de toenemende vraag naar chips die kunstmatige intelligentietoepassingen aandrijven. Ondertussen bleef het grootste gedeelte van de crypto markt, inclusief bitcoin en ether, vlak.

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