A look at the most noteworthy industry events and important project developments in the coming week.
This week (September 25th - October 1st), the Taiwan Financial Supervisory Commission will announce 10 virtual currency regulatory principles, FTX debtors must submit customer claim proofs, and here are the highlights of the Web3 events not to be missed in the coming week:
- The Taiwan Financial Supervisory Commission is expected to announce 10 virtual currency regulatory principles by the end of September.
- The Ethereum testnet Holesky will restart on September 28th.
- Arbitrum will restart the Odyssey event.
- FTX debtors must submit customer claim proofs.
- The global AI & Web3 investment summit "The EDGE" will be held in Hong Kong.
Foresight News Calendar is updated in real time, visit for more comprehensive Web3 events
Click here to subscribe to the Foresight News Calendar
Important Events
The important events worth paying attention to this week include global virtual asset policy formulation and its impact, as well as significant developments in the FTX event.
The Taiwan Financial Supervisory Commission is expected to announce 10 virtual currency regulatory principles by the end of September. The proposed 10 major principles include strengthening information disclosure, requiring operators to establish review standards for listing and delisting, custody of platform and client assets, and specifying that individual currency traders should also implement anti-money laundering measures. One key restriction is the strict prohibition of illegal solicitation of business by foreign cryptocurrency companies. Foreign VASPs that have not registered under company law and declared compliance with anti-money laundering regulations to the Financial Supervisory Commission are not allowed to solicit business within Taiwan or to residents in Taiwan.
The Financial Supervisory Commission stated that in the future, there may be special laws for virtual currencies. Before the enactment of special laws, the Financial Supervisory Commission will manage virtual asset operators in accordance with the "Anti-Money Laundering Act." If operators fail to make a declaration of compliance with anti-money laundering regulations, the Financial Supervisory Commission will require them to make improvements, otherwise the Anti-Money Laundering Act will be used for punishment, with fines starting at 500,000 and up to 10 million NT dollars. According to data disclosed by the Taiwan Financial Supervisory Commission on September 10th, 52 virtual currency platform operators are planning to enter the Taiwan market, of which 25 (including 2 foreign companies' Taiwan branches) have completed declarations of legal compliance with anti-money laundering regulations, and 27 are in the process of supplementing documents.
In addition, this week, several major cryptocurrency exchanges such as Coinbase and Bitstamp will shut down services in certain regions due to policy reasons:
- Coinbase plans to stop serving Indian users after September 25th and advises users to withdraw all funds from their accounts;
- Bitstamp will stop providing staking services to US users after September 25th;
- Binance's fiat partner Paysafe will no longer provide Euro deposit and withdrawal services to Binance users starting from September 25th, 2023;
- Bybit will suspend its operations in the UK starting from October 1st.
Financial payment giant PayPal will also temporarily pause cryptocurrency purchases in the UK starting from October 1st, 2023, due to new rules introduced by the UK Financial Conduct Authority (FCA) that require cryptocurrency companies to implement additional steps before customers purchase cryptocurrencies. The UK's cryptocurrency financial promotion rules will take effect on October 8th, imposing stricter regulations on cryptocurrency service companies. Many UK companies related to cryptocurrencies will adjust their cryptocurrency-related services to comply with regulatory requirements before this date.
In addition to regulatory policies, it is important to note that FTX debtors must submit customer claim proofs by 4:00 PM Eastern Time on September 29th (4:00 AM Beijing Time on September 30th). According to a survey report released by FTX debtors, FTX owes customers approximately $8.7 billion, with assets of approximately $7 billion, including 38 properties in the Bahamas, nearly $2.6 billion in cash, and $3.4 billion in cryptocurrencies. Previously, the court approved FTX to sell, pledge, and hedge its held cryptocurrencies and return funds to creditors in fiat currency rather than in the form of Bitcoin or Ethereum. This includes approximately $1.2 billion in SOL tokens, $560 million in Bitcoin, and $192 million in ETH.
Project Developments
The Ethereum testnet Holesky will restart on September 28th, after the failed restart on September 15th. Nethermind has also launched the Ethereum research Nethermind client v1.20.4 to support the Holesky launch. The purpose of the Holesky testnet is to replace the soon-to-be-deprecated Goerli testnet in early 2024.
In addition, the restart of Holesky may also affect the timing of Dencun's activation on the mainnet. Tim Beiko stated that if Dencun is not released on a public testnet before Devconnect in November, its mainnet activation is unlikely to occur this year. Previously, Tim Beiko suggested launching Dencun on these testnets in the order of Holesky, Goerli, and Sepolia, but due to the failed launch of Holesky on September 15th, Jayanthi proposed to first launch Dencun on Goerli, and then on Holesky. Because Goerli is a soon-to-be-deprecated testnet, this means that developers can freely experiment with modifying Dencun specifications.
Arbitrum will restart the Odyssey event on Arbitrum One on September 26th. Arbitrum launched the Odyssey event on ArbitrumNitro a year ago, but due to congestion on the chain caused by the number of users completing transactions on-chain and the complexity of the smart contracts they interacted with, Arbitrum suspended the event in the second week. This edition of the Odyssey event will be held in collaboration with the Web3 community platform Galxe and will last for 7 weeks. Arbitrum stated that the restart will not involve any form of airdrop or reward, but completing tasks and exploring 13 projects on Arbitrum One will earn participants custom badges.
Yuga Labs' 2D strategy game Legends of the Mara (LoTM) will launch its first season beta version on September 26th, and during the first season, users can hatch Mara. Koda holders can start collecting shards and hunting early. Test version loot will be forged at the end of each season and can be used for expansion game items in LotM. Previously, Otherside hinted that some non-Yuga Labs ecosystem NFT series will be invited to join their game Legends of the Mara (LoTM).
Event Preview
As the event carnival month comes to a close, the last week of September will see major Web3 events in Hong Kong.
The global AI & Web3 investment summit "The EDGE" will be held in Hong Kong from September 25th to 27th. The event includes a startup demo day and keynote speeches and discussions on topics such as AI and Web3, AIGC, security and compliance, Cinema 3.0, and the Metaverse. Speakers include Hape CEO Ander Tsui, Hong Kong Legislative Council member Wu Jiezhuang, Shefa Capital Managing Partner and Oobit Technologies Chairman Moshe Schlisser, and others.
The DEMO DAY will be held in Hong Kong on September 27th at 14:00, providing an opportunity for innovative entrepreneurial projects to showcase. Dozens of investment institutions from China, the Middle East, Israel, Europe, and the United States have confirmed their attendance, including GEM, Plum Ventures, Delight Ventures, Zihui Ventures, as well as Web3-focused investment institutions such as Amber Group and HashKey.
In addition, AWS will host an offline event titled "AWS Web3 Day" at the Cordis Hotel in Hong Kong on September 26th from 9:15 to 16:30. The ICP Asia Alliance will also hold an event in Hong Kong on September 28th from 17:00 to 23:00.
Token Unlocks
According to Token Unlocks, from September 25th to October 1st, ACA, GAL, YGG, AGIX, EUL, OP, and 1INCH tokens will undergo one-time unlocks, with the OP token worth over $30 million unlocking on September 30th at 12:00, accounting for 3.03% of the circulating supply.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
