Headlines
▌Circle Has Removed All US Treasuries From Its USDC-Backed Reserve
Stablecoin issuer Circle Internet Financial has removed all US Treasuries from its USDC-backed reserves as part of a precautionary measure against the possible fallout from the looming US debt ceiling showdown.
Policies
▌EU Officially Signs MiCA Regulation into Law
The European Union formally signed off on Wednesday its landmark Marketplace in Cryptoassets (MiCA) regulation, signed by European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren, along with a separate anti-money laundering law requiring crypto providers to trade in to verify the identity of its customers when transferring funds. The MiCA will enter into force within a few weeks of its publication in the Official Journal of the European Union in June. Its terms, which provide cryptocurrency exchanges and wallet providers with licenses to operate within the 27-country bloc and require stablecoin issuers to hold appropriate reserves, will come into effect in 12 to 18 months.
Blockchain Application
▌Tencent Cloud and Chainlink Labs Form a Partnership
Tencent Cloud has established a partnership with Chainlink Labs. Tencent Cloud provides Web3 developers with tools such as cloud virtual machines and Elastic Kubernetes Service. In the future, these solutions can be used in conjunction with Chainlink Web3 services and provide access to off-chain data and computing. In addition, through this partnership, the Chainlink BUILD project will receive a Tencent Cloud service voucher worth US$10,000, priority listing of products and services in the Tencent Cloud international market, and early invitations to join the Tencent Cloud Web3 network, webinars, and events.
Cryptocurrency
▌Encrypted trading company Cumberland stopped Filecoin trading on the grounds of "regulatory environment"
Crypto trading firm Cumberland said in an alert sent to clients on Tuesday that it will stop trading tokens used by decentralised storage platform Filecoin with over-the-counter counterparties. The measure came into effect at 4:00 p.m. UTC on June 1. The firm attributed the decision to halt over-the-counter trading of cryptocurrencies to precautionary measures taken by the “regulatory environment.” It did not immediately respond to a request for further comment.
▌Encryption Exchange BitMart Launches BitMart Hong Kong Trading Platform
According to the official announcement, the virtual asset trading platform BitMart will officially launch the BitMart Hong Kong trading platform, which will provide virtual currency trading services for Hong Kong institutional investors and retail investors. Currently, BitMart Hong Kong supports spot trading of virtual assets such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). The entire platform supports English, Simplified Chinese, and Traditional Chinese respectively.