[Link to FM] India's mainstream trading platform has suspended some deposit channels due to regulatory issues, and the Brazilian Senate announced that it will soon approve the "Bitcoin Law"

【Data Intelligence】

CryptoPunk 7756 was sold at a price of 1050ETH, or about $3.25 million

According to the official data of Larva Labs, CryptoPunk 7756 in the CryptoPunks NFT series was sold at a price of 1050ETH, which is about 3.25 million US dollars.

【 Regulatory News 】

India's mainstream trading platform suspends some deposit channels due to regulatory issues

On April 14, due to the uncertainty of India's official regulatory attitude, two mainstream trading platforms in India, WazirX and CoinSwitch Kuber, suspended deposit channels such as the Unified Payment Interface (UPI). The media previously reported that Coinbase had suspended support for the Unified Payments Interface (UPI) in India, with the display on its mobile app saying "This payment method is temporarily unavailable. Please try another payment method. We apologize for the inconvenience." ".

Brazil's Senate announces imminent approval of 'Bitcoin Law'

A bill to regulate the Brazilian cryptocurrency market is expected to be approved by the National Assembly in the first half of this year. The legislation, which has been debated in the House since 2015, was approved in the first round of deliberations. The Senate attached it to another cryptocurrency-focused bill, which has already been approved by the Senate Economic Affairs Committee. Two lawmakers, Senator Irajá Abreu and Assemblyman Aureo Ribeiro, who are rapporteurs on the proposal in their respective legislative chambers, are drafting a unified bill text that will be presented to the full Senate for a vote. Plenary approval of the law will not make Bitcoin legal tender in Brazil, as El Salvador has done. The proposed law would allow Brazil's president to identify a federal entity responsible for setting the rules for cryptocurrencies. The president would create a new regulator, or delegate this function to the country's Securities and Exchange Commission (CVM) or the Central Bank of Brazil (BC). Regulators will be responsible for defining market norms and establishing norms in line with international standards to prevent money laundering and asset concealment. The bill also proposes a prison sentence of four to eight years in addition to fines for those who commit fraud in providing virtual asset services. Another point highlighted by the bill is a series of incentives for cryptocurrency miners to do business in Brazil. It proposes to exempt ASICs imported into the country from the tax. However, this may not be enough to attract bitcoin miners to the country, as energy prices in Brazil are among the highest in South America, about five times higher than countries such as Paraguay and Venezuela.

【Industry Trends】

Crypto Fan Token Platform Socios Has Signed a Partnership with 13 New NFL Teams

Encrypted fan token platform Socios announced a multi-year marketing agreement with 13 teams: Atlanta Falcons, Baltimore Ravens, Chicago Bears, Cleveland Browns, Los Angeles Chargers, Los Angeles Rams, Miami Dolphins, New York Giants, Philadelphia Eagles, Pittsburgh Steelers, San Francisco 49ers, Tampa Bay Buccaneers and Washington Commanders. According to reports, these transactions do not currently include fan tokens, because the NFL currently has restrictions on such partners.

Phantom Wallet Will Release Android Public Beta

On April 14, the Solana ecological wallet Phantom announced that it will release an Android public beta version, and users can now download the corresponding software on the Google Play Store. In January of this year, Phantom has released the iOS version client.

Web3 Wallet Tracking App Context Completes $19.5 Million Financing, Led by Variant Fund and Others

On April 14th, the Web3 wallet tracking application Context announced the completion of a $19.5 million seed round of financing. This round of financing was led by Variant Fund and OpenAI CEO Sam Altman, with participation from Dragonfly Capital and other angel investors including the CEO of Quora. Adam D'Angelo et al. Context is a Web3 wallet tracking application. The new function of this application can help users automatically find and follow the Web3 wallet associated with the celebrity that the user follows on Twitter, and track the chain activity of the wallet address in real time.

Blockchain.com signs partnership sponsorship deal with Dallas Cowboys

On April 14, Blockchain.com announced a partnership sponsorship agreement with the NFL Dallas Cowboys. It is reported that the agreement includes a series of advertising and event plans, and Blockchain.com users can access relevant cooperation content with the Dallas Cowboys through its mobile application.

【Elite Viewpoint】

Veteran trader Peter Brandt: Bitcoin will either consolidate for 2 to 3 years, or rise more than 10 times

Peter Brandt, a veteran trader and CEO of research and trading company Factor LLC, tweeted that Bitcoin will either continue to trade sideways in 2-3 years, or rise more than 10 times. Brandt previously predicted that another Bitcoin "rocket phase" could begin in 2024, based on historical market cycle trends.

Tether CTO: Plans to Further Cut Commercial Paper Holdings in USDT Reserves

Tether Chief Technology Officer Paolo Ardoino said that Tether, the USDT stablecoin issuer, plans to further reduce its commercial paper holdings in its reserves, after commercial papers accounted for 30% of Tether's total reserves in the fourth quarter of 2021 from more than 44% in the third quarter. %, Tether has transferred corresponding funds from commercial paper to U.S. Treasury bonds.

【What to watch today】

MetaMask Integrates Gnosis Safe, Hex Trust, GK8, and Parfin to Meet DAO's Crypto Custody Needs

On April 13, MetaMask Institutional (MMI), the institutional arm of MetaMask, announced the integration of Gnosis Safe, Hex Trust, GK8, and Parfin onto its platform to meet the crypto custody needs of The DAO. With this new integration, MMI will have seven DAO Custodians for different jurisdictions. In October 2021, MMI has added BitGo, Qredo and Cactus Custody as custodians for institutional DeFi users to help companies meet compliance requirements.

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