Daily Digest - 21 June 2023

Headlines
▌The new EU data law will not make smart contracts illegal

A spokesperson for the European Commission stated that the new EU data law will not make smart contracts illegal, which dispels the encryption industry’s concerns about stifling blockchain innovation. The committee introduced the bill in 2022 following industry concerns that the Data Act, an EU law currently under consideration, imposes unfeasible requirements that smart contracts be resistant to manipulation, secure resets and controlled access, the spokesman added , although the new regulations will cover software such as self-executing contracts (in the context of data sharing), there should be no problem for suppliers of smart contract software.

Policy

▌Moody's: Bipartisan failure to advance encryption legislation may reduce the attractiveness of the United States

According to a report by Moody’s Investors Service, if the Democrats and Republicans in the United States cannot reach a consensus on how to regulate cryptocurrencies, as other countries push forward their own rules, the attractiveness of the United States to companies and investors will decrease. reduce. The report comes as the House Financial Services Committee is debating two legislative proposals to regulate stablecoins and another to more comprehensively regulate cryptocurrencies. A hearing last week revealed a broader partisan divide. Moody's analysts warned that under a comprehensive market structure draft proposed by House Financial Services Chairman Patrick McHenry (RN.C.), the Federal Reserve would not be the primary regulator of stablecoin issuers, but would be overseen by state-level regulators, which would Potentially more regulatory arbitrage and harm to consumers.

Blockchain application

▌University of Nicosia launches Metaverse course

The University of Nicosia (UNIC) in Cyprus is launching a master’s program teaching students the design and management of metaverses. The Master of Science (MSc) in the Metaverse degree is an interdisciplinary program covering areas that contribute to the development of the Metaverse, including architecture, finance, policy, social sciences and more. The program runs for a year from September to August and is divided into three semesters, focusing on two areas, Metaverse Design and Metaverse Management. The program's courses will cover topics such as augmented reality (AR) and virtual reality (VR), NFTs, blockchain data skills, marketing and project management.

Cryptocurrency

▌WisdomTree, an asset management company, has submitted an application for a spot bitcoin ETF

New York-based asset management company WisdomTree has submitted an application seeking approval to launch the WisdomTree Bitcoin Trust (WisdomTree Bitcoin Trust), which will be listed on the Cboe BZX Exchange. In the filing, WisdomTree outlined their investment objective to gain exposure to the price of Bitcoin while considering the fees and liabilities associated with the ETF’s operations. WisdomTree intends to value these funds daily based on the CF Bitcoin US settlement price, which aggregates trade flows from major Bitcoin spot exchanges. WisdomTree’s approach involves conducting “in-kind” transactions with authorized participants, enabling them to deliver bitcoins or facilitate delivery of bitcoins to the trust’s custodian, the National Association of Banks. While the names suggest trusts, both WisdomTree's filing and BlackRock's filing function as spot ETFs.

▌Data: Voyager is transferring tokens from the hot wallet, or it may be related to the reopening of withdrawals

According to Lookonchain monitoring, Voyager is transferring tokens from the hot wallet, which may be related to the re-opening of withdrawals to customers. According to previous news, Voyager will reopen to customers from June 20 to July 5, during which creditors can withdraw about 35% of the cryptocurrency.