Digital Money Weekly Report: August 20 - August 26

This week, the global Digital Money market remains generally stable, with a total market capitalization of $215.2 billion, a slight decline of 0.5% compared to last week. Bitcoin's price fluctuated around $6700, briefly breaking through the $6800 barrier.

Policy Dynamics

• The Central Bank of Iran will officially announce its position on Digital Money in late September, ending the unclear situation.

• The Russian Ministry of Internal Affairs is drafting an amendment to legalize the registration of businesses using open-source digital money, with unregistered activities subject to criminal liability.

• The U.S. Securities and Exchange Commission will re-examine 9 previously rejected Bitcoin ETF applications, but the completion time is not yet determined.

• The Central Bank of Kenya believes that blockchain technology poses significant risks and does not recognize cryptocurrency.

• The first phase of the Bank of Thailand's Digital Money project has been launched, with 8 banks participating.

• Chinese regulatory authorities have issued a risk warning, urging vigilance against illegal fundraising under the guise of "virtual currency" and "blockchain."

• Chaoyang District in Beijing prohibits the holding of virtual currency promotion activities in shopping malls, hotels, and other places.

• Multiple blockchain media public accounts have been permanently banned for suspected ICO speculation.

Industry Trends

• Japanese internet giant GMO is shifting its mining resources from BCH to BTC.

• Rumors of Bitmain's IPO are rampant, CEO Wu Jihan claims most of the news is false.

• North Korea will hold an international blockchain conference in Pyongyang in October to showcase its technological strength.

• The World Bank issued blockchain bonds for the first time, raising $81 million.

• Mt Gox initiates Bitcoin creditor claims application, deadline October 22.

• South Korean exchange UPbit reported a profit of approximately 100 million USD in the third quarter, far exceeding Bithumb.

Celebrity Opinions

• Jack Ma stated that he does not support Bitcoin, but believes that blockchain is one of the core technologies of the future.

• The CEO of a certain exchange believes that blockchain and cryptocurrencies will not disappear, and more people will enter the field.

• Former Vice President of the Bank of China, Wang Yongli, called for heightened attention to blockchain, but advised a rational perspective.

• Bobby Lee, a director of the Bitcoin Foundation, predicts that if mining costs exceed 54 million USD per day, the price of Bitcoin will exceed 60,000 USD.