Gate Founder Dr. Han: Gate's early completion of MiCA licensing will push the European crypto market towards fair competition.
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The Hong Kong Hang Seng Tech Index closed up nearly 5%, with Alibaba surging 12%.
According to Mars Finance, the Hong Kong Hang Seng Index closed up 2.99%, and the Hang Seng Tech Index rose 4.97%. Heavyweight tech stocks led the gains, with Alibaba surging over 12%, Xiaomi Group rising over 9%, Baidu Group rising over 6%, and JD.com and Tencent Holdings both rising over 3%. AI big data model giants Zhipu and MiniMax also surged, with Zhipu rising over 13% and MiniMax rising nearly 12%. The semiconductor sector also rose, with Shanghai Fudan University up over 6%, and Huahong Grace and SMIC both rising over 3%. The lithium sector declined, with Tianqi Lithium falling over 8% and Ganfeng Lithium falling over 7%. (Cailian Press)
Ruwei Technology's stock price fell nearly 17% on its first day of trading on the Hong Kong Stock Exchange, closing at HK$18 per share.
Mars Finance reported on July 8th that Ruwei Technology's stock price fell nearly 17% on its first day of trading on the Hong Kong Stock Exchange, closing at HK$18 per share. (Science and Technology Treasure Broadcast)
The U.S. Securities and Exchange Commission (SEC) is expected to propose cryptocurrency rules as early as this month to streamline the fundraising process for startups.
PANews reported on July 8th that, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has updated its agenda, indicating it plans to propose new cryptocurrency rules as early as this month. The rule would establish a temporary registration exemption for developers launching crypto investment contracts, allow for a certain amount of financing, and create a safe harbor for issuers exiting securities regulation. SEC Chairman Paul Atkins stated that this move aims to achieve the goal of "making the U.S. the global crypto capital," establishing clear rules for crypto asset financing, and providing clear guidance for the custody and trading of on-chain tokenized securities. This is the SEC's first major rule-making effort in the crypto space; previously, the agency had released a digital asset taxonomy and begun developing related plans to promote tokenized securities. The cryptocurrency rule is currently under review by the White House Office of Information and Regulatory Affairs.
Zcash is nearing completion of its mathematical proof to prevent hidden issuance vulnerabilities; ZEC rises 12%.
According to Odaily Odaily, Zcash's native token ZEC rose more than 12% on Tuesday after the team responsible for developing its privacy pools said they were close to completing a mathematical proof to confirm that there was no undetectable forgery or over-issuance vulnerability in the latest Zcash shielded pools. This verification work is being carried out by Project Tachyon, targeting Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof, aiming to demonstrate that the latest Zcash privacy pool does not have undetectable proliferation vulnerabilities. This development stems from the disclosure last month of a serious forgery vulnerability in Zcash Orchard's shielded pool. At the time, this vulnerability caused market concerns that Zcash's privacy system might have undetectable hidden inflation risks, causing ZEC to fall by more than 40% within two days. Developers say that with the help of AI-assisted formal verification, proof work that might have previously taken years can now be compressed into weeks. This news pushed the ZEC back above $500, its highest level since early June. (The Block)
SanDisk, Seagate, and Western Digital have fallen more than 30% from their all-time highs.
According to BlockBeats data, on July 7th, US stocks opened lower and continued to decline on Tuesday. The Philadelphia Semiconductor Index fell by more than 6%, and the memory sector continued its downward trend. SanDisk fell by more than 36% from its all-time high two weeks ago, Seagate fell by 31% from its peak, Western Digital fell by 35%, and Micron fell by 28%.
ECB, EU cenbanks seek changes in MiCA’s minimum bank deposit for stablecoins
The ECB and EU central banks want to replace MiCA’s stablecoin bank-deposit requirements with liquidity thresholds, warning that sudden withdrawals could strain lenders.