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The Japanese Financial Services Agency is promoting the transition of the crypto asset business law and simultaneously launching three stablecoin payment pilot experiments

According to market news, at the "9th BCCC Collaborative Day" held on April 21, 2026, Shigeru Shimizu, the head of the Risk Analysis Division of the Financial Services Agency (FSA) of Japan, delivered a special speech revealing significant progress in cryptocurrency regulation. The FSA has submitted a bill to the extraordinary Diet, proposing to transition cryptocurrencies from the Payment Services Act to the Financial Instruments and Exchange Act, mainly involving four core aspects: regulations on information disclosure, the establishment of new classifications for independent operators, strengthening penalties for unregistered operators, and preparing regulations against insider trading.At the same time, the FSA is advancing three "Payment Innovation Projects (PIP)" empirical experiments: first, a cross-border payment trial using yen stablecoins involving three major banks; second, on-chain settlement of securities such as government bonds, corporate bonds, and stocks based on blockchain, aiming for 24/7 continuous trading; third, an interbank tokenized deposit transfer experiment that just received support on April 3 of this month, which will be promoted in conjunction with the Bank of Japan's central bank digital currency tokenization sandbox project. Mr. Shimizu stated that blockchain has great potential in enhancing the convenience of financial services and diversifying products, and the FSA will continue to promote institutional development and practical support.

first_img Fan Wenzhong, Executive Director of the China Financial Society: We are at a moment when money shops and bill houses are transitioning to modern banking, and the decentralized intelligent agent economy will reshape the future

ChainCatcher reported live that Fan Wenzhong, Executive Director of the Chinese Financial Society and former Chairman of Beijing Financial Holdings Group, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. He pointed out that we are currently at a historical turning point similar to the transition from pawnshops to modern banking, where AI is an advanced productive force in the physical world, and Web3 represents a new type of production relationship in the digital world. The integration of the two will give rise to a Decentralized Agent Economy (DAE).He analyzed that AI Agents have execution capabilities but lack independent identity, accounts, and trust mechanisms, while Web3 addresses these pain points through smart contracts, on-chain identities, and programmable currencies; conversely, AI Agents significantly lower the barriers to using Web3. He proposed that DAE has four major characteristics: agent sovereignty and 24/7 operation, high-frequency atomic exchanges, a collaboration mechanism based on technological trust rather than moral or legal frameworks, and the organizational evolution from companies to DAOs and then to Decentralized AI Companies (DACs).He warned that this transformation will impact the labor market, with white-collar workers being replaced before blue-collar workers. AI quantitative funds have already achieved returns far exceeding those of retail investors, and he suggested that the government proactively advance social security reforms. Finally, he recommended that Hong Kong develop a self-controllable high-performance public chain, pilot limited digital persona registrations, attract Web3+AI composite talents, establish a digital finance industry fund, and promote collaborative innovation between the Hong Kong dollar stablecoin and digital renminbi.

Bitcoin mining companies face more severe halving pressure in 2028, as the industry accelerates its transition towards energy and infrastructure

According to Cointelegraph, about two years away from Bitcoin's fifth halving, mining companies are facing a more challenging operating environment than the halving in 2024. At that time, the block reward will drop from 3.125 BTC to 1.5625 BTC, compounded by record-high network hash rates, rising energy costs, and a more cautious capital market, significantly compressing the industry's profit margins.On the balance sheet front, several leading mining companies have begun to actively deleverage. MARA Holdings sold over 15,000 Bitcoins in March to reduce leverage, Riot Platforms sold over 3,700 in the first quarter, Cango sold 2,000 to repay Bitcoin collateralized debt, and Bitdeer's Bitcoin holdings dropped to zero on February 20.Industry insiders generally hold a cautious outlook. Cango's communications head, Juliet Ye, stated, "The middle ground has almost disappeared; operators with scale and diversified layouts can cope, while those lacking these conditions will struggle in the next halving." GoMining CEO Mark Zalan pointed out, "Capital discipline is now more important than maximizing hash power," and new deployment projects must meet stricter return thresholds.In terms of business models, pure block rewards have become "an increasingly thin business," with strong operators moving towards power and data center businesses, exploring additional revenue through grid peak shaving and waste heat utilization. Cango is transitioning to a dual-line model focusing on both computing power and AI workloads, with Ye stating, "The truly important facilities in five years will be those that can do multiple things simultaneously."

$50 million increase in holdings and a 15% profit ratio: Global enterprises' financial resources are accelerating the transition to "productive assets."

According to BBX data, yesterday global listed companies showed strong momentum in "revenue monetization" and "mainstream financial institutions entering directly" in cryptocurrency asset allocation:$50 million strategic increase: Nomura's digital asset subsidiary Laser Digital announced yesterday that it has completed a $50 million increase in Bitcoin treasury on behalf of its parent company. This marks the first time a major Japanese financial giant has clearly decoupled its proprietary positions from institutional brokerage business, indicating that Japanese financial institutions are beginning to view BTC as core Tier 1 capital.Direct conversion of advertising revenue: Reddit disclosed in its quarterly supplemental filing submitted to the SEC yesterday that it has begun converting part of its excess cash reserves and advertising revenue into BTC and ETH. Reddit stated that the allocation of its on-chain native assets aims to provide underlying liquidity for the future "contributor economy."$25 million hedging initial position: Zillow Group's board approved a $25 million allocation for Bitcoin yesterday. As a real estate technology giant, Zillow plans to use BTC as a cross-border liquidity buffer for its global home purchase settlement business to combat fluctuations in multiple fiat currency exchange rates.15% net profit allocation: WonderFi officially established financial guidelines yesterday, announcing that it will convert 15% of its net profit each quarter into Bitcoin reserves over the next three years. It executed its first purchase of $2.4 million yesterday, with total holdings steadily increasing.$10 million debt transformation: Stronghold Digital disclosed yesterday that the $10 million in cash freed up through a debt-to-equity agreement has all been converted into Bitcoin, establishing a financial restructuring goal of "low debt, high holdings."
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