1. South Korea’s National Pension Service Acquires 245,000 Shares of MicroStrategy in Q2 link

The South Korean National Pension Service (NPS) disclosed in a 13F filing to the U.S. Securities and Exchange Commission (SEC) that it purchased 245,000 shares of MicroStrategy during the second quarter of this year, valued at approximately $33.75 million. Previously, in the third quarter of last year, the NPS acquired 282,700 shares of Coinbase, marking its initial indirect investment in Bitcoin. As of July 31, MicroStrategy holds a total of 226,500 Bitcoins, making it the largest corporate holder of Bitcoin outside of Bitcoin spot ETF issuers.

2. HongKong’s Crypto News This Week

2.1 HashKey: Hong Kong’s ETH ETF Likely to Introduce Staking Functionality This Year link

HashKey Group COO Livio Weng stated that the company is actively working on implementing staking functionality for Ethereum ETFs, anticipating that it could be launched within this year to meet the needs of clients moving away from U.S. dollar and Treasury investments. He added that with the interest rate cuts expected this year, rates are likely to drop even further next year, which will compel investors to reconsider their strategies. Staking in an ETH ETF could present an appealing alternative.

2.2 Hong Kong Legislator Duncan Chiu: Strengthening Digital Asset Regulations Within 18 Months link

Hong Kong Legislative Council member Duncan Chiu stated at the FORESIGHT 2024 Summit that a robust exchange system should be established, with stablecoin-related legislation expected to be introduced soon. He mentioned that Hong Kong might see the emergence of stablecoins by the end of this year, with sandbox testing already underway. Additionally, there are plans to complete the regulation and enforcement of digital asset financial products within the next year to a year and a half. The next step will be to encourage project teams to explore more innovative financial products in Hong Kong.

3. Dubai Court Recognizes Cryptocurrency for Salary Payments link

In a landmark ruling, the Dubai Court of First Instance has officially recognized the legality of using cryptocurrency for salary payments in employment contracts. The case arose from an employee’s lawsuit over unpaid wages, involving 5,250 ecowatt tokens that were not paid over a six-month period. The court, citing Article 912 of the UAE Civil Transactions Law and Federal Decree-Law №33 of 2021, affirmed the importance of cryptocurrency as a legitimate form of compensation.

4. Iran Offers $24 Reward for Whistleblowers Reporting Illegal Crypto Miners link

Due to a severe heatwave causing a national power shortage, Iran has announced a $24 reward for anyone who reports illegal cryptocurrency mining activities to authorities. In some regions of the country, temperatures have soared to 113°F (45°C), putting additional strain on the power grid. The CEO of Tavanir, Iran’s state-run power company, claimed that crypto miners have exacerbated the pressure on the grid, with 230,000 illegal mining devices already discovered, consuming up to 900 megawatts of electricity.

5. Binance Registers as Reporting Entity with India’s Financial Intelligence Unit (FIU-IND) link

Binance has announced its successful registration as a reporting entity with the Financial Intelligence Unit of India (FIU-IND). This achievement marks Binance’s 19th milestone in global regulatory compliance. Binance’s website and app are now fully accessible to Indian users. In January 2024, Binance, along with several other offshore cryptocurrency exchanges, received show cause notices from Indian authorities for “illegal operations” and was subsequently expelled from India. In May, Binance was approved as an offshore crypto-related entity by the FIU, contingent upon paying fines following a hearing with the FIU.

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6. Animoca Brands Considers IPO in Hong Kong or the Middle East by Late 2025 or Early 2026 link

Yat Siu, co-founder of Animoca, mentioned to The Block that the company is contemplating a return to the public market. After delisting from the Australian Securities Exchange in 2020, Animoca is now considering an IPO in Hong Kong or the Middle East by late 2025 or early 2026. Although the company has not yet selected advisors for the potential IPO, Animoca plans to conduct a non-deal roadshow in September as part of its preparations. In a disclosure made in April, Animoca stated that its “financial position remains strong,” with $291 million in cash and stablecoin reserves. Siu also noted that the company has invested in approximately 540 Web3 projects to date.

7. “Study Abroad” Company Involved in Cryptocurrency Money Laundering, 9 Suspects Arrested by Shandong Police link

Qingdao police successfully cracked a money laundering case involving the use of the virtual currency USDT, with the amount involved exceeding 8 million yuan. The police arrested nine suspects, and the case is now approaching the prosecution review stage. In February of this year, the Madian Police Station of the Jiaozhou Public Security Bureau apprehended a fugitive, Xue, who was involved in telecom fraud, and uncovered a suspicious “partnership” between Xue and another man, Kuang. Through further investigation, it was revealed that Xue, Kuang, and others had registered a “study abroad” company to open corporate accounts, which they then used to assist criminals in laundering money. The criminal gang profited by purchasing business licenses and corporate accounts, converting illicit funds into USDT, and taking a cut of the proceeds.

8. Malaysian Kidnapping Case Involving Chinese Citizen, $1.2 Million Ransom Paid in Cryptocurrency link

Malaysian police recently successfully dismantled a kidnapping case involving Chinese nationals. In the operation, four suspects were killed, ten were arrested, and three men and one woman remain at large. The victim, a Chinese man, was intercepted by kidnappers after arriving in Malaysia in July this year. The kidnappers released him after receiving a ransom of $1.2 million (approximately 8.62 million yuan) paid in virtual currency by his family. The police engaged in a fierce gunfight with the kidnappers in the Skudai area of Johor, recovering $373,000 in cash and items including vehicles, watches, and jewelry valued at around $700,000. The mastermind of the case was the victim’s private driver. The police are currently intensively pursuing the remaining fugitives.

9. Chinese Businessman in Thailand Robbed and Forced to Transfer $2 Million in Cryptocurrency link

Thai police reported that there were six residents in the house. One of the victims, identified as Ke Jibao, a 35-year-old Chinese businessman, stated that he and his wife were sleeping in their bedroom when four masked intruders broke into their home. The intruders demanded that Mr. Ke call a relative in China and transfer $2 million in digital currency to their account. After confirming the transfer, they stole the house’s security camera server, which had recorded the incident, and fled in the victim’s black Toyota Alphard. Mr. Ke told investigators that he was unaware of the motives behind the armed robbery and did not know how the assailants were acquainted with his relative.

10. F2Pool’s Wang Chun to Serve as SpaceX Astronaut for Polar Overflight link

SpaceX has announced that its Falcon 9 rocket will launch the sixth commercial astronaut mission, Fram2, by the end of this year. This mission will mark the first human exploration of Earth from a polar orbit and the first spaceflight over the Earth’s poles. Wang Chun, founder of the Bitcoin mining pool f2pool, will serve as the mission commander. During the 3 to 5-day mission, the crew plans to use the Dragon spacecraft to observe the polar regions of Earth from an altitude of 425 to 450 kilometers. Wang Chun tweeted: “In the history of space exploration, this is the first time a private individual has been able to rent an entire spacecraft, plan, design, and execute their own personalized mission with specific objectives. I increasingly believe that one day we will reach Mars — potentially not by a nation, but by an individual or a company.”

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