Today in the crypto space, Trump confirms his meeting with Chinese President Xi Jinping, and Japan’s Financial Services Agency is considering reforms that could allow banks to hold cryptocurrencies like Bitcoin. Meanwhile, Tornado Cash developer Roman Storm is warning open source developers against retroactive prosecution.
Trump confirms his meeting with Chinese President, causing cryptocurrencies to surge
US President Donald Trump confirmed on Sunday that he would do so Meeting with Chinese President Xi Jinping At the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, on October 31, he retracted his previous comments that there was “no reason” to attend the meeting.
“We will meet in two weeks,” Trump said. “We will meet in South Korea, with President Xi and other people as well.” He said Fox News Maria Bartiromo. He added:
“[Xi Jinping] He is a very strong leader, and a very wonderful man. You can look at what he’s done, and where he is in his life. It’s an amazing story. It’s the story of a great movie. I think we will be fine with China, but we have to reach a fair deal. “It will be fair.”
Cryptocurrency markets reacted positively to the news, as any development that eases geopolitical and trade tensions tends to boost assets that investors consider riskier.
Japan’s Financial Services Authority is considering allowing banks to hold bitcoin and other cryptocurrencies
It was reported that Japan’s Financial Services Agency (FSA). Prepare to review regulations Which may allow banks to acquire and hold cryptocurrencies such as Bitcoin for investment purposes.
The move would represent a major policy shift, as current supervisory guidelines, revised in 2020, effectively prohibit banks from holding cryptocurrencies due to volatility risks, according to a Sunday report from Livedoor News.
According to the report, the Financial Services Authority plans to discuss the reform at the next meeting of the Financial Services Board, an advisory body to the Prime Minister. The initiative aims to align crypto asset management with traditional financial products such as stocks and government bonds.
Regulators are expected to explore a framework to manage risks related to cryptocurrencies, such as sharp price fluctuations that could impact a bank’s financial health. If approved, the Financial Services Authority will likely impose capital and risk management requirements before allowing banks to hold digital assets.
Roman Sturm warns open source developers against retroactive prosecution
Tornado Cash developer Roman Storm Open source software developers bewareEspecially those working in decentralized finance (DeFi) protocols, they can be retroactively prosecuted by the US Department of Justice (DOJ).
Storm asked DeFi developers on Saturday X mail: “How can you be sure that you will not be charged by the Department of Justice as a financial services business (MSB) for building a non-custodial protocol?”
He continued, “If the Southern District of New York (SDNY) can charge a developer a fee to build a non-custodial protocol, who is safe? My case is still ongoing.”
The ruling in the Roman Storm case has significant legal implications for open source software development in the United States and puts an end to the open source software development problem A dangerous legal precedent For developers, who are not currently protected from prosecution.
