News

Jinse Finance reported that the U.S. Commodity Futures Trading Commission (CFTC) issued a statement today announcing that it will adopt Nasdaq's surveillance system to expand cryptocurrency regulation, aiming to protect the market from fraud, abuse, and manipulation. If Congress passes the legislation currently under consideration in both chambers, the CFTC's role in cryptocurrency regulation could be significantly expanded. CFTC Acting Chair Caroline Pham stated that the new surveillance system will provide the agency with automated alerts and "cross-market analysis" capabilities, including access to comprehensive order book data to support real-time analysis and decision-making, as well as to prevent and detect abuse in both traditional and crypto asset markets. The CFTC is also preparing for the growth of the cryptocurrency market. Earlier this month, the CFTC launched the "Crypto Sprint" initiative, focusing on crypto futures trading and the recommendations made by the President's Working Group on Financial Markets for digital assets.

Jinse Finance reported that the modular blockchain infrastructure project Avail has acquired the chain abstraction protocol Arcana. According to the acquisition agreement, the Avail Foundation will obtain the entire XAR token supply of Arcana, and existing XAR holders can swap their tokens for AVAIL at a 4:1 ratio. The swapped tokens will be unlocked in phases over 6 and 12 months, while the Arcana team's tokens will be gradually unlocked over 3 years. Arcana's chain abstraction and developer tools will be integrated into Avail's technology stack, and most of Arcana's team members will also join Avail.