Subscribe Newsletter

Author: Wei Xiang

  • [McKinsey & Company] ๐ŸŒŠ From ripples to waves: The transformational power of tokenizing assets

    [McKinsey & Company] ๐ŸŒŠ From ripples to waves: The transformational power of tokenizing assets

    Wei Xiang

    Tokenized financial assets are moving from pilot to at-scale deployment. Adoption is not yet widespread, but financial institutions with blockchain capabilities in place will have a strategic advantage. ๐Ÿš€ Tokenization is progressing at a gradual pace, with acceleration expected as network effects gain momentum. ๐Ÿ” This expects the most prominent frontrunners will include cash and… Read more

  • ๐Ÿ’ฐUnderstanding Crypto Staking to Enhance Company Financials

    ๐Ÿ’ฐUnderstanding Crypto Staking to Enhance Company Financials

    Wei Xiang

    ๐Ÿ“˜ย Crypto Staking 101: Staking is a way of earning rewards while holding onto certain cryptocurrencies similar to interest for bank balances or dividends for shares. Only cryptocurrencies that use the Proof of Stake (POS) model can be staked such as ETH, SOL, etc. ๐ŸŒŸย Benefits of Crypto Staking: Earn passive income and Investment Diversification โš ๏ธย Risks of… Read more

  • ๐Ÿ“Œ [CryptoCFOs] Important Highlights of the Final IRS Regulation for Digital Asset Brokers

    ๐Ÿ“Œ [CryptoCFOs] Important Highlights of the Final IRS Regulation for Digital Asset Brokers

    Wei Xiang

    ๐Ÿ“ Reporting Requirements for Digital Asset Brokers: Custodial brokers must report digital asset disposition to sellers and the U.S. Internal Revenue Service (IRS) using Form 1099-DA. ๐Ÿ“œ Definition and Inclusion of Non-Custodial Actors: The IRS intends to issue further regulations for non-custodial actors, such as decentralized finance (DeFi) platforms. ๐Ÿ’ต Stablecoin Reporting Requirements: Qualifying stablecoin… Read more

  • [BINANCE] Road to One Billion On-chain Users

    [BINANCE] Road to One Billion On-chain Users

    Wei Xiang

    The adoption rate of blockchain networks is significantly slower than that of social media networks. Since the launch of Bitcoin in 2009, the number of cryptocurrency users has reached approximately 560 million as of today. In contrast, TikTok and Facebook each reached 1 billion users in just 5 and 8 years, respectively. Decentralized systems are… Read more

  • [HACKEN] Web3 Security Report | 2024 Q2

    [HACKEN] Web3 Security Report | 2024 Q2

    Wei Xiang

    ๐Ÿ“‰ Reduction in Hacks: Q2 2024 saw a significant decrease in the number of crypto hacks compared to Q1, indicating a potentially positive trend in security. ๐Ÿ“ˆ Increase in Financial Losses: Despite fewer hacks, the total amount of funds lost in Q2 2024 nearly matched the total losses for all of 2023, suggesting that the… Read more

  • 7 Qualities of a Highly Successful Web3 Chief Financial Officer (CFO)

    7 Qualities of a Highly Successful Web3 Chief Financial Officer (CFO)

    Wei Xiang

    https://www.aemledger.com/post/7-qualities-of-a-highly-successful-web3-chief-financial-officer-cfo Read more

  • [WEF] ๐ŸŒŸ Top 10 Emerging Technologies in 2024

    [WEF] ๐ŸŒŸ Top 10 Emerging Technologies in 2024

    Wei Xiang

    1. ๐Ÿค– Artificial Intelligence for Scientific Discovery: Opening new frontiers of knowledge2. ๐Ÿ”’ Privacy-Enhanced Technology: Enabling massive global collaboration3. ๐Ÿชž Reconfigurable Smart Surfaces: Transform wireless connectivity with smart mirrors4. โ˜๏ธ High Altitude Platform on the Stratosphere5. ๐ŸŒ Integrated Sensing and Communication: Building next-generation networks with digital awareness6. ๐Ÿ—๏ธ Immersive Building Technology Instruction and Maintenance7. ๐Ÿ”ฅ… Read more

  • Singapore National Asset Recovery Strategy

    Singapore National Asset Recovery Strategy

    Wei Xiang

    Money Laundering Risk in Singapore: As an international financial centre, criminals will take advantage of Singapore’s economic openness to launder illicit funds in its ecosystem. ๐ŸŽฏ Objectives of Asset Recovery in Singapore:1. ๐Ÿšซ Depriving criminals of their illegal gains2. ๐Ÿ›ก๏ธ Reduce criminal harms caused to society3. โš–๏ธ Provide recourse to victims of crime ๐Ÿ“Š Singapore… Read more

  • ๐ŸŒ [FATF] FATF Standards Implementation Report on VAs and VASPs (Updated 9/07/24)

    ๐ŸŒ [FATF] FATF Standards Implementation Report on VAs and VASPs (Updated 9/07/24)

    Wei Xiang

    The report found that while some jurisdictions have made progress in implementing anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, global implementation is still lagging. Several countries have yet to take significant steps to regulate this area, and these countries need to urgently prioritize the full implementation of these standards. Based on 130 Financial Action… Read more

  • ๐ŸŒ Navigating the Virtual Asset Service Providers (VASP) Travel Rule: A Comprehensive Guide for the Digital Assets Ecosystem

    ๐ŸŒ Navigating the Virtual Asset Service Providers (VASP) Travel Rule: A Comprehensive Guide for the Digital Assets Ecosystem

    Wei Xiang

    ๐Ÿ“œ The VASP Travel Rule, an extension of the Financial Action Task Force (FATF) Recommendation 16, mandates that Virtual Asset Service Providers (VASPs) collect and transmit sender and beneficiary information for transactions exceeding a certain threshold, typically $1,000 or its equivalent. This includes names, account numbers, physical addresses, and identification details, akin to traditional financial… Read more