Hong Kong to Present Crypto Regulation Rules

According to the new requirements, fund managers, whose portfolio contains more than 10% of assets in a cryptocurrency, must obtain a license from the SFC
01 November 2018   560

The Securities and Futures Commission of Hong Kong (SFC) has published rules for cryptocurrency funds. The regulator also said that it will probably control trading platforms, Bloomberg reportes.

According to the new requirements, fund managers, whose portfolio contains more than 10% of assets in a cryptocurrency, must obtain a license from the SFC.

It is noted that companies are entitled to apply for a license if they successfully pass the test in the sandbox.

The market for virtual assets is still very young and trading rules may not be transparent and fair. Outages are not uncommon as is market manipulation and abuse. And there are also, I am afraid, outright scandals and frauds.
 

Ashley Alder

Chief, SFC 

In addition, the new rules prohibit industry participants from providing customers with any financial incentives or offering them to trade in cryptocurrency futures or derivatives.

Realistically there are two possible ways forward -- regulate or ban -- and it’s a smart move that Hong Kong has chosen to regulate.
 

Urszula McCormack

Hong Kong-based partner, King & Wood Mallesons

There's no information on any mining regulation updates by SFC. It became known in October that the Commision is preparing rules for regulating cryptocurrency business in the country.

Sapphire to Unveil Radeon RX 570 Nitro+

New GPU with 16 GDDR5 is specially designed for Grin mining
17 January 2019   109

Sapphire Technology has announced plans to release a new Radeon RX 570 Nitro + video card, equipped with 16 GB of GDDR5 memory. As reported by TechPowerApp, it is designed for Grin cryptocurrency mining.

Grin is based on the MimbleWimble protocol and the Cuckoo Cycle PoW hashing algorithm, which can load up to 11 GB of video memory, which explains the non-standard characteristics of the new graphics card.

The video card is made in the traditional Nitro + design with a dual-fan cooler and uses sixteen GDDR5 memory chips.

The cost of the Radeon RX 570 Nitro + has not yet been named, but Sapphire promises that it will be sold at the price of "one third of the cost of competing cards at 16 GB."

Aday after the launch of the main cryptocurrency network, Grin is mined by at least 88,000 graphics processors. Grin hash rate is 285.6K graphs / s.

Radeon RX 570 Nitro+
Radeon RX 570 Nitro+

In June 2017, Sapphire introduced a line of Mining Edition boards of five models, made on the basis of Sapphire Radeon RX 470 and Sapphire Radeon RX 560. The memory capacity of video cards ranged from 4 to 8 GB.