BNB Chain plans to release BNB Greenfield testnet in a few months | Binance Morning News (February 2)

Community News:

1. BonqDAO smart contract vulnerability attack caused a loss of approximately $88 million

The non-custodial lending platform BonqDAO and the crypto infrastructure platform AllianceBlock were hacked due to a smart contract vulnerability in BonqDAO, resulting in a loss of approximately $88 million. (The Block)

2. Celsius: Eligible custodian users will be able to withdraw approximately 94% of custodian assets

Celsiu, a crypto lending platform, has released a Twitter post stating that it has released the latest information regarding the upcoming withdrawal process for certain assets in certain custodial accounts. For security and regulatory reasons, eligible users will be required to update their Celsius accounts with certain required information before any withdrawals are processed.

Industry News:

1. BNB Chain plans to release the BNB Greenfield testnet in a few months

BNB Chain released the BNB Greenfield white paper and plans to release the BNB Greenfield testnet within a few months. If BNB Greenfield is successfully launched, it will be the first public chain to combine smart contracts with decentralized storage, which will be another milestone in the development of the Web3 industry.

2. Binance and Astana Airlines reach a cooperation to support Nomad Club points to exchange BUSD

Binance has partnered with Air Astana to allow Binance users to convert their Nomad Club airline points into BUSD.

Policies and Regulations:

1. The UK Treasury published a consultation document, planning to incorporate crypto activities into the traditional financial regulatory framework

The UK Treasury (FCA) has published a consultation document emphasizing that cryptocurrencies should be brought under the existing rules set out in the Financial Services and Markets Act (FSMA) of 2000. The new system will require cryptocurrency companies to register, comply with rules set by the Financial Conduct Authority, and meet stricter anti-financial crime rules than the existing Money Laundering Regulations (MLR) for approved companies. (CoinDesk)

2. India’s Ministry of Finance emphasizes “need for a common approach to regulating the crypto ecosystem”

Indian Finance Minister Nirmala Sitharaman introduced the Economic Survey 2022-2023 in Parliament on Tuesday, covering cryptocurrencies for the first time and stressing the need for a “common approach to regulating the crypto ecosystem.” (Bitcoin.com)