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Mars Program Sees Huobi Venture into SpaceHuobi, the Seychelles-headquartered global crypto exchange platform, has embarked on an extraordinary journey with the launch of Phase I of the Huobi Mars Program, making it the first cryptocurrency exchange to explore the vastness of space.Photo by Ju Guan on UnsplashIntergalactic interestsThe Huobi Mars Program, outlined by the company in a recent blog article, signifies Huobi’s interest in space exploration and an expansion beyond the confines of Earth. With aspirations to venture far into the universe, Huobi is inviting its users to join them on this unique and unprecedented journey, becoming pioneers in the Web3 field to enter space.The first phase of the Huobi Mars Program, scheduled from June 2023 to June 2024, consists of 12 rounds of themed activities. Each round requires participating users to complete specific tasks and mint space-themed non-fungible tokens (NFTs).Throughout each round, one lucky user will be selected as the monthly reward winner and stand a chance to become a potential candidate for space travel. In the subsequent phase, the 12 candidates will undergo a rigorous evaluation process, including assessments of physical fitness, training, preparation, and community contribution. Ultimately, one candidate will be chosen to embark on a space journey alongside Justin Sun, a member of the Huobi Advisory Board. The space flight is anticipated to take place after July 2024.Mars Program commencedThe first round of the Huobi Mars Program opened for participation from June 14 to July 5, 2023. To earn space NFT rewards, users must complete specific tasks in spot trading, peer-to-peer (P2P) transactions, futures trading, and Huobi Earn transactions. Each completed task grants users the opportunity to mint a space NFT, with no upper limits.Space NFTs will be issued on the TRON Network and can be traded on various NFT platforms. Users need to link their TRON addresses on the event page to receive the minted NFTs. It is advised to mint the NFTs promptly as there will be a daily cap on NFT minting, and qualification does not carry over to subsequent rounds.The lucky user selected as the monthly reward winner and shortlisted as a candidate space passenger will have their space flight broadcasted worldwide via a live-stream. Huobi will conduct thorough verifications, including checking the winner’s TRON address, UID, and KYC verification, to ensure the authenticity of the winner. The winning space NFTs are non-transferable, and any attempt to transfer them will result in the forfeiture of the reward.Spot trading fee exemptionIn addition to the opportunity of becoming potential space passengers, the lucky users shortlisted during the first round of the Huobi Mars Program will enjoy the privilege of a 180-day exemption from spot trading fees on Huobi.Huobi isn’t the only crypto market participant with an interest in the intergalactic. It emerged last week that Charles Hoskinson, Founder of layer one blockchain Cardano, is funding The Galileo Project, an expedition to recover an interstellar object from the floor of the Pacific Ocean.Crypto memes boast of the likelihood of digital asset prices “going to the moon,” but Huobi’s Mars Program aligns with the pursuit of exploring the unknown and appears to amount to a noble intergalactic endeavor.

The governor of South Korea's Financial Supervisory Service (FSS) met with the United States Securities and Exchange Commission (SEC) Chair Gary Gensler, according to Korean media outlet Newsis. The meeting took place during FSS Governor Lee Bok-hyun's business trip to the U.S. The meeting with the SEC chair was pre-arranged earlier this year, as previously reported by crypto media CoinNess.  Governor Lee reportedly had high-ranking meetings with officials from the SEC and Commodity Futures Trading Commission (CFTC) between May 14 and May 16. Photo by Daniel Bernard on UnsplashDuring his meeting with the SEC chair, Governor Lee discussed various financial and cryptocurrency regulatory issues including the recent approval of spot Bitcoin ETFs, and reaffirmed the need for close cooperation between two countries in such oversight efforts. In particular, the two regulators came to an agreement to reinforce cooperation in investigation into unfair trading practices associated with securities and virtual assets. He also met with CFTC Chairman Rostin Behnam to share the recent trends regarding virtual asset legislation in the U.S. and agreed to strengthen information sharing between the two countries. The details of the meeting agendas remain confidential, as mutually agreed upon by the two supervisory organizations.   International financial regulatory cooperation Governor Lee’s latest meetings with U.S. financial regulators followed his attendance at the meeting for the Group of Central Bank Governors and Heads of Supervision (GHOS) held in Basel, Switzerland, on May 13. The GHOS is the oversight body of the Basel Committee on Banking Supervision (BCBS).  During the GHOS meeting, participants reached a consensus on the urgency of swiftly implementing Basel III, a set of bank regulation standards. Two-thirds of member countries are set to partially or completely adopt Basel III by the end of this year.  Furthermore, the member countries agreed to postpone the implementation of the Prudential Treatment of Banks' Exposures to Cryptoassets to Jan.1, 2026, considering the regulatory framework is currently under amendment.  

LINE Xenesis and Crypto.com Unite Efforts to Explore Global Blockchain Business OpportunitiesLINE Xenesis, a blockchain developer of Tokyo-based messaging app giant LINE Corporation, has signed a memorandum of understanding (MOU) with Singapore-based cryptocurrency exchange Crypto.com to explore new global business opportunities in the blockchain industry.With the establishment of LINE Blockchain Lab in April 2018, LINE Corporation has conducted research and development on blockchain-based decentralized applications (dApps), peer-to-peer networking systems, and cryptographic techniques. Thanks to this endeavor, LINE not only developed the Finschia blockchain and its native token FNSA, but also launched crypto exchange LINE Bitmax and non-fungible token marketplace LINE NFT.Photo by Shubham Dhage on UnsplashSynergistic goalsThrough this partnership, the two entities will bring together their respective expertise to advance and innovate crypto-related business solutions in Asia and beyond. They will collaborate to increase the liquidity of LINE Bitmax, strengthen crypto payment functions, and promote NFT initiatives.Founded in 2016, Crypto.com has been expanding its services worldwide. In a recent interview, Patrick Yoon, General Manager of Crypto.com Korea, shared the company’s plan to launch its services in South Korea this year. Thus far, Crypto.com has achieved virtual asset service provider registration from the Bank of Spain and secured a major payment institution (MPI) license from the Monetary Authority of Singapore. Meanwhile, despite global progress, the company ceased its institutional offering in the United States last month due to insufficient demand.Asia and beyondCommenting on this agreement, LINE Xenesis CEO Lim Inkyu said, “LINE Xenesis is exploring various ways to collaborate with the world’s leading companies in the virtual asset industry. We are excited to see the synergies created by our partnership with Crypto.com, which has more than 80 million enthusiastic users worldwide, with LINE Xenesis’ blockchain business in Japan. Starting with this collaboration in the Japanese market, we hope to work towards new business opportunities globally based on the technology and knowledge of our two companies.”Crypto.com CEO Eric Anziani echoed this sentiment, saying, “We are excited to partner with such an established and innovative brand in the APAC market and a leader in blockchain technology development in Japan. Enabling real-world utility is critical to our mission of mainstreaming crypto. Through our collaboration with LINE Xenesis, we will facilitate this utility by leveraging our respective expertise with a highly tech savvy base throughout the APAC region.”