Dear Cyberspace Administration of China: xNY.io - Bank.org kindly seeks clarification to the recent notice of the Cyberspace Administration of China (CAC) on Public Comments on the Regulations on the Administration of Network Data Security (Draft for Comment) below. Trade Court Skewers ITC Over Secretive Redaction Policy <https://www.law360.com/delaware/articles/2316784?nl_pk=9f0ef0c6-df48-47ce-8c94-4f68ac959c6f&utm_source=newsletter&utm_medium=email&utm_campaign=delaware&utm_content=2025-03-28&read_main=1&nlsidx=1&nlaidx=4> By Dorothy Atkins The U.S. Court of International Trade issued a stinging rebuke of the U.S. International Trade Commission Thursday, clarifying disclosure laws and accusing the quasi-judicial agency of being too protective of information it deems "confidential" in violation of basic transparency rules. Opinion attached | Read full article » <https://www.law360.com/delaware/articles/2316784?nl_pk=9f0ef0c6-df48-47ce-8c94-4f68ac959c6f&utm_source=newsletter&utm_medium=email&utm_campaign=delaware&utm_content=2025-03-28&read_more=1&nlsidx=1&nlaidx=4> | Save to favorites » <https://www.law360.com/delaware/articles/2316784?nl_pk=9f0ef0c6-df48-47ce-8c94-4f68ac959c6f&utm_source=newsletter&utm_medium=email&utm_campaign=delaware&utm_content=2025-03-28&read_later=1&nlsidx=1&nlaidx=4> Chinese Fintech Investors Urge NJ Court To Keep Suit Alive <https://www.law360.com/capitalmarkets/articles/2316836?nl_pk=35f19b02-1b5d-4d87-9886-0568d6f0b360&utm_source=newsletter&utm_medium=email&utm_campaign=capitalmarkets&utm_content=2025-03-28&read_main=1&nlsidx=0&nlaidx=10> By Sydney Price Investors in Chinese fintech company 9F Inc. urged a New Jersey federal judge to keep their securities class action alive on Thursday, arguing that their third amended complaint now includes the specific details the court previously said would make their securities fraud claims viable. Memorandum attached | Read full article » <https://www.law360.com/capitalmarkets/articles/2316836?nl_pk=35f19b02-1b5d-4d87-9886-0568d6f0b360&utm_source=newsletter&utm_medium=email&utm_campaign=capitalmarkets&utm_content=2025-03-28&read_more=1&nlsidx=0&nlaidx=10> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2316836?nl_pk=35f19b02-1b5d-4d87-9886-0568d6f0b360&utm_source=newsletter&utm_medium=email&utm_campaign=capitalmarkets&utm_content=2025-03-28&read_later=1&nlsidx=0&nlaidx=10> xNY.io - Bank.org respectfully reserves all Interjurisdictional rights. Thank you, Gunnar Larson -- Gunnar Donald Arthur Peter Larson *xNY.io - Bank.org* 917-580-8053 NEW YORK, NEW YORK 10001 On Fri, Mar 21, 2025, 4:20 AM Gunnar Larson <g@xny.io> wrote:
Sending you the very best regards.
Thank you,
Gunnar Laron -- *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/> - Entrepreneurship and Innovation (ip)
G@xNY.io +1-917-580-8053 New York, New York 10001
On Fri, Feb 11, 2022, 2:08 PM Gunnar Larson <g@xny.io> wrote:
Dear Sir or Madam: We seek clarification to the recent notice of the Cyberspace Administration of China on Public Comments on the Regulations on the Administration of Network Data Security <http://www.cac.gov.cn/2021-11/14/c_1638501991577898.htm> (Draft for Comment).
The Cyberspace Administration of China <http://www.cac.gov.cn/2021-11/14/c_1638501991577898.htm> (and Hong Kong) issued new guidance on third-party products and services that cause damage to users. According to the Cyberspace Administration’s guidance, users can request Internet platform operators to pay compensation in advance for data violations.
Hong Kong is the data hub for Stacks (STX), where internet platform operators shall assume data security management responsibilities for third-party products and services connected to their platforms. Hong Kong mandates clarity of data security responsibilities for third parties through contracts and other forms, and urges third parties to strengthen data security management, and adopt the necessary data security protection measures.
- Stacks’ strong third-party presence in Hong Kong extends to China. One of Stacks’ board members has served as a leader of a Shanghai based incubator. - The looming question is if Proof of Transfer (PoX) Stacks’ extension to Proof of Burn (PoB), where miners compete by ‘burning’ (destroying) a Proof of Work (PoW) from an established blockchain, is allegedly illegal in Hong Kong, under the Cyberspace Administration’s new guidance.
PoX, when used for participation rewards (Such as with MIA Coin, NYCCoin and STX), could lead to miner consolidation. Because miners that also participate as holders could gain an advantage over miners who do not participate as holders, miners would be strongly incentivized to buy the new cryptocurrency and use it to crowd out other miners. In an extreme case, this consolidation could lead to a centralization of mining, which would undermine the decentralization goals of the public blockchain.
China, along with Hong Kong, has outlawed various forms of threats to international peace and security.
We seek the Cyberspace Administration of China's guidance if the Proof of Transfer <https://drive.google.com/file/d/1wL2kN6aMfsyT-T7g01YJSBB8meMn2SWg/view?usp=sharing> is a legal or legal consensus software algorithm in China and Hong Kong? Sending you the very best regards.
Thank you,
Gunnar Laron -- *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&utm_medium=Search&utm_campaign=MSc-Digital-Currency-North-America&utm_term=blockchain%20unic&gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ctwwMz0MRbVSk-LaYD-GMU5UgDSw7ynxbGr_a7SkaFAZzJc1-pzxEaAi4NEALw_wcB> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovation-mba-1-5-years-or-3-semesters/> - Entrepreneurship and Innovation (ip)
G@xNY.io +1-646-454-9107 New York, New York 10001