Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. Ethereum Developers to launch new testnet ‘Zhejiang’</h2>Ethereum developers will open a new test network on Wednesday called “Zhejiang”.Users can start testing staked ether withdrawals on the testnet. Staked ether withdrawals are included in the protocol’s next big upgrade, the Shanghai hard fork.Testnets run on top of and duplicate the main blockchain. They allow developers and users to test upgrades and applications in a low-stakes environment before going live.This new testnet will go live at 10 a.m. ET (15:00 UTC). Users can participate in the simulated withdrawals when the testnet goes through an upgrade on Feb. 7. For now, users will be able to deposit ETH to validators on the testnet.Source: <a href="https://www.coindesk.com/tech/2023/01/31/ethereum-developers-to-launch-new-testnet-zhejiang-for-simulating-eth-withdrawals/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-1">#2. Tesla details $140M Bitcoin loss</h2>Tesla lost over $140 million on Bitcoin last year, according to a Monday filing with the U.S. SEC.The electric car manufacturer took a $204 million impairment charge while gaining $64 million through converting Bitcoin in 2022.In the filing, Tesla calls its Bitcoin holdings indefinite-lived intangible assets. These assets are periodically reviewed to determine if their value on the balance sheet exceeds their fair market value.Source: <a href="https://decrypt.co/120313/tesla-details-140-million-bitcoin-loss-to-sec" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-2">#3. Hong Kong to require stablecoin licensing</h2>Hong Kong is set to demand mandatory licensing for stablecoin issuers as early as this year and won&#39;t allow algorithmic stablecoins.Entities conducting regulated activity in Hong Kong will have to obtain a license to operate stablecoin services.It plans to supervise the governance, issuance and stabilization of fiat-backed stablecoins, for which issuers must maintain reserves matching the amount of the crypto in circulation.Source: <a href="https://www.coindesk.com/policy/2023/01/31/hong-kong-to-require-stablecoin-licensing-as-early-as-this-year/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-3">#4. UK Finance Ministry propose broad rules for crypto</h2>The U.K.’s finance ministry is proposing new rules to govern multiple areas of the crypto sector.It is asking for feedback from industry members and experts on rules that focus on protecting consumers that also align with the country’s ambition to become a hub for crypto.Some proposals will place more responsibility on trading venues like crypto exchanges. The proposed rules also target custodians and seek to regulate lending of crypto assets.Source: <a href="https://www.coindesk.com/policy/2023/01/31/uk-finance-ministry-proposes-broad-rules-for-crypto-invites-industry-feedback/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-4">#5. Wormhole wins vote to become bridge for Uniswap governance</h2>The Uniswap DAO has approved a second non-binding, “temperature check” proposal to make Wormhole the official bridge for cross-chain governance of the protocol between BNB Chain and Ethereum.The proposal will now become part of a final plan to deploy Uniswap v3 to the BNB Chain, which will go up for a binding governance vote at some point in the future.Other rival bridges considered were LayerZero, deBridge and Celer.Source: <a href="https://cointelegraph.com/news/wormhole-wins-second-temp-check-to-become-bridge-for-uniswap-governance" rel="noopener noreferrer nofollow">Cointelegraph</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/cmccommunity" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/ApolloX_Finance" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_Finance" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXFinance" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_finance/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://coinmarketcap.com/community/profile/ApolloX" rel="noopener noreferrer nofollow">CMC</a>

Crypto News of the Day: Ethereum to launch new Zhejiang testnet, Hong Kong to require stablecoin licensing

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