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University of Electro-Communications e-Bulletin: Radar-based human recognition for self-driving cars – PRNewswire

TOKYO, Sept. 29, 2021 /PRNewswire/ -- University of Electro-Communications publishes the September 2021 issue of UEC e-Bulletin

September 2021 issue of UEC e-Bulletin

http://www.ru.uec.ac.jp/e-bulletin/

The September 2021 issue of the UEC e-Bulletin includes a video profile of UEC Associate Professor Shouhei Kidera where he describes his recent research on "Radar-based human recognition for self-driving cars".

The Research Highlights are Radar-based human recognition for self-driving cars,' Shouhei Kidera; and 'Getting the most out of quantum systems,' Jun Suzuki.

The Topics column is an interview with Yoshihiro Nakata, Associate Professor at the School of Informatics and Engineering, Department of Mechanical and Intelligent Systems Engineering, offering insights into 'creating robots to coexist in harmony with humans in the real world'.

The News and Events describes research by Hiroshi Kohsaka on the 'relationship between the speed at which insects move and the environmental temperature'.

Research Highlights

Recognition technology: Radar-based human recognition for self-driving cars

http://www.ru.uec.ac.jp/e-bulletin/research-highlights/202109/a.html

Self-driving car technology requires detectors capable of sensing a car's environment, also in situations of limited visibility like bad weather conditions. Radar-based sensors have emerged as an essential component of driver assistance systems and self-driving vehicles, as they can robustly distinguish nearby pedestrians and other traffic-relevant objects. Apart from being applicable in bad weather, artificial recognition systems also need to be capable of dealing with so-called non-line-of-sight (NLOS) situations, when the line of sight between detector and object is obstructed. In traffic, NLOS situations occur when pedestrians are blocked from sight; for example, a child behind a parked car, about to run suddenly into the street. Now, Shouhei Kidera from the University of Electro-Communications and colleagues have developed a radar-based detection method for recognizing humans in NLOS situations. The scheme is based on reflection and diffraction signal analysis and machine-learning techniques.

The researchers performed radar experiments in an anechoic chamber (a room completely absorbing reflections). The working principle of a radar is to send radio waves to a target object and then analyse the reflected waves (e.g. changes in frequency), which provides information about the object, such as its distance to the source.

Kidera and colleagues put a metallic plate in the chamber so that a NLOS situation arises when the target object is behind the plate from the radar's point of view. The radar's frequency was 24 GHz, and two target objects were used in the experiments: a 30 cm long metallic cylinder, and a human wearing light clothes. Three regimes were investigated: complete NLOS, partially NLOS (target object positioned at the border between the NLOS and the LOS zone) and complete LOS. The signals received by the detector were intrinsically different for the metallic cylinder and the human. Even if a human stands still, breathing and small movements related to posture control cause changes in the reflected wave signals. The scientists found that the differences are enhanced by diffraction effects: the 'bending' of waves around the edges of the metallic plate.

The researchers applied a machine-learning algorithm to the reflection and diffraction signals in order to let their sensing device learn the difference between a human and a non-human object. A recognition rate up to 80% was achieved. They also performed experiments with an actual car as the shielding object, which led to similar results and additional understanding of the dependence of the recognition success rate on the radar's position relative to the target. Also, by carrying out additional experiments with a human performing a stepping motion, the scientists were able to recognize whether a human is standing still or walking, even in complete NLOS situations.

The results of Kidera and colleagues signify an important step forward to feasible self-driving car technology. Of course, in order to fully control realistic situations, more research is needed. Quoting the researchers: " there should be further investigation using other classifiers or features, which is our important future work".

Figure link http://www.ru.uec.ac.jp/topics/assets_c/202109/img1.jpg

Caption: Experimental setup used by Shouhei Kidera and colleagues. [Fig. 1b from the paper]

Reference

Jianghaomiao He, Shota Terashima, Hideyuki Yamada, and Shouhei Kidera, Diffraction Signal-Based Human Recognition in Non-Line-of-Sight (NLOS) Situation for Millimeter Wave Radar, IEEE Journal of Selected Topics in Applied Earth Observations and Remote Sensing 14, 43704380 (2021).

URL: https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=9405398 DOI: 10.1109/JSTARS.2021.3073678

Quantum state estimation

Getting the most out of quantum systems

http://www.ru.uec.ac.jp/e-bulletin/research-highlights/202109/b.html

Quantitative information about a physical system comes in the form of numbers following from the system's mathematical description equations capturing the physical processes involved. In classical physics, it is in principle possible to retrieve, by means of measurements, the complete information of a system. According to quantum mechanics, however, one can never obtain all information of a system with infinite precision because of the quantum-mechanical uncertainty principle stating that certain pairs of quantities (e.g. momentum and position) cannot be measured simultaneously with absolute certainty.

Also, in quantum mechanics, measurements affect the state of a system, so it is actually impossible to determine a system's state without prior knowledge about it. Quantum state estimation is the statistical framework addressing the question how to obtain the most but, unavoidably, still incomplete information about a quantum system from measurements.

Now, Jun Suzuki from the University of Electro-Communications and colleagues have extended the framework to include the situation of so-called 'nuisance parameters': parameters that are not really of interest but do affect the precision of estimations of other parameters that are of interest.

Nuisance parameters have been extensively studied in the context of classical physics and statistics. A key theoretical result is the Cramr-Rao inequality, providing a lower bound on the variance of the estimated value of a parameter. (The variance of a parameter is the expectation value of the square of the deviation from its mean value.) Suzuki and colleagues derived a scheme to obtain quantum Cramr-Rao bounds in the framework of quantum state estimation taking the presence of nuisance parameters into account.

After developing the general formalism, the researchers focused on the one-parameter case: the situation where only one parameter is of interest, but one or more nuisance parameters exist alongside. They succeeded in obtaining a straightforward 'recipe' for calculating the ultimate precision limit for the one parameter of interest. They applied their scheme for the description of a noisy quantum clock, as well as that of a so-called 'qudit', a multi-state generalization of a qubit. (The latter refers to a quantum-mechanical two-state system, like the spin of an electron, and is the fundamental concept underlying quantum computing.)

Suzuki and colleagues point out that their findings are relevant for quantum metrology. Quantum metrology essentially deals with estimating, with high sensitivity and high precision, parameters in quantum-mechanical physical processes by utilizing quantum resources. One of the main issues in this field is to perform quantum metrological tasks in a noisy environment; the noise thus depends on unknown nuisance parameters. Quoting the researchers: "Suitable extensions of the tools presented will, therefore, be able to quantify the effects of nuisance parameters in quantum metrology."

Reference

Jun Suzuki, Yuxiang Yang, and Masahito Hayashi, Quantum state estimation with nuisance parameters, J. Phys. A: Math. Theor. 53, 453001 (2020).

URL: https://iopscience.iop.org/article/10.1088/1751-8121/ab8b78 DOI: 10.1088/1751-8121/ab8b78

Researcher Video Profiles

http://www.ru.uec.ac.jp/e-bulletin/researcher-video-profiles/202109/a.html

Shouhei Kidera, Associate Professor Department of Informatics Graduate School of Informatics and Engineering.

Radar-based human recognition for self-driving cars

Shouhei Kidera and his group is focusing on recognizing pedestrians using millimeter wave radarthat enables sensing in darkness, fog, or rainfor self-driving cars. "We use millimeter wave radar because it is effective for recognizing pedestrians even in non-line-of-sight sensing scenarios by exploiting diffraction signals," explains Kidera. "Most other radar based human recognition methods use micro-Doppler analysis. However, this approach needs higher Doppler velocity, temporal, and range resolution. Our approach is based on raw data machine learning, assuming Non-Line-of-Sight (NLOS) scenarios."

Kitera and his colleagues use Frequency Modulated Continuous Wave Millimeter Wave (FMCW MMW) radar with 24 GHz center frequency, 700 MHz bandwidth, and horizontal and vertical beam widths of the radar of 45 degrees and 6.5 degrees, respectively.

In recent research they studied two different types of targets: a metallic cylinder, and a human with static motion and breathing [1].

In a Line of Sight scenario the team compared reflection responses from a human and metallic cylinder. "We obtained Gaussian distribution reflection spectra for a specific range," says Kidera. "We confirmed the temporal variation of the response of a stationary human body in both amplitude and phase, which did not appear in cylinder target. These differences are promising for discriminating between human and metallic cylinders."

Finally, the team investigated support vector machines (SVM) based machine learning using a variety of features with corresponding raw data (Details in the video).

Notably, the results on the recognition rate between human and metallic cylinder and SNR, and showed perfect recognition in LOS or partially NLOS situations. Also, in completely NLOS case, the recognition rate increased to 80 % by exploiting multiple temporal features, even in very lower SNR situations.

Reference

Jianghaomiao He, Shota Terashima, Hideyuki Yamada, and Shouhei Kidera, Diffraction Signal-Based Human Recognition in Non-Line-of-Sight (NLOS) Situation for Millimeter Wave Radar, IEEE Journal of Selected Topics in Applied Earth Observations and Remote Sensing 14, 43704380 (2021).

URL: https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=9405398 DOI: 10.1109/JSTARS.2021.3073678

Website: http://www.ems.cei.uec.ac.jp/index_e.html

Topics

http://www.ru.uec.ac.jp/e-bulletin/topics/202109/a.html

Creating robots to coexist in harmony with humans in the real world

Yoshihiro Nakata, Associate Professor, School of Informatics and Engineering, Department of Mechanical and Intelligent Systems Engineering

"The is extensive research on autonomous robots and androids that look and behave like humans", says Yoshihiro Nakata, an associate professor at the School of Informatics and Engineering, UEC Tokyo. "Ultimately, in order for robots to become an integral and functional part of modern society, they must be able to move freely within everyday social settings alongside humans, without danger or concern. The key to realizing such a society is for robots to be able to "gently interact" with humans without the unnatural rigid movements associated with conventional robots. To achieve a society of "gentle robots" it is necessary to develop new generations of actuator technology. This is the goal of my research. Namely, to develop actuators for powering "gentle and socially acceptable robots."

Nakata's research can be divided into three types: actuators, mechanisms, and humanoid robot research. In actuator research, Nakata and his colleagues have focused on making actuators that mimic the flexibility, power, and agility of human muscles, with the goal creating machines with a gentle touch.

Research on mechanisms he has been trying make a "body that can tolerate various forms of contact from the environment and "feel" the force not via joints but by the whole bodythe goal is to create machines that gently feel such forces.

The third is research theme is on humanoid robots, with the goal of creating robots that can be part of the natural world without feeling the burden on people in society.

"I started research on actuators when I was an undergraduate student," says Nakata. "For flexibility and agility, I developed linear motors as actuators for robots. And since linear motors do not have an intrinsic deceleration mechanism and is direct drive, it is possible to devise actuators with flexibility against external forces, with high response and high accuracy by driving with electromagnetic forces."

Now, since moving to UEC Tokyo in March 2021 Nakata has defined three goals for this research for the development of robots that behave in a human-friendly manner in the real world.

Read morehttp://www.ru.uec.ac.jp/e-bulletin/topics/202109/a.html

News and Events

http://www.ru.uec.ac.jp/e-bulletin/news/202109/a.html

September 28, 2021

Relationship between the speed at which insects move and the environmental temperature

Hiroshi Kohsaka an associate professor at UEC Tokyo, and colleagues report that the speed of movement of fly larvae varies from species to species. Furthermore, they found that larvae in cold regions tend to move slowly, and those in warm regions move faster. These results suggest that environmental diversity has contributed to the evolution of the diverse movement patterns exhibited by animals.

Reference

Yuji Matsuo, Akinao Nose, Hiroshi Kohsaka, Interspecies variation of larval locomotion kinematics in the genus Drosophila and its relation to habitat temperature, BMC Biology 19, 176 (2021). DOI: 10.1186/s12915-021-01110-4

https://bmcbiol.biomedcentral.com/articles/10.1186/s12915-021-01110-4

Figure link http://www.ru.uec.ac.jp/topics/assets_c/202109/img_news1.pngCaption: Summary of research details

Further information

University of Electro-Communications 1-5-1 Chofugaoka, Chofu, Tokyo 182-8585 E-mail: [emailprotected] Website: http://www.uec.ac.jp/

About the University of Electro-Communications http://www.uec.ac.jp/

The University of Electro-Communications (UEC) in Tokyo is a small, luminous university at the forefront of pure and applied sciences, engineering, and technology research. Its roots go back to the Technical Institute for Wireless Commutations, which was established in 1918 by the Wireless Association to train so-called wireless engineers in maritime communications in response to the Titanic disaster in 1912. In 1949, the UEC was established as a national university by the Japanese Ministry of Education and moved in 1957 from Meguro to its current Chofu campus Tokyo.

With approximately 4,000 students and 350 faculty members, UEC is regarded as a small university, but with expertise in wireless communications, laser science, robotics, informatics, and material science, to name just a few areas of research.

The UEC was selected for the Ministry of Education, Culture, Sports, Science and Technology (MEXT) Program for Promoting the Enhancement of Research Universities as a result of its strengths in three main areas: optics and photonics research, where we are number one for the number of joint publications with foreign researchers; wireless communications, which reflects our roots; and materials-based research, particularly on fuel cells.

Website: http://www.uec.ac.jp/

SOURCE University of Electro-Communications

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Press registration open for the virtual 2021 Fall Meeting of the APS Division of Nuclear Physics – EurekAlert

Nuclear scientists will present the latest research on the fundamental nature of matter at the 2021 Fall Meeting of the APS Division of Nuclear Physics.

Held fully virtually October 11 through October 14, 2021, the meeting includes talks on the neutron lifetime, quark matter, designer molecules, quantum hadrons, catastrophic astrophysical events, and nuclear fission. Sessions cover topics from hadron physics, nuclear astrophysics, and rare isotopes to quantum technology and the frontiers of nuclear science.

Members of the media and student journalists are invited to explore more than 100 live sessions and poster sessions. Featured talks and additional meeting highlights are listed below. Four live news briefings for the press will be held virtually. Please consult the scientific program for the most up-to-date schedule.

Please note all session times are in Eastern Daylight Time (EDT).

Complimentary registration is available to those with APS press credentials on the general meeting registration page. Request press credentials through this form.

Live virtual news briefings for the 2021 Fall Meeting of the APS Division of Nuclear Physics will be held online. Researchers will take questions from the media. Register at the links below. Recordings of the briefings will be available upon request.

Novel Experiment Measures Neutron Skin in CalciumRegister for the news briefingTuesday, October 12, 10:00 a.m. - 11:00 a.m. EDT

This highly-anticipated, long-awaited measurement of the neutron skin of the modestly sized, neutron rich 48Ca nucleus will provide an important benchmark for nuclear theory.

Quarks and Antiquarks at High Momentum Shake the Foundations of Visible MatterRegister for the news briefingTuesday, October 12, 2:15 p.m. - 3:15 p.m. EDT

SeaQuests measurement of light sea-quark flavor asymmetry is surprising as it clearly shows that even at high momentum fractions, antimatter is an important part of the proton.

Results from a new transformative measurement of a novel observable that provides direct insight into the origin of the EMC effect, with major implications for our understanding of the QCD structure of visible matter.

The Most Precise Measurement of the Neutron LifetimeRegister for the news briefingWednesday, October 13 at 12:30 p.m. - 1:30 p.m. EDT

Gonzalez will present the most precise measurement of the lifetime of the "free" neutron, which, along with the proton, is a building block of atomic nuclei.

Surprising Results From Nuclear Reactions Inside StarsWednesday, on October 13, 1:30 p.m. - 2:30 p.m. EDTRegister for the news briefing

Preliminary data on the effects of high magnetic fields on accreting neutron stars will be explained, including magnetar accretion and x-ray bursts.

The Most Precise Measurement of the Neutron LifetimeA multi-institutional team of physicists will present new measurements that may explain how atomic nuclei formed in the early universe. The huge improvement in precision will finally allow researchers to probe a discrepancy in the standard model. [Forthcoming PRL Paper] [Live News Briefing Registration]

Novel Experiment Measures Neutron Skin in CalciumFirst results from a precision measurement of the neutron skin in a calcium nucleus will be announced. We expect to set a benchmark with this measurement. The neutron skin in lead came out thick relative to our expectations, so we expect the same with calcium, says Robert Michaels, a staff scientist at Jefferson Lab. [Live News Briefing Registration] Read More

New Results From the RHIC Spin ProgramResearchers will present the latest results on contributions of quarks and gluons and future measurement opportunities at the Relativistic Heavy Ion Collider (RHIC). The findings will also be published in Physical Review Letters. Read More

Quarks and Antiquarks at High Momentum Shake the Foundations of Visible MatterJefferson Lab and Fermilab experiments present new results on nucleon structure. Preliminary results using a novel tagging method could explain the origin of the longstanding nuclear paradox known as the EMC effect. Meanwhile, authors will share next steps after the recent observation of asymmetrical antimatter in the proton.[Live News Briefing Registration] Read More

Nuclear Physicists Track Money Crimes From Ancient Rome to Benjamin FranklinA new project unearths the history of fraud, forgery, and currencyand might clear Emperor Neros name. Read More

Surprising Results From Nuclear Reactions Inside StarsWhen extremely high temperatures and magnetic fields meet in space, they change the environments where elements are forged. Preliminary data shows unexpected effects of magnetic fields on neutron stars. It may actually explain some of the strange behavior that we see in stellar environments, said Western Michigan University professor Michael Famiano.[Live News Briefing Registration] Read More

To Find Sterile Neutrinos, Think SmallTwo small-scale experiments may beat the massive machines pursuing evidence of new physicsand could improve cancer treatment. Read More

Seeking the Star Stuff That Made UsNovel techniques provide a new picture of cosmic heavy-element formation by unifying theory, observation, and experiment. These complementary approaches are yielding surprising results. Read More

A 5-Sigma Standard Model Anomaly Is PossibleFrom the moon to the math, latest attempts at breaking CKM matrix unitarityand discovering new physics. Read More

9:30 a.m. EDT Designer MoleculesIn July, a study of radium monofluoride reported results that might help explain nuclear phenomena and why theres so little antimatter in the universe. Now the team shows how to customize RaF nuclei one neutron at a timepotentially allowing scientists to turn on and off interactions within molecules and explore violations of fundamental symmetries. [Abstract], Silviu-Marian Udrescu, sudrescu@mit.edu

9:30 a.m. EDT Primordial FlavorStrangeness, charm, and beauty reveal the inner workings of the early universe, extreme nuclear matter, and the physics of parton showers in this mini-symposium on hadrons. This is the first calculation of heavy flavor jet production at the Electron-Ion Collider, said invited speaker and physicist Ivan Vitev. [Abstracts] [PRL Paper] [Preprint], Ivan M. Vitev, ivitev@lanl.gov

10:54 a.m. EDT First Hadrons on a Quantum ComputerScientists have succeeded in simulating hadrons on a quantum computer, unlocking key elements of the lattice gauge theory that describes all matter. [Abstract], Jinglei Zhang, jingleizl@gmail.com

10:54 a.m. EDT Stellar ToothpasteWhy is fluorine so rare in the universe? Counting bubbles using a new detector might hold clues, illuminating the reaction rate at which stars produce the ingredient in drinking water, toothpaste, and Teflon. [Abstract], David Neto, dneto2@uic.edu

11:45 a.m. EDT A Single Physical Property Sets the Complexity of Quantum SimulationNew results solve a problem that remained open for two decades and bring the quantum simulation of condensed-matter, nuclear, and high-energy physics closer to reality. [Abstract] [Nature Paper], Burak Sahinoglu, sahinoglu@lanl.gov

12:33 p.m. EDT Why Deuterons Disintegrate DifferentlyBaffling recent experiments on deuteron disintegration have defied known nuclear interpretations. Now theorists think they have an explanation: New structures hide in the heart of the deuteron at very short distances. The research may change what we know about neutron stars and the stability of matter in the universe. [Abstract], Misak M. Sargsian, sargsian@fiu.edu

12:57 p.m. EDT The Shape of NucleiSmashing deformed nuclei together takes a snapshot of the nuclei shape. The new imaging method by the STAR Collaboration, using high-energy nuclear collisions, has revealed a rugby-ball shape in ruthenium-96 and a pear shape in zirconium-96. [Abstract], Chunjian Zhang, chun-jian.zhang@stonybrook.edu

1:09 p.m. EDT Excited TritonsPreliminary data could reveal the first experimental evidence for an excited state in the triton, a heavier version of the proton with two extra neutrons, but alternative explanations need to be excluded. [Abstract], Cody E. Parker, ceparker@comp.tamu.edu

3:12 p.m. EDT Symmetry Violations Thanks to the Neutron Electric Dipole MomentUpdated analysis on tests for the neutron electric dipole moment could shape the search for Lorentz symmetry violation. [Abstract],Prajwal T. MohanMurthy, prajwal@alum.mit.edu

About APS The American Physical Society is a nonprofit membership organization working to advance and diffuse the knowledge of physics through its outstanding research journals, scientific meetings, and education, outreach, advocacy, and international activities. APS represents over 55,000 members, including physicists in academia, national laboratories, and industry in the United States and throughout the world. Society offices are located in College Park, Maryland (Headquarters), Ridge, New York, and Washington, DC.

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Elon Musk says cryptocurrency regulators should ‘do nothing’ and ‘let it fly’ – Fox Business

Slatestone Wealth's Chief Market Strategist Kenny Polcari reacts to Chinas central bank declaring all transactions involving Bitcoin and other virtual currencies illegal.

Tesla CEO Elon Musk said on Tuesday that governments should stay out of regulating the cryptocurrency market.

"It is not possible to, I think, destroy crypto," Musk told New York Times columnist Kara Swisher during the Code Conference in Beverly Hills, California. "But it is possible for governments to slow down its advancement."

Instead, he believes that regulators should simply "do nothing" and "just let it fly."

BITCOIN MINERS EYE NUCLEAR POWER AS ENVIRONMENTAL CRITICISM MOUNTS

His comments come as the chairman of the Securities and Exchange Commission, Gary Gensler, has referred to cryptocurrencies as the "Wild West" of digital assets and has pushed for greater regulation in the United States. Meanwhile, China launched its own crypto crackdown last week, declaring all transactions and mining activities in the country illegal.

Musk weighed in on China's ban, noting that part of it likely has to do with the country's "significant electricity generation issues."

"A lot of South China is having random power outages because the power demand is higher than expected," he explained. "Crypto mining might be playing a role in that."

Musk himself warned of the "insane" electricity consumption of Bitcoin mining earlier this year, and reversed course on accepting the world's largest cryptocurrency as an alternative form of payment for Tesla vehicles due to its heavy dependance on fossil fuels. However, the electric vehicle maker still holds Bitcoin on its balance sheet after purchasing $1.5 billion worth of it in February.

In addition to China's potential concerns about its energy consumption and environmental impact, Musk said that cryptocurrency is "fundamentally aimed at reducing the power of a centralized government" and that the Chinese "don't like that."

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Looking ahead, Musk expressed hope that the cryptocurrencies could help reduce "error and latency" in the financial system, but emphasized that he wouldn't call himself a "massive cryptocurrency expert."

"I think theres some value to cryptocurrency," Musk said. "I dont think its the second coming of the messiah, which they all seem to think."

As of the time of publication on Wednesday, the cryptocurrency market is trading higher, with Bitcoin currently around $42,000 per coin and rivals Ethereum and Dogecoin around $2,900 and 20 cents per coin, respectively, according to real-time price tracking by Coindesk.

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First cryptocurrency fund approved in Switzerland – Cointelegraph

Cryptocurrency adoption continues gaining momentum in Switzerland as local financial authorities grant more regulatory approvals for crypto investment instruments.

The Swiss Financial Market Supervisory Authority (FINMA) has approved the Crypto Market Index Fund as the first crypto fund according to Swiss law, the authority officially announcedon Wednesday.

The fund is launched by Swiss asset manager Crypto Finance and is administered by investment management firm PvB Pernet von Ballmoos AG with custody by regulated custodian SEBA Bank AG.

FINMA noted that the newly approved fund is restricted to qualified investors, investing primarily in cryptocurrencies or digital assets based on the blockchain or distributed ledger technology.

The regulator said that the Crypto Market Index Fund may only invest in leading cryptocurrencies with a sufficiently large trading volume. According to Crypto Finance, the fund will track the performance of the Crypto Market Index 10, a product administered by the SIX Swiss Exchange.

The objective of the Crypto Market Index 10 is to reliably measure the performance of the largest, liquid crypto assets and tokens and to provide an investable benchmark for this asset class, Crypto Finance noted.

Related: SEBA Bank granted the first Swiss digital asset custody license

FINMA added that it would require investors to invest only through established counterparties that are based in a member country of the Financial Action Task Force and are subject to corresponding Anti-Money Laundering regulations.

In conjunction with the fund approval, FINMA has also approved SEBA Bank AG as an institutional-grade custodian service by granting the firm a CISA license. Previously, the authority officially allowed SIX Swiss Exchange to launch a digital marketplace and central securities depository built on distributed ledger technology in early September.

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Cardano is no longer the worlds third largest cryptocurrency – Business Insider India

While the rest of the crypto market struggled to decide its direction, the decentralised blockchain platform was knocked off its perch by Tether, the largest stablecoin in the world, on September 29.

This time around, even the slew of new partnerships announced by the platform barely two days ago, were not enough to shelter Cardano from the pressures of the global crypto market, which has settled into a slump.

"[It is an] autonomous bank that buys and sells stablecoins for a price in a range

Cardano founder, Charles Hoskinson, describes Djed in its whitepaper published in August 2021

Just like Google has the Play Store for Android Apps and Apple has the App Store, the Plutus dApp Store is where users will be able to download applications that are powered by Cardano.

And, if all this wasnt enough, the commercial and venture capital arm of the cryptocurrency, Emrugo, announced $100 million in fresh funding to further develop the Cardano ecosystem.

The higher the market cap of a particular digital asset, the more dominant it is considered to be in the global market. The more dominant it is, the more likely it is to weather the tides of time in the volatile environment that is cryptocurrencies.

The crypto market initially shrugged off Chinas proclamations as just another scare tactic. However, big wig companies did not have the same reaction.

The biggest crypto exchanges in the world, Binance and Huobi, announced they will no longer be accepting new registrations from users based out of China. Sparkpool, the second largest mining pool in the world for Ethereum, will be shutting down operations in less than 24 hours. And, Alibaba Chinas e-commerce giant announced it will no longer be selling mining equipment.

SEE ALSO:Keeping your cryptocurrency safe 12 ways to keep hackers, scammers and fraudsters at bay

Alibaba, Binance, Sparkpool and other companies are scrambling to avoid any heat from China over crypto concerns

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Top cryptocurrency prices today: Profit booking pushes prices lower, Ethereum tanks over 5% – Economic Times

New Delhi: Amid uncertainty over its legitimacy in some of the largest economies, major cryptocurrencies lost momentum and declined in early trade on Tuesday.

Among the top 10 names, Ethereum was the biggest loser, down over 5 per cent. Polkadot, Cardano, Binance Coin and XRP dropped 3-5 per cent. Others also declined over 2 per cent.

The battle between the bears and bulls continues, which is probably why ETH has been in a consolidating phase over the past few days, trading in a range-bound fashion between $2,800 and $3,200. The asset faces a strong psychological resistance at $3,300, which if the asset crosses and sustains, is likely to witness another strong rally, said analysts at ZebPay Trade Desk.

The total volume in DeFi stood at $16.83B, 17.29 per cent of the total crypto market's 24-hour volume. The volume of all stable coins was $78.85B, 81.02 per cent of the total crypto market's 24-hour volume.

Meanwhile, cryptocurrency exchanges and providers of crypto services are scrambling to sever business ties with mainland Chinese clients after Beijing last Friday issued a blanket ban on all crypto trading and mining.

In a culmination of years of efforts to rein in the sector, 10 powerful Chinese government bodies including the central bank, said overseas exchanges were barred from providing services to mainland investors via the internet - a previously grey area - and vowed to jointly root out "illegal" cryptocurrency activities.

Tech View by Giottus Cryptocurrency ExchangeHedera Hashgraph is a blockchain platform that supports third party applications much like Ethereum and Solana. The key differentiator being that all such applications are supervised by a group of businesses (via an approved group of nodes). Though it raises questions about its decentralized nature, this strategy enables it to support high transaction speeds, which Hedera argues, ensures businesses get the guarantees they need on transaction finality and state. Recently, Indias premier institute, IIT Madras, joined Hederas governing council to drive its R&D in the blockchain space.

HBAR is the cryptocurrency of the platform and has been grabbing attention globally due to its recent price actions. HBAR rallied from $0.25 in the beginning of September to a high of $0.576 - a 2.3x gain within a couple of weeks. Since then, it entered a correction phase along with the rest of the market and is currently trading at $0.32. With this movement, it has formed a large head and shoulders pattern on the daily chart - a fundamentally bearish pattern which could send it down to $0.25 or lower if it plays out, especially with Bitcoins price actions currently indeterministic. It is also breaking its recent horizontal support level and has formed successive lower highs.

Major LevelsSupport: $0.3049, $0.2949Resistance: $0.379, $0.3915

(Time is in UTC and the daily time frame is 12:00 AM - 12:00 PM UTC)

(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)

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Do You Need To Pay Income Tax On Gains From Cryptocurrency? – NDTV Profit

The government plans to compartmentalize virtual currencies and their tax based on their use

The rapid rise of cryptocurrency in India has opened up several business and income opportunities for a number of people. Some people are interested in quickly creating wealth by directly trading in the popular, and sometimes high-yield, coins, while others are creating ways to accept them as payments at restaurants and online shops. There are also some who may have gained cryptocurrency through mining. However, there is some confusion about how the government may tax these incomes or how an individual or institution should declare them. The move by authorities to first ban and then allow trading in virtual coins has only added to the confusion.

In 2018, the Reserve Bank of India banned banks and other financial institutions from facilitating transactions in cryptocurrency like Bitcoin, Ethereum, Dogecoin, and others. Later, in early 2020, the Supreme Court reversed the order, allowing trading of these virtual coins. Still, they have not yet received the status of a legal tender in India. The RBI has said it is working on its own cryptocurrency and will proceed with caution, keeping in mind the disruption this new form of currency may cause to the existing financial order.

Despite all that, you will have to pay taxes on these incomes. The confusion is whether to declare them as capital gains or in any other source.

The government plans to compartmentalize virtual currencies and their tax based on their use, be it investments, payments, or utility.

The government has already made it mandatory for companies dealing with virtual currencies to disclose profit or loss incurred on transactions. It also asked them to disclose the amount of cryptocurrency they hold in their balance sheets. But this has not yet brought the taxability laws to govern their transactions. Still, the income tax laws have always sought to tax income received irrespective of how it was received.

So there are primarily four scenarios of income from cryptocurrency.

1.Mining

Mined cryptocurrencies are self-generated capital assets. Subsequent sale of such bitcoins would usually give rise to capital gains.

2. Transferred in exchange for real currency

The appreciation in the value of cryptocurrency held as an investment may classify as a long-term capital gain or a short-term capital gain depending on how long the asset has been held.

3. Income from trading activity

The income from trading crypto coins would constitute income from business and hence the profit can be taxed as applicable tax slabs.

4. Received on sale of goods and services

These cryptocurrency gains can be treated on a par with receipt of money. So the recipient would be taxed under the head profits or gains from business or profession.

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The World Needs Cryptocurrency | Opinion – Newsweek

Cryptocurrency remittances are now a lifeline for Afghans. Following the U.S.' abrupt departure led Western Union to temporarily cease operations. Banks in Afghanistan also severely limited withdrawals. As regulators in remittance source countries like the U.S. and U.K. turn their sights on crypto, they should remember how indispensable those currencies are to some of the world's most vulnerable.

Crypto will become increasingly indispensable as local currenciesin Afghanistan and elsewherebecome not only difficult to access but unreliable as a store of value. Conflict fuels inflation, which makes currencies less valuable, or sometimes worthless.

If we regulate cryptocurrency transfers to appease the crypto hawks at home, we risk turning our backs (again) on those who need this asset class the most: the Afghan people and many like them.

With the Taliban takeover comes the freezing of Afghanistan's financial system too. Foreign aid has halted, which makes up approximately 40 percent of Afghanistan's GDP according to the World Bank. Similarly, foreign reserves of the Afghanistan Central bank have been frozen, which is approximately $9 billion.

What's more, in response to the Taliban's take-over and western countries halting foreign aid, international money transfer companies like Western Union and MoneyGram shut off their services (in some cases they have now resumed activity, for now), leaving the average Afghan with no way to engage with the global financial system and crucially no way to receive remittances from relatives abroad.

Remittances, the practice of sending money "back home" from rich countries, makes up approximately 4 percent of the country's GDP. In an economy that is so heavily cash-dependent, the sudden crumbling of the local financial infrastructure may well mean the difference between life and death for many Afghans.

For remittances to continue to be a lifeline, they need to be fast. When money is needed, it is often needed instantly. An internally displaced person, for example, cannot wait for three to five days while funds are cleared; they need food fuel, and medical supplies today.

Bitcoin "maximalists" make wide-eyed claims about how crypto will change the global economic system. Whether you believe them or not, we can see that crypto has already revolutionized remittances in unstable, conflict-ridden places. Afghanistan presents a textbook use case for cryptocurrencies in failed states.

Sometimes, sheer necessity creates the strongest argument for new tech. Afghanistan is 20th on the list of 154 countries in the Global Crypto Adoption Index formulated by Chainalysis, a blockchain data platform. When adjusted for peer-to-peer transactions (including remittances), it ranks 7th. In 2020, Afghanistan didn't even make the list.

Afghanistan is not alone. Crypto usage has spiked recently in Lebanon, Turkey and Venezuela. People there are not trying to get richthey are simply trying to receive funds from relatives abroad, and stop their wealth from disappearing at a time of high inflation.

"Many people are mining and trading cryptocurrencies not to acquire products, but to protect themselves from hyperinflation," said Venezuelan-based crypto consultant Jhonnatan Morales. Venezuela has the third highest crypto usage in the world. It also has one of the highest rates of inflation (up to 2,940 percent).

Lebanon is another example. As the Lebanese lira lost 80 percent of its value, Lebanese downloads of bitcoin wallet BlueWallet grew by 1,781 percent in 2020, compared with the same period in 2019.

Afghanistan may be the most urgent and tragic case of why the global south needs crypto. As cash becomes scarce, prices soar and as the Taliban loses foreign aid the country was previously dependent upon, the already crumbling Afghani currency will get even weaker. By allowing the Afghan people to receive, store and spend their wealth in Bitcoin, they may be able to protect themselves against the worst effects of a failed state.

And this is what we must remember when we regulate cryptocurrencies in the West. Regulation will not just affect speculators; it will hit those who want to send remittances "back home." Those who receive remittances have the most to lose.

When Federal Reserve Chair Jerome Powell publishes his report on the next stage of cryptocurrency regulations, I hope that he doesn't forget those who need cryptocurrency the most: the Afghan people, and millions across the world like them.

While the West may have turned its back on the people of Afghanistan, we need to make sure that our laws don't continue to leave them in the dark. We need cryptocurrency regulation that ensures those vital financial lifelines are not lost. If we do, we are closing another door of hope for the people who need it the most.

Joshua Jahani is a lecturer at Cornell and NYU and an investment banker. He has written for or contributed to Newsweek, BBC World News and The Independent.

The views expressed in this article are the writer's own.

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Europe is now the world’s cryptocurrency capital as China’s Bitcoin bans start to bite – Euronews

Europe is now the world's biggest cryptocurrency economy, with the continent receiving over 870 billion in crypto in the past year.

Countries in central, northern and western Europe (CNWE) accounted for 25 per cent of all global cryptocurrency activity, new analysis by blockchain data firm Chainalysis found.

The United Kingdom saw the largest volume of cryptocurrency trading in the CNWE region, at around 145 billion. The UK was followed by France, Germany, the Netherlands and Spain.

At the same time as crypto transaction volumes in Europe began to increase in mid-2020, volumes in East Asia - the previous world cryptocurrency capital by transactions - entered a steep decline.

According to Chainalysis, Europe's growth was largely driven by so-called "whales", large institutional investors shifting enormous sums of cryptocurrency.

"CNWEs cryptocurrency economy began growing faster in July 2020. At this time, we saw a huge increase in large institutional-sized transactions, meaning transfers above $10 million (8.5 million) worth of cryptocurrency," the Chainalysis report said.

The firm's data shows how significant that growth has been. In July 2020, large institutional transfers totalled around 1.2 billion. By June 2021, that figure had ballooned to 39.6 billion, at which point the whales accounted for over half of all crypto transfer volume in the CNWE region.

The majority of large institutional transactions in Europe went to DeFi, or "decentralised finance" platforms, the report found.

DeFi platforms have been embraced by large investors as they offer ways to stake cryptocurrencies, essentially allowing long-term holders to make money from interest payments by lending their cryptocurrency to DeFi protocols.

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Senators aim to increase oversight of cryptocurrency mining with new bill | TheHill – The Hill

Sens. Maggie HassanMargaret (Maggie) HassanDemocrats see Harris as major player in midterms Hillicon Valley Presented by Ericsson Instagram 'pausing' kid-targeted plan Senators aim to increase oversight of cryptocurrency mining with new bill MORE (D-N.H.) and Joni ErnstJoni Kay ErnstLIVE COVERAGE: Senators press military leaders on Afghanistan Hillicon Valley Presented by Ericsson Instagram 'pausing' kid-targeted plan Senators aim to increase oversight of cryptocurrency mining with new bill MORE (R-Iowa) introduced legislation Monday intended to increase oversight of cryptocurrency mining overseas.

The bill would require the Treasury Department to compile and submit to Congress a report on how nations are using and mining cryptocurrency, along with how much cryptocurrency has been mined since 2016 within both the U.S. and countries including China.

In addition,Treasury would be required to examine the impact of cryptocurrency mining on supply chains for critical resources such as semiconductors, the global shortage of which has caused major disruptions in production for products including automobiles.

In order to strengthen U.S. competitiveness, our government must get a better handle on the role that cryptocurrency is playing in the global economy and how it is being leveraged by other countries, Hassan said in a statement Monday.

Im glad to partner across the aisle with Senator Ernst to help ensure that the Treasury Department stays on top of the use of cryptocurrency, including how it can impact our supply chains, she added.

Concerns around cryptocurrency regulation have increased on Capitol Hill in recent months, with debate over cryptocurrency-related amendments delaying the Senates $1 trillion infrastructure package in August.

Cryptocurrency markets have also come under scrutiny due to escalating ransomware attacks, with cyber criminals often using these markets to facilitate payments from victims.

Recent ransomware attacks have included those on Colonial Pipeline and JBS USA, with both companies choosing to pay the ransom in bitcoin, though the majority of the funds paid by Colonial were recovered by the Justice Department.

As a result, the federal government has taken action, with the Justice Department issuing its first sanctions against a virtual currency exchange last week due to the cryptocurrency exchange SUEX OTC allegedly facilitating ransomware attack payments.

Chinas central bank went one step further last week when it ruled all cryptocurrency transactions illegal due to security concerns and the use of cryptocurrency exchanges in criminal activities.

Hassan earlier this month sent letters to several federal agencies detailing her concerns around the use of cryptocurrency markets to facilitate criminal acts, including for ransomware attack payments.

The anonymity provided by cryptocurrency has helped facilitate its use by criminals in a myriad of ways, Hassan wrote in the letters. These uses include drug sales over the dark web, payments for ransomware attacks, tax evasion, financing for terrorism and organized crime, money laundering, and more.

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