1. Strategic Level: Countries and Institutions' Cryptocurrency Layout
• Trump's digital asset advisor Bo Hines points out that countries are engaged in a 'space race' style of Bitcoin accumulation, viewing Bitcoin as 'digital gold'.
• Eric Trump, Executive Vice President of the Trump Organization, announces that the group's $1 billion project in Dubai, developed in cooperation with Dar Global, will accept cryptocurrency payments, covering hotels, residences, and other facilities, expected to be completed in five years.
• Trump's media and technology group explores launching utility tokens within the Truth Social ecosystem for subscriptions and other services, having previously submitted trademark applications related to digital wallets.
2. Market Expectations: Institutions Optimistic and Changes in Supply and Demand
• Bernstein analysts believe that corporate buybacks and ETF 'supply tightening' will drive Bitcoin prices to new highs, expecting it to reach $200,000 by the end of 2025, $500,000 by the end of 2029, and rise to $1 million by the end of 2033.
• U.S. Secretary of Commerce Howard Lutnick states that the U.S. will fully promote the development of the Bitcoin mining industry domestically.
3. Regulatory Dynamics: Differentiated Global Responses
• The Bank of Italy warns in its Financial Stability Report that the growth of cryptocurrencies threatens investor safety and financial stability, with non-financial companies holding cryptocurrencies facing price volatility risks, and stablecoins also pose potential hazards.
• Australia's anti-money laundering agency AUSTRAC requires inactive cryptocurrency exchanges to voluntarily revoke their registrations, or face mandatory cancellation, and plans to publish a list of registered exchanges to bring them under financial services law regulation.
• The UK has released a draft regulation for crypto assets, incorporating activities of cryptocurrency trading platforms into supervision, defining 'qualified crypto assets', with legislation expected to be completed by 2025.
• Russia's anti-money laundering agency plans to classify illegal cryptocurrency mining as a crime, collaborating with multiple departments to formulate legislation to curb money laundering and illegal fund transfers.
4. Regional Trends: Cryptocurrency Initiatives in Various Locations
• El Salvador's Minister of Economy Maria Luisa Hayem states that despite the IMF agreement requiring the cessation of Bitcoin accumulation, the country will continue to increase its holdings, having added 8 Bitcoins in the past 7 days.
• The UK Treasury plans to collaborate with the U.S. to promote innovation in the cryptocurrency industry, with Chancellor of the Exchequer Rachel Reeves stating that new regulations will be established to enhance investor confidence and promote industry development.
• The ruling People Power Party in South Korea promises to open spot cryptocurrency ETF trading within the year, expand bank access rights, abolish related restrictions, and propose a revitalization plan for crypto assets.
5. Enterprises and Technology: New Moves in Industry Development
• SoFi plans to resume cryptocurrency services by the end of 2025, with a more strategic approach and integration of blockchain technology, potentially launching payment, lending, and other services.
• Circle has received preliminary approval from Abu Dhabi to operate as a money service provider and will expand into the Middle East and Africa markets, having previously submitted an IPO application.
• Beijing releases a development plan for blockchain innovation applications, aiming to achieve more than 10 breakthrough results in core technology fields by 2027, form over 20 outstanding application cases, and establish a national-level blockchain hub.
6. Market Approval: Latest Actions by Regulatory Agencies
• Coinbase executive Sebastian Bea believes that the appreciation of gold may prompt the U.S. Treasury to purchase Bitcoin ahead of schedule, as Bitcoin is transitioning into a value storage tool.
• The U.S. SEC has postponed decisions on the listing applications for the Bitwise Dogecoin ETF and Franklin XRP fund, now due on June 15 and June 17, respectively, stating that more time is needed to assess the proposals.
