整理：Nona
Fear and Greed Index: 53 (Greed)
Bitcoin Price: $115,504
BTC/ETH Spot ETF Fund Flow (8.18)
BTC Net Outflow: $121.81 M
ETH Net Outflow: $196.62 M
Regulation/Macroeconomics
Hong Kong establishes a Digital Asset Anti-Money Laundering Professional Committee, with participation from Round Coin Innovation Technology and others.
According to (Xinbao) reports, the non-profit organization Hong Kong Digital Asset Anti-Money Laundering Professional Committee (DAAMC) was established with the support of the Hong Kong Virtual Asset Industry Association, involving participants like Slow Mist and Round Coin. This organization aims to develop and promote anti-money laundering and counter-terrorism financing (AML/CFT) standards and practices by facilitating collaboration among regulated financial institutions. Round Coin Technology stated that the committee brings together leading institutional expertise to establish global AML/CFT standards. Additionally, the committee will release two technical reports on stablecoin anti-money laundering and hold a seminar at the end of the month.
The US Treasury Department solicits regulatory innovation opinions on stablecoins under the (GENIUS Act).
The US Treasury Department is soliciting innovative methods from financial institutions to detect illegal activities involving digital assets under the (GENIUS Act), including APIs, artificial intelligence, digital identity verification, and blockchain monitoring. The public is required to submit comments by October 17 (within 60 days), which will be used to evaluate the effectiveness, costs, privacy, and cybersecurity of the tools.
The Governor of the Bank of Korea stated that the Korean won stablecoin should be gradually introduced from banks.
Lee Chang-yong, the Governor of the Bank of Korea, stated on the 19th, 'In the future, to incorporate programming functions into currency, the won stablecoin is essential, but a wiser approach would be to introduce it starting from banks and then gradually expand.' On that day, during a meeting with the National Assembly Planning and Finance Committee, Lee addressed lawmakers' questions regarding the timing of stablecoin introduction and issuance entities, individually pointing out the potential risks of stablecoins, showing a cautious attitude.
US Office of the Comptroller of the Currency: Community banks can collaborate with stablecoin companies to promote innovation.
Community banks can collaborate with companies developing stablecoins to promote innovation and offer new products. The OCC will review and update its regulatory and supervisory approaches as necessary to ensure the vitality of community banks while supporting banking innovation.
Project/Company Dynamics
South Korean regulators require the suspension of lending services for the country's centralized exchanges starting today.
The Financial Services Commission of South Korea has ordered local cryptocurrency exchanges to suspend lending services starting August 19, 2025. The Financial Supervisory Commission stated that the suspension will last until official guidelines for cryptocurrency lending are issued. The regulator pointed out that there are legal uncertainties and user loss risks in lending services, noting that in the first month after a digital asset company launched its lending service, about 27,600 investors borrowed 1.5 trillion won (worth $1 billion). The Financial Supervisory Commission reported that 13% of these borrowers were forced to liquidate due to price fluctuations.
WazirX is close to obtaining legal permission, and the court plans to approve its resumption of trading.
According to watcher.guru reports, India’s largest cryptocurrency exchange WazirX is on the brink of resuming trading, currently awaiting court approval after successfully advancing a restructuring plan. The restructuring plan received overwhelming support, with 95.7% of voting creditors casting votes in favor, marking a key step in addressing the aftermath of the hacker attack incident in July 2024. The attack resulted in $235 million being stolen, a significant portion of which flowed to North Korea.
ETH Strategy announced a staking collaboration with Ether.Fi.
ETH Strategy announced a partnership with DeFi staking protocol Ether.Fi to deploy part of the STRAT treasury funds to Ether.Fi for Ethereum re-staking. Ether.Fi currently has a Total Value Locked (TVL) of over $12 billion and launched the first liquidity re-staking token eETH based on EigenLayer. This collaboration aims to achieve verifiable treasury returns through on-chain transparent holdings and receipt certificates, with plans to integrate more DeFi protocols for diversified revenue sources.
In-depth & Prospective
Understanding the SEC, from 'Project Crypto' to 'Peanut Butter and Watermelon.'
First, polish compliance and technology stacks in surrounding markets that can seamlessly migrate to the US, and then choose the right moment to enter, completely integrating Web 3 and Web 2 finance in the US, where 'narrative and system are in sync.' This is the correct way to traverse cycles and share the digitalization dividend of dollar assets.
Strategy's 'Moon Landing' plan
Today, we delve into the financial report of Strategy Company (formerly MicroStrategy) for Q2 2025, marking the first quarter the company achieved net positive earnings after adopting fair value accounting for Bitcoin, creating one of the largest quarterly profits in the company's history.
Views
Bitcoin plummeted nearly $10,000 after reaching a new high; what happened in the market?
Since the beginning of this year, the key factor determining the market direction has been the US monetary policy. This year, expectations of regulation have been well reflected in the cryptocurrency market. When interest rate cut expectations rise, the market goes up; when expectations decline, the market falls. In this context, whether to cut rates, by how much, and how to cut them have become the most concerning issues for market observers.
Viewpoint: This bull market stems from capital overflow in the AI sector, and the momentum will likely continue.
The Federal Reserve continues to maintain a tight policy, fiscal stimulus is gradually weakening, yet risk assets continue to rise. Why is this? Because capital gains driven by artificial intelligence (AI) and capital expenditures (Capex) in the upper economy are being transmitted layer by layer, while Crypto Treasury Companies (TCos) have designed a new transmission mechanism to convert stock market fervor into on-chain bidding.
