1. After Powell's speech, the probability of a 25 basis point rate cut by the Federal Reserve in September rose to 91.1%, while the probability of maintaining the interest rate unchanged is 8.9%.
2. Federal Reserve Chair Jerome Powell stated that the price effects of tariffs are temporary and part of a reasonable baseline scenario, and the stable unemployment rate allows the Federal Reserve to be more cautious in adjusting its policy stance. He emphasized that one-time price increases must not evolve into a persistent inflation problem and introduced a new framework to adapt to various economic conditions. At the same time, Powell pointed out that the labor market faces downside risks.
3. The Commodity Futures Trading Commission (CFTC) has announced that CFTC Acting Chair Caroline D. Pham has launched a new round of cryptocurrency regulatory sprint initiatives to implement recommendations from the Presidential Working Group on Digital Assets. The initiative will commence communication with stakeholders starting today.
4. The U.S. House of Representatives has included anti-central bank digital currency (CBDC) regulatory provisions in the must-pass defense bill. Earlier this summer, the House passed the bill with a vote of 219 to 210, which aims to prohibit the Federal Reserve from issuing central bank digital currency directly to individuals.
5. According to the Financial Times, following the U.S. passage of the stablecoin bill, EU officials are accelerating the research and development of the digital euro. Insiders say that after the U.S. Congress passed legislation to regulate the $288 billion stablecoin market, the EU has begun to reconsider the development path of the digital euro. The European Central Bank is considering deploying the digital euro on public blockchains such as Ethereum or Solana, rather than the previously anticipated private chains.
6. Industry insiders: Some Hong Kong institutions with Chinese capital have received notices from their domestic headquarters, requesting to explore business opportunities for RWA projects.
7. Security Reminder: Update to iOS 18.6.2 as soon as possible, or risk being attacked through malicious images. This is a buffer overflow vulnerability present in Apple's ImageIO framework. Attackers can cause memory corruption by processing malicious image files, potentially executing remote code. Apple has addressed this issue by improving boundary checks. The vulnerability has been reported to be exploited in highly sophisticated attacks targeting specific objectives.
