币世界中本聪 Satoshi Nakamoto

On Monday, the US stock index opened, with the Nasdaq index increasing by 0.23% during the session, the S&P 500 index up by 0.04%, and gold down by 0.68% to $3310 per ounce. On Thursday, during the Federal Reserve's interest rate meeting, when asked whether the Fed should cut interest rates this week, Trump stated: "It must be done".
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The US Senate Banking Committee has launched a draft discussion on the CLARITY Act (market structure bill), proposing the concept of subsidiary assets to clarify the meaning of digital assets and seeking to define the SEC's regulatory approach to digital assets, inviting public comments before early August. Last week, the House of Representatives voted to pass the bill, awaiting Senate approval and submission for Trump's signature. A Gallup survey showed that 60% of Americans have no plans to invest in cryptocurrencies; about 14% of American adults own cryptocurrencies, with a slight increase in digital asset holdings since 2021, but most Americans still view them as risk assets. The UK-listed company Coinsilium Group's subsidiary Forza increased its holdings by 12.4230 BTC, holding a total of 124.4239 BTC; the European listed company Capital B increased its holdings by 58 BTC, holding a total of 2013 BTC. Bloomberg reported that Trump Media & Technology Group (TMTG) has invested $300 million in BTC-related securities-linked options strategies, with unclear details. Validatorqueue data shows that about 660,000 ETH are waiting to exit ETH PoS, with a waiting time of about 11 days and 11 hours; about 263,000 ETH are queued to enter, with an expected wait of 4 days and 14 hours. Matrixport stated that current market sentiment is gradually turning optimistic, with a dense release of US stock earnings reports this week, a postponed White House digital asset report, and key events like the Fed's interest rate decision potentially becoming new catalysts for market volatility. From historical data, BTC's performance in August and September is relatively weak; although the bullish expectation for the year remains, seasonal disturbances may lead to a short-term consolidation period in the market.

On Wednesday, U.S. stock indices opened, with the Nasdaq index up 0.28%, the S&P 500 index up 0.53%, and the Dow Jones index up 0.92%. Among them, the S&P 500 index reached a new high. Goldman Sachs expects: the Federal Reserve will maintain interest rates next week and begin to cut rates in the remaining three meetings, with two more rate cuts expected in early 2026.
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Crypto journalist Eleanor Terrett: The Trump Digital Assets Task Force is preparing its first major report on cryptocurrency policy, which is the result of months of collaboration between task force leaders David Sacks, Bo Hines, and senior officials from the U.S. Treasury, U.S. Department of Commerce, SEC, and CFTC, aimed at implementing Trump's executive order signed in January to strengthen U.S. leadership in the cryptocurrency sector. The report is expected to include regulatory and legislative recommendations, though specifics are not yet clear. One of the world's largest market makers, Citadel Securities, urged the SEC to implement equal regulation for tokenized stocks and traditional stocks, stating that the SEC should not grant exemptions from securities rules, and recommended advancing rule-making through roundtable discussions, with the committee needing to establish a prudent and transparent evaluation process, including a public consultation phase and a complete cost-benefit analysis, focusing on market liquidity and investor protection. The ETH validator withdrawal queue reached the longest waiting time in over a year on Tuesday, with about 519,000 ETH queued to exit the network, with delays extending to over 9 days. 357,000 ETH are waiting to enter the network, with the admission queue already extending beyond 6 days.

On Monday, US stocks opened, with the Nasdaq index rising 0.7% intraday and the S&P 500 index rising 0.5%, both reaching new highs; gold rose 1.4%, and the dollar index fell 0.7% to 97.7 points. Trump called for a rate cut: rates should be lowered to 1%, and in many ways, the Federal Reserve Board should bear equal responsibility. Federal Reserve Governor Waller stated: if the Federal Reserve waits another six weeks to cut rates, it may not be a problem, but there is no reason to continue delaying.
Trump formally signed the (GENIUS Act) (Guiding and Establishing the US Stablecoin National Innovation Act), also known as the (Genius Act), meaning that federal legislation regarding cryptocurrency regulation has officially taken effect for the first time in history. The act sets stricter requirements for stablecoin regulatory standards: issuers must have 1:1 reserve support with liquid assets like dollars and short-term Treasury bonds, and must publicly disclose reserve composition monthly. According to the Hong Kong Economic Daily, on the eve of the implementation of Hong Kong's (Stablecoin Regulation) on August 1, dozens of companies have expressed their intention to apply for or participate in stablecoin business. Hong Kong Financial Development Bureau director Hong Pizheng stated: stablecoins should not become objects of speculation; the digitalization of asset markets is a long-term strategy, and stablecoins should play a stabilizing role without a short-sighted perspective. He believes that Hong Kong's current development pace is leading among other financial centers. BlackRock has submitted an application to the US Securities and Exchange Commission (SEC) to add a staking feature to its ETH spot ETF, reigniting discussions around the SEC's batch approval process. Previously, Franklin Templeton, Grayscale, 21Shares, and Fidelity had submitted similar requests, and analysts expect the SEC to issue a unified ruling as early as the fourth quarter of this year.

On Friday, U.S. stock indices opened, with the Nasdaq index down 0.11% at one point, and the S&P 500 index down 0.14%; the dollar index fell 0.25% to 98.3 points. The three crypto-related bills passed by the U.S. House set a clear regulatory tone for the U.S. digital asset industry, creating the most comprehensive regulatory framework in U.S. cryptocurrency history, boosting market sentiment.
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Paul Atkins, head of the U.S. Securities and Exchange Commission (SEC), stated that after the U.S. House of Representatives passed a landmark stablecoin bill, the SEC is considering whether to introduce an 'innovation exemption' under the existing regulatory framework to incentivize the market to advance the tokenization process. Circle stated that the U.S. House voted to approve the (GENIUS Act) for presidential signature, which is crucial for the future of the monetary and internet financial system, demonstrating support for responsible innovation and clearly indicating that the U.S. will play a role in the regulation of stablecoins, prioritizing consumer protection, financial integrity, and competitiveness. Wall Street's well-known short seller Jim Chanos sounded the alarm about the heated phenomenon of corporate BTC treasuries: Chanos compared it to the frenzied SPAC (Special Purpose Acquisition Company) wave in 2021, when $90 billion was raised in just three months, only to end in a catastrophic crash. This time, the BTC corporate treasury plan is strikingly similar to the craziness of 2021's SPACs. Chanos stated that there are significant announcements almost every day, with hundreds of millions of dollars being involved each evening.

U.S. inflation data shows: June CPI annual rate at 2.7%, matching the expected value of 2.70%, up from the previous value of 2.40%. June core CPI annual rate at 2.9%, lower than the expected value of 3.00%, but higher than the previous value of 2.80%. June PPI annual rate at 2.3%, lower than the expected value of 2.5%, with the previous value revised from 2.60% to 2.7%. CPI inflation slightly increased; PPI unexpectedly fell short of expectations, with June PPI annual rate recorded at 2.3%, the lowest since September 2024. Goldman Sachs stated that underlying inflation remains relatively mild, and the Federal Reserve is still in a wait-and-see mode. If underlying inflation continues to remain mild, the possibility of restarting the rate cut cycle in the fall still exists.

On Monday, the US stock market opened, with the Nasdaq index down 0.14% during the session and the S&P 500 index down 0.2%. On Tuesday, the US will release CPI inflation data, with a previous value of 2.4% and an expected value of 2.7%; Core CPI had a previous value of 2.8% and an expected value of 3.0%. Due to the impact of Trump's tariffs, inflation expectations are expected to rise.
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White House senior asset policy advisor Bo Hine stated: An important week has arrived; from July 14 to July 20 will be the House's "crypto week," with the GENIUS bill being sent to Trump's desk and the CLARITY bill sent to the Senate. "Crypto week" will solidify the role of the cryptocurrency capital. Bank of England Governor Andrew Bailey warned banks not to issue stablecoins and stated that the Bank of England should focus on deposit tokenization, as stablecoins pose systemic risks to banking institutions and could undermine the stability of the financial system. Additionally, multiple member countries in Europe expressed concerns about the US pushing for US dollar stablecoin plans, fearing it could threaten the euro's position. The Hong Kong government (stablecoin regulations) will officially implement on August 1, with 50 to 60 companies already intending to apply for a Hong Kong stablecoin license, half of which are payment institutions and the other half are well-known internet companies. Hong Kong Secretary for Financial Services and the Treasury Christopher Hui stated that the first phase will issue only a small number of stablecoin licenses, and the Hong Kong government will take the lead in promoting the application of stablecoins, with plans to promote the tokenization of financial assets in the future. After SpaceX prepares to invest $2 billion in xAl, Musk stated that Tesla plans to hold a shareholder vote on whether to invest in xAl.

On Friday, U.S. stock indexes opened, with the Nasdaq index slightly rising by 0.05%, the S&P 500 index declining by 0.25%, and gold increasing by 0.83%. The Federal Reserve's meeting minutes indicated that most participants believe interest rates should be lowered this year if appropriate; a minority believe there should be no rate cuts this year; a few expressed willingness to lower rates at the July meeting. The market interpretation suggests that the watchful waiting period may end by the end of summer.
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Reporter Eleanor Terrett reports: The U.S. Senate Banking Committee plans to postpone the discussion of the draft (cryptocurrency market structure bill) until next week, while the House has rescheduled a hearing on establishing the (21st-century cryptocurrency tax policy framework) to next Wednesday, coinciding with 'Cryptocurrency Week'. The U.S. Securities and Exchange Commission (SEC) issued a statement on the tokenization of securities: Tokenization has the potential to facilitate capital formation and enhance investors' ability to use their assets as collateral. However, despite the enormous potential of blockchain technology, it does not possess 'magic' to change the nature of the underlying assets. Tokenized securities remain securities. Therefore, market participants must carefully consider and comply with relevant provisions of federal securities laws when trading such instruments. Bloomberg reports: The U.S. Treasury has officially rescinded the reporting rule for cryptocurrency brokers, which required DeFi brokers to submit Form 1099, similar to traditional securities brokers, to report and provide user data. Critics argue that this rule stifled innovation. The UK crypto-friendly bank Ziglu is facing financial collapse, and the UK's Financial Conduct Authority (FCA) has taken action to protect consumers by implementing restrictions on specific products from Ziglu.

On Wednesday evening, US stock indices opened, with the Nasdaq index rising 0.6% during the session, the S&P 500 index increasing by 0.26%, gold up by 0.3%, and Nvidia rising 2.33% during the session, becoming the first company with a market value of $4 trillion. Trump will impose a 25% tariff on Japan and South Korea. Trump stated that Powell has been complaining like a baby about non-existent inflation for months, refusing to do the right thing, and now it is time to cut interest rates!
Cointelegraph reports that several crypto companies are urging US House members to quickly pass the (Digital Asset Market Clarity Act) (CLARITY Act) during next week's meeting to clarify the regulatory framework for the crypto industry. The CLARITY Act clarifies the division of responsibilities between the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in cryptocurrency regulation. The act grants most regulatory authority over the crypto market to the CFTC, while crypto products related to securities are regulated by the SEC. Cryptoinamerica reported that the US Senate Banking Committee will hold a hearing this Wednesday to establish a $3 trillion regulatory framework for the digital asset industry and is expected to release a discussion draft for market structure reform later this week. The US Department of Justice announced that the international fraud project OmegaPro has been prosecuted for carrying out a global fraud scheme amounting to $650 million. Cryptoslate reported that the four major USD stablecoin issuers collectively hold approximately $182.4 billion in US Treasury bonds, ranking 17th among holders, surpassing South Korea and the UAE, and trailing only Norway. The South Korean Ministry of SMEs and Startups announced plans to amend the current (Special Act on Promoting Risk Enterprises) to allow virtual asset service providers to register as 'risk enterprises,' thus qualifying them for relevant government support policies.

On Monday, U.S. stock indexes opened lower, with the Nasdaq index down 0.5%, the S&P 500 index down 0.3%, and gold down 0.6%. The Federal Reserve's June meeting minutes, set to be released on Wednesday, are not expected to change the market's expectations of maintaining interest rates at the July meeting.
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Reporter Eleanor Terrett stated that due to the House of Representatives being in recess this week, the hearing scheduled for this week regarding 'Making America the Global Cryptocurrency Capital' will be postponed, with a specific date to be determined. This hearing was originally planned to focus on building a 21st-century tax policy framework for digital assets. The Hong Kong (stablecoin regulation) will take effect in August, and Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated: The Monetary Authority is currently consulting the market on implementing regulatory guidelines, which will be published within this month. The specific content will involve anti-money laundering and other related requirements, and the number of stablecoin licenses granted will be in single digits, hoping to receive applications once the regulations take effect, with a goal to issue licenses within this year. The White House's cryptocurrency and AI director, David Sacks, stated: The week of July 14 will be House Cryptocurrency Week; the (GENIUS Act) (Stablecoin Act) will soon be sent to Trump, and the (CLARITY Act) (U.S. Digital Asset Market Clarity Act) will also soon be sent to the Senate. DLnews reported that the total financing of the cryptocurrency market in the first half of 2025 is about 10.3 billion USD, surpassing the total of 9.6 billion USD for the entire year of 2024.

On Monday, U.S. stock indices opened, with the Nasdaq index up 0.2%, the S&P 500 index up 0.18%, gold up 0.6%, and Brent crude down 0.48%. Previously, Goolsbee further downplayed the impact of tariffs on inflation, reinforcing expectations for a dovish Fed. U.S. Treasury Secretary Basant: Although Powell's term will last until May next year, a successor may be nominated as early as October this year. Goldman Sachs has moved the expected rate cut by the Fed from December to September, and Trump is calling for interest rates to be lowered to 1% or 2%.
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The U.S. Senate will begin voting on the so-called 'Beautiful Bill' at 9 a.m. local time on June 30, with the final results expected to be revealed on the evening of the 30th or the morning of the next day. The Congressional Budget Office has stated that the Senate version of the 'Beautiful Bill' will increase the U.S. debt by $3.3 trillion over the next decade. Musk criticized the Senate's passage of the 'Beautiful Bill': it will destroy millions of jobs in the U.S. and cause significant strategic damage to the country, providing handouts to past industries while severely harming future industries. The Hong Kong Financial Services and the Treasury Bureau is conducting a joint consultation with the Hong Kong Securities and Futures Commission to introduce a regulatory framework for virtual asset trading service providers and custodians. The proposed system will empower the Hong Kong Securities and Futures Commission to license and supervise virtual asset trading service providers and custodians, and enforce related regulations. The Hong Kong Securities and Futures Commission will also be responsible for developing compliance standards for these two important service providers, ensuring robust investor protection measures and maintaining market integrity, thereby creating a vibrant yet safe and sound digital asset market.

On Tuesday and Wednesday, Powell faced off against Congress, while Trump expressed hope that Congress would firmly address Powell and argued that interest rates should be 'at least two to three percentage points lower.' Previously, Powell had repeatedly ignored Trump's ongoing calls to lower interest rates. Federal Reserve head Powell stated that current interest rates are relatively high, with greater room for cuts compared to when rates were near zero, suggesting that everyone should wait for more signs; if inflation is not expected to rise or if the labor market is weak, there is no need to wait for further observations; the final tariff levels will determine their impact.

On Monday, U.S. stock indices opened, with the Nasdaq index up 0.7% during the trading session, and the S&P 500 index up 0.6%; gold rose by 0.3%, and Brent crude oil fell by 4.6%; Trump continued to criticize Fed Chairman Powell: 'If Powell can lower rates by one or two percentage points, this 'blockhead' could save the U.S. up to $1 trillion in expenses each year. I really don't understand why the Federal Reserve Board hasn't replaced this complete idiot!' Fed Vice Chair Bowman stated that if inflation remains controlled, he would support a rate cut as early as the July meeting.
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On Monday, U.S. stock indices opened, with the Nasdaq index rising by 1.6% during the session, and the S&P 500 index rising by 1.06%. Gold fell by 1%, Brent crude fell by 2%, and the U.S. dollar index fell by 0.17%. This Thursday at 02:00, the Federal Reserve's FOMC will announce its interest rate decision and economic outlook summary. Recently released CPI and PPI data were weaker than expected, prompting the market to anticipate the timing of the next rate cut.
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The Financial Secretary of the Hong Kong government, Paul Chan, stated that as the digital asset market thrives, the demand for stablecoins is expected to further increase. Stablecoins can leverage their programmable features to develop diversified innovative solutions, automating and optimizing financial service processes. It is noted that many market participants are very interested in this, and after the (Stablecoin Regulations) take effect, the Hong Kong Monetary Authority will promptly handle the received license applications so that qualified applicants can conduct their business. The Financial Secretary of the Hong Kong government, Paul Chan, stated in (Speeding Up Progress to Set Sail Steadily) that the development of digital assets has boosted related business in financial institutions, with the total trading volume of digital assets and related products by local banks in Hong Kong reaching HKD 17.2 billion last year, and the total amount of digital assets under bank custody reaching HKD 5.1 billion by the end of last year. The (Stablecoin Regulations) have been passed by the Legislative Council and will come into effect on August 1, with the Hong Kong government cautiously promoting the development of stablecoins, providing a new paradigm for the global stablecoin market, which is beneficial for attracting more institutions from different parts of the world to issue stablecoins in Hong Kong based on actual application scenarios, significantly increasing the liquidity of related activities and the competitiveness of the Hong Kong market. VanEck's Head of Digital Assets, Matthew Sigel, stated that small-cap listed companies claiming to establish large-scale crypto reserves can be seen as scams, likely just to inflate the stock prices of small companies, many of which are traded on Nasdaq.

The U.S. May PPI month-on-month recorded 0.1%, lower than the expected 0.20%; the May PPI year-on-year recorded 2.6%, matching the expected value of 2.6%. The May core PPI month-on-month recorded 0.1%, lower than the expected 0.30%; the May core PPI year-on-year recorded 3%, lower than the expected 3.1%. Trump said: 'Powell is a fool, suggesting the Federal Reserve cut rates by 200 basis points. I will not fire Federal Reserve chief Powell; he just needs to lower the rates. The inflation data is performing well, and the U.S. has a large amount of short-term debt. If rates are lowered, it means less interest to pay.'
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US May CPI data fell short of expectations across the board. Data released on Wednesday showed: May CPI annual rate at 2.4%, below the expected value of 2.50%, higher than the previous value of 2.30%; Core CPI annual rate at 2.8%, below the expected value of 2.90%, unchanged from the previous value of 2.80%. After the data was released, the market increased bets on rate cuts beginning in September, generally expecting two rate cuts this year. Trump stated: The Federal Reserve should cut rates by 100 basis points, which would significantly reduce the interest on maturing debt, it's too important.
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Reporter Eleanor Terrett stated: The US CLARITY Act (Digital Asset Market Clarity Act) has passed the Financial Services Committee with 32 votes in favor and 19 votes against. The bill will next be submitted to the House of Representatives for a full vote. The US Federal Appeals Court suspended a ruling that blocked Trump's tariff powers, meaning that Trump's tariff measures may still remain in effect during the appeal process. The appellate court approved an expedited review of Trump's tariff powers, with a hearing scheduled for July 31. The US Securities and Exchange Commission (SEC) announced the initiation of procedures to review the Bitwise BTC and ETH mixed ETF listing application submitted by the NYSE. On June 11, Musk tweeted: "I regret some of the posts about Trump made last week, as they were excessive." Yesterday, Trump stated: "I haven't thought about talking to Musk, I guess Musk might want to talk to me now." The UK Insolvency Service has appointed its first dedicated cryptocurrency expert to help recover more funds for the UK economy through bankruptcy cases. Société Générale–Forge, a crypto subsidiary of Société Générale, announced the launch of a dollar-pegged stablecoin on the ETH and Solana blockchains.

Trump stated: The appointment results for the next Federal Reserve head will be announced soon, and he has a fairly clear understanding of the candidate. A good Federal Reserve head will cut interest rates. Citigroup expects the Federal Reserve to cut interest rates by 75 basis points this year, with cuts of 25 basis points in September, October, and December; and 50 basis points in January and March 2026.
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Reporter Eleanor Terrett stated that an alternative amendment to the U.S. digital asset market clarity bill (CLARITY Act) has been released. This alternative amendment is an updated version of the submitted bill, containing recent amendments and new content. This text will serve as the basis for the Republican members of the House Financial Services Committee in the U.S. House of Representatives (for review and revision) this Tuesday. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated: The underlying asset of stablecoins is fiat currency, which can later be used for payment functions in electronic asset form through technologies such as blockchain. Stablecoin issuers are regulated by the Hong Kong Monetary Authority, and the principles of regulation are similar to those of traditional financial assets. Relevant issuers must comply with regulations regarding reserve asset management and redemption, and when stablecoin holders request redemption, it must be completed within one business day to meet user demands. U.S. Republican Congressman Tim Burchett proposed HR 3798, aimed at establishing a national strategic BTC reserve in the U.S. and writing it into federal law. The U.K. Financial Conduct Authority (FCA) stated that it will lift the ban on cryptocurrency exchange-traded notes (ETNs) to support growth and competitiveness in the U.K. European BTC reserve company The Blockchain Group stated that it has signed a €300 million capital increase agreement with asset management firm TOBAM, aiming to accelerate its BTC reserve company strategy.

Data released on Friday shows: the US unemployment rate in May is 4.2%, matching the expected value of 4.20%, unchanged from the previous value of 4.20%. The non-farm payrolls for May are 139,000, higher than the expected value of 130,000, and the previous value was revised from 177,000 to 147,000. The market expects the Fed to cut rates twice this year in September and December. Trump stated: 'Mr. Too Late' Powell of the Fed is a disaster! Europe has cut rates 10 times, while the US has not done it once.
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Reporter Eleanor Terrett stated: A DeFi roundtable hosted by the SEC will be held next Monday, and on Tuesday, the House will hold a nomination hearing on the cryptocurrency market structure bill (CLARITY Act). The US Senate confirmed that Fed Governor Michelle Bowman has been promoted to deputy supervisor of regulation, giving her a voice in both banking access for cryptocurrencies and stablecoin issuance. The banking sector has long been a pain point for the cryptocurrency industry; previously, the Fed and the other two major banking regulatory agencies took a highly cautious approach to the cryptocurrency field but lifted previous restrictions on banks providing services to the cryptocurrency industry in April this year. El Salvador President Nayib Bukele held talks with White House digital asset policy advisor Bo Hines, discussing cooperation between the US and El Salvador in the fields of BTC and digital assets. Uber CEO Dara Khosrowshahi stated: They are considering using stablecoins to reduce operating costs and believe that the development of stablecoins is very promising, especially for global companies. On June 6th, the cryptocurrency fear and greed index was 45 (down from 57 yesterday), indicating that market sentiment has dropped into the fear zone.

On Monday, U.S. stock indices opened, with the Nasdaq rising 0.11% during the session, the S&P 500 decreasing 0.1%, and the Dow Jones falling 0.35%. Gold increased by 2.6% to $3,376 per ounce. Federal Reserve Governor Waller stated that the prospects for interest rate cuts depend on the slowing of inflation and whether tariff measures remain in the lower range, and the “good news” is that rate cuts may still be possible later this year.
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On May 29, 2025, the U.S. Securities and Exchange Commission (SEC) Division of Corporate Finance issued a statement clarifying that three types of staking activities on proof-of-stake (PoS) networks do not constitute securities offerings and sales under the Securities Act of 1933 and the Securities Exchange Act of 1934. The three types of staking forms covered include staking of node operators' own assets, self-custodied staking, and staking by custodial institutions on behalf of clients. New York City Comptroller Brad Lander dismissed Mayor Eric Adams' proposal to issue BTC-backed municipal bonds. Brad Lander, along with the Mayor's Office of Management and Budget, is responsible for bond issuance, stating that New York City will not issue BTC-backed bonds during his tenure, as the stability of cryptocurrencies is insufficient to fund the city's infrastructure, affordable housing, or schools. At the ETHGlobal Prague conference, ETH founder Vitalik stated that ETH plans to increase its L1 scale by approximately tenfold within a year, then take a “breather” before the next leap. Japanese listed company Metaplanet CEO Simon Gerovich stated that he acquired 1,088 BTC for about $117.3 million, bringing his total holdings to 8,888 BTC. El Salvador recently increased its holdings by 8 BTC over the past week, bringing its total to 6,194.18 BTC.

Data released on Friday showed: The U.S. April PCE price index was 2.1%, lower than the previous value of 2.3% and the expected value of 2.2%; the April core PCE price index was 2.5%, lower than the previous value of 2.7% but in line with the expected value of 2.5%, reaching a new low since March 2021. Fed's Daly stated that if the labor market remains strong and inflation declines, it would be reasonable to have two rate cuts this year. Fed's Goolsbee stated that if tariffs could be avoided through agreements or other means, it might return to a situation where rate cuts could be possible.
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The Republican Party in the U.S. House of Representatives proposed a crypto market structure bill, namely the (Digital Asset Market Clarity Act), which gives the U.S. Commodity Futures Trading Commission (CFTC) primary regulatory authority over the digital commodity spot market, while requiring crypto platforms to choose registration with the CFTC or the U.S. Securities and Exchange Commission (SEC) based on the type of trading assets. The bill excludes certain DeFi projects and wallet providers from SEC regulation; prohibits custodial institutions from listing client assets on their own balance sheets; and clarifies that payment stablecoins do not fall under the category of securities. The Hong Kong government published the (Stablecoin Regulation) in the official gazette, meaning that the (Stablecoin Regulation) officially becomes law, further improving the regulatory framework for digital asset activities in Hong Kong. The Hong Kong Legislative Council officially passed the ordinance draft on May 21 to establish a licensing system for fiat-backed stablecoin issuers in Hong Kong. New York City Mayor Eric Adams called for the abolition of the BitLicense crypto licensing system issued by the New York State Department of Financial Services (NYDFS) at the Bitcoin 2025 conference and proposed the idea of issuing BTC municipal bonds called 'BitBond'. Australia's Monochrome spot BTC ETF has reached a position of 666 BTC, valued at 111.5 million Australian dollars.

Trump has changed his mind again, restoring the 90-day tariff window with the EU and has agreed to extend the deadline to July 9. Last week, Trump announced plans to impose a 50% tariff on the EU starting June 1. On Monday, the U.S. stock indexes were closed, with the Nasdaq futures rising by 1.5% and the S&P 500 index rising by 1.2%, while the dollar index fell by 0.1%.
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Hester Peirce, head of the SEC's cryptocurrency working group, stated that she supports issuing further guidelines to determine which activities fall outside of the jurisdiction of securities laws, such as clearly involving direct participation in PoS and DPoS systems, as well as providing technical services that assist people in participating in these consensus mechanisms. The SEC's past regulatory approach has failed to effectively prevent fraud, instead causing confusion among compliant operators. This statement is seen as positive news for institutional participation in staking in the U.S. Musk stated that he has returned to a 7×24 work schedule, highly focused on X/xAI and Tesla, as key technologies are being launched. U.S. Treasury Secretary Basant: The sovereign wealth fund plan has been paused until all other matters are resolved. Data from asset management company Bitwise shows that in 2025, U.S. and other companies' BTC purchases have exceeded three times the new supply of BTC, with companies accumulating a total of 205,507 BTC this year, while the new supply of BTC is 64,556 BTC, only including the increases disclosed by listed companies. Fundraising Digest data shows that there were 7 large financing deals last week, with the largest financing amount being $135 million for Worldcoin. U.S. listed company Semler Scientific increased its holdings by 455 BTC from May 13 to May 22, bringing total holdings to 4,264 BTC.