#美国众议院市场结构讨论草案 The U.S. House of Representatives Market Structure Discussion Draft typically refers to the discussion draft of the "2025 Digital Asset Market Structure Act" published jointly by the U.S. House Committee on Financial Services and the Agriculture Committee.
This draft is led by Representatives French Hill, G.T. Thompson, Bryan Steil, and Dusty Johnson, aiming to establish a clear and sustainable regulatory framework for cryptocurrencies, emphasizing consumer protection, innovation promotion, filling regulatory gaps, and solidifying the U.S.'s global leadership in the digital asset space.
The draft proposes to establish a unified regulatory framework, clarifying definitions for digital goods, stablecoins, self-custody rights, and decentralized finance, granting the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) distinct regulatory authorities, and setting up registration mechanisms for exchanges, brokers, custodians, and more.
Currently, the draft is in the public comment phase, and the two committees were originally scheduled to hold a joint hearing on May 6 regarding the draft, but due to opposition from the House Financial Services Committee's top Democratic member Maxine Waters, the meeting may be canceled.
#Impact of Trump's First 100 Days on the Cryptocurrency Market and Economy
#特朗普就职百日 Trump's governing style and policy inclinations typically impact the cryptocurrency market across multiple dimensions including regulation, macroeconomics, and market sentiment. If he assumes office again, his '100-day new policy' may have the following potential impacts on the crypto economy:
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### **1. Regulatory Environment: Loosening vs. Strengthening** - **Traditional Republican Stance**: Republicans tend to favor less government intervention in markets; if Trump continues this stance, it may promote **looser regulation** for cryptocurrencies. For example: - **SEC's Position Softening**: The current SEC Chairman Gary Gensler's tough regulation of cryptocurrencies (such as classifying most tokens as securities) may be adjusted; newly appointed officials may take a more flexible stance.
#特朗普税改 #MichaelSaylor暗示增持BTC Impact on the Cryptocurrency Market • From an investment perspective: If federal income taxes are significantly reduced or even eliminated, disposable income for investors will increase, potentially leading to some funds flowing into the cryptocurrency market, as crypto assets have high-risk, high-return characteristics, making them attractive to investors seeking high yields. Additionally, tax reductions lower transaction costs for investors, encouraging more trading activity and increasing liquidity and vibrancy in the cryptocurrency market. • From the perspective of market confidence: If this proposal is implemented, it may be viewed by the market as a significant policy change, prompting a reassessment of the economic outlook. If investors hold an optimistic view of the policy, it will enhance confidence in the entire financial market, including the cryptocurrency market, driving up the prices of crypto assets. However, if the market is concerned that the tax system will lead to trade frictions and other negative effects, it may also result in investors being cautious and reducing their investments in the cryptocurrency market. Impact on the Broader Economy • Positive aspects: Reducing or eliminating federal income tax can increase disposable income for businesses and individuals, incentivizing companies to expand investments, create more jobs, promote personal consumption, and drive economic growth. Historically, the Tax Cuts and Jobs Act signed by Trump in 2017 had a certain stimulating effect on the economy, leading to an increase in foreign direct investment in the U.S. at that time. Additionally, replacing income tax with tariffs can, to some extent, protect domestic industries and reduce trade deficits. • Negative aspects: The new tariff system is likely to provoke retaliatory tariffs from trade partners. For example, in 2025, the EU announced countermeasures against U.S. products, which could lead to a reduction in trade volume, affecting U.S. export companies, and potentially slowing down global economic growth. Furthermore, increased tariffs will raise the prices of imported goods, triggering imported inflation, causing consumers to bear higher prices, reducing real purchasing power, and consequently weakening the role of consumption in driving economic growth. Overall, the impact of this proposal on the cryptocurrency market and the broader economy is quite complex, with uncertainties present, making it difficult to simply view it as bullish or bearish. A comprehensive consideration of various factors such as the specific implementation details of the policy, market reactions, and dynamic changes in the global economy is necessary.
#TrumpTaxReform #BTC Impact on the Crypto Market • From an investment perspective: If federal income taxes are significantly reduced or even eliminated, disposable income for investors will increase, which may lead to some funds flowing into the crypto market, as crypto assets have high risk and high return characteristics, making them attractive to investors seeking high yields. Moreover, reduced taxes lower transaction costs for investors, encouraging more trading activities and increasing liquidity and activity in the crypto market. • From the perspective of market confidence: If this proposal is implemented, it may be seen by the market as a significant policy change, prompting a reassessment of the economic outlook. If investors are optimistic about the policy, it will enhance confidence in the entire financial market, including the crypto market, driving up the prices of crypto assets. However, if the market is concerned that the tariff system will lead to negative effects such as trade friction, it may also cause investors to be cautious and reduce their investment in the crypto market. Impact on the broader economy • Positive aspects: Reducing or eliminating federal income taxes can increase disposable income for businesses and individuals, incentivizing companies to expand investment, create jobs, boost personal consumption, and promote economic growth. Historically, the Tax Cuts and Jobs Act signed by Trump in 2017 had a stimulating effect on the economy, promoting an increase in foreign direct investment in the U.S. At the same time, replacing income taxes with tariffs can, to some extent, protect domestic industries and reduce trade deficits. • Negative aspects: The new tariff system is likely to provoke retaliatory tariffs from trading partners; for example, in 2025, the EU announced counter-tariffs on U.S. products, which could lead to a shrinkage in trade volume, impact U.S. export companies, and potentially slow global economic growth. Additionally, increased tariffs will raise the prices of imported goods, leading to imported inflation, causing consumers to bear higher prices, reducing real purchasing power, and thereby weakening the role of consumption in driving the economy. Overall, the impact of this proposal on the crypto market and the broader economy is complex, with uncertainties, making it difficult to simply take a bullish or bearish perspective. A comprehensive consideration of the specific implementation details of the policy, market reactions, and the dynamic changes in the global economy is required.
Look at the moving averages in this chart. MA5 is 84,064.6, MA10 is 81,586.0, and MA20 is 82,751.2. First, look at MA5 and MA10; MA5 is currently higher than MA10, indicating that MA5 has crossed above MA10, which is a sign of a golden cross. Next, look at MA5 and MA20; MA5 is also above MA20, but we need to confirm whether this is a recently formed golden cross. From the chart, the price previously rose, and the moving averages began to diverge upwards. MA5 crossed above MA10 and MA20; currently, MA5 is at the top, MA10 is in the middle, and MA20 is at the bottom, forming a bullish arrangement, indicating a bullish trend after a golden cross.
Now, look at the current price of 84,845.9; there was a previous high, and now the price is rising. But pay attention to whether there are resistance levels above, such as near 88,500 on the chart, which may be a resistance. Next, look at the trading volume; the trading volume on the chart does not seem to have any significant changes, but the price is above the moving averages, indicating support. However, we also need to consider the overall market situation. After the golden cross forms, theoretically, the short-term trend is upward, but if the price cannot consistently break through the resistance, it may pull back. However, from the daily chart, the moving averages are currently in a bullish arrangement, and the price is above MA5, indicating short-term upward momentum. But be cautious; if the price falls below MA5, there may be an adjustment. However, it has not fallen below now, so we still look at the upward trend.
How P2P Lending Reshapes the DeFi Value Logic of BNB Chain
How P2P lending reshapes the DeFi value logic of BNB Chain The DeFi ecosystem of BNB Chain is undergoing a paradigm shift led by **Lista DAO**. As the first protocol to successfully integrate DeFi BNB into Binance Launchpool, Lista DAO has achieved a TVL growth rate of 896.92%, surpassing **$1.1 billion** and becoming the fourth largest protocol on BNB Chain. Its latest launch, **Lista Lending**, is driving the BNB Chain lending market from 'pool monopoly' to 'inclusive finance' through the P2P lending model and ecological synergy, releasing long-term growth momentum for an ecosystem with a $5.32 billion TVL.
## Lista Lending: How P2P Lending Reshapes the DeFi Value Logic of BNB Chain
The DeFi ecosystem of BNB Chain is undergoing a paradigm shift led by **Lista DAO**. As the first protocol to successfully incorporate DeFi BNB into Binance Launchpool, Lista DAO has achieved a TVL growth rate of 896.92%, surpassing **$1.1 billion**, making it the fourth largest protocol on BNB Chain. Its latest launch, **Lista Lending**, driven by a P2P lending model and ecological synergy, is pushing the BNB Chain lending market from 'pool monopoly' to 'inclusive finance', releasing long-term growth momentum for an ecosystem with $5.32 billion TVL.
#ListaLending Innovates BNB Chain Lending ## Lista Lending: How P2P Lending Reshapes the DeFi Value Logic of BNB Chain
The DeFi ecosystem of BNB Chain is undergoing a paradigm shift led by **Lista DAO**. As the first protocol to successfully integrate DeFi BNB into Binance Launchpool, Lista DAO has achieved a TVL growth rate of 896.92%, surpassing **1.1 billion USD**, making it the fourth largest protocol on BNB Chain. Its latest launch, **Lista Lending**, is driving the BNB Chain lending market from 'capital pool monopoly' to 'inclusive finance' through the P2P lending model and ecological synergy, releasing long-term growth momentum for the ecosystem with a TVL of 5.32 billion USD.
How P2P Lending Reshapes the DeFi Value Logic of BNB Chain
How P2P lending reshapes the DeFi value logic of BNB Chain The DeFi ecosystem of BNB Chain is undergoing a paradigm shift led by **Lista DAO**. As the first protocol to successfully integrate DeFi BNB into Binance Launchpool, Lista DAO has achieved a TVL growth rate of 896.92%, surpassing **$1.1 billion** and becoming the fourth largest protocol on BNB Chain. Its latest launch, **Lista Lending**, is driving the BNB Chain lending market from 'pool monopoly' to 'inclusive finance' through the P2P lending model and ecological synergy, releasing long-term growth momentum for an ecosystem with a $5.32 billion TVL.
## Lista Lending: How P2P Lending Reshapes the DeFi Value Logic of BNB Chain
The DeFi ecosystem of BNB Chain is undergoing a paradigm shift led by **Lista DAO**. As the first protocol to successfully incorporate DeFi BNB into Binance Launchpool, Lista DAO has achieved a TVL growth rate of 896.92%, surpassing **$1.1 billion**, making it the fourth largest protocol on BNB Chain. Its latest launch, **Lista Lending**, driven by a P2P lending model and ecological synergy, is pushing the BNB Chain lending market from 'pool monopoly' to 'inclusive finance', releasing long-term growth momentum for an ecosystem with $5.32 billion TVL.