9.5 AI Daily The regulation of Crypto Assets is tightening while innovation coexists, presenting new opportunities and challenges for industry development.

1. Headlines

1. American AI company Anthropic announces a ban on Chinese-controlled enterprises from using its services.

Anthropic is an artificial intelligence company based in San Francisco, whose large language model Claude has received widespread acclaim in the industry. The company recently announced that it would immediately stop providing services to groups or their subsidiaries that are predominantly owned by Chinese capital. This decision has sparked widespread attention and controversy.

Anthropic announced on its official website that this move is aimed at addressing legal, regulatory, and national security risks. The company explained that the Chinese government may require companies operating in China to share training data and models of AI systems, thereby obtaining sensitive information, which contradicts Anthropic's values.

This decision applies not only to companies in mainland China but also to those subsidiaries established abroad, cloud service transit entities, or organizations with Chinese background investment subjects. Industry insiders point out that this may affect many Chinese concept stocks listed in the U.S.

Chinese Foreign Ministry spokesperson Geng Shuang responded at a regular press conference, stating that he was not aware of the specific situation, but China has always opposed any form of discriminatory practices. He emphasized that Chinese enterprises operate legally and in compliance overseas, creating a large number of job opportunities and tax revenue for the local area, and should be treated fairly.

2. Ethereum whale infighting intensifies, major breakthrough may be imminent.

The price of Ethereum ( ETH ) has been in a consolidation phase over the past month, but recent analysis shows that there is a significant divergence within the whale camp, which may trigger major fluctuations in the coin price.

On one hand, one of the largest investors in Ethereum—Grayscale ( recently launched an innovative product ETCO, aimed at converting market volatility into cash flow through options strategies. This indicates Grayscale's optimistic view on the future trend of ETH.

On the other hand, data from the crypto analytics company CryptoQuant shows that since mid-August, some veteran investors in Ethereum have been selling off their positions in large quantities. This includes several well-known crypto funds that seem to have a pessimistic outlook on the short to medium-term prospects of ETH.

Industry analysts believe that the internal strategic differences within this giant whale reflect the current market's significant divergence regarding the development prospects of Ethereum. Once a breakthrough positive or negative news occurs, it could trigger drastic price fluctuations.

From a technical perspective, Ethereum is currently facing a strong resistance level around $4600. If it can effectively break through this level, it will open up upward potential for the price, with the next target possibly being around the historical high of $5200. Conversely, if it falls below the key support level of $4200, it may trigger further corrections.

) 3. New crypto regulation in South Korea prohibits high-leverage lending transactions

The South Korean government recently introduced new regulations aimed at strengthening the oversight of cryptocurrency lending services. The new rules prohibit cryptocurrency exchanges from offering high-leverage lending services, with a maximum leverage rate not exceeding 2 times.

Previously, some cryptocurrency exchanges in South Korea offered leverage lending services of up to 10 times, which were criticized for having high investment risks. The introduction of new regulations aims to curb excessive speculation and maintain market stability.

In addition to limiting leverage ratios, the new regulations also require exchanges to cooperate with financial institutions such as banks to ensure that the sources of loan funds are legitimate. At the same time, exchanges are required to conduct strict reviews of borrowers and assess their repayment capabilities.

South Korea's financial regulators stated that the new regulations will contribute to the long-term healthy development of the cryptocurrency market. Some exchange leaders also expressed their understanding and support for the regulatory authorities' actions and will actively cooperate with the implementation of the new rules.

However, some industry insiders are concerned that overly strict regulations may impact the innovative vitality of the South Korean cryptocurrency industry. They call for maintaining a certain level of development space for the industry while preventing risks.

4. European Central Bank: The digital euro is a key cornerstone for payment security and financial inclusion.

The latest statement from the European Central Bank ### ECB ( pointed out that the planned digital euro will not only complement physical cash but will also become a core tool to ensure payment security and promote financial inclusion.

Piero Cipollone, an executive board member of the European Central Bank, emphasized in a briefing to the European Parliament's Economic and Monetary Affairs Committee that the digital euro would provide Europe with a more resilient, sustainable, and universally accessible payment solution in the face of risks from infrastructure disruptions and reliance on external payments.

Cipollone stated that the digital euro "will ensure that all Europeans have access to a free, universally accepted digital payment method at all times, even in the event of major disruptions."

Some lawmakers have raised concerns about the privacy protection capabilities of the digital euro, fearing that central bank-supported accounts could undermine the private sector. In response, Cipollone emphasized that the central bank will not hold information on the payers and payees, and the privacy protection of the digital euro's offline solution can compare to that of cash.

Since 2023, the legislation for the digital euro has been submitted to the European Parliament, but it has been delayed due to political and electoral influences. Cipollone stated that the European Central Bank expects the relevant legislation to be in place by the second quarter of 2026.

) 5. Nasdaq plans to strengthen regulation, cryptocurrency companies may be forced to disclose the purpose of coin purchases.

According to foreign media reports, the Nasdaq Stock Exchange plans to strengthen its regulation of listed companies purchasing cryptocurrencies through fundraising, requiring companies to obtain shareholder approval and disclose in detail the purpose of the purchase, risks, and impacts on their main business; otherwise, they will face suspension or even delisting.

This policy quickly triggered a chain reaction, with the stock prices of several publicly listed companies involved in cryptocurrency business falling in response, and the crypto market dipping in the short term.

Industry lawyers point out that such regulatory actions remind companies to strictly adhere to exchange rules in their digital asset layout to avoid forced transaction cancellations in the future.

Analysts believe that Nasdaq's move aims to protect investors' interests and prevent listed companies from speculating through the purchase of high-risk assets such as cryptocurrencies. However, there are also views that excessively strict regulation may restrict the innovative vitality of enterprises.

Overall, this regulatory trend reflects that traditional financial institutions are gradually paying attention to the risks posed by cryptocurrencies and are trying to regulate companies' related behaviors through rules. More detailed regulatory policies may be introduced in the future.

2. Industry News

1. Bitcoin is under short-term pressure, but the long-term outlook remains bullish.

Bitcoin has slightly declined by 0.5% in the past 24 hours, priced at $110,789. This pullback is mainly attributed to weak U.S. employment data, raising concerns in the market about the Federal Reserve's interest rate hike path. The number of initial jobless claims rose to 237,000, exceeding expectations, indicating increased employment pressure.

Analysts point out that although Bitcoin faces short-term pullback pressure, the long-term outlook remains bullish. The supply of Bitcoin continues to decrease, and the unspent transaction output price distribution ###URPD( shows that investors are accumulating in the range of $108,000 to $116,000. This indicates that there is active buying on dips in the market.

In addition, institutional investors continue to increase their holdings in Bitcoin. Data shows that as of September 5, a total of 68 listed companies hold Bitcoin as a strategic reserve asset. State Street Bank disclosed a Bitcoin exposure worth $1.8 billion. This reflects the recognition of Bitcoin's long-term value by institutions.

Overall, despite the inevitable short-term fluctuations, the long-term outlook for Bitcoin remains positive. Supply tightening and continued inflow of institutional funds will provide strong support for Bitcoin's price.

) 2. Ethereum ETF approval is imminent, and a price breakthrough of 4500 USD is expected.

Ethereum has risen 1% against the trend in the past 24 hours, reporting above $4,300. Multiple positive factors resonate, injecting momentum into the upward movement of ETH prices.

First, on-chain data shows that there are currently 833,000 ETH stranded in the 14-day staking queue, of which 824,000 are waiting to exit, leading to a continuous tightening of market circulation supply. This supply-demand imbalance is providing strong upward pressure on the price of Ethereum.

Secondly, futures traders are increasingly positioning themselves for bullish positions. Data shows that if Ethereum falls below $4300, the liquidation intensity of mainstream cumulative long positions will reach $712 million. This indicates traders' expectations for an increase in ETH prices.

Additionally, multiple analysts believe that the approval of the Ethereum spot ETF is imminent. Once approved, institutional funds are expected to flood in, pushing the ETH price to break through the $4500 resistance and challenge its historical high.

Overall, supply shortages, increased institutional demand, and clearer regulations have jointly created favorable conditions for the upward movement of Ethereum prices. Investors remain optimistic about the long-term prospects of ETH.

3. XRP price is under short-term pressure, but long-term bullish potential remains.

Ripple (XRP) has slightly declined in the past 24 hours, trading around $2.82. XRP is facing some short-term pressure, but its long-term bullish potential remains promising.

In the short term, the XRP price is consolidating between the support level of $2.77 and the resistance level of $2.86, and has not yet formed a clear trend. Although market sentiment leans bullish, the surge in forced liquidations may put some pressure on the XRP price.

However, in the long term, XRP is expected to experience a surge. First, the launch of the XRP Mastercard will bring new application scenarios. Secondly, once the spot ETF is approved, institutional funds are expected to flood into the XRP market. In addition, the continuous expansion of the XRP ecosystem will also inject momentum for its price increase.

Analysts point out that once the XRP/BTC trading pair forms a clear bullish signal, the XRP price may experience a significant rise, targeting the key resistance level of $3.65.

Overall, although XRP is under short-term pressure, its long-term prospects remain promising. The clarification of regulations, ecological development, and institutional demand will jointly drive the XRP price to break upward.

3. Project Highlights

1. Poseidon: AI voice input project led by a16z, launching a new zero-cost airdrop model

Poseidon is an AI voice input project incubated by Story Protocol and led by a16z. The project aims to collect high-quality voice data through user voice input to provide materials for training AI voice models.

Latest news: Poseidon has officially launched recently, and users can obtain project token airdrops through daily voice input. This "zero-cost" model has attracted considerable attention, and it is reported that within just a few days of its launch, Poseidon has drawn in a large number of users. The project's chief scientist, Sandeep, stated that collecting multilingual and multiscenario voice data is crucial for improving the accuracy of AI voice models.

Market Impact: Poseidon's zero-cost model has opened new user acquisition channels for AI projects and is expected to promote the integrated development of AI and blockchain technology. In the future, similar modes such as voice input and image labeling may become common practices for AI projects, thus facilitating healthy interactions between AI and the ecosystem.

Industry feedback: Analysts believe that Poseidon's zero-cost model, while attracting a large number of users, still needs to be observed for its long-term development. Some investors are concerned that users may only participate for the airdrop, lacking real usage demand. However, others are optimistic about this model, believing it provides a new direction for exploring business models for AI projects.

2. Tempo: Stripe and Paradigm join forces to create a new blockchain for enterprise payments.

Tempo is a new blockchain project launched by payment giant Stripe in collaboration with crypto investment firm Paradigm, focusing on enterprise payments and stablecoin applications.

Latest Update: Tempo has recently been officially announced as a blockchain optimized specifically for scenarios such as enterprise payments, B2B invoicing, and cross-border remittances. The project aims to provide stablecoins with practical uses beyond trading and promote them into the traditional financial sector. Tempo's early partners include institutions like Deutsche Bank and Visa.

Market impact: The emergence of Tempo may drive the application of stablecoins in traditional financial scenarios such as corporate payments, and is expected to promote the integration of cryptocurrencies with traditional finance. At the same time, Tempo has also opened up a new track for the application of blockchain technology in enterprise-level applications, which may attract more companies in the future.

Industry Feedback: Industry insiders generally believe that Tempo is a forward-looking project. It combines blockchain technology with traditional financial needs and is expected to promote the large-scale application of cryptocurrencies. However, some analysts are concerned that the requirements for enterprise-level applications on blockchain technology are quite high, and whether Tempo can progress smoothly remains to be seen.

3. Ethena: Fully integrated USDe stablecoin, promoting institutional-level DeFi applications

Ethena is a DeFi protocol that issues the algorithmic stablecoin USDe. In the latest news, the institutional-grade crypto trading platform has announced full integration of USDe, supporting spot, derivative, and custody services for this asset.

Latest Update: The partnership with Ethena marks the official entry of USDe into the institutional-grade market. Currently, the market capitalization of USDe has reached $12.5 billion, making it the third largest stablecoin after USDT and USDC. This integration will provide institutional clients with more options for DeFi investments and yield strategies.

Market Impact: The institutional-level application of USDe is expected to drive the DeFi ecosystem to expand into broader markets. In the future, more institutional funds may participate in DeFi through USDe, injecting new vitality into the entire ecosystem. At the same time, other stablecoin projects may follow suit, further advancing the institutionalization process of DeFi.

Industry feedback: Analysts believe that the institutional-level layout of USDe is an important milestone in the development of the DeFi ecosystem. It provides institutional clients with a secure and compliant DeFi investment channel, which helps attract more funds into this field. However, some are concerned that excessive institutionalization may affect the decentralized characteristics of DeFi.

4. Economic Dynamics

1. The US employment data for August is weak, making a September rate cut by the Federal Reserve almost certain.

Economic Background: The US economy showed weakness in the first half of 2025, with GDP growth slowing to 1.5%, inflation remaining high at around 5%, and the unemployment rate rising from 3.5% at the beginning of the year to 4.2%. Nevertheless, the labor market has been seen as a bright spot in the economy.

Important event: The U.S. non-farm payrolls in August only increased by 75,000, far below the expected 180,000. At the same time, the unemployment rate rose to 4.3%, the highest since 2021. This weak data has heightened market concerns about an economic slowdown.

Market response: U.S. stock futures continued to rise ahead of the non-farm payroll data release, while the Bitcoin market faced dual pressures from long-term holders selling off and a surge in the MOVE index. Investors' expectations for the Federal Reserve to cut interest rates again in September have increased, with the futures market at one point showing a 99% probability of a rate cut.

Expert Opinion: Santander's Chief Economist for the U.S., Stanley, stated, "The labor market is essentially frozen, and companies are pausing hiring to observe." Against this backdrop, the market generally expects at least a 25 basis point rate cut in September. Federal Reserve official Williams also hinted that, as time goes on, it is appropriate to shift interest rates to a more neutral level.

2. Nasdaq strengthens scrutiny of listed companies' crypto investments, causing market turmoil

Economic Background: Since 2025, the cryptocurrency market has experienced significant volatility. Bitcoin peaked at nearly $200,000 within the year but also briefly fell below $80,000. At the same time, an increasing number of publicly listed companies have begun investing in crypto assets.

Important Event: The NASDAQ exchange plans to strengthen its regulation of listed companies purchasing cryptocurrencies through fundraising, requiring companies to obtain shareholder approval and to disclose in detail the purposes of the cryptocurrency purchases, risks, and impacts on their main business.

Market reaction: This policy news quickly triggered a chain reaction, with the stock prices of several publicly listed companies involved in cryptocurrency falling sharply. State Street Bank disclosed a Bitcoin exposure valued at $1.8 billion, and its stock price fell by 3.8% on the same day.

Expert analysis: Industry lawyers point out that such regulatory actions remind companies to strictly comply with exchange rules in their digital asset layout to avoid forced reversals of transactions in the future. Amid market fluctuations, multi-asset trading platforms will provide users with a safe and efficient trading and allocation experience to help them seize market opportunities.

3. The European Central Bank advances the research and development of the digital euro, raising privacy and regulatory controversies.

Economic Background: Digital currencies have become a hot topic for central banks worldwide. The People's Bank of China has issued the digital yuan, and the Federal Reserve is also actively researching the digital dollar. The European Central Bank is similarly advancing the development of the digital euro.

Important event: Piero Cipollone, a member of the European Central Bank's Governing Council, stated to the parliamentary Economic Committee that the digital euro will ensure that Europeans can use a free and universally accepted digital payment method at any time.

Market reaction: Some lawmakers have expressed opposition, worrying that digital currencies cannot protect user privacy, and that accounts supported by the central bank could undermine the private sector. Regarding privacy issues, Cipollone emphasized that the central bank will not have access to the information of payers and payees.

Expert Opinion: Cipollone stated that the European Central Bank expects the legislation related to the digital euro to be in place by the second quarter of 2026. Analysts believe that the launch of the digital euro will strengthen Europe's defense capabilities against network and infrastructure disruptions, but it also requires the improvement of relevant laws and regulations.

5. Regulation & Policy

1. The US SEC plans to ease regulations on crypto assets, bringing new opportunities to the industry.

The U.S. Securities and Exchange Commission (SEC) recently released its Spring 2025 Regulatory Agenda, proposing several new rule suggestions for crypto assets. This move is seen as a significant shift in the SEC's regulatory stance towards the crypto market, aiming to pave the way for the inclusion of digital assets into the existing framework.

The SEC plans to amend the Securities Exchange Act to allow certain crypto assets to be traded on registered exchanges and alternative trading systems (ATS). At the same time, the commission intends to relax some exemption provisions, simplify disclosure processes, and reduce the compliance burden on crypto companies. In addition, the SEC is also considering providing a "safe harbor" for cryptocurrencies, allowing related projects to be exempt from securities registration under certain conditions.

This series of measures aims to provide a clearer regulatory framework for crypto assets and enhance market certainty. SEC Chairman Paul Atkins stated that this agenda will "help clarify the regulatory framework for crypto assets and provide greater certainty for the market." He emphasized that the SEC has withdrawn some of the overly stringent regulatory projects from the previous administration, opting instead for more flexible policies that promote innovation.

Industry insiders generally welcome this. Coinbase CEO Brian Armstrong agrees with the SEC's approach, believing it will create a more favorable environment for industry development. However, some experts also remind that the SEC still needs to seek a balance between investor protection and promoting innovation, avoiding excessive deregulation that could lead to market disorder.

2. The UK plans to amend anti-money laundering regulations to strengthen oversight of cryptocurrency companies.

The UK Treasury published a draft amendment to anti-money laundering regulations this week, proposing stricter regulatory requirements for cryptocurrency businesses. This move aims to address regulatory loopholes and tackle the evolving new risks of financial crime.

According to the draft, the UK's Financial Conduct Authority will implement a broader "fit and proper" test for the controllers of crypto companies, replacing the current beneficial owner test. This helps regulators comprehensively review the complex ownership structures of companies.

In addition, the new regulations will lower the threshold for notifying changes in control from 25% to 10%. This means that any parties acquiring 10% or more of the equity or having significant influence must notify the UK Financial Conduct Authority.

The UK Treasury stated that these updates aim to establish a more risk-based and proportionate system that can effectively combat financial crime while being feasible for the industry. The government has also committed to publishing separate guidance on issues such as digital identity verification to further regulate anti-money laundering compliance practices.

The cryptocurrency company expressed understanding. Marcus Hughes, the general manager of Coinbase's UK branch, believes that strengthening regulation helps improve industry transparency and gain public trust. However, he also urged that regulators should maintain sufficient communication with the industry when formulating new rules to avoid overly stringent measures that could hinder innovation.

3. The National Natural Science Foundation of China has launched a research project on stablecoin risk governance.

The Management Science Department of the National Natural Science Foundation of China recently released the application guidelines for the 2025 Issue 3 Emergency Management Project titled "Research on Global Stablecoin Risk Governance and Cross-Border Collaborative Supervision System." This project focuses on the challenges stablecoins pose to the international monetary system and their risk transmission mechanisms.

The study includes one main topic and five subtopics, covering aspects such as the structural evolution of stablecoins, intrinsic vulnerabilities, the impact on monetary sovereignty, shocks to the financial intermediation system, and global regulatory frameworks. The main topic is the research on the evolution trends of global stablecoins, risk transmission, and China’s risk governance and strategic response.

Subtopics include: research on the structural evolution of global stablecoins and their impact on the international monetary system; research on the intrinsic vulnerabilities of stablecoins, risk transmission, and macroprudential management; research on the impact of stablecoins on monetary sovereignty and the effectiveness of monetary policy; research on the impact of digital currencies on China's financial intermediary system, transmission, and response strategies; research on the global stablecoin regulatory framework, financial infrastructure, and cross-border coordination.

The project aims to systematically study the development trends of stablecoins and their impact on the international monetary system, financial stability, and monetary sovereignty, providing theoretical support for the formulation of relevant policies in our country. Experts indicate that as the influence of stablecoins continues to expand, the issues of risk governance are increasingly being emphasized. This research will provide decision-making references for China to cope with the challenges posed by digital currencies.

4. Nasdaq strengthens scrutiny of listed companies' cryptocurrency purchases, attracting market attention.

According to reports, the Nasdaq Stock Exchange is strengthening its scrutiny of listed companies' behavior regarding fundraising to purchase cryptocurrencies. Nasdaq plans to require companies to obtain shareholder approval and disclose in detail the use of the purchased coins, the risks involved, and the impact on their main business; otherwise, they will face suspension or even delisting.

This policy immediately triggered a market reaction. The stock prices of several listed companies involved in cryptocurrency investment fell sharply, with SBET down 8.26%, BNC down 2.18%, ALTS down 13.8%, and ABTC down 20.3%.

The Nasdaq's move aims to enhance the transparency of listed companies' investments in cryptocurrencies to avoid misleading investors. However, some analysts are concerned that this may slow down the current cryptocurrency boom and restrict institutional capital inflows into the digital asset market.

The listed company expressed understanding but also concerns. MicroStrategy CEO Sikka believes that the disclosure requirements are reasonable, but overly stringent approval processes may impact the company's strategic layout. He calls on Nasdaq to seek a balance between regulation and promoting innovation.

Industry insiders point out that the regulatory actions of Nasdaq remind companies to strictly adhere to exchange rules in their digital asset layout to avoid forced withdrawal of future transactions. At the same time, this also reflects the regulators' concerns about the speculative nature of the cryptocurrency market, which may lead to further tightening of related policies in the future.