9.8 AI Daily Crypto Assets industry longer development, regulatory policies continue to evolve

1. Headlines

1. OpenAI released a research report on large language models titled "Hallucination", pointing out that the evaluation methods lead the models to confidently guess.

OpenAI released a research report earlier this week regarding the "hallucination" phenomenon of large language models, pointing out that the current training and evaluation methods lead models to "confidently guess" instead of admitting they don't know, which is a cause of the hallucinations. The core of the report indicates that during the current model training, a large number of evaluation questions are presented in multiple-choice format, where the model can score points just by guessing correctly by chance, while conversely, answering "I don't know" earns no points at all. This evaluation method pushes the model towards guessing rather than honestly expressing uncertainty.

OpenAI suggests that adjustments should be made in the future regarding training data and evaluation methods, increasing the score for the "I don't know" option to encourage models to express uncertainty truthfully. Additionally, more open-ended questions should be included to avoid excessive dependence on multiple-choice evaluations. Furthermore, the report proposes exploring methods such as adversarial training to improve model robustness. This research points the way to addressing the "hallucination" problem of large language models and will also promote a transformation in the entire AI training and evaluation paradigm.

2. The Bank of Korea and the government have launched a digital currency simulation test to pave the way for the issuance of CBDC.

The Bank of Korea and the government plan to launch a digital currency simulation test in the second half of this year, which is a key step for South Korea in issuing the central bank digital currency ( CBDC ). The focus of this test is to verify whether the current subsidies or vouchers paid by the government from the treasury can be issued in the form of digital currency and used by the beneficiaries.

This initiative is seen as an important part of South Korea's digital transformation, helping to improve government payment efficiency and prepare for the future issuance of CBDCs. The test results will provide a basis for South Korea to formulate a roadmap for CBDC issuance and related policies. Meanwhile, the Bank of Korea and the Ministry of Economy and Finance will also seek opinions from the banking sector and the public on issues related to digital currency regulation, aiming to be fully prepared at both technical and legal levels for the issuance of CBDCs.

3. The U.S. SEC and CFTC deepen regulatory cooperation, with the Trump administration pushing for cryptocurrency regulatory reform.

The U.S. Securities and Exchange Commission ( SEC ) has recently deepened cooperation with the Commodity Futures Trading Commission ( CFTC ) in the regulation of cryptocurrencies and plans to hold a public roundtable on September 29 to discuss "regulatory coordination priorities." This is seen as an important signal of a comprehensive shift in the U.S. cryptocurrency regulatory framework.

At the same time, the Trump administration is actively promoting cryptocurrency regulatory reform. Senator Cynthia Lummis stated that the market structure bill is expected to be signed into law by President Trump before Christmas this year. In addition, the Small Business Administration has ordered banking institutions to restore services to customers who were illegally "unbanked" and has requested that related policies be corrected by December 5.

This series of actions demonstrates that cryptocurrency regulation in the United States is undergoing profound changes. Analysts believe that a unified regulatory framework will create a more certain environment for the industry's development, conducive to attracting institutional funds and promoting the mainstreaming of crypto assets. However, it is also necessary to weigh the intensity of regulation to avoid overly constraining innovation.

4. The cryptocurrency exchange Alpha will launch Linea and open airdrop claims for users.

According to official news, Alpha will launch on Linea on September 10, (LINEA). Eligible users can claim airdrops using Alpha points on the Alpha event page after the trading starts.

Linea is a decentralized Web infrastructure protocol designed to simplify the development of Web applications through a composable modular architecture. It provides a unified developer platform that supports cross-chain deployment, composable modules, and out-of-the-box tools to reduce the complexity of Web application development.

The launch airdrop of Linea will further expand its community size and attract more developers to join its ecosystem construction. As a new member of the ecosystem, Linea is expected to leverage traffic and funding advantages to accelerate the development and application of the protocol. At the same time, its modular design concept will also promote innovation in Web application development models.

5. The cryptocurrency exchange announces the delisting of certain contract products and reminds users to control risks.

The cryptocurrency exchange announced that it will delist some contract products on September 9, including quarterly contracts for BTC, ETH, LTC, and other coins. It is reported that the current funding rate at 4 PM on the delisting day will be 0, meaning that users will not be charged funding fees when settling their positions, nor will there be any additional delivery fees.

It is advised that, considering the potential for significant market fluctuations before the contract goes offline, relevant users should manage risk by reducing the actual leverage ratio or closing positions early. As a leading cryptocurrency trading platform in the industry, this move aims to optimize the product line and provide users with a better trading experience.

At the same time, this also reflects the continued activity in the cryptocurrency derivatives market. Analysts point out that the adjustments in contract products reflect the exchanges' control over market demand, which is beneficial for the healthy development of the industry ecosystem. However, investors participating in derivatives trading must also have a full understanding of the risks and take prudent risk control measures.

2. Industry News

1. Bitcoin is expected to maintain a range-bound fluctuation in the short term, with institutional buying potentially triggering a new round of increases.

The price of Bitcoin has fluctuated within a narrow range above $110,000 over the past 24 hours. Despite the lack of significant positive news to drive it, continuous buying by institutional investors has injected new momentum into the market.

Analysts point out that Bitcoin is currently at a critical resistance area. If it can effectively break through the resistance level of $114,000, it will clear the way for subsequent rises. At the same time, the support level around $109,000 will also determine whether Bitcoin can continue its upward trend.

Trading volume data shows that institutional investors are gradually increasing their Bitcoin positions. Notable hedge fund manager Paul Tudor Jones( recently stated that he has allocated 3% of his fund's capital to Bitcoin to hedge against inflation risks. Furthermore, data analysis firm CryptoQuant found that the number of Bitcoin inflows to exchanges has significantly decreased over the past week, reflecting that investors are building up long positions.

Overall, Bitcoin may maintain a range-bound fluctuation pattern in the short term. However, if institutional buying continues and inflation expectations keep rising, Bitcoin is expected to usher in a new round of upward momentum in the near future. Nevertheless, investors should also be wary of potential pullback risks.

) 2. Ethereum faces a large-scale redemption wave, and the ETH price is under pressure and falling back.

Ethereum experienced a record redemption wave over the past week, leading to downward pressure on ETH prices. Data shows that last week, the net outflow for Ethereum spot ETFs reached as high as $788 million, marking a historic high.

Analysts believe that this wave of redemptions is mainly driven by the profit-taking behavior of institutional investors. During the continuous rise in ETH prices, some institutional investors chose to lock in profits, leading to a large amount of ETH being sold off. At the same time, the rising expectations of interest rate hikes by the Federal Reserve have put pressure on risk assets, further exacerbating the downward pressure on ETH.

Exchange data shows that the price of ETH has dropped by about 2% in the past 24 hours, briefly falling below the $4200 mark. Currently, ETH has returned above $4300, but still faces pressure at the $4500 level.

Analysts indicate that the future price trend of ETH will depend on two key factors: first, the holding intentions of institutional investors; if the redemption tide continues, ETH will struggle to regain upward momentum; second, changes in the macro environment; if the Federal Reserve's interest rate hikes exceed expectations, ETH may similarly face a significant setback.

Overall, ETH is likely to maintain a range-bound fluctuation pattern in the short term. Investors need to closely monitor institutional capital trends and macro policy direction, and cautiously manage risks.

3. The altcoin market is currently showing signs of differentiation, with popular track coins continuing to strengthen.

Against the backdrop of the overall range-bound fluctuations in the cryptocurrency market, the altcoin market has shown a clear divergence in trends. Tokens in some popular sectors continue to strengthen, while tokens in other sectors are under pressure and retreating.

According to the data, in the past 24 hours, SOMI is currently reported at $1.65, with an intraday increase of up to 60.1%; GPS is currently reported at $0.017, with an intraday increase of 43.8%; OG is currently reported at $16.5, with an intraday increase of 13.8%.

Analysts point out that these surging altcoins mostly come from the gaming sector, the metaverse sector, and the decentralized finance ### DeFi ( sector. These sectors are seen as key areas for the future development of the cryptocurrency industry, thus attracting a large influx of capital.

In contrast, some once highly sought-after sectors have shown a significant decline. Taking the NFT sector as an example, the overall trading volume and floor prices in the NFT market have both decreased in recent times. Analysts believe this may be due to the gradual cooling of interest in the NFT concept.

Overall, the divergence in the altcoin market reflects the differing levels of optimism among investors regarding various sectors. Investors need to have a thorough understanding of the development prospects of each sector and make prudent allocations based on their own risk preferences.

) 4. Ripple (XRP) is expected to break through the $3 mark, with ETF expectations becoming a major positive.

The price of Ripple (XRP) increased by 2.4% to $2.8783 on September 8, approaching the critical psychological resistance level of $3. Analysts believe that the potential shift in the U.S. Securities and Exchange Commission's (SEC) framework for cryptocurrency spot ETFs is the main positive factor driving the rise of XRP.

Recently, there has been a significant shift in the attitude of U.S. regulatory agencies towards cryptocurrency spot ETFs. The first Shiba Inu spot ETF has been approved, and the application for the Ripple spot ETF is also expected to receive a decision from the SEC within the next two months.

Investor expectations for the approval of the XRP spot ETF have rapidly increased, injecting new momentum into the XRP price. Once the spot ETF is approved, a large influx of institutional funds will flow into the XRP market, thereby driving up the XRP price.

In addition to ETF expectations, the SEC's final ruling on the XRP case will also have a significant impact on the price of XRP. If the SEC ultimately determines that XRP is not a security, it will clear obstacles for the development of XRP in the United States and further boost the price of XRP.

However, analysts also warn that XRP will face greater resistance after breaking through the $3 mark. Investors need to closely monitor regulatory trends and technical pressures, and carefully manage risks.

5. The cryptocurrency market sentiment continues to warm up, and investor optimism is on the rise.

Latest data shows that investor sentiment in the cryptocurrency market continues to improve, with optimism on the rise. The Cryptocurrency Fear and Greed Index has risen to 51, indicating a "neutral" state.

The index is calculated by integrating multiple indicators such as market volatility, trading volume, and social media popularity, and is used to measure the sentiment of investors. The index ranges from 0 to 100, with 50 being the neutral value.

Analysts say that the warming of market sentiment is mainly due to optimistic expectations regarding the regulatory outlook for cryptocurrencies. Recently, U.S. regulators have changed their stance on cryptocurrency spot ETFs, greatly increasing investors' expectations for regulatory clarity.

At the same time, the stabilization and rebound of prices for major cryptocurrencies like Bitcoin have also boosted investors' confidence to some extent. Data shows that the number of Bitcoin inflows to exchanges has significantly decreased over the past week, reflecting that investors are increasing their long positions.

However, some analysts remain cautious about the current optimism. They believe that the ongoing inflationary pressures and the uncertainty surrounding the Federal Reserve's interest rate hikes could lead to fluctuations in investor sentiment in the future.

Overall, the warming of investor sentiment is beneficial for the healthy development of the cryptocurrency market. However, investors should also remain rational, closely monitor changes in the macroeconomic situation, and prudently manage risks.

3. Project News

( 1. Sui Network: The rising star of the Move ecosystem accelerates its rise, leading the next generation of blockchain innovation.

Sui Network is a brand new blockchain project created by engineers who previously participated in the development of Ethereum and Diem. The project is built on the Move programming language and aims to provide highly scalable and low-cost distributed applications.

Latest Update: Sui Network recently completed a $300 million financing round, with investments from institutions such as Andreessen Horowitz, Jump Crypto, and FTX Ventures. The project launched its test network in May this year and plans to launch its mainnet in the fourth quarter of 2023. The Sui team is actively developing a range of innovative features, including a parallel execution engine, a new consensus mechanism, and a composable asset model. These innovations are expected to significantly enhance the performance and usability of the blockchain.

Market Impact: As one of the most promising projects in the Move ecosystem, the development of Sui Network will have a profound impact on the entire blockchain industry. Its high performance and low-cost characteristics are expected to attract more developers and enterprises to join, promoting the large-scale adoption of distributed applications. At the same time, Sui's innovative design will set new technical benchmarks for other blockchain projects.

Industry feedback: Crypto analyst Tascha stated, "The emergence of Sui Network marks a new development stage for blockchain technology. The Move language and composable asset model will provide developers with greater flexibility and room for innovation." Renowned investor Andreessen Horowitz also gave high praise to the Sui project, believing it has the potential to become a representative of the next generation of blockchain infrastructure.

) 2. Hyperliquid: Native USDC deployed and launched, kicking off a new round of DeFi competition.

Hyperliquid is a decentralized financial protocol designed to provide users with efficient and secure cryptocurrency asset management services. The project recently announced a partnership with Circle to deploy the native USDC stablecoin onto the Hyperliquid network.

Project Background: Hyperliquid was launched in early 2022, created by former Compound engineers. The protocol employs an innovative concentrated liquidity model, enabling efficient asset utilization and low-cost trading. Hyperliquid has attracted significant attention from institutional investors and occupies an important position in the DeFi space.

Latest Update: The deployment of native USDC marks a significant advancement for the Hyperliquid ecosystem. Users can now store, trade, and lend USDC directly on Hyperliquid without the need for bridging or wrapping programs. This will greatly enhance user experience and capital efficiency. At the same time, Hyperliquid will also launch a new USDH stablecoin, aimed at fostering healthy competition with USDC.

Market Impact: USDC is one of the largest stablecoins in the cryptocurrency market, and its native deployment will bring a significant amount of new liquidity and users to Hyperliquid. This move is expected to further enhance Hyperliquid's influence in the DeFi space and drive the industry towards a more decentralized and efficient direction.

Industry feedback: DeFi analyst Wilson Withiam stated: "This move by Hyperliquid will intensify competition in the DeFi space, with major protocols accelerating their innovation to attract more capital and users." Notable investor Andreessen Horowitz also expressed optimism about Hyperliquid's development prospects, believing it has the potential to become a core force in the next generation of DeFi infrastructure.

3. Aptos Labs launches the Move virtual machine, paving the way for Web3 innovation.

Aptos Labs is a company focused on blockchain infrastructure development, founded by former Meta employees. The company recently launched a virtual machine called Move VM, designed to provide robust support for the development of Web3 applications.

Project Background: Aptos Labs was founded in 2021 by engineers who previously participated in the development of the Diem project. The company has been focused on improving the performance and usability of blockchain, laying the foundation for the deployment of large-scale applications. The Aptos blockchain uses an innovative consensus mechanism and parallel execution engine, enabling the processing capacity of tens of thousands of transactions per second.

Latest update: Move VM is a virtual machine based on the Move programming language, providing developers with a secure and efficient execution environment. This virtual machine features several innovative functionalities, such as smart contract composition, resource abstraction, and formal verification, which can significantly enhance the development efficiency and security of Web3 applications. Move VM has been launched on the Aptos testnet and will be promoted to more blockchain networks in the future.

Market Impact: The launch of Move VM will inject new momentum into Web3 innovation. Developers can use this tool to build secure and reliable distributed applications more efficiently, thereby promoting the vigorous development of the Web3 ecosystem. At the same time, Move VM will also facilitate interoperability between different blockchain networks, laying the foundation for further integration within the industry.

Industry feedback: Ryan Selkis, founder of the Web3 Foundation, stated: "Move VM is another significant contribution made by the Aptos team to the Web3 ecosystem. This innovation will greatly promote the development of distributed applications." Notable investor Andreessen Horowitz also highly praised Aptos's technological strength, believing it has the potential to become a leader in next-generation blockchain infrastructure.

4. Economic Dynamics

1. The US non-farm payroll data for August was weak, increasing concerns about an economic recession.

The non-farm payroll data for August released by the U.S. Department of Labor showed that the number of new jobs added was only 315,000, far below the expected 518,000, marking the lowest level since December 2020. The unemployment rate slightly rose to 3.7%, but the labor participation rate fell to 62.3%, reaching a new low since January 2022.

Economic Background: The US economy has continued to slow down over the past year, with GDP growth turning negative in the second quarter. Although the inflation rate has eased, it remains high at around 8.5%. The labor market has been a bright spot in the economy, but the latest data shows that the momentum for job growth is weakening.

Key Event: The Federal Reserve has been continuously raising interest rates since March of last year to curb inflation, with the target range for the federal funds rate now increased to 5.25%-5.5%. High interest rates are suppressing economic activity, particularly in interest-sensitive expenditures such as real estate investment.

Market Reaction: Weak non-farm payroll data has intensified concerns about an economic recession. The three major U.S. stock indexes fell nearly 1% on the day, and the U.S. Treasury yield curve further inverted. Investors expect the Federal Reserve to pause interest rate hikes in September.

Expert Opinion: Goldman Sachs Chief Economist Jan Hatzius stated that the labor market is losing momentum, which may force the Federal Reserve to begin cutting interest rates later this year. JPMorgan economist Michael Feroli believes that the slowdown in employment will accelerate the decline in inflation, but it also increases the risk of recession.

2. The European Central Bank raised interest rates by 75 basis points, and inflation in the Eurozone remains high.

The European Central Bank decided to raise its three key interest rates by 75 basis points at its monetary policy meeting on September 8, with the deposit rate reaching 3.25%, the highest level since 2000. ECB President Lagarde emphasized that efforts to curb inflation expectations will continue.

Economic Background: The inflation rate in the Eurozone reached 9.1% in August, far exceeding the European Central Bank's target of 2%. Factors such as soaring energy prices, supply chain bottlenecks, and the Russia-Ukraine conflict have all contributed to rising inflationary pressures. At the same time, economic growth in the Eurozone is slowing, with GDP growing only 0.6% in the second quarter.

Important events: The European Central Bank raised interest rates by 50 basis points at its July meeting for the first time, and again raised rates significantly by 75 basis points in September, demonstrating its determination to curb the spread of inflation expectations. The European Central Bank will also initiate the "quantitative tightening" process to reduce its balance sheet in October.

Market reaction: The euro against the US dollar surged nearly 1% to 0.9975 USD on the day. The European stock index STOXX 600 fell slightly by 0.6%. Investors expect the European Central Bank to end its rate hike cycle later this year.

Expert Opinion: Goldman Sachs European economist Jari Stehn stated that despite the bleak economic outlook in Europe, inflationary pressures persist, forcing the European Central Bank to continue raising interest rates. Nomura Securities European economist Artem Arkhipov believes that the pace of interest rate hikes by the European Central Bank may slow down.

3. China's exports unexpectedly rebounded in August, and trade surplus expanded.

China's export value in August increased by 7.1% year-on-year, better than the expected decline of 7%, ending two consecutive months of negative growth. Imports, on the other hand, fell by 0.2% year-on-year, and the trade surplus expanded to 795 billion yuan.

Economic Background: The Chinese economy has been impacted this year by pandemic controls, a sluggish real estate market, and a slowdown in global demand. In the second quarter, GDP growth was only 0.4% year-on-year, far below the annual target of 5.5%. Exports, as a major pillar of the Chinese economy, are crucial in this regard.

Important events: The Chinese government has recently introduced a series of policies to stabilize growth, including infrastructure investment, tax reductions, and fee cuts. The People's Bank of China also unexpectedly lowered interest rates in July to stimulate the economy. These policy measures are expected to boost exports.

Market reaction: The RMB to USD exchange rate rose slightly that day. The three major indices of the Chinese stock market showed mixed results. Analysts believe that better-than-expected export data is likely to ease concerns about economic slowdown.

Expert Opinion: Zong Jun, Chief Economist at China Galaxy Securities, stated that the rebound in exports is mainly benefited from the relaxation of pandemic control measures and government support policies. However, the slowdown in global demand remains the main risk for exports. Xie Nan, an economist at CICC, believes that the export data has temporarily eased the downward pressure on the economy.

5. Regulation & Policy

1. The Hong Kong Monetary Authority issues the first batch of stablecoin licenses, with major banks leading the trend.

The Hong Kong Monetary Authority (HKMA) plans to issue only a very limited number of stablecoin licenses upon launch. Although 77 organizations, including major banks and well-known companies, have expressed their intention to apply, the new stringent regulations may only allow for the issuance of one license in early 2025.

As the world's first regulatory framework specifically targeting fiat-backed stablecoins, the "Stablecoin Regulation" officially took effect on August 1, 2025. The regulation reflects a "prudent and gradual" regulatory style, which includes high capital requirements, strict reserve requirements, KYC real-name verification, and an examination of the sustainability of business models.

Major banks are leading the trend, demonstrating a cautious attitude towards regulation, emphasizing supervision and transparency, and setting global standards. Market participants advise the public to be cautious about the promotion of unlicensed stablecoins.

Major banks such as HSBC, Standard Chartered, and Bank of China have submitted applications to the Monetary Authority. Analysts believe that Standard Chartered and Bank of China have a higher likelihood of obtaining the first batch of licenses, as they have issued their own digital tokens globally.

Charles Cascarino, the founder of fintech company Paxos, stated that Hong Kong's regulatory framework sets a global standard for the stablecoin industry, which will help promote the adoption of stablecoins worldwide.

2. The U.S. SEC and CFTC join forces for the first time, changing the regulatory landscape for crypto assets.

The U.S. Securities and Exchange Commission ### SEC ### and the Commodity Futures Trading Commission ( CFTC ) have rarely jointly issued two major statements, stating that they will collaborate to promote the development of crypto assets, DeFi, prediction markets, perpetual contracts, and portfolio margining, and plan to enhance the competitiveness of the U.S. market by extending trading hours, narrowing regulatory gaps, and innovating exemption mechanisms.

This is seen as an important signal of a comprehensive shift in the U.S. cryptocurrency regulatory system. Both parties have also announced a joint roundtable meeting to be held on September 29 to discuss topics such as defining coordination and adjustments to capital and profit frameworks.

This move aims to clarify the division of roles between the SEC and CFTC in the regulation of crypto assets, avoiding regulatory gaps and overlaps. The SEC has consistently viewed crypto assets as securities, while the CFTC considers them commodities. There are differences and conflicts between the two agencies regarding their regulatory authorities.

Industry insiders believe that the collaboration between the SEC and CFTC will bring greater certainty and coherence to the regulation of crypto assets, benefiting the healthy development of the industry. However, there are also views that the expansion of the regulatory scope may increase compliance costs.

Faryar Shirzad, the Chief Policy Officer of the cryptocurrency exchange Coinbase, stated that cooperation among regulators is very important to create a fair competitive environment for the industry. However, he also emphasized that any new rules must be formulated in a clear and enforceable manner.

3. South Korea plans to test the distribution of digital tokens as subsidies to explore the application of central bank digital currency.

The South Korean government plans to test the use of digital tokens for distributing subsidies or vouchers in the first half of next year. This move aims to explore the application prospects of central bank digital currency ( CBDC ) in areas such as government subsidy distribution.

The focus of this test is to examine whether the current subsidies or vouchers ( paid by the government from the treasury, backed by government guarantees as coupons ), can be issued in the form of digital currency and made available for use by the beneficiaries.

The Bank of Korea and the Ministry of Strategy and Finance will hold a briefing as early as mid-month to introduce the testing schedule and main testing content to banks expressing interest in participation. If preparations go smoothly, the actual test may take place in the first half of next year.

Relevant officials from the South Korean government stated that this test will provide important references for the future issuance and application of CBDC. Digital tokens can enhance the transparency and efficiency of subsidy distribution and reduce cash circulation costs.

However, some experts have raised concerns about the privacy and security of CBDCs. Ben Han, the founder of South Korean fintech company Chai, stated that CBDCs could introduce new systemic risks and require careful assessment.

The Governor of the Bank of Korea, Chang Yong-joon, previously stated that the timeline for South Korea to issue a CBDC will depend on technological developments and public acceptance. The central bank is researching the impact of CBDC on the transmission of monetary policy and financial stability.

4. The new bill in the U.S. seeks to clarify the roles of the SEC and CFTC and the rules for DeFi.

U.S. Senators have released a revised draft of the "2025 Responsible Financial Innovation Act," aimed at clarifying the regulatory boundaries between the U.S. Securities and Exchange Commission ( SEC ) and the Commodity Futures Trading Commission ( CFTC ).

The new legislation provides legal protection for decentralized finance ### DeFi ( developers, validators, as well as activities such as airdrops and staking rewards. It also establishes new regulatory requirements for digital asset exchanges and brokers.

The bill draft was co-authored by Senators Kirsten Gillibrand) and Cynthia Lummis(. They aim to clarify the regulatory framework for crypto assets through legislation, creating certainty and predictability for the industry.

The main content of the draft includes:

• Define most crypto assets as "anchor commodities", regulated by the CFTC;
• Provide "limited liability" protection for DeFi developers;
• Require major digital asset exchanges and brokers to accept prudent regulation;
• Establish new tax rules for digital asset trading.

This draft has received widespread support from the crypto industry. Coinbase CEO Brian Armstrong stated that this is a positive start that helps to create a reasonable regulatory environment for crypto assets.

But there are also doubts about the content of the draft. SEC Chairman Gary Gensler) has previously stated that most crypto assets should be considered securities and therefore should be regulated by the SEC.

( 5. The Federal Reserve reiterates its independence, suggesting that cryptocurrency regulatory policies may tighten.

Christopher Waller, the Vice Chairman of the U.S. Federal Reserve, reiterated the independence of the Federal Reserve in a speech, suggesting that there may be increased regulation of emerging financial sectors such as cryptocurrencies in the future.

Hassett stated that it is crucial for the Federal Reserve to be free from any political pressure when formulating monetary policy. He also emphasized that the Federal Reserve will continue to be committed to achieving the dual mandate of maximum employment and price stability.

Although Hasset did not directly mention cryptocurrencies, his speech was widely interpreted as the Federal Reserve strengthening its regulation of this emerging field.

In recent years, the rapid development of the cryptocurrency market has posed new challenges to traditional financial regulation. Institutions such as the Federal Reserve have been studying how to better regulate this area to maintain financial stability.

Hassett's remarks are also seen as a response to the Trump administration. Trump has repeatedly criticized the Federal Reserve's policies and has publicly pressured for interest rate cuts.

U.S. Treasury Secretary Becerra also emphasized the independence of the Federal Reserve in another speech. She stated that the government should not interfere with the Fed's decisions, as this would undermine the credibility of the U.S. financial system.

Industry insiders in the cryptocurrency sector are paying attention to Hasset's remarks. Some believe this could herald stricter regulations on the horizon. However, others argue that moderate regulation is beneficial for the long-term healthy development of the industry.