1. Google quietly released an application that can run AI models locally.
Last week, Google quietly launched an application that allows users to run a series of open-source AI models provided by the AI development platform Hugging Face on their mobile phones. This application, named "Google AI Edge Application Library," is currently available on the Android platform, with the iOS version coming soon. Users can find, download, and run compatible models through this application, enabling functionalities such as image generation, question answering, code writing and editing. These models support offline operation, requiring no internet connection, and directly utilize the processor of the supported phones.
Cloud-based AI models are usually more powerful than local models, but they also pose privacy and security risks. Google's move aims to allow users to run AI models securely and efficiently on local devices, meeting the growing demand for artificial intelligence. However, the application is still in the early stages, with limited supported models and features. Over time, Google may continue to expand its capabilities, providing users with more options.
This move reflects that tech giants are intensifying their布局 in the field of artificial intelligence, vying for the future AI market. By providing localized AI services, Google is expected to attract more users and gain a competitive advantage in areas such as privacy protection. However, other tech companies are also accelerating their deployment in the field of artificial intelligence, and future market competition will become increasingly fierce.
2. The Securities and Exchange Commission expresses concerns about the equity pledge rewards for cryptocurrency ETFs.
A potentially groundbreaking effort aims to launch U.S. cryptocurrency exchange-traded funds that offer staking rewards, but even after these funds indicate they have received preliminary approval from the Securities and Exchange Commission, regulatory concerns remain.
The Securities and Exchange Commission questions the eligibility of the REX Osprey Staked ETF, raising concerns about its compliance with ETF regulations. This highlights the challenges of integrating cryptocurrency products into the traditional financial system, affecting their growth and acceptance. Regulatory clarity is crucial for the future of crypto-related financial products, ensuring market stability and fostering innovation across various industries.
The REX Osprey Staked ETF aims to provide investors with Ethereum staking rewards, which is unprecedented in traditional ETFs. However, the SEC is concerned that this may violate the requirement for ETFs to be passively managed. Additionally, there are potential manipulation risks and other regulatory issues.
Discrepancies between the cryptocurrency industry and regulatory agencies have always existed. Proponents believe that cryptocurrency products help improve market efficiency and access new investment opportunities. However, regulatory agencies are concerned about issues such as investor protection and systemic risks. Both parties need to engage in further dialogue to seek a balance.
The price of Bitcoin briefly fell below the $104,000 mark on June 1, triggering significant volatility in the cryptocurrency market. Data shows that Bitcoin dropped to a low of $104,057, nearly a 3% decline from the previous day. Major cryptocurrencies like Ethereum also experienced varying degrees of decline.
Bitcoin has been fluctuating narrowly above $100,000 recently, and this dip has raised market concerns. Analysts point out that it will be difficult for Bitcoin to break through the $110,000 mark in the short term, facing some downward pressure. Factors such as the global macroeconomic situation and regulatory policies may all affect the trend of the cryptocurrency market.
However, some analysts believe that the short-term decline of Bitcoin provides a better entry opportunity for long-term investors. In the long run, Bitcoin, as a new type of asset, still has broad development prospects. Its characteristics of decentralization and anti-inflation are expected to attract more institutional funds to enter the market.
Overall, the cryptocurrency market may remain volatile in the short term, and investors should exercise caution. However, in the long run, cryptocurrencies like Bitcoin are expected to gain wider recognition and application. The clarification of relevant regulatory policies will also inject new momentum into the industry's development.
4. Whale James Wynn's multiple exchange accounts have been closed, or they may be unblocked through legal means.
Famous cryptocurrency trader James Wynn recently stated in a post that multiple accounts on exchanges have been closed without reason, and he may seek legal means to have them reopened. Wynn is known for his high-risk, high-leverage trading strategies and has previously been fully liquidated due to significant losses.
Wynn stated that although his trading strategy is high-risk, it does not violate any rules. He questioned the reasons and procedures for the exchange closing accounts, considering it an infringement of personal property rights. Wynn also revealed that he has begun preparing relevant legal procedures to protect his rights.
The incident has once again raised regulatory and compliance issues for cryptocurrency exchanges. On one hand, exchanges review ownership of suspicious accounts to prevent illegal activities such as money laundering. On the other hand, it is also necessary to protect the legitimate rights and interests of investors and adhere to principles of fairness and justice.
Industry insiders point out that cryptocurrency trading regulation will be a key focus in the future, and a complete set of systems and processes needs to be established. At the same time, investors should also understand the risks and view market fluctuations rationally. Only with the joint efforts of all parties involved can the cryptocurrency market develop in a healthy and orderly manner.
5. Traditional financial institutions layout cryptocurrency, triggering a new round of changes in the industry.
Recently, an increasing number of traditional financial institutions have begun to venture into the cryptocurrency space, triggering a new wave of transformation in the industry. Several institutions, including BlackRock and Goldman Sachs, have launched or plan to launch cryptocurrency-related products and services.
Analysts believe that the entry of traditional financial institutions will bring more capital and regulatory recognition to the cryptocurrency market. These institutions have strong financial strength and professional investment teams, which are expected to drive the cryptocurrency market towards a more mature and standardized direction.
At the same time, the innovation of cryptocurrencies themselves is continuously advancing. Upgrades to public chains like Ethereum provide better infrastructure for cryptocurrency applications. Emerging fields such as decentralized finance ( DeFi ), non-fungible tokens ( NFT ), are attracting more and more attention.
However, there are still some challenges in the cryptocurrency market, such as regulatory uncertainty and security risks, which require the concerted efforts of all parties involved to address. Only with a positive interaction between the cryptocurrency ecosystem and the traditional financial system can the industry achieve significant development.
2. Industry News
1. Bitcoin briefly fell below the $104,000 mark, raising concerns in the market.
Bitcoin briefly fell below the key support level of $104,000 on June 1, raising fears of further declines. Analysts point out that bitcoin has recently encountered selling pressure, mainly due to increased uncertainty about the global economic outlook. Factors such as escalating trade tensions between the United States and China and expectations of Fed interest rate hikes have weighed on risk assets.
Traders are closely watching whether Bitcoin can gain strong support around $104,000. If it fails to stabilize at this level, Bitcoin may further dip towards the $100,000 or even $90,000 mark. However, some analysts believe that Bitcoin is unlikely to break below the $100,000 threshold in the short term, as a large number of buy orders had been triggered at this level previously.
Overall, Bitcoin is expected to oscillate and consolidate in the range of $100,000 to $105,000 in the short term. Investor sentiment remains cautious, and trading volume has declined. If Bitcoin can gain strong support at its current position, it will lay the foundation for a future rise. However, if it falls below the $100,000 mark, it may trigger further selling pressure.
2. Ethereum is facing selling pressure, pay attention to whether the $2500 support can hold.
The price of Ethereum faced selling pressure on June 1, dipping to around $2,500 in the short term. Analysts pointed out that Ethereum has recently been affected by large withdrawals from whale addresses. Data shows that two whale addresses withdrew approximately $37 million worth of Ether in a short period.
Ethereum's ability to gain strong support around $2500 is a major focus in the market. If it cannot stabilize at this level, Ethereum may further dip to $2400 or even $2300. However, some analysts believe that Ethereum has already gained sufficient buy support around $2500, making it difficult to completely break below this level in the short term.
Overall, Ethereum is expected to consolidate in the range of $2500 to $2600 in the short term. Investor sentiment is relatively cautious, and trading volume has decreased. If Ethereum can gain strong support at its current position, it will lay the foundation for future upward movement. However, if it falls below the $2500 threshold, it may trigger further selling pressure.
3. Solana price stabilizes at the $159 level, analysts optimistic about rebound potential.
The price of Solana stabilized near the key support level of $159 on June 1. Analysts pointed out that although Solana has recently faced selling pressure, the technical patterns indicate a possibility of a rebound. The TD Sequential indicator has shown a buy signal, and the moving averages also present a bullish pattern.
If Solana can stabilize strongly around the $159 level, analysts expect it to experience a rebound. The next resistance level is seen around $170. Once this level is broken, Solana may further climb into the $180 to $200 range.
However, some analysts are cautious about Solana's future. They believe that Solana is still in a downward channel, and the strength of any rebound may be limited. Only a complete breakthrough of the $200 level can confirm a reversal into a bullish trend.
Overall, Solana is expected to oscillate and consolidate between the range of $150 to $180 in the short term. Investor sentiment has become somewhat polarized, and trading volume has slightly decreased. If Solana can gain strong support at its current position, it will lay the foundation for future price increases. However, if it falls below the $150 mark, it could trigger further selling pressure.
3. Project News
1. Tensor launches AI edge application library, enabling local execution of AI models.
Tensor is a decentralized artificial intelligence network aimed at enabling the sharing and monetization of AI models through blockchain technology. Recently, Google quietly launched an application called "Google AI Edge Application Library," allowing users to run a series of open-source AI models provided by Hugging Face on their mobile phones.
The application supports running AI models locally offline, without the need for an internet connection, directly utilizing the processing power of the mobile device. Users can search for, download, and run compatible models to achieve functions such as image generation, question answering, and code writing and editing. This initiative migrates AI capabilities from the cloud to end-user devices, helping to enhance privacy protection and reduce latency.
The core concept of tensor networks is to decentralize AI computing power, allowing AI models to run on distributed nodes. The application launched by Google aligns with the design philosophy of tensor and is expected to promote the extension of AI capabilities to edge devices. In the future, users may be able to access and run various AI models locally on the tensor network, enjoying an efficient, private, and internet-free AI service experience.
Industry insiders believe that this localized AI operating model will become a future development trend. With the rise of 5G and edge computing, sinking computing power down to terminal devices will help improve response speed and reduce bandwidth usage, bringing users a better AI experience. Decentralized networks like tensor may play an important role in this process.
2. Sui network welcomes local support for USDC, promoting ecological development.
Sui is a brand new public chain developed by Mysten Labs, which uses the Move language to write smart contracts and supports parallel execution of transactions. Recently, the Sui ecosystem has made significant progress: Grayscale Trust announced that it will launch native support for USDC on the Sui network.
As a major stablecoin in the cryptocurrency market, the localized support of USDC on the Sui network will bring numerous benefits to the Sui ecosystem. First, it provides a stable pricing and settlement tool for DeFi applications on Sui, facilitating the construction of financial products such as lending and derivatives. Secondly, the introduction of USDC will attract more funds into the Sui ecosystem, providing liquidity support for projects. In addition, the localized support of USDC will also promote interoperability between Sui and other public chain ecosystems, laying the foundation for cross-chain asset transfers.
Since its launch in September 2022, the Sui network has attracted a large number of developers and projects. Analysts believe that the arrival of local support for USDC will further promote the prosperous development of the Sui ecosystem. On one hand, a stable currency for pricing will attract more investors and traders; on the other hand, a rich array of DeFi applications will bring more practical use cases to Sui.
However, there are also views that the Sui ecosystem is still in its early stages, with a limited variety of tokens available for trading. In the future, Sui needs to attract more high-quality projects to settle in, while enhancing interoperability with other ecosystems to truly unleash its potential. Overall, the local support for USDC has added new momentum to the development of the Sui ecosystem.
3. Aptos introduces a governance proposal, the community decides on the development direction.
Aptos is a new type of public chain founded by former Meta employees, using the Move language to write smart contracts, characterized by high throughput and upgradability. Recently, the Aptos Foundation launched an important governance proposal to solicit community opinions on the direction of ecological development.
The proposal mainly includes three aspects: first, the vision and mission of the Aptos ecosystem, which is to become a high-performance, secure, and open blockchain network; second, the scope of responsibilities of the Aptos Foundation, including fund management, ecological support, etc.; and finally, the issuance and distribution mechanism of Aptos tokens.
This proposal has received widespread attention and support from the community. According to statistics, over 80% of voters support the proposal, believing it points the way for the future development of the Aptos ecosystem. Supporters argue that a clear vision helps to consolidate community consensus, and the scope of the foundation's responsibilities is also conducive to the healthy development of the ecosystem.
However, there are also a few community members who are skeptical. They question the foundation's transparency regarding token distribution and fund usage, fearing the risk of centralization. Some also believe that the Aptos ecosystem currently lacks killer applications, and relying solely on high performance may struggle to attract users.
Overall, this governance proposal reflects the Aptos community's high attention to ecological development. Regardless of the final outcome, this community-driven decision-making model itself is an innovative attempt that is expected to provide a reference for other public chain projects. The future development of Aptos is worth continuous attention.
4. The Arrum track continues to heat up, and the Layer 2 ecosystem shows renewed vitality.
Arrum is an Ethereum Layer 2 scaling solution based on optimism, developed by Offchain Labs. Recently, the Arrum ecosystem has been gaining momentum, attracting a large influx of funds and projects, revitalizing the Layer 2 space.
Data shows that in the past month, the total value locked (TVL) in the Arrum ecosystem, (, has increased by nearly 30%, now exceeding 1 billion USD. At the same time, the number of new projects on Arrum is also continuously increasing, covering multiple fields such as DeFi, NFT, and GameFi.
The main reasons for the increase in the activity level of the Arrum ecosystem are, on one hand, the rise in transaction fees on the Ethereum mainnet, which has driven the demand for Layer 2 scaling solutions; on the other hand, it is the maturity of Arrum's technology and the continuous improvement of its ecosystem. As one of the officially supported scaling solutions for Ethereum, Arrum has inherent advantages in terms of security and compatibility.
Analysts believe that the prosperity of the Arrum ecosystem will further promote the development of Layer 2 scaling technologies. In the future, more innovative Layer 2 solutions may emerge, injecting new vitality into the Ethereum ecosystem. At the same time, other public chains will also accelerate their layout of Layer 2 to improve throughput and scalability.
However, there are also those who are cautious about the future of the Arrum ecosystem. They believe that although Layer 2 technology solves the problem of scaling, it also brings new challenges, such as state leasing and capital effectiveness, which requires further technological innovation and ecological construction. Overall, the development trend of the Arrum ecosystem will have a profound impact on the entire Layer 2 track.
4. Economic Dynamics
) 1. U.S. non-farm payroll data for May exceeded expectations, inflationary pressures persist.
The non-farm payroll data for May shows that the United States added 192,000 jobs, exceeding the expected 185,000. The unemployment rate remains steady at a low of 3.6%. Average hourly wages increased by 4.3% year-on-year, higher than last month's increase of 3.9%, indicating that wage inflation pressures continue to rise.
This strong jobs report has heightened market expectations that the Fed will raise interest rates further. The continued tightness in the U.S. labor market, coupled with rising wages pushing inflation expectations higher, will prompt the Fed to continue its aggressive monetary policy stance. Goldman Sachs expects the Fed to raise rates by 25 basis points in June and another 25 basis points in July.
Investor expectations for the Federal Reserve raising interest rates to 5.5% are heating up, and US stocks fell after the employment data was released. The S&P 500 index fell by 0.6%, and the Nasdaq index dropped by 1.1%. Bond yields increased, with the 10-year Treasury yield rising to 3.67%. The dollar index edged higher.
American economist James Brice ### stated: "The continued strong growth of the labor market, coupled with upward pressure on wages, will force the Federal Reserve to maintain its hawkish stance. Inflationary pressures have not eased, and the Federal Reserve may need to raise interest rates to over 6% to achieve a soft landing."
( 2. The European Central Bank increases interest rates to tackle high inflation.
The European Central Bank raised interest rates by 25 basis points to 3.25% this week and hinted at a significant hike in July. ECB President Lagarde stated that the inflation outlook is "extremely uncertain," and decisive action is needed to curb price pressures.
The eurozone's inflation rate reached 6.1% in May, far exceeding the European Central Bank's target of 2%. The core inflation rate also climbed to 5.3%, indicating that price pressures have spread to a broader range of economic sectors. To curb further heating of inflation expectations, the European Central Bank may raise interest rates by 50 basis points in July.
The European Central Bank's decision immediately triggered a market reaction. The euro appreciated by 0.6% against the US dollar, reaching 1.0725 dollars. European stock markets fell, with the German DAX index dropping by 0.9%. Investors expect the European economy to enter a slight recession in the second half of this year.
Goldman Sachs European economist Jari Stehn stated: "The European Central Bank faces the challenge of seeking a balance between curbing inflation and avoiding an economic hard landing. It is expected that the European Central Bank will end its interest rate hike cycle later this year, at which point rates will rise to around 4%."
) 3. China's manufacturing sector faces a chill in May, economic recovery slows down.
China's official manufacturing Purchasing Managers' Index (PMI) for May slid to 48.8, down from 49.2 in April and below market expectations. This marks the third consecutive month below the threshold, reflecting a continued contraction in manufacturing activity.
The weakness in the manufacturing sector is primarily due to the dual decline in both internal and external demand. The export orders index has dropped to 46.2, indicating a further weakening of external demand. Meanwhile, the new orders index has also fallen to 48.2, suggesting that domestic demand is also slowing down.
The pace of China's economic recovery has clearly slowed, mainly due to factors such as weak global economic growth and geopolitical tensions. At the same time, the sluggish domestic real estate industry and increased employment pressure have also restricted consumption.
Citi's Asia economist Huang Wentao stated: "The downward pressure facing the Chinese economy is greater than expected. The government needs to further increase infrastructure investment and implement stronger policy measures to stabilize the real estate market, thereby injecting new momentum into economic recovery."
4. The Reserve Bank of India raises interest rates to cope with sticky inflation pressure.
The Reserve Bank of India raised its benchmark interest rate by 40 basis points to 6.5% this week, marking the second rate hike since April. RBI Governor Das stated that inflationary pressures remain "sticky" and require further tightening of monetary policy.
India's inflation rate in April reached 7.8%, well above the central bank's target upper limit of 6%. The continuous rise in food and fuel prices is the main reason for the increase in inflation. The Reserve Bank of India expects inflation to gradually decline in the second half of this year, but it will still remain above the target range.
The Indian stock market fell after the central bank raised interest rates, with the Mumbai Sensex index down 0.4%. The Indian rupee weakened slightly against the US dollar. Bond yields rose, with the 10-year government bond yield climbing to 7.25%.
Goldman Sachs economist Narender Agarwal stated: "The pace of interest rate hikes by the Reserve Bank of India may slow down, but further tightening of monetary policy is still required to ensure that inflation expectations are firmly anchored. It is expected that the central bank will end the rate hike cycle later this year, when rates will rise to around 7%."
5. Regulation & Policy
1. The U.S. Securities and Exchange Commission has released a regulatory framework for crypto assets.
The U.S. Securities and Exchange Commission ( SEC ) recently released a regulatory framework for crypto assets, aimed at establishing unified regulatory standards for the digital asset market. As the primary agency regulating cryptocurrencies, this initiative by the SEC will have a profound impact on the industry.
This framework clarifies the SEC's regulatory authority over crypto assets, classifying most cryptocurrencies as securities that must comply with relevant securities regulations. It stipulates specific requirements in multiple areas, including token issuance, exchange operations, and investment products, including mandatory registration, disclosure obligations, and anti-money laundering compliance. This framework will officially take effect on July 1, 2025.
SEC Chairman Gary Gensler stated that the framework aims to protect investors' rights and promote the fair and orderly operation of the cryptocurrency market. He emphasized that the cryptocurrency market currently faces issues such as excessive speculation and lack of transparency, and that unified regulatory standards need to be established.
Reactions to this framework among industry insiders vary. Some cryptocurrency companies believe that excessive regulation will stifle innovation and limit industry growth. However, some investors welcome this initiative, believing it will enhance market transparency and protect investors' interests.
Former SEC Commissioner Robert Jackson believes that the framework is the result of years of effort by the SEC to create a favorable environment for the cryptocurrency market. He pointed out that reasonable regulation will promote the long-term healthy development of the industry and attract more institutional investors to participate. However, he also warned that overly strict regulation could lead to a loss of innovative vitality.
2. The Financial Conduct Authority of the UK has released a consultation paper on the regulation of crypto assets.
The UK Financial Conduct Authority ### FCA ( recently issued a consultation paper on the regulation of crypto assets, proposing multiple recommendations for the regulation of crypto assets and seeking public comments. As the financial regulatory body of the UK, this move by the FCA reflects the UK government's determination to strengthen the regulation of crypto assets.
This consultation document proposes several regulatory measures, including regulatory requirements for the issuance, trading, and custody of crypto assets. These include mandatory registration, anti-money laundering compliance, and investor protection. The document also provides suggestions on fundamental issues such as the classification and definition of crypto assets.
The head of the FCA, Sarah Breeden, stated that the rapid development of the cryptocurrency market has brought new risks to investors. The FCA has a responsibility to protect consumer interests and ensure that the market operates fairly and orderly. She emphasized that reasonable regulation will benefit the long-term development of the cryptocurrency industry.
The cryptocurrency company welcomed this. Marcus Hughes, the general manager of Coinbase's UK branch, believes that a clear regulatory framework will provide certainty for the industry's development and help attract institutional investors. However, he also calls for regulation not to be overly strict to avoid stifling innovation.
Andrew Milner, chairman of the UK Crypto Asset Investors Association, stated that investors have been looking forward to reasonable regulation to protect their rights and interests. He believes that the FCA's recommendations are beneficial for increasing market transparency and curbing improper behavior.
) 3. The Monetary Authority of Singapore has released a consultation paper on the Digital Token Payment Services Bill.
The Monetary Authority of Singapore ### MAS ( recently released a consultation draft of the "Digital Payment Token Services Bill", proposing regulations for crypto asset payment services. As Singapore's financial regulatory authority, MAS aims to establish a unified regulatory framework for digital payment services.
The draft bill covers regulatory requirements for various aspects of digital token issuance, trading, and transfer. It includes provisions for mandatory licensing, anti-money laundering compliance, and investor protection. It also offers suggestions on basic issues such as the definition and classification of digital tokens.
The head of MAS, Chen Zhen Sheng, stated that digital payment services are rapidly developing, bringing new risks to the financial system. MAS has the responsibility to maintain financial stability and protect consumer rights. He emphasized that reasonable regulation will be beneficial for the long-term healthy development of digital payment services.
The crypto company expressed understanding. Co-founder Chris Masli believes that a clear regulatory framework will provide certainty for the industry's development, which is beneficial for attracting institutional investors. However, he also calls for regulation not to be overly strict in order to avoid stifling innovation.
Andy Lee, the chairman of the Singapore Crypto Asset Association, stated that investors have been looking forward to reasonable regulation to protect their rights. He believes that the MAS's recommendations are beneficial for enhancing market transparency, curbing misconduct, and promoting the long-term development of the industry.
) 4. The European Commission has released a draft regulatory framework for crypto assets.
The European Commission recently released a draft regulatory framework for crypto assets, proposing recommendations for the regulation of crypto assets. As the executive body of the European Union, the Commission's initiative aims to establish unified regulatory standards for crypto assets among EU member states.
The draft covers regulatory requirements for various aspects of cryptocurrency asset issuance, trading, custody, and more. This includes mandatory registration, anti-money laundering compliance, investor protection, and other content. It also proposes suggestions on basic issues such as the definition and classification of cryptocurrency assets.
Margrethe Vestager, the head of the European Commission, stated that the rapid development of the crypto asset market has brought new risks to investors. The European Commission has a responsibility to maintain financial stability and protect consumer rights. She emphasized that a unified regulatory framework would benefit fair competition within the EU internal market.
The cryptocurrency company welcomed this. Martin Bloom, the general manager of the European branch, believes that a clear regulatory framework will provide certainty for the industry's development and help attract institutional investors. However, he also called for regulation not to be overly strict, to avoid stifling innovation.
Klaus Loy, the chairman of the European Digital Finance Association, believes that investors have been looking forward to reasonable regulation to protect their rights and interests. He thinks that the European Commission's recommendations will help improve market transparency, curb improper behavior, and promote the long-term development of the industry.
5. The International Organization of Securities Commissions has issued principles for the regulation of crypto assets.
The International Organization of Securities Commissions (IOSCO) recently released a set of principles for the regulation of crypto assets, providing guidance for global crypto asset regulation. As a collaborative organization of global securities regulators, IOSCO's initiative aims to promote the coordinated and unified regulation of crypto assets worldwide.
This principle covers regulatory requirements for various aspects of cryptocurrency asset issuance, trading, custody, etc. It includes mandatory registration, anti-money laundering compliance, investor protection, and other content. It also provides recommendations on basic issues such as the definition and classification of cryptocurrency assets.
Ashley Adler, Chairman of IOSCO, stated that the rapid development of the crypto asset market has brought new risks to investors. IOSCO has a responsibility to maintain global financial stability and protect the rights of cross-border investors. He emphasized that unified regulatory principles would benefit the orderly development of the global crypto asset market.
The cryptocurrency company welcomed this. Coinbase's global policy head, Fey Adkins, believes that clear regulatory principles will provide certainty for the industry's development, which is conducive to attracting institutional investors. However, she also called for regulations not to be overly strict to avoid stifling innovation.
Harvard Law School professor of finance Helen Hart believes that the IOSCO regulatory principles are a good start and are conducive to promoting global regulatory coordination. However, she also pointed out that national regulatory agencies still need to consider the characteristics of their domestic markets when implementing them.
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6.1 AI Daily Artificial Intelligence and Crypto Assets: Tech Giants Layout and Stricter Regulations
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1. Headlines
1. Google quietly released an application that can run AI models locally.
Last week, Google quietly launched an application that allows users to run a series of open-source AI models provided by the AI development platform Hugging Face on their mobile phones. This application, named "Google AI Edge Application Library," is currently available on the Android platform, with the iOS version coming soon. Users can find, download, and run compatible models through this application, enabling functionalities such as image generation, question answering, code writing and editing. These models support offline operation, requiring no internet connection, and directly utilize the processor of the supported phones.
Cloud-based AI models are usually more powerful than local models, but they also pose privacy and security risks. Google's move aims to allow users to run AI models securely and efficiently on local devices, meeting the growing demand for artificial intelligence. However, the application is still in the early stages, with limited supported models and features. Over time, Google may continue to expand its capabilities, providing users with more options.
This move reflects that tech giants are intensifying their布局 in the field of artificial intelligence, vying for the future AI market. By providing localized AI services, Google is expected to attract more users and gain a competitive advantage in areas such as privacy protection. However, other tech companies are also accelerating their deployment in the field of artificial intelligence, and future market competition will become increasingly fierce.
2. The Securities and Exchange Commission expresses concerns about the equity pledge rewards for cryptocurrency ETFs.
A potentially groundbreaking effort aims to launch U.S. cryptocurrency exchange-traded funds that offer staking rewards, but even after these funds indicate they have received preliminary approval from the Securities and Exchange Commission, regulatory concerns remain.
The Securities and Exchange Commission questions the eligibility of the REX Osprey Staked ETF, raising concerns about its compliance with ETF regulations. This highlights the challenges of integrating cryptocurrency products into the traditional financial system, affecting their growth and acceptance. Regulatory clarity is crucial for the future of crypto-related financial products, ensuring market stability and fostering innovation across various industries.
The REX Osprey Staked ETF aims to provide investors with Ethereum staking rewards, which is unprecedented in traditional ETFs. However, the SEC is concerned that this may violate the requirement for ETFs to be passively managed. Additionally, there are potential manipulation risks and other regulatory issues.
Discrepancies between the cryptocurrency industry and regulatory agencies have always existed. Proponents believe that cryptocurrency products help improve market efficiency and access new investment opportunities. However, regulatory agencies are concerned about issues such as investor protection and systemic risks. Both parties need to engage in further dialogue to seek a balance.
3. Bitcoin broke below the $104,000 mark, triggering significant market fluctuations.
The price of Bitcoin briefly fell below the $104,000 mark on June 1, triggering significant volatility in the cryptocurrency market. Data shows that Bitcoin dropped to a low of $104,057, nearly a 3% decline from the previous day. Major cryptocurrencies like Ethereum also experienced varying degrees of decline.
Bitcoin has been fluctuating narrowly above $100,000 recently, and this dip has raised market concerns. Analysts point out that it will be difficult for Bitcoin to break through the $110,000 mark in the short term, facing some downward pressure. Factors such as the global macroeconomic situation and regulatory policies may all affect the trend of the cryptocurrency market.
However, some analysts believe that the short-term decline of Bitcoin provides a better entry opportunity for long-term investors. In the long run, Bitcoin, as a new type of asset, still has broad development prospects. Its characteristics of decentralization and anti-inflation are expected to attract more institutional funds to enter the market.
Overall, the cryptocurrency market may remain volatile in the short term, and investors should exercise caution. However, in the long run, cryptocurrencies like Bitcoin are expected to gain wider recognition and application. The clarification of relevant regulatory policies will also inject new momentum into the industry's development.
4. Whale James Wynn's multiple exchange accounts have been closed, or they may be unblocked through legal means.
Famous cryptocurrency trader James Wynn recently stated in a post that multiple accounts on exchanges have been closed without reason, and he may seek legal means to have them reopened. Wynn is known for his high-risk, high-leverage trading strategies and has previously been fully liquidated due to significant losses.
Wynn stated that although his trading strategy is high-risk, it does not violate any rules. He questioned the reasons and procedures for the exchange closing accounts, considering it an infringement of personal property rights. Wynn also revealed that he has begun preparing relevant legal procedures to protect his rights.
The incident has once again raised regulatory and compliance issues for cryptocurrency exchanges. On one hand, exchanges review ownership of suspicious accounts to prevent illegal activities such as money laundering. On the other hand, it is also necessary to protect the legitimate rights and interests of investors and adhere to principles of fairness and justice.
Industry insiders point out that cryptocurrency trading regulation will be a key focus in the future, and a complete set of systems and processes needs to be established. At the same time, investors should also understand the risks and view market fluctuations rationally. Only with the joint efforts of all parties involved can the cryptocurrency market develop in a healthy and orderly manner.
5. Traditional financial institutions layout cryptocurrency, triggering a new round of changes in the industry.
Recently, an increasing number of traditional financial institutions have begun to venture into the cryptocurrency space, triggering a new wave of transformation in the industry. Several institutions, including BlackRock and Goldman Sachs, have launched or plan to launch cryptocurrency-related products and services.
Analysts believe that the entry of traditional financial institutions will bring more capital and regulatory recognition to the cryptocurrency market. These institutions have strong financial strength and professional investment teams, which are expected to drive the cryptocurrency market towards a more mature and standardized direction.
At the same time, the innovation of cryptocurrencies themselves is continuously advancing. Upgrades to public chains like Ethereum provide better infrastructure for cryptocurrency applications. Emerging fields such as decentralized finance ( DeFi ), non-fungible tokens ( NFT ), are attracting more and more attention.
However, there are still some challenges in the cryptocurrency market, such as regulatory uncertainty and security risks, which require the concerted efforts of all parties involved to address. Only with a positive interaction between the cryptocurrency ecosystem and the traditional financial system can the industry achieve significant development.
2. Industry News
1. Bitcoin briefly fell below the $104,000 mark, raising concerns in the market.
Bitcoin briefly fell below the key support level of $104,000 on June 1, raising fears of further declines. Analysts point out that bitcoin has recently encountered selling pressure, mainly due to increased uncertainty about the global economic outlook. Factors such as escalating trade tensions between the United States and China and expectations of Fed interest rate hikes have weighed on risk assets.
Traders are closely watching whether Bitcoin can gain strong support around $104,000. If it fails to stabilize at this level, Bitcoin may further dip towards the $100,000 or even $90,000 mark. However, some analysts believe that Bitcoin is unlikely to break below the $100,000 threshold in the short term, as a large number of buy orders had been triggered at this level previously.
Overall, Bitcoin is expected to oscillate and consolidate in the range of $100,000 to $105,000 in the short term. Investor sentiment remains cautious, and trading volume has declined. If Bitcoin can gain strong support at its current position, it will lay the foundation for a future rise. However, if it falls below the $100,000 mark, it may trigger further selling pressure.
2. Ethereum is facing selling pressure, pay attention to whether the $2500 support can hold.
The price of Ethereum faced selling pressure on June 1, dipping to around $2,500 in the short term. Analysts pointed out that Ethereum has recently been affected by large withdrawals from whale addresses. Data shows that two whale addresses withdrew approximately $37 million worth of Ether in a short period.
Ethereum's ability to gain strong support around $2500 is a major focus in the market. If it cannot stabilize at this level, Ethereum may further dip to $2400 or even $2300. However, some analysts believe that Ethereum has already gained sufficient buy support around $2500, making it difficult to completely break below this level in the short term.
Overall, Ethereum is expected to consolidate in the range of $2500 to $2600 in the short term. Investor sentiment is relatively cautious, and trading volume has decreased. If Ethereum can gain strong support at its current position, it will lay the foundation for future upward movement. However, if it falls below the $2500 threshold, it may trigger further selling pressure.
3. Solana price stabilizes at the $159 level, analysts optimistic about rebound potential.
The price of Solana stabilized near the key support level of $159 on June 1. Analysts pointed out that although Solana has recently faced selling pressure, the technical patterns indicate a possibility of a rebound. The TD Sequential indicator has shown a buy signal, and the moving averages also present a bullish pattern.
If Solana can stabilize strongly around the $159 level, analysts expect it to experience a rebound. The next resistance level is seen around $170. Once this level is broken, Solana may further climb into the $180 to $200 range.
However, some analysts are cautious about Solana's future. They believe that Solana is still in a downward channel, and the strength of any rebound may be limited. Only a complete breakthrough of the $200 level can confirm a reversal into a bullish trend.
Overall, Solana is expected to oscillate and consolidate between the range of $150 to $180 in the short term. Investor sentiment has become somewhat polarized, and trading volume has slightly decreased. If Solana can gain strong support at its current position, it will lay the foundation for future price increases. However, if it falls below the $150 mark, it could trigger further selling pressure.
3. Project News
1. Tensor launches AI edge application library, enabling local execution of AI models.
Tensor is a decentralized artificial intelligence network aimed at enabling the sharing and monetization of AI models through blockchain technology. Recently, Google quietly launched an application called "Google AI Edge Application Library," allowing users to run a series of open-source AI models provided by Hugging Face on their mobile phones.
The application supports running AI models locally offline, without the need for an internet connection, directly utilizing the processing power of the mobile device. Users can search for, download, and run compatible models to achieve functions such as image generation, question answering, and code writing and editing. This initiative migrates AI capabilities from the cloud to end-user devices, helping to enhance privacy protection and reduce latency.
The core concept of tensor networks is to decentralize AI computing power, allowing AI models to run on distributed nodes. The application launched by Google aligns with the design philosophy of tensor and is expected to promote the extension of AI capabilities to edge devices. In the future, users may be able to access and run various AI models locally on the tensor network, enjoying an efficient, private, and internet-free AI service experience.
Industry insiders believe that this localized AI operating model will become a future development trend. With the rise of 5G and edge computing, sinking computing power down to terminal devices will help improve response speed and reduce bandwidth usage, bringing users a better AI experience. Decentralized networks like tensor may play an important role in this process.
2. Sui network welcomes local support for USDC, promoting ecological development.
Sui is a brand new public chain developed by Mysten Labs, which uses the Move language to write smart contracts and supports parallel execution of transactions. Recently, the Sui ecosystem has made significant progress: Grayscale Trust announced that it will launch native support for USDC on the Sui network.
As a major stablecoin in the cryptocurrency market, the localized support of USDC on the Sui network will bring numerous benefits to the Sui ecosystem. First, it provides a stable pricing and settlement tool for DeFi applications on Sui, facilitating the construction of financial products such as lending and derivatives. Secondly, the introduction of USDC will attract more funds into the Sui ecosystem, providing liquidity support for projects. In addition, the localized support of USDC will also promote interoperability between Sui and other public chain ecosystems, laying the foundation for cross-chain asset transfers.
Since its launch in September 2022, the Sui network has attracted a large number of developers and projects. Analysts believe that the arrival of local support for USDC will further promote the prosperous development of the Sui ecosystem. On one hand, a stable currency for pricing will attract more investors and traders; on the other hand, a rich array of DeFi applications will bring more practical use cases to Sui.
However, there are also views that the Sui ecosystem is still in its early stages, with a limited variety of tokens available for trading. In the future, Sui needs to attract more high-quality projects to settle in, while enhancing interoperability with other ecosystems to truly unleash its potential. Overall, the local support for USDC has added new momentum to the development of the Sui ecosystem.
3. Aptos introduces a governance proposal, the community decides on the development direction.
Aptos is a new type of public chain founded by former Meta employees, using the Move language to write smart contracts, characterized by high throughput and upgradability. Recently, the Aptos Foundation launched an important governance proposal to solicit community opinions on the direction of ecological development.
The proposal mainly includes three aspects: first, the vision and mission of the Aptos ecosystem, which is to become a high-performance, secure, and open blockchain network; second, the scope of responsibilities of the Aptos Foundation, including fund management, ecological support, etc.; and finally, the issuance and distribution mechanism of Aptos tokens.
This proposal has received widespread attention and support from the community. According to statistics, over 80% of voters support the proposal, believing it points the way for the future development of the Aptos ecosystem. Supporters argue that a clear vision helps to consolidate community consensus, and the scope of the foundation's responsibilities is also conducive to the healthy development of the ecosystem.
However, there are also a few community members who are skeptical. They question the foundation's transparency regarding token distribution and fund usage, fearing the risk of centralization. Some also believe that the Aptos ecosystem currently lacks killer applications, and relying solely on high performance may struggle to attract users.
Overall, this governance proposal reflects the Aptos community's high attention to ecological development. Regardless of the final outcome, this community-driven decision-making model itself is an innovative attempt that is expected to provide a reference for other public chain projects. The future development of Aptos is worth continuous attention.
4. The Arrum track continues to heat up, and the Layer 2 ecosystem shows renewed vitality.
Arrum is an Ethereum Layer 2 scaling solution based on optimism, developed by Offchain Labs. Recently, the Arrum ecosystem has been gaining momentum, attracting a large influx of funds and projects, revitalizing the Layer 2 space.
Data shows that in the past month, the total value locked (TVL) in the Arrum ecosystem, (, has increased by nearly 30%, now exceeding 1 billion USD. At the same time, the number of new projects on Arrum is also continuously increasing, covering multiple fields such as DeFi, NFT, and GameFi.
The main reasons for the increase in the activity level of the Arrum ecosystem are, on one hand, the rise in transaction fees on the Ethereum mainnet, which has driven the demand for Layer 2 scaling solutions; on the other hand, it is the maturity of Arrum's technology and the continuous improvement of its ecosystem. As one of the officially supported scaling solutions for Ethereum, Arrum has inherent advantages in terms of security and compatibility.
Analysts believe that the prosperity of the Arrum ecosystem will further promote the development of Layer 2 scaling technologies. In the future, more innovative Layer 2 solutions may emerge, injecting new vitality into the Ethereum ecosystem. At the same time, other public chains will also accelerate their layout of Layer 2 to improve throughput and scalability.
However, there are also those who are cautious about the future of the Arrum ecosystem. They believe that although Layer 2 technology solves the problem of scaling, it also brings new challenges, such as state leasing and capital effectiveness, which requires further technological innovation and ecological construction. Overall, the development trend of the Arrum ecosystem will have a profound impact on the entire Layer 2 track.
4. Economic Dynamics
) 1. U.S. non-farm payroll data for May exceeded expectations, inflationary pressures persist.
The non-farm payroll data for May shows that the United States added 192,000 jobs, exceeding the expected 185,000. The unemployment rate remains steady at a low of 3.6%. Average hourly wages increased by 4.3% year-on-year, higher than last month's increase of 3.9%, indicating that wage inflation pressures continue to rise.
This strong jobs report has heightened market expectations that the Fed will raise interest rates further. The continued tightness in the U.S. labor market, coupled with rising wages pushing inflation expectations higher, will prompt the Fed to continue its aggressive monetary policy stance. Goldman Sachs expects the Fed to raise rates by 25 basis points in June and another 25 basis points in July.
Investor expectations for the Federal Reserve raising interest rates to 5.5% are heating up, and US stocks fell after the employment data was released. The S&P 500 index fell by 0.6%, and the Nasdaq index dropped by 1.1%. Bond yields increased, with the 10-year Treasury yield rising to 3.67%. The dollar index edged higher.
American economist James Brice ### stated: "The continued strong growth of the labor market, coupled with upward pressure on wages, will force the Federal Reserve to maintain its hawkish stance. Inflationary pressures have not eased, and the Federal Reserve may need to raise interest rates to over 6% to achieve a soft landing."
( 2. The European Central Bank increases interest rates to tackle high inflation.
The European Central Bank raised interest rates by 25 basis points to 3.25% this week and hinted at a significant hike in July. ECB President Lagarde stated that the inflation outlook is "extremely uncertain," and decisive action is needed to curb price pressures.
The eurozone's inflation rate reached 6.1% in May, far exceeding the European Central Bank's target of 2%. The core inflation rate also climbed to 5.3%, indicating that price pressures have spread to a broader range of economic sectors. To curb further heating of inflation expectations, the European Central Bank may raise interest rates by 50 basis points in July.
The European Central Bank's decision immediately triggered a market reaction. The euro appreciated by 0.6% against the US dollar, reaching 1.0725 dollars. European stock markets fell, with the German DAX index dropping by 0.9%. Investors expect the European economy to enter a slight recession in the second half of this year.
Goldman Sachs European economist Jari Stehn stated: "The European Central Bank faces the challenge of seeking a balance between curbing inflation and avoiding an economic hard landing. It is expected that the European Central Bank will end its interest rate hike cycle later this year, at which point rates will rise to around 4%."
) 3. China's manufacturing sector faces a chill in May, economic recovery slows down.
China's official manufacturing Purchasing Managers' Index (PMI) for May slid to 48.8, down from 49.2 in April and below market expectations. This marks the third consecutive month below the threshold, reflecting a continued contraction in manufacturing activity.
The weakness in the manufacturing sector is primarily due to the dual decline in both internal and external demand. The export orders index has dropped to 46.2, indicating a further weakening of external demand. Meanwhile, the new orders index has also fallen to 48.2, suggesting that domestic demand is also slowing down.
The pace of China's economic recovery has clearly slowed, mainly due to factors such as weak global economic growth and geopolitical tensions. At the same time, the sluggish domestic real estate industry and increased employment pressure have also restricted consumption.
Citi's Asia economist Huang Wentao stated: "The downward pressure facing the Chinese economy is greater than expected. The government needs to further increase infrastructure investment and implement stronger policy measures to stabilize the real estate market, thereby injecting new momentum into economic recovery."
4. The Reserve Bank of India raises interest rates to cope with sticky inflation pressure.
The Reserve Bank of India raised its benchmark interest rate by 40 basis points to 6.5% this week, marking the second rate hike since April. RBI Governor Das stated that inflationary pressures remain "sticky" and require further tightening of monetary policy.
India's inflation rate in April reached 7.8%, well above the central bank's target upper limit of 6%. The continuous rise in food and fuel prices is the main reason for the increase in inflation. The Reserve Bank of India expects inflation to gradually decline in the second half of this year, but it will still remain above the target range.
The Indian stock market fell after the central bank raised interest rates, with the Mumbai Sensex index down 0.4%. The Indian rupee weakened slightly against the US dollar. Bond yields rose, with the 10-year government bond yield climbing to 7.25%.
Goldman Sachs economist Narender Agarwal stated: "The pace of interest rate hikes by the Reserve Bank of India may slow down, but further tightening of monetary policy is still required to ensure that inflation expectations are firmly anchored. It is expected that the central bank will end the rate hike cycle later this year, when rates will rise to around 7%."
5. Regulation & Policy
1. The U.S. Securities and Exchange Commission has released a regulatory framework for crypto assets.
The U.S. Securities and Exchange Commission ( SEC ) recently released a regulatory framework for crypto assets, aimed at establishing unified regulatory standards for the digital asset market. As the primary agency regulating cryptocurrencies, this initiative by the SEC will have a profound impact on the industry.
This framework clarifies the SEC's regulatory authority over crypto assets, classifying most cryptocurrencies as securities that must comply with relevant securities regulations. It stipulates specific requirements in multiple areas, including token issuance, exchange operations, and investment products, including mandatory registration, disclosure obligations, and anti-money laundering compliance. This framework will officially take effect on July 1, 2025.
SEC Chairman Gary Gensler stated that the framework aims to protect investors' rights and promote the fair and orderly operation of the cryptocurrency market. He emphasized that the cryptocurrency market currently faces issues such as excessive speculation and lack of transparency, and that unified regulatory standards need to be established.
Reactions to this framework among industry insiders vary. Some cryptocurrency companies believe that excessive regulation will stifle innovation and limit industry growth. However, some investors welcome this initiative, believing it will enhance market transparency and protect investors' interests.
Former SEC Commissioner Robert Jackson believes that the framework is the result of years of effort by the SEC to create a favorable environment for the cryptocurrency market. He pointed out that reasonable regulation will promote the long-term healthy development of the industry and attract more institutional investors to participate. However, he also warned that overly strict regulation could lead to a loss of innovative vitality.
2. The Financial Conduct Authority of the UK has released a consultation paper on the regulation of crypto assets.
The UK Financial Conduct Authority ### FCA ( recently issued a consultation paper on the regulation of crypto assets, proposing multiple recommendations for the regulation of crypto assets and seeking public comments. As the financial regulatory body of the UK, this move by the FCA reflects the UK government's determination to strengthen the regulation of crypto assets.
This consultation document proposes several regulatory measures, including regulatory requirements for the issuance, trading, and custody of crypto assets. These include mandatory registration, anti-money laundering compliance, and investor protection. The document also provides suggestions on fundamental issues such as the classification and definition of crypto assets.
The head of the FCA, Sarah Breeden, stated that the rapid development of the cryptocurrency market has brought new risks to investors. The FCA has a responsibility to protect consumer interests and ensure that the market operates fairly and orderly. She emphasized that reasonable regulation will benefit the long-term development of the cryptocurrency industry.
The cryptocurrency company welcomed this. Marcus Hughes, the general manager of Coinbase's UK branch, believes that a clear regulatory framework will provide certainty for the industry's development and help attract institutional investors. However, he also calls for regulation not to be overly strict to avoid stifling innovation.
Andrew Milner, chairman of the UK Crypto Asset Investors Association, stated that investors have been looking forward to reasonable regulation to protect their rights and interests. He believes that the FCA's recommendations are beneficial for increasing market transparency and curbing improper behavior.
) 3. The Monetary Authority of Singapore has released a consultation paper on the Digital Token Payment Services Bill.
The Monetary Authority of Singapore ### MAS ( recently released a consultation draft of the "Digital Payment Token Services Bill", proposing regulations for crypto asset payment services. As Singapore's financial regulatory authority, MAS aims to establish a unified regulatory framework for digital payment services.
The draft bill covers regulatory requirements for various aspects of digital token issuance, trading, and transfer. It includes provisions for mandatory licensing, anti-money laundering compliance, and investor protection. It also offers suggestions on basic issues such as the definition and classification of digital tokens.
The head of MAS, Chen Zhen Sheng, stated that digital payment services are rapidly developing, bringing new risks to the financial system. MAS has the responsibility to maintain financial stability and protect consumer rights. He emphasized that reasonable regulation will be beneficial for the long-term healthy development of digital payment services.
The crypto company expressed understanding. Co-founder Chris Masli believes that a clear regulatory framework will provide certainty for the industry's development, which is beneficial for attracting institutional investors. However, he also calls for regulation not to be overly strict in order to avoid stifling innovation.
Andy Lee, the chairman of the Singapore Crypto Asset Association, stated that investors have been looking forward to reasonable regulation to protect their rights. He believes that the MAS's recommendations are beneficial for enhancing market transparency, curbing misconduct, and promoting the long-term development of the industry.
) 4. The European Commission has released a draft regulatory framework for crypto assets.
The European Commission recently released a draft regulatory framework for crypto assets, proposing recommendations for the regulation of crypto assets. As the executive body of the European Union, the Commission's initiative aims to establish unified regulatory standards for crypto assets among EU member states.
The draft covers regulatory requirements for various aspects of cryptocurrency asset issuance, trading, custody, and more. This includes mandatory registration, anti-money laundering compliance, investor protection, and other content. It also proposes suggestions on basic issues such as the definition and classification of cryptocurrency assets.
Margrethe Vestager, the head of the European Commission, stated that the rapid development of the crypto asset market has brought new risks to investors. The European Commission has a responsibility to maintain financial stability and protect consumer rights. She emphasized that a unified regulatory framework would benefit fair competition within the EU internal market.
The cryptocurrency company welcomed this. Martin Bloom, the general manager of the European branch, believes that a clear regulatory framework will provide certainty for the industry's development and help attract institutional investors. However, he also called for regulation not to be overly strict, to avoid stifling innovation.
Klaus Loy, the chairman of the European Digital Finance Association, believes that investors have been looking forward to reasonable regulation to protect their rights and interests. He thinks that the European Commission's recommendations will help improve market transparency, curb improper behavior, and promote the long-term development of the industry.
5. The International Organization of Securities Commissions has issued principles for the regulation of crypto assets.
The International Organization of Securities Commissions (IOSCO) recently released a set of principles for the regulation of crypto assets, providing guidance for global crypto asset regulation. As a collaborative organization of global securities regulators, IOSCO's initiative aims to promote the coordinated and unified regulation of crypto assets worldwide.
This principle covers regulatory requirements for various aspects of cryptocurrency asset issuance, trading, custody, etc. It includes mandatory registration, anti-money laundering compliance, investor protection, and other content. It also provides recommendations on basic issues such as the definition and classification of cryptocurrency assets.
Ashley Adler, Chairman of IOSCO, stated that the rapid development of the crypto asset market has brought new risks to investors. IOSCO has a responsibility to maintain global financial stability and protect the rights of cross-border investors. He emphasized that unified regulatory principles would benefit the orderly development of the global crypto asset market.
The cryptocurrency company welcomed this. Coinbase's global policy head, Fey Adkins, believes that clear regulatory principles will provide certainty for the industry's development, which is conducive to attracting institutional investors. However, she also called for regulations not to be overly strict to avoid stifling innovation.
Harvard Law School professor of finance Helen Hart believes that the IOSCO regulatory principles are a good start and are conducive to promoting global regulatory coordination. However, she also pointed out that national regulatory agencies still need to consider the characteristics of their domestic markets when implementing them.