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The four issues currently facing stablecoins

The President of the Hong Kong Monetary Authority, Yu Weilun, emphasized that stablecoins must avoid speculation and financial risks, pointing out that stablecoins performed poorly in currency testing and have KYC loopholes. The implementation of stablecoins faces multiple challenges in technology, regulation, and market, making cooperation and division of labor crucial. Stablecoin licenses in Hong Kong are scarce, with regulatory prudence aimed at reducing speculation and Money Laundering risks, and relevant regulations are being adjusted in response to market feedback.
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Glassnode: Is the Metaverse doomed? On-chain data tells you the answer.

This week, we analyze the cost basis distribution of Metaverse Tokens (CBD) data. Despite the price fall, major investors are steadily accumulating, showing long-term confidence in the project. For example, The Sandbox holders continue to increase their positions, Decentraland investors are buying at low prices, and confidence in Axie Infinity remains strong. On-chain activity indicates that investors view the current price as an undervalued opportunity, suggesting a potential recovery in the future.
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AXS-6.97%
SAND-7.81%
MANA-6.96%
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IELTSvip:
On July 29, 2025, the Hong Kong Monetary Authority ( HKMA ) issued multiple guidelines and explanatory documents regarding the regulatory framework for stablecoin issuers, which will officially come into effect on August 1, 2025. Among them, two sets of guidelines will be published in the gazette on August 1, 2025. • Summary of consultation and the "Regulatory Guidelines for Licensed Stablecoin Issuers"; • Summary of consultation and the "Guidelines for Combating Money Laundering and Terrorist Financing (Applicable to Licensed Stablecoin Issuers)"; • Summary explanation related to the licensing system and application procedures for the "Stablecoin Issuer Licensing System"; • Summary explanation of the "Transitional Provisions for Existing Stablecoin Issuers" #BTCÐ Launchpool收益超3%# #成长值抽奖12期开启# #白宫加密报告发布# .

Alts micro-strategies' stock prices slump 50% Who is paying for the "fake" feast?

Jessy, Golden Finance
The "microstrategy" trend of altcoins will begin in May 2025.
Companies that mimic micro-strategies similar to altcoins like ETH, TRX, SOL, XRP, DOGE, and BNB are springing up like mushrooms after rain.
Unlike the strategy of purchasing Bitcoin through MicroStrategy's single issuance of convertible bonds, the operational pathway is roughly as follows: the stakeholders behind these altcoins buy a shell company on the US stock market and then announce the purchase of a certain token as a reserve. Both the stock price and the token price will experience a surge in the short term.
However, after a brief frenzy in stock prices, these altcoins' micro-strategies have all faced a decline in stock prices. For instance, the price of the Ethereum version of MicroStrategy, Sharplink, reached nearly $80 per share after the announcement, and now the stock price is less than $20 per share. Currently, the largest institution holding Ethereum, Bitmine, has seen its stock price on July 3.
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Hong Kong stablecoin issuer AML/CFT regulatory "three-step"

Background
On July 29, 2025, the Hong Kong Monetary Authority ( HKMA ) released multiple guidelines and explanatory documents regarding the regulatory regime for stablecoin issuers, which will be officially implemented starting August 1, 2025. Two sets of guidelines will be published in the gazette on August 1, 2025.
Summary of the consultation on the "Regulatory Guidelines for Licensed Stablecoin Issuers" and the guidelines themselves;
Summary of the consultation and the guidelines "Guidelines on Combating Money Laundering and Terrorist Financing (Applicable to Licensed Stablecoin Issuers)";
Summary of the Licensing System for Stablecoin Issuers and Application Procedures.
Summary of the Transitional Provisions for Existing Stablecoin Issuers
These documents constitute the core regulatory components for the implementation of the Hong Kong stablecoin system: they include not only the summary notes related to licensing applications and regulatory transitions but also two documents surrounding the AML / CFT( framework.
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A Brief Discussion on Stablecoins and Central Bank Digital Currency

Since the beginning of this year, stablecoins have become the absolute hotspot in the financial industry!
On July 19, U.S. President Trump officially signed the "National Stablecoin Innovation and Regulatory Act (GENIUS Act)" (hereinafter referred to as the "Genius Act"), marking the first formal establishment of a regulatory framework for stablecoins in the United States.
On July 29, the Hong Kong Monetary Authority released a series of documents regarding the regulatory framework for stablecoin issuers, which will take effect on August 1, 2025, providing specific guidelines for the regulation of stablecoin issuers.
Recently, discussions surrounding the regulatory framework for stablecoins and their impact on the international monetary system have intensified. At the same time, driven by both policy and hot topics, the commercialization process of global stablecoins has clearly accelerated.
So, what exactly is a stablecoin? How does it differ from central bank digital currencies (CBDC)? How should it be developed domestically? This article will briefly discuss these questions.
The similarities and differences between fiat stablecoins and central bank digital currencies.
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TAO First Halving: What You Should Know

Author: Lucas Source: X, @OnchainLu Translator: Shan Ouba, Jinse Finance
The crypto world is about to welcome another "halving", but this time the protagonist is not Bitcoin, but Bittensor - a decentralized AI network referred to as "smart Bitcoin". Its first halving event is expected to occur between December 2025 and February 2026.
Similar to Bitcoin, the total supply of TAO is 21 million coins, controlled by periodic halving to manage inflation; however, Bittensor's incentive structure spans multiple subnets, each with its own native token Alpha (denoted as 'α') and independent liquidity mechanisms.
The complexity of this structure makes the "chain reaction" brought about by this halving more difficult to predict.
The problem is not just with the price of TAO.
TAO-6.26%
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MicroStrategy Faces Lawsuit Again: How Do Accounting Standards Cause Big Trouble?

In July 2025, Strategy faced a class action lawsuit for alleged false statements and insufficient information disclosure, accusing it of not adequately disclosing the risks of Bitcoin investments and the impact of changes in accounting standards. This lawsuit reflects the information disclosure and compliance pressures faced by publicly listed companies amid the rapid development of encryption assets.
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BTC-2.43%
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Minutes of the Federal Reserve's Monetary Policy Meeting in July 2025

In a nutshell: no interest rate cut, divergence, hawkish bias, waiting for JH.
Policy Statement
Despite the continued impact of fluctuations in net exports on the data, recent indicators show that economic activity growth has slowed in the first half of this year. The unemployment rate remains low, and the labor market conditions remain solid. Inflation rates are still slightly rising.
(Translator's note: The GDP data before the announcement shows that the PDFP has declined in Q2)
The committee strives to maximize employment and achieve a 2% inflation rate over the long term. The uncertainty surrounding the economic outlook remains high. The committee is concerned about the risks associated with its dual mandate.
To support its objectives, the committee decided to maintain the target range for the federal funds rate at 4.25% to 4.5%. When considering the magnitude and timing of any further adjustments to the federal funds rate target range, the committee will carefully assess future data, the evolving outlook, and the balance of risks. The committee will continue to reduce its holdings of U.S.
TRUMP-5.67%
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