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According to a report titled "Stablecoins: Waiting for Regulation" released by the UK House of Lords Financial Services Regulatory Committee, the global market capitalization of stablecoins has exceeded $310 billion, but the UK pound stablecoin market is still in its infancy, and the construction of the regulatory framework is clearly lagging behind the United States (GENIUS Act) and the European Union (MiCAR).The report criticizes several aspects of the current regulatory proposals from the UK Financial Conduct Authority (FCA) and the Bank of England, focusing on:• The Bank of England's requirement for systemic stablecoin issuers to deposit at least 40% of reserve assets in non-interest-bearing central bank deposits, which the industry believes will severely harm issuers' profitability and the international competitiveness of the UK market;• The proposed holding limits (individual £20,000, corporate £10 million) are considered extremely difficult to implement and may stifle the development of the pound stablecoin market;• The T+1 redemption requirement will impose a significant operational burden on issuers;• The Prudential Regulation Authority (PRA) restrictions on deposit-taking institutions issuing stablecoins under independent brands are deemed overly stringent.The report also acknowledges the liquidity support loan mechanism proposed by the Bank of England, considering it an innovative regulatory measure that surpasses other major jurisdictions. The committee calls on regulatory agencies to strictly adhere to the established timeline, ensuring that the complete regulatory framework comes into effect as scheduled on October 25, 2027, and recommends adopting a principle-based, technology-neutral regulatory approach to achieve a reasonable balance between financial stability and market innovation.

The Zcash Foundation announced the release of the Zebra 4.5.1 version update to fix a consensus-level security vulnerability and strongly recommends that all node operators upgrade immediately.The vulnerability, identified as GHSA-2prc-cj5x-4443, involves a sigop (signature operation count) statistical error in P2SH transactions, which could lead to potential consensus fork risks. This fix corrects the incomplete patch issue from the previous 4.5.0 version, which was just released yesterday.The Zcash development team stated that the problem originated from discrepancies in sigop counting logic across different implementations, which could cause nodes to produce different results when validating transactions, thereby affecting on-chain consensus consistency. The fix was implemented by reverting and adjusting the Rust implementation logic to ensure alignment with the expected behavior of the protocol.The Zcash Foundation emphasizes that there is currently no workaround for this issue, and upgrading to 4.5.1 is the only way to ensure that nodes remain on the correct chain and avoid potential fork risks.

According to BIT analysis, Bitcoin has fallen 16% year-to-date and is entering a historically weak seasonal window for returns. Over the past decade, the average return for Bitcoin in June has only been +0.7%, and summer months typically feature choppy consolidation. However, this year's trend may not fully adhere to historical patterns. May is usually one of the stronger months for Bitcoin, but this year's gains are significantly below the historical average, thus increasing the probability of a seasonal reversal.Meanwhile, several important catalysts are about to materialize, including regulated U.S. crypto perpetual futures products and the NasdaqCME crypto index futures set to launch on June 8. Although seasonal pressures remain, from a tactical perspective, Bitcoin may be nearing a short-term bottom. If these catalysts bring new buying support, Bitcoin is expected to see a rebound.

According to BBX data, the global competition between crypto compliance infrastructure and traditional financial capital entered a heated stage yesterday, with brokerage giants and old money on Wall Street clashing over the advancement of legislation. The core dynamics are as follows:Coinbase receives CFTC 16-page no-action letter authorization: Coinbase Global, Inc. (NASDAQ: $COIN) officially announced that the Commodity Futures Trading Commission (CFTC) has issued a 16-page "no-action letter" to its subsidiary CFM. This authorizes CFM to officially offer perpetual contracts and options for "digital commodities" such as BTC, ETH, SOL, and DOGE to U.S. institutional clients through the foreign exchange Deribit FZE, which it previously acquired for $2.9 billion. The letter also allows clients to directly transfer digital assets and stablecoins to Deribit FZE as collateral.Dimon publicly declares war on the CLARITY Act: Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE: $JPM), publicly expressed strong opposition to the CLARITY Act currently advancing in the Senate during a Fox Business program. Dimon warned that the act allows crypto companies to pay users "yield rewards" in stablecoins, effectively bypassing the capital and compliance standards of traditional banking. He formed a coalition with the American Bankers Association, publicly committing to "fight to the end" against this legislation.

Michael van de Poppe, founder of MN Trading Capital, posted on platform X, stating, "Bitcoin is at a critical price level, and if it cannot hold, it will drop below $65,000." However, he believes that a new low will not occur. In that case, Bitcoin would fall below $61,000, where the 200-day moving average is located. Further declines would be meaningless, as this would not yield good results in any market cycle. However, this structure is different from the decline in February. The reason is that the resistance level in February failed to convert into a support level.Currently, the $71,000 area remains a key support level. Poppe believes that this support must hold to prevent further pullbacks. If it can hold, then the $61,000-$65,000 range will be an excellent buying opportunity for Bitcoin in the coming years. If this support holds, then the second phase target is to break through $76,600. If this price level is breached, a new high is imminent, and a strong altcoin summer rally is likely to be seen.

According to Coindesk, JPMorgan CEO Jamie Dimon has once again harshly criticized Coinbase CEO Brian Armstrong and warned that if lawmakers do not address traditional banks' concerns about stablecoin regulation, the latest version of the Digital Asset Market Clarity Act may ultimately fail. Dimon believes that the bill would allow stablecoin issuers to effectively pay interest on deposits without bank-like protections and predicts that if adopted as is, the bill "will ultimately fail."

According to CoinDesk, during a recent Senate Banking Committee review, substantial progress was made in advancing the Digital Asset Market Clarity Act, referred to as the "CLARITY Act," which passed into the Senate full review stage with a vote of 15 to 9.Several bipartisan lawmakers emphasized the urgent need for the United States to establish a unified regulatory framework covering digital assets to clarify asset classification, trading platform regulation, and market structure rules, thereby providing long-term certainty for the industry. Angela Alsobrooks pointed out from a family perspective that the younger generation shows a natural interest in digital assets, and the regulatory system should strike a balance between "opportunity and protection" to avoid technological development being detached from regulatory constraints. Tim Scott emphasized that legislation should be promoted from the perspective of economic opportunity and the American Dream, while Cynthia Lummis stated that the legislative process has already shown a clear foundation for bipartisan cooperation.Supporters believe that digital assets have become an irreversible trend, with approximately 68 million Americans holding related assets, but a significant amount of trading still occurs on overseas platforms. The U.S. urgently needs to establish a domestic regulatory system to enhance market transparency and investor protection levels.Analysis indicates that the CLARITY Act is seen as a key complement following the stablecoin-related legislation (GENIUS Act). Without supporting rules at the market structure level, the U.S. may lose its leading position in the competition for digital financial infrastructure. As the bill advances to the Senate full stage, there is widespread attention on whether it can achieve final legislation based on bipartisan consensus to establish the core rules of the U.S. digital asset regulatory framework.

The cryptocurrency market was at a critical juncture on Wednesday. After failing to break through $78,000 on Tuesday, Bitcoin's price has fallen below the $76,000 "bear market boundary" defined by Tom Lee, now approaching the support level of $75,000. Ethereum also retreated after reaching $2,150 on Tuesday, falling towards the $2,000 support, and then rebounding around $2,050. AI concept tokens RENDER, FET, and NEAR have given back most of their gains from Tuesday.Market performance diverges significantly from U.S. stocks. The S&P 500 and Nasdaq 100 index futures both hit all-time highs, rising about 0.3%. In the derivatives market, cryptocurrency futures trading volume surged 54% to $201 billion within 24 hours, with liquidation volume skyrocketing by 87%, but this mainly reflects the market's restart after the U.S. holiday. Bitcoin open interest climbed to 740,000, with a negative cumulative trading volume difference over 24 hours, indicating that traders are actively shorting through market orders. Ethereum's open interest reached a historic high of 15.57 million, but the trading volume difference is also negative, suggesting that traders are shorting contracts to bet on deeper declines after the critical technical support trendline was breached. The 30-day implied volatility index for Bitcoin rebounded from a year-to-date low, rising nearly 3% to 37.35%, indicating that the market is beginning to seek protection against potential price declines.

According to Cointelegraph, the Ethereum Foundation has recently faced criticism from the community for selling ETH, unstaking, and having limited public communication. However, blockchain researcher and investor William Mougayar defended it in a post, stating that the outside world has long misunderstood the Foundation's positioning. ETH, the Ethereum network, and the Ethereum Foundation itself are three different aspects: ETH is an asset, Ethereum is a shared computing infrastructure, and the Foundation is a non-profit organization responsible for promoting protocol development, one of its goals even being "to make the founders gradually less important." The Ethereum Foundation is currently on a "subtraction path," strengthening the network by promoting protocol upgrades, funding underlying research, and reducing its own centralized influence.

According to on-chain analyst Ai Yi's monitoring, HYPE has seen a large-scale confrontation between long and short positions, with TOP1 and TOP2 whale positions acting as counterparties, totaling over 60 million USD, as the market enters a critical game phase. Among them:Yujin Loracle holds a 5x leveraged short position of 1.44 million HYPE, valued at approximately 68.43 million USD, with an opening price of about 42.55 USD, currently facing an unrealized loss of about 7.004 million USD.Meanwhile, address 0x082...dca88 holds a 5x leveraged long position of 1.38 million HYPE, valued at approximately 65.37 million USD, with an opening price of about 38.67 USD, currently facing an unrealized gain of about 1.198 million USD.

Greg Cipolaro, research director at financial services firm NYDIG, stated that the most realistic window for the U.S. Senate's cryptocurrency market structure bill to pass is from June to early August. If it cannot be advanced during this period, it may face uncertainty for an even longer time after the midterm elections.Previously, White House cryptocurrency advisor Patrick Witt suggested July 4 as an ideal legislative timeline, but NYDIG believes this target is more of an "optimistic expectation," as it needs to go through multiple hurdles such as committee review, full Senate voting, and House processes. The bill aims to clarify the regulatory framework for cryptocurrency assets in the U.S. and is seen as one of the most critical pieces of legislation this year, but has been delayed multiple times due to disagreements over stablecoin regulation, ethical provisions, and DeFi rules.The Senate Banking Committee has advanced the relevant draft to a full Senate vote, but it still requires at least 60 votes to pass. Analysts point out that if the bill does not pass before the election cycle, changes in Senate control between Republicans and Democrats may further reduce legislative certainty, keeping the industry in a "regulatory gray area." However, once the bill is finally passed and signed into law, it will bring regulatory clarity to the market, especially as Bitcoin is expected to be clearly classified as a commodity, thereby reducing uncertainty for institutional entry.

10x Research released a report stating that since the CPI data was announced on May 13, Bitcoin ETF holders have sold over $1 billion, and market sentiment has plummeted from 87% to 45%, while bond yields continue to rise (30-year yield has reached 5.12%). Inflation has become a focal point again, and cryptocurrencies are feeling the pressure.The report points out that Bitcoin is testing the 30-day moving average, and a confirmed drop below it would indicate a deterioration in momentum. Key levels to watch: $79,125 (short-term bull-bear dividing line) and $76,922 (major support level). Ethereum has triggered a bearish signal. 10x Research indicates that the current pattern is one of "two steps forward, one step back," but the cycle bottom is already in sight.

According to BIT analysis, Circle's stock price surged 16% overnight and is currently approaching the March 2026 high. This week may become a key point for the advancement of the CLARITY Act. The market generally believes that Circle is the most direct beneficiary, and this increase also reflects that the market is pricing in expectations that regulatory uncertainties are likely to ease. It is worth noting that the overall market capitalization of USDC has maintained steady growth recently.This round of increase for Circle more reflects the market's early pricing of potential policy and regulatory benefits rather than a significant improvement in short-term fundamentals. If the regulatory rules for digital assets become clearer, it is expected to not only support Bitcoin but also encourage more institutions to participate in the market.

According to The Block, the crypto anti-quantum computing solution Project Eleven released a report warning that the critical point for quantum computers to crack modern encryption, known as "Q-Day," could arrive as early as 2030, with a probability of over 50% by 2033. The report predicts that advancements in quantum computing will be explosive rather than linear, and the combined effects of hardware and algorithms could lead to a leap in capabilities that is "either completely silent or suddenly explosive."Last month, researchers used quantum hardware to derive a 15-digit elliptic curve key. Although this is still far from cracking the 256-bit encryption used by Bitcoin, it constitutes a preliminary validation. Project Eleven estimates that approximately 6.9 million Bitcoins may face quantum risks under specific conditions.

Nic Puckrin, co-founder and CEO of Coin Bureau, posted on the X platform that Bitcoin has surpassed the $80,000 mark, reaching a nearly three-month high, and has re-entered several key technical and on-chain indicator ranges, including the CME gap (between $79,000 and $84,000) midpoint, bull market support zone, and has risen above the short-term holder realized price and the true market average.Nic Puckrin analyzed that if the Bitcoin price can stabilize in the current range, the next levels to watch include the ETF average cost range around $83,000 and the upper edge of the CME gap around $84,500. Overall, Bitcoin's short-term trend has entered a critical verification phase, and the market may welcome a more volatile trading window.