BTC $84,530.77 -0.36%
ETH $2,669.01 -1.39%
BNB $768.16 -0.50%
XRP $1.49 -0.64%
SOL $118.83 +0.08%
TRX $0.3345 +0.10%
DOGE $0.0931 -1.30%
ADA $0.2462 -0.05%
BCH $312.42 +2.13%
LINK $13.87 -2.99%
HYPE $89.92 +2.36%
AAVE $178.76 +3.49%
SUI $1.15 -1.69%
XLM $0.2155 -1.75%
ZEC $1,327.74 -0.88%
AAPL $333.36 +0.61%
AMZN $251.40 +0.88%
GOOGL $343.16 +1.04%
MSFT $517.19 +0.19%
META $727.37 +0.05%
NVDA $234.42 +1.03%
TSLA $371.11 +4.25%
SNDK $1,721.84 -3.51%
INTC $119.43 -0.93%
SPCX $159.10 +6.65%
MU $1,070.38 -1.96%
AMD $633.87 +2.15%
BTC $84,530.77 -0.36%
ETH $2,669.01 -1.39%
BNB $768.16 -0.50%
XRP $1.49 -0.64%
SOL $118.83 +0.08%
TRX $0.3345 +0.10%
DOGE $0.0931 -1.30%
ADA $0.2462 -0.05%
BCH $312.42 +2.13%
LINK $13.87 -2.99%
HYPE $89.92 +2.36%
AAVE $178.76 +3.49%
SUI $1.15 -1.69%
XLM $0.2155 -1.75%
ZEC $1,327.74 -0.88%
AAPL $333.36 +0.61%
AMZN $251.40 +0.88%
GOOGL $343.16 +1.04%
MSFT $517.19 +0.19%
META $727.37 +0.05%
NVDA $234.42 +1.03%
TSLA $371.11 +4.25%
SNDK $1,721.84 -3.51%
INTC $119.43 -0.93%
SPCX $159.10 +6.65%
MU $1,070.38 -1.96%
AMD $633.87 +2.15%

big

All
Article
Flash

Vice Governor of the Central Bank Lu Lei: The boundaries of responsibility for intelligent payment systems cannot be ambiguous, and a self-discipline convention will be released

According to Mobile Payment Network, Lu Lei, a member of the Party Committee and Vice President of the People's Bank of China, stated at the 15th China Payment Clearing Forum that intelligent agent payments must not blur the boundaries of responsibility between consumers, operating institutions, and algorithm systems. Lu Lei believes that the essence of payment is the transfer of fund ownership, which objectively requires that the results of transactions are predictable, responsibilities are definable, and traces are traceable. Large models and autonomous intelligent agents have characteristics such as output randomness and insufficient transparency of logic. If transaction decision-making authority is blindly or excessively granted to intelligent agents, it will affect the trust foundation of fund transactions. The current governance rules of the payment industry and dispute resolution mechanisms are built around "humans as the final decision-makers in transactions." The new model of intelligent agents automatically initiating and assisting in transactions easily blurs the boundaries of responsibility, and the existing governance rules need to be optimized and improved.Regarding the issue of insufficient compatibility of protocol standards in the field of intelligent agent payments, Lu Lei emphasized that the dispute over protocols is essentially a dispute over business rules and technical standards, as well as a struggle for dominance in the era of artificial intelligence. The People's Bank of China continues to strengthen its tracking research on technological innovation, especially intelligent agent payments, guiding the Payment Clearing Association to leverage its advantages in industry self-regulation. Based on extensive soliciting of opinions, they will formulate and publish the "Self-Regulatory Convention for Intelligent Agent Payment Applications," and will continue to work on coordinating protocols and standards, as well as innovating risk governance. Lu Lei proposed three hopes to market institutions: actively respond to and implement the industry self-regulatory convention, with payment security and risk prevention as the bottom line, and consumer rights protection as the focal point; continuously track the trends of cutting-edge technologies such as large models and intelligent agents both domestically and internationally, and build technical reserves and application capabilities; adhere to the principle of rules and standards first, strengthen coordination and compatibility among different protocols and standards, and cooperate with regulatory authorities to promote the construction of a foundational protocol and technical standard system for intelligent agent payments.

Bitfinex: The recent rise in Bitcoin is mainly driven by spot demand and short covering, with profit-taking potentially being the biggest risk

Bitcoin recently rose to a monthly high, with Bitfinex analysts stating that this round of market activity is primarily driven by spot buying and short covering, rather than new leveraged funds, thus providing a longer duration compared to typical short squeeze scenarios. As investors who bought Bitcoin in the past five months are currently in a profit state, the main risk of the current upward trend comes from profit-taking chips flowing into trading platforms.Bitfinex believes that the U.S. Treasury's announcement on August 19 to expand the scale of long-term bond repurchases is an important factor driving the recent market activity. The initial phase of this rise was indeed driven by short liquidations. On the same day, the U.S. spot Bitcoin ETF recorded an inflow of $297.6 million. However, the subsequent price increase mainly came from spot buying. From the position structure, while Bitcoin prices rose by 10% to 11%, open interest (OI) only increased by about 4%, indicating that spot demand and short covering played a major role, while the impact of leveraged funds was limited.Bitfinex pointed out that the $68,000 to $69,000 range is currently an important support level, close to the average cost of buyers over the past five months. If Bitcoin maintains above this level, it will keep these investors in a profitable state, reducing the pressure of previously trapped chips selling during rebounds. In terms of funds, the U.S. spot Bitcoin ETF saw an inflow of $606.29 million on August 20, the largest single-day inflow since May 1, with BlackRock's IBIT contributing about 82%. Bitfinex stated that if fund inflows continue for a week, it will further strengthen the market demand structure.However, Bitfinex warns that the current biggest risk is a large amount of profitable Bitcoin flowing into trading platforms, which could trigger the largest profit-taking market since 2026. Analysts indicate that if real yields rise again to levels that previously suppressed Bitcoin from falling below $65,000, macro factors could still quickly impact the market.
app_icon
ChainCatcher Building the Web3 world with innovations.