policies

The British pound fell to a 12-week low against the US dollar due to the Bank of England's cautious stance on interest rate hikes, contrasting with the Federal Reserve's tightening policy.The Federal Reserve raised interest rates by 25 basis points last week and hinted at at least one more rate hike this year, strengthening the dollar. The Bank of England kept rates unchanged last week, causing the pound to drop by as much as 0.6%, reaching a low of 1.326 dollars.

According to the Citi Research podcast, Citi's Global Macro Strategy Head Dirk Willer and the Head of Quantitative Global Macro and Asset Allocation Team Alex Saunders engaged in an in-depth discussion about recent market dynamics. The two strategists pointed out that most central banks currently maintain a hawkish stance, but the Bank of Japan unexpectedly released dovish signals, which have a key impact on the USDJPY trend.Meanwhile, Bitcoin has shown a significant rebound recently, which may indicate a new round of changes in digital asset investment strategies in 2026, as institutional investors' interest in the crypto market continues to rise.

According to Business Insider, Google has adjusted its internal policies to allow engineers across the company to use the Anthropic Claude model, including Anthropic Opus 5, through the internal development platform Antigravity. Google stated that Gemini remains the primary foundational model developed internally by the company, while third-party models like Claude will be provided according to user quotas, mainly for specific scenarios, as a supplement to Gemini.Previously, access to Claude was mainly granted to the Google DeepMind team and some high-priority project employees. Reports indicate that despite Google launching the Flash 3.8 model, its coding capabilities are still considered by some employees to lag behind those of Anthropic and OpenAI. Meanwhile, Google has also announced plans to invest up to $40 billion in Anthropic.

On August 20, CZ retweeted his views on Hyperliquid's introduction to the United States and stated that many people overlook the bigger picture. Policies cannot apply only to a single company or project; a favorable policy benefits the entire industry.Previously, CZ commented on "the Trump administration potentially introducing Hyperliquid to the United States in a compliant and legal manner," stating that this would open up more Perp DEX and decentralized services to U.S. users, which would be a significant boon for the entire industry.

According to Jinshi reports, sources say that Syria has agreed to significantly reduce its oil imports from Russia to align with the United States lifting its designation of Syria as a "state sponsor of terrorism."

According to Jinshi reports, Paul Zangieri, a senior economist at Prudential Investment, is closely monitoring the communication wording of the Federal Reserve. It is expected that the FOMC will "maintain or even strengthen its hawkish tone," as ongoing inflation, rising oil prices, and internal disagreements within the FOMC open the door for further tightening of policies later this year.

According to Jinshi reports, the Bank of Korea stated that inflation will exceed the target in the second half of the year, so it is necessary to maintain a tight policy stance.

According to The Wall Street Journal, Coinbase Chief Legal Officer Paul Grewal stated that Coinbase has reached a settlement with the U.S. Securities and Exchange Commission regarding a Freedom of Information Act lawsuit, with the SEC agreeing to pay $150,000 and amend its record-keeping policies. The lawsuit revealed that the SEC lost nearly a year’s worth of communications from former Chairman Gary Gensler and other senior officials during the peak enforcement period in the cryptocurrency industry.Coinbase had previously requested documents from the SEC regarding how it applies securities laws to digital assets, but the request was denied, leading to a lawsuit that received court support. The SEC claimed that some text messages were lost due to an automatic data deletion process. Grewal pointed out that the SEC has imposed billions of dollars in fines on financial institutions for similar record-keeping issues.In February of this year, Coinbase also reached a settlement with the Federal Deposit Insurance Corporation regarding another Freedom of Information Act lawsuit. Coinbase stated that this lawsuit revealed that the FDIC had instructed nearly twenty banks to suspend cryptocurrency-related activities since 2022, which subsequently led to congressional hearings and resulted in a court ruling that the FDIC violated federal law.Grewal stated that both lawsuits revolve around government transparency and due process, emphasizing that the American public has the right to know whether regulatory agencies are restricting legitimate cryptocurrency businesses from accessing banking services through non-public means.

According to CoinDesk, major lobbying organizations in the U.S. cryptocurrency industry jointly sent a letter to the House Ways and Means Committee, urging the advancement of the "Tax Clarity for Mining and Staking Act," advocating for tax treatment options for cryptocurrency miners and staking income recipients. The bill was introduced by Republican Congressman Mike Carey, and its core content allows taxpayers to choose the timing of taxation when they receive new mining or staking assets—either paying taxes at the time the assets are generated or deferring taxes until the final sale.Industry associations, including the Blockchain Association, Digital Chamber, and Crypto Council for Innovation, have expressed support, arguing that the current tax system may force users participating in network security maintenance to bear tax burdens before they have realized the assets. Supporters claim that the proposal does not provide "indefinite deferral," but rather avoids immediate taxation on income that has not yet realized liquidity, thereby alleviating cash flow pressure on miners and validators.However, Democratic lawmakers and some external critics are concerned that this mechanism could be exploited by large mining companies for long-term tax deferral, especially in the context of some publicly listed or politically connected companies participating in mining operations, raising potential policy arbitrage disputes. Meanwhile, the industry's focus remains on the broader "Digital Asset Market Structure Act" (Clarity Act), but tax issues have become the second key battleground, expected to continue advancing in tandem with regulatory framework legislation in the coming weeks.

According to Jinshi, multiple institutions have significant disagreements regarding the future policy direction of the Federal Reserve. Goldman Sachs believes that if inflation does not cool down, the Federal Reserve may raise interest rates in September or in the fall, while Huatai Securities expects rates to remain unchanged in September, with the probability of a rate hike by the end of the year close to 50%. Regarding rate cuts, Nordea Bank believes that cuts may be delayed until 2027, while Citigroup expects cuts in 2026. Other institutions such as JPMorgan Chase and CITIC Securities tend to favor maintaining the current policy.

According to Jinshi reports, Federal Reserve Chairman Waller stated that among the 19 people, no one believes that tightening policy is necessary today.

According to an official statement from the U.S. SEC, Jamie Selway, the Director of the Division of Trading and Markets at the Securities and Exchange Commission (SEC), stated at the Piper Sandler Global Exchanges and Fintech Conference that Chairman Paul Atkins has instructed the division to advance the framework for the listing and trading of security tokens, with the guiding principle of "promoting innovation without creating regulatory arbitrage."

LayerZero Labs released a report on the KelpDAO attack incident, confirming that the KelpDAO rsETH cross-chain bridge built on its cross-chain communication protocol was attacked, resulting in the theft of approximately 116,500 rsETH (about $292 million). Several security agencies, including Mandiant, CrowdStrike, and independent researchers, attributed the attack to the North Korean-related hacker group TraderTraitor (UNC4899).The report indicates that the attack began on March 6, 2026, when the attackers used social engineering techniques to compromise a LayerZero developer account, obtain session keys, and infiltrate the RPC cloud environment, further contaminating internal RPC node data and manipulating return results to deceive monitoring systems and the decentralized verification network (DVN).LayerZero Labs officially announced that it will adjust its security strategy, including no longer allowing its DVN to act as the sole signer in a single validation configuration, while also rebuilding the affected cloud infrastructure and introducing short-term credentials, instant permission upgrades, and multi-party approval mechanisms to enhance security.

According to a joint article by several executives in the French cryptocurrency industry, the current tax policy on stablecoins is severely outdated. Under current regulations, converting stablecoins to fiat currency and withdrawing to a bank account incurs taxes, forcing a large amount of crypto assets to remain outside the traditional financial system, which is expected to result in a tax loss of 1 billion to 3 billion euros annually.The article calls for the French government to make targeted adjustments to the "2027 Budget Bill" within the next six months, as AI agents are increasingly adopting stablecoins for payments. It suggests following the practices of other countries by defining the conversion of stablecoins to fiat currency as a "tax-free withdrawal." Industry experts warn that if this critical six-month window is missed, France may miss out on significant industrial benefits brought by the integration of AI and cryptocurrency payments.

According to Jinshi reports, Brad Conger, the Chief Investment Officer of Hirtle & Co., stated that a small-scale dispute broke out within the FOMC today, with dissenters leaning towards a tightening policy stance, which sets the direction for the "struggle" for the incoming chair. The bond market has been pricing in this scenario for several weeks, and Conger believes that, based on strong growth in private consumption and business investment, the hawks will have the upper hand in this contest.

As the 2026 midterm elections in the United States approach, a new cryptocurrency political action committee (PAC) — Blockchain Leadership Fund (BLF) was officially launched on March 30, 2026. The fund was initiated by members of The Digital Chamber to support candidates promoting digital asset and blockchain-friendly policies across federal, state, and local elections.As a hybrid PAC, it can both make direct contributions to candidates and fund independent political advocacy efforts. Early supporters include Anchorage Digital and Chainlink Labs. The cryptocurrency industry is intensifying its efforts to influence the legislative process for digital assets in the U.S., especially during this critical period of discussions around regulatory frameworks like the Digital Asset Market Clear Act.Meanwhile, the well-known crypto super PAC Fairshake (supported by Coinbase, Ripple, and Andreessen Horowitz) faced setbacks in the Illinois primary in March 2026. Despite the PAC's strong performance since 2023, having raised $260 million during the 2023-2024 election cycle, supporting 33 winners in 35 primaries, and continuously accumulating $193 million by the end of 2025.However, its recent investment of nearly $20 million in the Illinois primary yielded poor results, with over $10 million spent opposing Democratic Senate candidate Juliana Stratton and nearly $2.5 million opposing Congressman La Shawn Ford, ultimately resulting in failure for both.

According to Jinshi reports, Federal Reserve Vice Chairman Jefferson stated that the current policy stance should continue to support the labor market and help bring inflation back down.