3.27 AI Daily Report: Global economic turmoil intensifies, Crypto Assets market is full of changes.

1. Headlines

1. The Trump administration plans to impose comprehensive tariffs, triggering global economic turmoil.

The Trump administration announced a 25% tariff on all imported goods, causing severe fluctuations in global markets. This move aims to protect American industries but may also trigger a trade war, severely impacting global supply chains.

The United States’ main trading partners have reacted strongly. The European Union stated it will take “decisive action,” while China’s Ministry of Commerce warned of “resolute countermeasures.” Economists warn that tariff policies will exacerbate inflationary pressures and weaken the purchasing power of American consumers. The business community is concerned that rising costs will severely impact profits.

Global financial markets fell in response, with investors flocking to safe-haven assets. The three major U.S. stock indices collectively declined, and the U.S. dollar index soared. Commodity prices plummeted, with international oil prices plunging more than 5%. Analysts are concerned that if a trade war fully breaks out, it will severely impact the global economic recovery process and could even trigger a new round of recession.

At the same time, the cryptocurrency market is experiencing a short-term rise, with Bitcoin and other digital assets being regarded as new safe-haven assets. However, in the long term, a slowdown in the global economy will significantly impact the cryptocurrency market, and investors need to remain cautious.

2. Ethereum EIP-7917 proposal approved, enhancing the security of on-chain applications.

The Ethereum core development team announced the proposal through EIP-7917, aimed at addressing the uncertainty issues in the current proposer election mechanism and improving the security margin of on-chain applications such as oracles.

In the current Ethereum consensus, the dynamic changes in validators’ effective balances make it difficult for the proposer of the next epoch to accurately predict, posing risks to on-chain applications based on pre-confirmation protocols. EIP-7917 addresses this issue by pre-computing and storing a deterministic proposer list at the beginning of each epoch.

It is estimated that the new solution can increase the margin of safety of on-chain applications such as oracles by 40%, prevent validator manipulation, and simplify protocol implementation, maintaining backward compatibility and scalability.

Analysis indicates that the Ethereum ecosystem is developing towards higher security and usability. The approval of EIP-7917 helps attract more enterprise-level application scenarios to land, promoting the long-term development of Ethereum in the Web3 era.

3. OpenAI’s revenue surges, but losses continue to widen.

According to informed sources, OpenAI’s revenue is expected to exceed $1 billion by 2028, but losses are also continuing to expand. OpenAI is increasing its investment in the development of artificial intelligence systems, leading to soaring costs.

OpenAI’s revenue mainly comes from ChatGPT paid subscriptions and enterprise-level customization services. As ChatGPT rapidly gains popularity worldwide, the number of subscription users has surged, driving significant revenue growth. However, OpenAI also faces immense pressure from the costs of chips, data centers, and talent required to develop cutting-edge artificial intelligence systems.

Analysts point out that OpenAI is at a critical stage of scaling up, and short-term losses are inevitable. However, if it can continue to lead the development of artificial intelligence technology, it will reap substantial rewards in the future. The development of OpenAI will also promote the prosperity of the entire artificial intelligence industry, bringing far-reaching impacts.

4. North Carolina plans to incorporate Bitcoin to promote financial innovation.

North Carolina is considering allowing up to 5% of the state’s retirement funds to be invested in cryptocurrencies like Bitcoin, and is developing strict management and monitoring policies. Another bill aims to allocate up to 10% of public funds specifically for investment in Bitcoin.

This initiative aims to include Bitcoin in North Carolina’s financial innovation strategy and enhance the competitiveness of the state’s economy. Proponents argue that investing in cryptocurrencies in moderation can help diversify portfolio risk and create a new source of income for the state government.

However, critics are concerned that the high volatility of the cryptocurrency market could pose significant risks to public funds. They are calling on the government to act prudently and conduct a comprehensive assessment of the risk-reward ratio.

Analysis indicates that the approach taken by North Carolina reflects the growing prevalence of cryptocurrency in the traditional financial sector. As regulations become clearer, more states and institutions are expected to follow suit and include crypto assets in their investment scope.

5. Ghibli-style AI portraits spark copyright controversy

Recently, some well-known figures in the crypto community have been using anime portraits in the style of Studio Ghibli, which has sparked copyright controversies. These portraits were generated by OpenAI’s GPT-4o model and may be a result of training on the works of Studio Ghibli.

Hayao Miyazaki, the founder of Studio Ghibli, has stated that he does not support the use of artificial intelligence technology in his works. Analysts believe that if the data from Studio Ghibli’s works is indeed used to train AI models, it would constitute copyright infringement.

At the same time, there are opinions that AI-generated images belong to derivative works and should enjoy fair use rights. As long as it is not a direct copy, the impact on the original work is limited.

Regardless, this event has once again sparked discussions on copyright law issues in the era of artificial intelligence. Analysis indicates that existing copyright laws may struggle to fully encompass AI-generated content, necessitating updates and improvements to relevant laws and regulations.

2. Industry Data

1. BTC

Recent transaction price 88140.6000 USD, daily increase +2.0000%.

2. ETH

Recent transaction price is $2069.5400, daily increase +0.7000%.

3. GT

Recent trading price 24.0490 USD, daily increase +1.3000%.

4. JELLYJELLY

Recent transaction price is $0.0128, with a daily decline of -29.3000%.

5. PI

Recent transaction price 0.8348 USD, intraday decline -9.6000%.

3. Industry News

1. Short-term Bitcoin holders are sitting on $17 billion in unrealized losses – still showing no signs of surrender.

Bitcoin is struggling to regain the critical $90,000 level, with price movements reflecting a shift in sentiment from extreme fear to cautious optimism. After weeks of volatility and uncertainty, short-term Bitcoin holders are currently facing an unrealized loss of around $17 billion. However, on-chain data shows that despite the heavy losses, there are no signs of large-scale selling by investors.

Analysts point out that Bitcoin’s trading activity and network usage remain at healthy levels, indicating that investors still hold an optimistic outlook on the long-term prospects. Nevertheless, Bitcoin needs to break through the key resistance level of $93,500 to re-establish an upward trend. If a breakout cannot be achieved, Bitcoin may face further correction risks.

Overall, the Bitcoin market is at a critical turning point. Investors are divided on the future trend, with some believing that Bitcoin will soon regain its upward momentum, while others are concerned about a potential larger decline. In any case, Bitcoin’s short-term trend will depend on its ability to effectively break through the current resistance area.

2. Dogecoin Global Reserve: Doge House promotes adoption through new initiatives!

The popular Meme coin Dogecoin ( DOGE ) is taking new measures to promote its global adoption. Dogehouse ( has recently announced a new initiative called “Global Reserve” aimed at encouraging more businesses and individuals to accept DOGE as a payment method.

According to the plan, Doge House will collaborate with businesses around the world to provide them with the necessary tools and resources to accept DOGE payments. Participating businesses will receive marketing support and technical guidance to ensure seamless integration of the DOGE payment system. In addition, Doge House will also provide businesses with DOGE reserves as an incentive for accepting DOGE payments.

Analysts believe that this move will help increase the utility and liquidity of DOGE, thereby increasing its use in daily trading. As more businesses accept DOGE payments, the value and demand for Dogecoin is likely to increase even further.

However, there are also doubts about the long-term viability of the plan. Some critics point out that DOGE lacks practical use cases and mainly relies on speculative demand. If investors lose interest in DOGE, its value could plummet, affecting companies’ willingness to hold DOGE.

Regardless, House of Doge’s “Global Reserve” program is a sign that the DOGE ecosystem is working to expand its reach. Over time, the market will see if this attempt can lead to true mainstream adoption of DOGE.

) 3. Ethereum shows bullish momentum, targeting $2,100, driven by institutional demand.

The Ethereum price around the key relief zone of $2,064.60 reflects bullish momentum, indicating strong institutional interest. Technical analysis shows that if Ethereum can break through the resistance level of $2,100, it may see further increases, with a target price around $2,150.

The main factor driving this upward trend is the continuous demand for Ethereum from institutional investors. Recent data shows that several large asset management firms and hedge funds are increasing their investment positions in Ethereum. This demand mainly stems from a positive outlook on Ethereum’s long-term prospects as a leading smart contract platform.

Analysts point out that Ethereum’s rise is also supported by its strong fundamentals. The number of active addresses on the Ethereum network and trading volume have recently increased, reflecting users’ growing preference for the network. In addition, the continuous emergence of innovative applications within the Ethereum ecosystem has also added confidence to its long-term development prospects.

However, some analysts are cautious about the short-term rise of Ethereum. They point out that the cryptocurrency market as a whole is still in a state of uncertainty, and any sudden events could lead to a shift in sentiment towards pessimism, triggering a sell-off. Therefore, investors should carefully consider potential risks when making investment decisions.

In any case, Ethereum’s recent performance reflects the market’s optimistic sentiment towards its prospects. If institutional demand continues to grow, Ethereum is expected to maintain an upward momentum in the near future. However, investors should also be cautious of any signs of potential reversals.

4. Shiba Inu Coin may experience explosive growth of 12 times during this period, as SHIB holdings plunge.

Shiba Inu Coin ### SHIB ( is showing strong bullish signals, accompanied by a decrease in exchange reserves, an increase in Shiba Inu Coin exchange activity, and analysts predicting significant upside potential, leading to a surge in the token’s value.

Data shows that in the past few weeks, the reserves of Shiba Inu Coin on cryptocurrency exchanges have significantly decreased, indicating that investors are transferring funds to private wallets. This phenomenon is often viewed as a bullish signal, as it suggests that investors are accumulating and preparing to hold long-term.

At the same time, the trading volume of Shiba Inu Coin on decentralized exchanges has also seen a significant increase, reflecting the rising demand from traders for this asset. Some analysts believe this may signal an imminent price surge.

Based on these factors, some cryptanalysts have made optimistic predictions, believing that Shiba Inu Coin could experience a 12-fold explosive growth during this cycle. They pointed out that if Shiba Inu Coin can break through the current major resistance level, it may usher in a wave of strong upward momentum.

However, some analysts express skepticism about this prediction. They believe that Shiba Inu Coin, as a meme coin, derives its value primarily from speculative demand and lacks genuine utility value support. Once the speculative enthusiasm wanes, the price of Shiba Inu Coin may quickly drop.

Regardless, the recent performance of Shiba Inu Coin is worth close attention. If the exchange reserves and trading volume continue to decline, it may provide additional upward momentum for the price. However, investors also need to be vigilant for any signs of potential reversals and manage their risks accordingly.

) 5. Key Turning Points for Bitcoin: Price Shares Two Scenarios!

According to a recent analysis by CryptoQuant, Bitcoin is at a critical point, using the Bitcoin Comprehensive Market Index ###BCMI(. BCMI integrates four major indicators to assess market health, shows the current state of Bitcoin, and signals potential market scenarios.

Analysts point out that the BCMI is currently in a neutral zone, which means that Bitcoin may develop in two different directions. One scenario is that if the moving average of the BCMI starts to rise, Bitcoin could enter a new bull market cycle, accompanied by a healthy price correction.

Another scenario is that if the moving average of BCMI starts to decline, Bitcoin may enter a bear market, and the price may experience further declines. In this case, investors need to closely monitor potential support levels to prevent excessive losses.

Regardless of the situation, analysts advise investors to closely monitor the trend of BCMI, as it can provide important clues about the future movement of Bitcoin. At the same time, they also remind investors to pay attention to risk management and to adjust their investment strategies appropriately based on market conditions.

Overall, Bitcoin is at a critical inflection point. While there is uncertainty in the short term, Bitcoin’s long-term outlook remains one to watch. Investors need to be patient and cautious and keep a close eye on market dynamics to make informed investment decisions.

4. Project News

) 1. Sui Network joins the Hydropower program to promote the application of AI Agent technology in the Sui ecosystem.

Sui Network is a brand new blockchain platform built by a team of engineers who have previously worked on the Ethereum and Diem projects. The platform uses the Move programming language and a new execution engine, aiming to provide a blockchain experience with high throughput, low latency, and high energy efficiency.

Latest updates: Sui Network announced that its flagship project WORLD3 has joined the Sui Hydropower program. This program aims to accelerate innovative projects built on the Sui blockchain, providing them with customized courses, pitch preparation, and other support. Over the next 12 weeks, WORLD3 will participate in intensive practical workshops to further enhance its groundbreaking AI Agent technology, tailoring fully automated solutions for the Sui ecosystem.

WORLD3 is an AI autonomous world project dedicated to developing general AI Agent technology. By joining the Hydropower program, WORLD3 will receive technical support from Sui and is expected to realize the application of AI Agents within the Sui ecosystem. This marks Sui’s formal embrace of AI technology, injecting new vitality into its ecosystem.

Market Impact: AI technology is seen as a key driving force for the future development of technology, and its integration with blockchain is expected to give rise to entirely new application scenarios. Sui Network, in collaboration with WORLD3, is introducing AI Agent technology into the blockchain field, which could trigger a technological revolution within the industry.

Once the AI Agent technology is successfully implemented within the Sui ecosystem, it will greatly enhance the automation and intelligence level of the blockchain. Users will be able to automatically execute various complex operations through AI agents, significantly improving efficiency. At the same time, AI technology may also bring new business models and application scenarios to the blockchain.

Industry feedback: Industry insiders welcome the collaboration between Sui and WORLD3. Analysts believe that AI technology will become an important driving force for the future development of blockchain, and the Sui Network has seized this trend. Through its partnership with WORLD3, Sui will gain a competitive edge in the application of AI technology, injecting new vitality into its ecosystem.

However, some individuals express concerns about the application of AI technology in the blockchain field. They believe that AI technology carries certain uncertainties and security risks, and its integration with blockchain may introduce new risks. Therefore, Sui needs to focus on risk control and security protection while promoting the application of AI technology.

Overall, the collaboration between Sui and WORLD3 marks the official entry of AI technology into the blockchain field. This initiative will bring new development opportunities to the Sui ecosystem, while also having a profound impact on the entire industry.

2. The first stablecoin SUI USDC of the Sui ecosystem is launched, paving the way for DeFi applications.

Sui Network is an emerging blockchain created by former Meta###Facebook( employees to provide a high-throughput, low-latency blockchain experience. Since the launch of the independent network, the Sui ecosystem is developing rapidly, attracting many projects to settle in.

Latest Updates: The first stablecoin of the Sui ecosystem, SUI USDC, is officially launched. This is the native USDC launched in collaboration with Circle. SUI USDC will serve as the main payment and settlement tool within the Sui ecosystem, paving the way for the development of DeFi applications.

Unlike the previous approach that required cross-chain bridging, SUI USDC is issued and circulated directly on the Sui chain, offering higher security and efficiency. Users can directly use SUI USDC for payments, lending, and other operations without the need for asset transfers between chains.

In addition, SUI USDC will become a major pricing and valuation tool within the Sui ecosystem. In the future, various DeFi applications on Sui will use SUI USDC as a benchmark asset, contributing to the stable development of the entire ecosystem.

Market impact: Stablecoins are a key infrastructure for the development of the DeFi ecosystem. The launch of SUI USDC marks that the Sui ecosystem officially has the basic conditions for developing DeFi applications, laying a solid foundation for its future development.

Once mature DeFi applications emerge within the Sui ecosystem, it will greatly enrich the application scenarios of Sui, attracting more users and capital. At the same time, the existence of stablecoins will also bring more institutional-level funds to the Sui ecosystem, enhancing its influence in the industry.

In addition, the launch of SUI USDC will also promote the integration of the Sui ecosystem with the traditional financial system. In the future, users will be able to perform various financial operations on Sui, achieving efficient asset circulation, thereby facilitating the deep integration of blockchain with the real economy.

Industry Feedback: Industry insiders have welcomed the launch of SUI USDC. Analysts believe that stablecoins are the cornerstone of DeFi ecosystem development, and the introduction of SUI USDC will bring new development momentum to the Sui ecosystem.

However, some people have expressed doubts about the degree of decentralization of SUI USDC. Since SUI USDC is issued by Circle, it is still under the control of a centralized institution, which creates a gap compared to truly decentralized stablecoins.

Overall, the launch of SUI USDC is an important milestone in the development of the Sui ecosystem. It provides the foundational conditions for the development of DeFi applications on Sui, while also promoting the integration of blockchain with traditional finance. In the future, how the Sui ecosystem will leverage this advantage is worth the industry’s continued attention.

) 3. The Sui ecosystem’s first oracle Pyth Network is launched, providing a reliable source for on-chain data.

Sui Network is an emerging blockchain created by former Meta### Facebook( employees, aiming to provide a high throughput and low latency blockchain experience. Since its independent online launch, the Sui ecosystem has been rapidly developing and attracting numerous projects.

Latest updates: The first oracle of the Sui ecosystem, Pyth Network, is officially launched, providing a reliable offline data source for on-chain data. Pyth Network is a decentralized oracle network composed of multiple nodes that can provide high-quality off-chain data for the blockchain.

In the Sui ecosystem, Pyth Network will provide key price data for various DeFi applications, such as cryptocurrencies, stocks, foreign exchange, and more. This data will be directly transmitted to the Sui chain, ensuring the reliability and timeliness of the data.

Compared to traditional centralized oracles, the Pyth Network adopts a decentralized architecture maintained by multiple independent nodes. This not only enhances the reliability of the data but also strengthens the overall system’s defenses, effectively avoiding risks of single points of failure and data tampering.

Market Impact: Oracles are the key bridge for interaction between blockchain and real-world data, which is crucial for the development of the DeFi ecosystem. The launch of Pyth Network has brought reliable off-chain data sources to the Sui ecosystem, providing a solid foundation for the development of its DeFi applications.

With the high-quality data support provided by Pyth Network, lending, derivatives, and other DeFi applications in the Sui ecosystem will become more accurate and efficient. This will further enhance the attractiveness of the Sui ecosystem, drawing more users and capital in.

At the same time, the decentralized architecture of Pyth Network will bring higher security and reliability to the entire Sui ecosystem. This not only helps maintain the stable operation of the ecosystem but also enhances users’ confidence in Sui, promoting its long-term development.

Industry feedback: Industry insiders welcome the launch of Pyth Network in the Sui ecosystem. Analysts believe that a reliable oracle is a key component for the development of the DeFi ecosystem, and the addition of Pyth Network will bring new momentum for Sui.

However, some individuals have expressed doubts about the level of decentralization of the Pyth Network. They believe that although the Pyth Network employs a multi-node architecture, the selection and management of its nodes still pose a risk of centralization, which creates a certain gap from true decentralization.

Overall, the launch of Pyth Network is an important milestone in the development of the Sui ecosystem. It provides Sui with reliable off-chain data sources, laying a solid foundation for the development of its DeFi applications, while also enhancing the overall security and reliability of the ecosystem. In the future, how the Sui ecosystem will leverage this advantage is worth the industry’s continued attention.

5. Economic Dynamics

) 1. The Federal Reserve keeps interest rates unchanged, emphasizing patience in waiting for inflation to cool.

The current economic environment presents a complex situation. On the one hand, US GDP grew by 2.6% year-on-year in the fourth quarter of 2024, which was higher than expected, indicating that the economy remains resilient. But on the other hand, inflation climbed to 6.0% in February, well above the Fed’s 2% target. The unemployment rate held steady at a low of 3.6% and the job market remains tight.

At the March Federal Open Market Committee ### FOMC ( meeting, the Federal Reserve decided to keep the target range for the federal funds rate unchanged at 5.00%-5.25%. Powell reiterated that they would patiently wait for inflation to further cool down and would not prematurely shift to rate cuts. This decision aligns with market expectations and reflects the Federal Reserve’s determination to combat inflation.

This interest rate decision has attracted widespread attention from market participants. Investors generally believe that the Federal Reserve will remain on hold for the next few months until inflation data shows significant improvement. Some analysts suggest that the Federal Reserve may need to keep interest rates at a high level for a period of time to solidify its anti-inflation achievements.

Goldman Sachs Chief Economist Jan Hatzius stated: “The Federal Reserve is at a delicate balance. On one hand, they need to maintain policy tightening to lower inflation expectations; on the other hand, they cannot overly tighten and cause a hard landing for the economy.” He expects the Fed to start modest rate cuts later this year.

) 2. The Trump administration announced a new round of tariff measures, escalating global trade tensions.

After months of a cooling period, the Trump administration announced a series of new tariff measures this week, raising concerns about an escalation in global trade tensions.

The most striking aspect is that the Trump administration will impose a 25% tariff on all imported cars, set to take effect on April 3. In addition, the United States will also implement the long-anticipated “reciprocal tariffs” against major trading partners such as the EU and Canada.

This series of measures immediately triggered a strong response both domestically and internationally. Domestic automakers and dealers have expressed that tariffs will greatly increase the cost of purchasing vehicles for consumers, harming the competitiveness of the U.S. auto industry. European Commission President Ursula von der Leyen warned that if the U.S. does impose tariffs on EU products, the EU will have to take countermeasures.

The shadow of trade wars once again looms over the global economy. The latest report released by the World Bank forecasts that if the United States imposes a 25% tariff on all imported products, the global GDP will decrease by approximately 1.4% by 2025.

However, the Trump administration has a different view on this. White House trade advisor Navarro stated that the tariff measures are aimed at protecting American industries and jobs, and forcing trade partners to adopt fair trade policies. He believes that there may be some turbulence in the short term, but in the long run, it will bring significant benefits to the U.S. economy.

3. The Silicon Valley Bank crisis triggered a ripple effect, plunging the U.S. banking sector into turmoil

Economists generally believe that the collapse of Silicon Valley Bank is just the tip of the iceberg for problems in the American banking industry. In the past week, several small and medium-sized banks, including First Republic Bank, have experienced liquidity crises, triggering turmoil in the banking sector.

Analysts point out that the root of this crisis lies in the recent aggressive interest rate hikes by the Federal Reserve. Several rounds of significant interest rate increases have led to a severe imbalance in bank balance sheets, causing some banks to be unable to absorb the losses brought about by rising interest rates.

In the face of turmoil in the banking industry, the U.S. government and regulatory agencies acted quickly. The Federal Deposit Insurance Corporation took over the failed banks and announced that it would fully protect all depositors to prevent a panic-driven bank run. At the same time, the Federal Reserve also restarted the “lender of last resort” mechanism to provide emergency loans to banks lacking liquidity.

These measures have alleviated market panic to some extent, but have also raised concerns about rising inflation expectations. Goldman Sachs analysts point out that in order to stabilize the financial system, the Federal Reserve may have to slow down the pace of interest rate hikes, which could prolong the time inflation remains at high levels.

The turmoil in the banking sector has also cast a shadow over the economic outlook. The World Bank has lowered its GDP growth forecast for the United States in 2025 to 0.6% and warned that if the banking crisis continues to spread, the risk of an economic recession will increase significantly.

6. Regulation & Policy

1. The U.S. Securities and Exchange Commission initiates cryptocurrency regulatory dialogue.

The U.S. Securities and Exchange Commission (SEC) has announced it will hold four roundtable discussions on cryptocurrency to explore regulatory issues. This initiative is led by SEC Commissioner Peirce and has generated anticipation within the industry. The meetings will cover areas such as trading regulation, custody, asset tokenization, and DeFi.

Background: The SEC has long had disagreements over cryptocurrency regulation. Since the appointment of new SEC Chairman Gary Gensler, the industry hopes he can bring new direction to cryptocurrency regulation. This meeting is seen as the beginning of dialogue between the SEC and the industry.

Content: Four roundtable discussions will focus on hot topics such as trading regulation, custody, asset tokenization, and DeFi. The SEC will invite industry representatives to participate in discussions with regulatory agency representatives. The aim of the meetings is to provide references for the SEC to develop a long-term regulatory blueprint.

Market Reaction: The cryptocurrency industry welcomes this conference. Industry insiders hope that the SEC can establish a clear and innovation-friendly regulatory framework through dialogue with the industry. However, there are also views that the SEC’s intentions remain to be observed.

Expert opinion: Former SEC Commissioner Joseph Grundfest stated that the SEC needs to seek a balance between protecting investors and promoting innovation. He suggested that the SEC should maintain open communication with the industry and develop reasonable regulations for cryptocurrencies based on risk.

2. U.S. House of Representatives reintroduced the Securities Clarity Act to delineate the regulatory boundaries of cryptoassets

U.S. Congressman Tom Emmer and Darren Soto have reintroduced the “Securities Clarity Act,” which aims to clarify the legal distinction between crypto assets and securities contracts, providing a compliance pathway for innovative projects. The bill has received support from organizations such as Coin Center and the Blockchain Association and is seen as an important precursor to legislative action on the structure of the U.S. crypto market.

Background: There has long been a regulatory vacuum for cryptocurrency in the United States, with disagreements over regulatory authority between the SEC and the CFTC. The “Securities Clarity Act” aims to delineate the boundaries between crypto assets and securities, clarifying the regulatory entities.

Content: The bill aims to grant the Commodity Futures Trading Commission ###CFTC( more regulatory authority and funding to oversee the crypto spot market and “digital commodities,” such as Bitcoin, and to further clarify the role of the SEC.

Market reaction: Industry insiders generally welcomed this. They expect the bill to bring certainty to cryptocurrency regulation, provide a compliance path for innovative projects, and promote industry development.

Expert Opinion: Jerry Brito, Executive Director of Coin Center, stated that the bill will provide the legal certainty needed for cryptocurrency regulation. He believes that clarifying the regulatory body will help the industry’s development and urges Congress to pass the relevant legislation as soon as possible.

) 3. Wyoming intends to issue its first state-backed stablecoin

Wyoming plans to launch a fiat-backed stablecoin, Wyoming Stable Token ###WYST(, in July this year, becoming the first state in the U.S. to issue such a token. This move further reflects the state’s open attitude towards cryptocurrency regulation.

Background: Wyoming has long maintained an open attitude towards cryptocurrency regulation, successively enacting multiple cryptocurrency-friendly policies to create a favorable environment for industry development. The issuance of a state government-supported stablecoin is its latest initiative.

Content: WYST will be supported and regulated by the government of Wyoming, aiming to provide a stable digital payment tool for businesses and residents in the state. This stablecoin will be pegged to the US dollar at a 1:1 ratio and backed by Wyoming’s reserves.

Market reaction: Industry insiders have welcomed this. They believe that the state government-supported stablecoins help to increase public trust in stablecoins and promote their application in areas such as payments and settlements.

Expert Opinion: Cryptographer and cryptocurrency investor Audrey Erschen stated that the launch of WYST will provide beneficial insights for the regulation of stablecoins. She believes that government-supported stablecoins may become a future trend, which will help improve the transparency and credibility of stablecoins.

Overall, the regulatory dynamics and policies mentioned above reflect new progress in cryptocurrency regulation in the United States. Regulatory agencies are working to create a clearer and more favorable regulatory environment for cryptocurrencies through legislation and dialogue. Both inside and outside the industry are closely monitoring these dynamics, hoping to contribute to the long-term development of cryptocurrencies.