U.S. Treasury Secretary Yellen: Focus on Hong Kong's digital asset innovation may impact Bitcoin and gold pricing systems

Odaily Planet Daily reports that U.S. Treasury Secretary Janet Yellen recently stated that Hong Kong is currently exploring a new financial system based on digital assets as a “sandbox” for financial innovation. Market concerns focus on potential impacts on Bitcoin and gold pricing systems. Yellen added that there is no conclusive evidence at this time, but related rumors continue to circulate in the market, and the U.S. is closely monitoring the development of the situation. Analysts point out that if a sovereign digital asset system linked to gold emerges in the future, it could have a long-term impact on the existing dollar-dominated financial system and the pricing logic of cryptocurrencies. However, currently, most discussions are still at the policy debate and market speculation stage, and the short-term impact on the crypto market is mainly driven by sentiment and speculative trading. (Forbes)