ChainCatcher news, according to CrowdfundInsider, the outgoing chairman of the Financial Stability Board (FSB) Klaas Knot issued a stern warning that the cryptocurrency market may be approaching a "tipping point," which could pose systemic risks to the global financial system. He stated, "Stablecoin issuers currently hold a significant amount of U.S. Treasury bonds. We must closely monitor this area.""The threshold for retail users has been significantly lowered, especially after the launch of cryptocurrency ETFs. The connections to the traditional financial system continue to strengthen." Knot emphasized the necessity of proactive regulation, noting, "The crypto ecosystem will continue to evolve, and our regulatory framework must do so as well."

ChainCatcher news, according to CoinDesk, Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), stated at the Coinbase annual summit that although the Trump administration had an open attitude towards cryptocurrencies, regulators would not relax compliance requirements for the industry.She emphasized that "supporting innovation does not mean condoning illegal activities," and the CFTC will focus on combating market fraud rather than criminalizing specific asset classes or technologies.Pham criticized the Biden administration's regulatory approach of "overly expansive legal interpretations," pointing out that this tendency affects not only the crypto market but also traditional derivatives and foreign exchange markets. She believes that once crypto technology is widely adopted, a complete ban will become impractical.

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission officially withdrew several proposed rules on Thursday that would impose stricter regulations on DeFi and cryptocurrency custody.These proposals were made under the leadership of former Chairman Gary Gensler, who led the agency's "enforcement-oriented approach." The withdrawn proposals included a proposed amendment to Rule 3b-16 of the Exchange Act published in April 2023. This proposal aimed to broaden the definition of exchanges, specifically to include decentralized finance platforms under the regulation of national securities exchanges. The proposal faced criticism from various industry stakeholders.

ChainCatcher news, U.S. President Trump stated that he will not fire Federal Reserve Chairman Powell, he just needs to lower interest rates. I hope the (Federal Reserve) lowers interest rates, we have a lot of short-term debt, and I prefer long-term low-interest debt. If we lower interest rates by 1%, it means paying 1% less.

ChainCatcher news, according to The Block, Brian Quintenz, the nominee for chairman of the Commodity Futures Trading Commission, committed in a written statement before his nomination hearing to provide clear classifications and jurisdiction for the regulation of the digital asset market.Quintenz stated, "It is time to establish a comprehensive regulatory framework for crypto assets, including clear token classifications and explicit jurisdiction over trading markets." He will leverage his experience as the policy director at a16z crypto to shape future cryptocurrency regulations.Quintenz recently disclosed his holdings of $3.4 million in assets, which include stakes in cryptocurrency-related companies such as the prediction market platform Kalshi, which has previously been involved in a long-standing legal dispute with the Commodity Futures Trading Commission (CFTC). Quintenz has previously stated that if confirmed as chairman, he would recuse himself from matters that could pose a conflict of interest and would relinquish positions that could lead to conflicts of interest.

ChainCatcher news, according to The Block, SEC Chairman Paul Atkins hinted at a more open attitude towards self-custody during the "DeFi and the American Spirit" roundtable. He referred to "self-custody rights" as "a fundamental American value." Atkins stated, "The right to self-custody of private property should not disappear simply because one logs onto the internet. I support giving market participants more flexibility to self-custody their crypto assets."

ChainCatcher news, according to CoinDesk, SEC Chairman Paul Atkins stated at a crypto roundtable that the SEC is developing an "innovation exemption" policy for DeFi platforms. Atkins mentioned that he has asked staff to explore rule modifications to provide regulatory exemptions for on-chain financial systems, allowing entities under SEC jurisdiction to quickly launch on-chain products.SEC crypto working group leader Hester Peirce emphasized that publishers should not be held liable for the use of code by others, but centralized entities cannot evade regulation by labeling themselves as "decentralized." Currently, SEC Republican commissioners hold a 3:1 majority and are pushing for more crypto-friendly policies. Atkins stated that blockchain technology enables financial transactions without intermediaries, and the SEC should not hinder this innovation.

ChainCatcher news, according to a tweet from KaiaChain Chairman Sam Seo, Kaia is actively promoting the issuance of a Korean Won (KRW) stablecoin. As a result of this news, the $KAIA 24H increase reached 15%.Previously, Kaia successfully launched the native USDT, and the next step will be to use the Korean Won stablecoin as a breakthrough to accelerate ecological development. Sam Seo emphasized that Kaia's predecessor, Klaytn, had deeply participated in the South Korean central bank's CBDC project, laying the foundation for the stablecoin layout.

ChainCatcher news, according to a Cointelegraph article, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated that the formulation of future cryptocurrency-related policies will adopt a public rulemaking process rather than advancing through enforcement actions.Atkins emphasized that this process will be conducted through "Notice and Comment" to ensure that the public can participate in policy-making and provide feedback.

ChainCatcher news, according to official news, the U.S. Securities and Exchange Commission (SEC) officially announced that the agency's chairman Paul Atkins will testify at the U.S. Senate Appropriations Committee hearing tomorrow at 2:30 PM (Eastern Time), and there will be a live broadcast.

ChainCatcher news, Dr. Xiao Feng, Chairman and CEO of HashKey Group, recently stated in an article on HashKey Group's official WeChat account that "stablecoins will become the starting point of the second growth curve in the blockchain industry." He indicated that the United States is consolidating the global status of "tokenized dollars" through stablecoin legislation, shifting from "petrodollars" to "on-chain dollars," and emphasized that the legislation on stablecoins in the U.S. and Hong Kong has elevated the application of blockchain technology to a national-level technological competition, marking a turning point for the industry.He pointed out that "compliance is the boat, and long-term is the anchor" is HashKey's unwavering strategy, and firmly believes that "compliance + Web3" is the key to building a lasting ecosystem.

ChainCatcher news, according to Bloomberg, former Chairman of the Commodity Futures Trading Commission (CFTC) Rostin Behnam recently stated, "Unless the CFTC is given greater regulatory authority, the crypto market will remain unregulated." He supports the long-standing view of the crypto industry that cryptocurrencies are commodities, pointing out that under current law, major tokens including Bitcoin and Ethereum are considered commodities, and the SEC has no jurisdiction over these tokens.

ChainCatcher news, Brian Quintenz, the nominee for the chairman of the U.S. Commodity Futures Trading Commission (CFTC) nominated by Trump, disclosed that he holds at least $3.4 million in assets and has multiple connections to the crypto industry.Quintenz currently serves as the global head of crypto policy at the venture capital firm a16z and as a director at the prediction market platform Kalshi. If his nomination is approved, he will resign from these positions. He has pledged to avoid regulatory matters related to his former employers for two years if he takes office.

ChainCatcher news, according to Cointelegraph, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Christopher Giancarlo has joined Swiss crypto bank Sygnum as a senior policy advisor. Giancarlo will provide advice to Sygnum on global regulatory and public-private partnership strategies alongside 11 other advisory board members.Sygnum is a Swiss banking group focused on crypto asset services, achieving unicorn valuation after a recent $58 million funding round. Giancarlo served as CFTC Chairman from 2017 to 2019 and is known as the "father of cryptocurrency" for his support of digital asset development. He stated that the global digital asset industry is currently at a turning point for institutional adoption.

ChainCatcher news, SEC Chairman Paul Atkins stated at the SEC conference, "The crypto market has been in a gray regulatory area of the SEC for years. Initially, the SEC adopted what I call an 'ostrich policy'—perhaps hoping the crypto industry would disappear on its own. Later, the policy shifted to a 'shoot first, ask questions later' enforcement-style regulation. The so-called slogan of 'welcome to chat' often actually means 'welcome to receive a subpoena.' This presents a dilemma for market participants. Such an environment cannot build trust. The underlying message is: 'You guess for yourself.'I have recently instructed the Division of Corporation Finance to maintain transparent communication with the public. When regulators can engage in open dialogue with the industry, market participants can act more flexibly and allocate capital more effectively to productive uses. Today marks a new starting point for the SEC. I have directed the staff in the policy department to begin drafting rule proposals related to cryptocurrencies. Meanwhile, the staff is still 'clearing obstacles' through departmental statements.I hope the Commission allows SEC-registered entities to simultaneously host and trade both securities and non-securities assets on one platform. This will help reduce costs for investors and enable non-securities trading to quickly enter the federal regulatory environment. In response to innovation trends and the progress of the crypto working group, we have requested Congress to reallocate the budget to integrate the SEC's 'Innovation and Financial Technology Strategic Center (FinHub)' functions into other parts of the agency."

ChainCatcher news, according to the official announcement from the U.S. Securities and Exchange Commission (SEC), SEC Chairman, commissioners, and staff will participate in the SEC Speaks event today and tomorrow.SEC Chairman Paul Atkins will deliver a speech today at 8:40 AM Eastern Time (8:40 PM Beijing Time). The event agenda and live broadcast information can be obtained through the official link.