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After a meeting with Islamic scholar Mufti Taqi Usmani, Bilal bin Saqib, the chairman of the Pakistan Virtual Assets Regulatory Authority, stated that stablecoins, tokenized RWA, and other blockchain products should undergo separate technical and Islamic law assessments and should not be regarded as the same category.Previously, scholars including Usmani issued a fatwa declaring that USDT and other cryptocurrencies do not constitute wealth recognized by Islamic law, rendering transactions for purchasing physical goods or digital services invalid. Pakistan passed the Virtual Assets Act in March of this year, requiring exchanges, custodians, and token issuers to ensure compliance with Islamic law under the guidance of an Islamic finance scholars committee. At the same time, the country is advancing sovereign stablecoins, national asset tokenization, and licensing for cryptocurrency trading platforms.

According to Hürriyet Daily News, Turkish prosecutors have filed charges against a massive money laundering network involving the "Grand Bazaar," with the amount in question nearing 40 billion Turkish lira (approximately 850 million USD). The indictment lists 504 suspects who are accused of using shell companies, bank accounts, currency exchange offices, POS terminals, and cryptocurrency transactions to conceal illegal proceeds. The suspects are also accused of converting the illicit funds into cryptocurrency and transferring them abroad, as well as luring victims into fraudulent investment schemes with promises of high returns. Prosecutors are seeking a maximum sentence of 34.5 years in prison for the alleged mastermind Türker Ak and a maximum of 31 years for the alleged network manager Murat Dönmezoğlu.

According to Jinshi reports, the International Financial Association pointed out that the Federal Reserve is becoming more hawkish, and with the resurgence of oil price fluctuations, this may tighten U.S. dollar liquidity and raise the risk threshold for emerging markets.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $77,031.57 in "Portugal" during the "Portugal vs. Uzbekistan" event. Based on the current transaction price, the latest corresponding win rate for this target is 86%.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the Polymarket. A large whale invested $50,132.5 in the event "Portugal vs Uzbekistan - More Markets," targeting "Portugal (-2.5)." Based on the current transaction price, the latest corresponding winning probability for this target is 55%.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $129,000 in the event "Portugal vs Uzbekistan," specifically targeting "Portugal." Based on the current transaction price, the latest corresponding winning probability for this target is 86%.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $82,200 in "Uzbekistan" for the event "Portugal vs. Uzbekistan." Based on the current transaction price, the latest corresponding winning probability for this target is 96%.

According to Jinshi reports, data shows that forex traders, including hedge funds, are buying options in large quantities, betting that the dollar will strengthen further after the Federal Reserve released hawkish signals this week. Leveraged funds began buying dollar call options on Wednesday, and this demand continued into Thursday as investors digested the anti-inflation remarks from the new Federal Reserve Chair, Waller. Tobias Jungmann, head of forex options at Bank of America, stated that the buying of dollar call options is heavily concentrated in G-10 currencies. James Swindell, a forex options trader at Barclays, also noted a significant increase in demand for dollar call options, particularly in the euro/dollar and pound/dollar pairs.

According to Jinshi reports, Kay Haigh of Goldman Sachs Asset Management stated that the "unequivocally hawkish" message from Walsh surprised the market, as it prioritized curbing inflation. The market believes that the probability of a rate hike by the Federal Reserve in September has exceeded 80%, and expects more than one rate hike in October. Haigh predicts that the volatility of 2-year Treasury bonds will significantly increase in the future, as the market refocuses on inflation issues, with the long end of the yield curve stabilizing. On Wednesday, the yield on 2-year U.S. Treasuries surged by 13 basis points, marking the largest increase since April 2025.

The Federal Reserve has released a hawkish signal, putting pressure on gold prices to decline. According to CoinGlass data, gold (XAUT) is currently priced at $4280.41, down 0.62% in the last 24 hours. Meanwhile, the total 24-hour trading volume of XAUT across the network reached $293 million, with the Gate platform performing particularly well, recording a 24-hour trading volume of $26.6557 million for its XAUT/USDT trading pair, and a 7-day trading volume exceeding $131 million, both ranking in the top two globally. In addition, the total 24-hour trading volume of XAUT contracts across the network reached $1.138 billion, with the Gate platform's position size around $11.9 million, ranking third among global exchanges.

CryptoQuant analyst Axel Adler Jr. stated that the Federal Reserve kept the federal funds rate unchanged in the range of 3.5% - 3.75%, but the dot plot released hawkish signals, weakening support for risk assets.As a result, Bitcoin fell about 4% from around $66,400, dropping below $64,000, and there has not yet been a significant bottom-buying interest; gold, on the other hand, quickly rebounded above $4,300 after a dip.

Trader Ansem posted that Warsh and the hawkish FOMC may put pressure on risk assets, expecting that risk assets will generally decline, while BTC has shown relative weakness compared to most assets. He believes that BTC's failure to break through the weekly resistance across multiple time frames may lead to another test of the range's low point.

According to Jinshi reports, the Federal Reserve's dot plot shows a clear hawkish tendency, leading to a sharp decline in Shanghai gold and silver futures at the opening. Goldman Sachs has issued a warning that the hawkish shift is not solely due to oil, and when precious metal prices will stabilize remains a focal point of market attention.

According to on-chain data monitored by Catcher Predict, significant capital movements are predicted in the market Polymarket. A large whale invested $300,000.07 in the event "Uzbekistan vs. Colombia," specifically targeting "Colombia." Based on the current transaction price, the latest corresponding winning probability for this subject is 73%.

According to monitoring by Catcher Predict, in the predicted market event "Uzbekistan vs. Colombia - More Markets" on Polymarket, the win probability of the "Colombia (-5.5)" option in the sub-market "Colombia" has experienced significant fluctuations, soaring from 3.9% an hour ago to the current 23.45% (a fluctuation of 19.55%). Please note the impact of related breaking news.

According to Jinshi reports, emerging market stock indices erased their gains due to the Federal Reserve's shift to a hawkish policy.