ChainCatcher news, according to the official website, the U.S. Securities and Exchange Commission (SEC) has released a policy statement regarding PoS network staking activities, clarifying that three types of staking activities do not constitute securities issuance: 1) Self-staking (node operators using their own crypto assets to participate in network validation); 2) Third-party non-custodial staking (asset owners retain control, only delegating validation rights); 3) Compliant custodial staking (custodians strictly segregate client assets, not used for operations or re-hypothecation).The statement points out that the network rewards obtained from the above staking activities are considered compensation for validation services, rather than investment returns based on the efforts of others in managing and operating, and therefore do not meet the securities definition standards of the Howey test. It also clarifies that four types of supporting services (penalty insurance, early unbonding, reward restructuring, asset aggregation) do not change the nature of staking. This policy does not apply to staking services that provide fixed returns or engage in trading using client assets.The SEC emphasizes that custodial institutions must ensure that staking assets: 1) are independent of operating funds; 2) are prohibited from being lent or re-hypothecated; 3) are not subject to third-party claims. This policy aims to provide regulatory certainty for compliant staking activities while maintaining enforcement authority over security tokens.

ChainCatcher news, according to Jinshi reports, Federal Reserve's Logan stated: "Tariffs may push up inflation, at least temporarily, while stimulative fiscal policy may boost demand. At the same time, uncertainty and market volatility may lead consumers to reduce spending."Logan also pointed out that high inflation expectations have become entrenched, and correcting them is costly. However, current monetary policy is in good shape, the risks to employment and inflation targets are "roughly balanced," and the labor market is strong, with inflation trends gradually approaching 2%.

ChainCatcher news, according to Bloomberg, Nigel Farage, leader of the Reform Party in the UK, will unveil a cryptocurrency policy plan similar to Donald Trump's style at the Bitcoin conference in Las Vegas this Thursday evening, in an attempt to attract more support from young British voters.According to the speech content disclosed in advance by the Reform Party, Farage will announce that if the Reform Party wins the next UK election, it will submit a new "Cryptocurrency Bill" to Parliament, aiming to make the UK a "crypto powerhouse."The bill includes: significantly reducing the capital gains tax on crypto investments from the current 24% to 10%; establishing a two-year regulatory sandbox to assist London’s financial district in crypto innovation; and prohibiting restrictions on services that accept crypto payments, thereby protecting the rights of consumers using cryptocurrencies.

ChainCatcher message, the Federal Reserve's meeting minutes mentioned that staff forecasts for actual GDP growth in 2025 and 2026 are lower than the predictions made at the March meeting, as the announced trade policies imply that actual economic activity will be more significantly hampered compared to the policies assumed in previous forecasts.It is expected that trade policies will also lead to a slowdown in productivity growth, thereby reducing potential GDP growth in the coming years. Due to the anticipated earlier onset of demand drag, which is expected to be greater than the response of supply, the output gap is expected to widen significantly over the forecast period. The labor market is expected to weaken substantially, with the unemployment rate projected to be higher than staff estimates of the natural rate of unemployment by the end of this year, and to remain above the natural rate until 2027.

ChainCatcher message, the Federal Reserve meeting minutes show that participants unanimously believe that the uncertainty regarding the economic outlook has increased, and that a cautious monetary policy is appropriate.

ChainCatcher news, according to The Block, the International Monetary Fund (IMF) confirmed on May 27 that under the $1.4 billion loan agreement reached in December 2024, the Salvadoran government has committed to maintaining its current Bitcoin reserve levels. As part of a 40-month financial aid program, the country's Congress has amended the Bitcoin Law, removing the requirement for the private sector to accept Bitcoin payments, with potential total aid reaching $3.5 billion.Although Salvadoran President Nayib Bukele publicly stated in March this year that he would continue to increase Bitcoin holdings and disclosed that the current unrealized loss is $357 million, he did not directly respond to the IMF's latest statement regarding the "restriction on new purchases" clause. The IMF noted in its February assessment that there are financial risks associated with the country's Bitcoin reserves that have yet to materialize.

ChainCatcher news, according to the Financial Times, the Indian cryptocurrency industry is actively lobbying the government to reduce the 30% capital gains tax and 1% transaction tax implemented since 2022.Currently, the high tax burden has led to over 90% of crypto transactions flowing overseas. With Trump likely to return to the White House and publicly support digital assets, the Indian government's attitude towards the crypto industry is becoming more lenient. The frequency of communication between the industry and policymakers has increased from once every six months to monthly or even weekly.Accounting firm Grant Thornton expects the Indian crypto market size to grow from the current $2.5 billion to over $15 billion by 2035.

ChainCatcher news, according to Decrypt, Asian crypto trading company Caladan announced that it will establish a representative office in New York, planning to allocate at least 5% of its global workforce to expand into the U.S. market and seek broker registration and membership with the Financial Industry Regulatory Authority (FINRA). The company has formed a three-person team led by Gian-Paul Caccia, including former employees from institutions such as Coinbase, BlackRock, and Bank of America, focusing on promoting institutional partnerships and compliance strategies.This move comes as the Trump administration adjusts the crypto regulatory framework, including appointing a pro-crypto SEC chairman, withdrawing multiple lawsuits, and supporting the GENIUS Act among other policies. The crypto lending platform Nexo, which previously exited the U.S. market, also announced its return last month, citing an improved policy environment. Trump's recent launch of the meme coin TRUMP on Solana has sparked political controversy, but his team continues to push for stablecoin legislation and industry dialogue.

ChainCatcher news, QCP released a briefing indicating that risk sentiment continues to fluctuate. Trump suddenly proposed raising EU tariffs on goods from 20% to 50%, which was then postponed to July 9, temporarily stabilizing the market. The volatility gap of BTC from June to July has compressed to below 1, suggesting that the market expects policy changes again. In terms of inflation, although oil prices have retreated, port congestion has spread from Europe to the Asia-Pacific region, which may drive up shipping costs and trigger a new round of indirect inflation.BTC rebounded to $110,000 after dropping to $106,000 over the weekend. BlackRock's IBIT has seen net inflows for 30 consecutive days, while TQQQ Nasdaq ETF continues to experience outflows, indicating a divergence in sentiment between crypto assets and tech stocks. In an environment of policy instability, the cryptocurrency market has shown relatively mature performance.

ChainCatcher news, according to Jinshi reports, institutional analysis indicates that the market expects the U.S. April core PCE price index month-on-month to rise by 0.1% next Friday, unchanged from March. Economists generally believe that although President Trump's tariffs will have a mild impact on April's price data, the effects of trade policy are expected to become more apparent as early as next month. Given that there are no significant signs of deterioration in the current labor market, Federal Reserve officials tend to maintain interest rates unchanged until the effects of trade policy adjustments are fully reflected in economic data.

ChainCatcher news, according to Jinshi reports, SEB Research's Chief Rate Strategist Jussi Hiljanen stated in a report that U.S. long-term Treasury yields may rise further, partly due to a decline in market confidence in U.S. policy.Jussi Hiljanen emphasized, "Trust in U.S. policy is eroding, and considering the costs of foreign exchange hedging, the lack of attractiveness in valuations, and investors turning to European bonds, all indicate that long-term U.S. yields face structural upward pressure. It is expected that long-term Treasury yields will rise moderately, but fiscal policy may trigger a significant repricing of U.S. Treasuries."

ChainCatcher news, Arthur Hayes stated in a recent interview that Bitcoin could rise to $200,000, emphasizing that the main driver of the current bull market may be the U.S. Treasury's policies rather than the Federal Reserve.Arthur Hayes analyzes that when the Federal Reserve reduces its purchases of U.S. Treasury bonds, although rising yields lead to tighter market liquidity, the Treasury's debt management and issuance plans could create new market momentum.

ChainCatcher news, according to Jinshi Data, Federal Reserve Cleveland President Mester and San Francisco President Daly stated on Tuesday evening local time that, given the uncertainty of the impact of the Trump administration's policies, the best course of action for the Federal Reserve now is to wait before making any further policy decisions.The two regional Fed presidents reiterated during their joint appearance at the Atlanta Fed Bank conference that, due to the uncertainty of trade policies, it is difficult to assess the direction of the economy, making it hard to determine how monetary policy should respond.

ChainCatcher news, according to The Block, although the deadlines for several executive orders have passed without public announcement, analysts believe that Trump's upcoming Memecoin gala and Vance's Bitcoin 2025 keynote speech may provide new information.Analysts at K33 stated that the development of crypto policy remains a key catalyst, urging participants to pay attention to potential developments in strategic Bitcoin reserves in the coming days.However, analysts warned that recent executive orders could have far-reaching impacts on the digital asset market. The Trump administration has signed multiple executive orders, including the establishment of strategic Bitcoin reserves and a U.S. digital asset reserve, aimed at making the U.S. a global cryptocurrency hub.

ChainCatcher news, according to E24, former State Secretary of the Norwegian Ministry of Finance, member of the Norwegian Central Bank Supervisory Council, and head of public affairs at SpareBank 1, Morten Søberg, will become the Secretary General of the newly established Bitcoin Policy Institute (BPI) in August 2025. The organization aims to oppose the Bitcoin ban, promote legislative openness, and enhance public awareness of Bitcoin and the monetary system.Currently, BPI has received approximately 1.517 BTC (about 1.6 million Norwegian kroner) in donations and has 121 paying members.

ChainCatcher news, according to Cointelegraph, Panama City Mayor Mayer Mizrachi hinted at the establishment of a city-level Bitcoin reserve in a post after meeting with two Bitcoin policy leaders from El Salvador. Mizrachi posted the message about "Bitcoin reserves" on the social platform X after meeting with El Salvador's Bitcoin advisor Max Keiser and the head of the Bitcoin office Stacy Herbert. The three discussed how Panama and El Salvador could leverage renewable energy to promote the development of Bitcoin mining. Additionally, Panama City will incorporate El Salvador's financial literacy textbook "What is Money?" into its online library system.

ChainCatcher news, according to Cointelegraph, the Bank for International Settlements (BIS) has partnered with the Innovation Center of the Federal Reserve Bank of New York to conduct research testing a tokenized monetary policy toolkit based on smart contracts. This experiment, named Project Pine, aims to explore how blockchain technology can help central banks achieve rapid policy responses in future tokenized financial systems.According to a report released by the BIS on May 15, the research team developed a prototype of a "universal customizable tokenized monetary policy toolkit" and validated its flexibility in hypothetical scenarios. The results showed that central banks could instantly adjust policy tool parameters, such as collateral standards and interest rates, and complete the substitution of liquidity collateral and non-liquid collateral within 10 minutes.The BIS emphasized that if currency and securities tokenization are widely adopted, smart contracts will become the core technology for implementing monetary policy. This framework allows central banks to "instantly" deploy new facilities, such as adjusting reserve interest rates or providing liquidity support, enabling rapid responses to crises like declines in collateral value. The report stated that this speed and flexibility provide central banks with new ideas for addressing "emergencies and rapidly evolving risks."However, the report also pointed out the limitations of the current financial infrastructure. Most traditional systems are not yet compatible with advanced use cases like smart contracts, and central banks may face challenges in advancing technological integration. The testing of Project Pine used the Ethereum ERC-20 token standard and combined it with another "access control" standard to ensure compliance.In recent years, financial institutions have accelerated their layout of tokenization technology. At the Consensus 2025 conference, Joseph Spiro, Director of Digital Asset Products at the Depository Trust & Clearing Corporation (DTCC), stated that stablecoins are an "ideal" tool for real-time collateral management in transactions such as loans or derivatives. This collaboration between the BIS and central banks further confirms the trend of exploration of blockchain technology in the traditional financial sector.