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According to South Korean media Edaily, the Financial Intelligence Unit (FIU) of South Korea announced that the amendment to the enforcement decree of the Specific Financial Information Act, aimed at strengthening regulation of the cryptocurrency industry, has been approved by the State Council.The main changes of the new regulations include: regulatory agencies will conduct stricter reviews of the qualifications of major shareholders of exchanges, while requiring that the debt ratio of exchanges must not exceed 200%. In addition, the previous Travel Rule only applied to transactions over 1 million won, but will now cover all transfers without a monetary threshold. Transactions involving overseas exchanges and personal wallets will be subject to differentiated control based on risk levels. The new regulations also require exchanges to be equipped with professional personnel and necessary equipment, and to establish internal control systems, with existing exchanges granted a one-year grace period. Some provisions will take effect on August 20, while those related to the Travel Rule will be officially implemented six months later.

Robinhood announced on the X platform that it has lowered the gas fee subsidy threshold for Robinhood Wallet on the Robinhood Chain from $5 to $0.50, a reduction of 90%.Robinhood stated that after the adjustment, more users will be able to enjoy gas fee subsidies when conducting swap transactions, and this subsidy policy will last until September 29.Previously, Robinhood Wallet had already covered part of the on-chain transaction fees for users through the gas sponsorship mechanism. This reduction in the subsidy threshold aims to further lower the entry costs for users into the Robinhood Chain ecosystem and enhance the activity of on-chain transactions.

According to Daum, after South Korea's financial regulatory authorities raised the base margin for domestic and foreign single-stock leveraged products from 10 million won in securities to 30 million won in pure cash starting July 31, South Korean retail investors began to rapidly adjust their portfolios.According to data from the Korea Securities Depository, Tesla's 2x leveraged product TSLL recorded a net purchase of 14.58 million USD on August 3, but the purchase amount on the 4th plummeted from the previous day's 15.6 million USD to 1.56 million USD, while the selling amount rose to 8.68 million USD, resulting in a net sell of 7.11 million USD for the day. During the same period, Tesla's spot net purchases reached 42.3 million USD, more than five times the net purchase amount of TSLL.Micron Technology and SanDisk also showed similar divergence—Micron's 2x leveraged product flipped from a net purchase of 10.81 million USD on the 3rd to a net sell of 15.98 million USD on the 4th, while SanDisk's 2x leveraged product changed from a net purchase of 17.74 million USD to a net sell of 33.74 million USD. Meanwhile, the spot net inflows for the two companies were 148 million USD and 145 million USD, respectively, indicating a significant trend of funds shifting from leveraged tools to the underlying stocks.The tightened regulations require that the base margin must be paid in cash, with alternative securities such as stocks, ETFs, and bonds no longer counted, and existing investors must also meet the new standards when making additional purchases; selling is unrestricted, but the funds from sales must be settled after T+2 days before they can be counted as cash margin.The new rules were originally planned to be implemented in phases in August, but due to concerns that limiting it to Korean products would lead to a capital influx into overseas leveraged products like Tesla and Nvidia, creating a balloon effect, South Korean regulators moved the implementation date up to July 31 and simultaneously covered both domestic and foreign products.South Korean investors have reacted strongly, believing that extending measures aimed at local market volatility to overseas products constitutes excessive intervention, and that only South Korean investors must meet the 30 million won cash threshold, putting them at a disadvantage in global competition.

Michael Saylor posted on the X platform stating that at block height 961,022, BIP-110 received 38 signals, accounting for 2.7%, and its voluntary threshold of 55% can no longer be reached.At block height 961,632, BIP-110 nodes will reject blocks that have not signaled. Unless major miners change their stance, Bitcoin will continue to operate normally, while BIP-110 will stagnate or fork into an irrelevant state. Its supporters should stop pushing it forward.

After South Korea raised the margin requirements for single-stock leveraged ETF investors, the trading activity of related products has significantly decreased, with trading volume dropping to about one-tenth of the previous peak level.According to data from the Korea Exchange, the total trading volume of 16 single-stock leveraged and inverse ETFs related to Samsung Electronics and SK Hynix in the KOSPI market was 12.388 trillion won within two trading days after the new measures were implemented, a decrease of 58.6% compared to 29.907 trillion won on the day the measures were implemented (July 31).Previously, South Korean regulators raised the minimum cash margin requirement for single-stock leveraged ETF investors from 10 million won to 30 million won. Compared to the trading volume of 124.485 trillion won on the last trading day before the measures were implemented (July 30), the current trading scale of related products has dropped to about one-tenth.The enthusiasm of retail investors has cooled significantly. Data shows that the trading volume of retail investors in single-stock leveraged and inverse products has fallen to 250.7 billion won, less than a quarter of the 929.9 billion won on July 31.Analysts indicate that after raising the margin threshold, the effect of restricting speculative capital inflow has begun to show, and the trading pattern of retail investors continuously buying leveraged products during declines in the underlying stocks is changing.

The EU's Markets in Crypto-Assets Regulation (MiCA) competition phase is coming to an end, but the real challenges for businesses are just beginning. The high costs of maintaining a compliant operational system may change the landscape of the European crypto industry. In the future, the focus of industry competition may shift from "who can obtain a license" to "who has the capacity to bear regulatory costs," driving companies to achieve scalable development through mergers, joint ventures, or partnerships with banks.As MiCA gradually takes effect and the UK's crypto regulatory framework is about to take shape, the European crypto industry is entering a new phase of consolidation. Industry insiders believe that high regulatory standards may spur a new wave of mergers and acquisitions, and cooperation between crypto-native companies and traditional financial institutions will deepen further. This trend in the UK market may be even more pronounced. The UK's Financial Conduct Authority (FCA) is developing a new regulatory framework for crypto assets, which is expected to incorporate crypto businesses into the existing financial services regulatory system, subjecting them to capital, operational, and customer asset protection requirements similar to those faced by traditional investment institutions.Steven Lightstone, a partner at Morgan Lewis's London office and co-head of the global fintech team, stated that the FCA aims to promote market competition and support new entrants, but its regulatory standards will be very strict when it comes to consumer protection. Unlike the EU's independently operating MiCA framework, the UK approach will directly utilize the existing financial regulatory system to manage crypto businesses. Meanwhile, the increase in regulatory certainty is driving European banks to accelerate their entry into the digital asset space. Sygnum Europe CEO Simon Schneider noted that currently, less than 20% of banks in Europe offer crypto-related services, indicating a significant market gap. The greatest value of MiCA is not just in creating a new licensing system, but in providing legal certainty for financial institutions to enter the digital asset market.He pointed to Switzerland as an example, where after the introduction of regulations on distributed ledger technology, most large Swiss banks began offering digital asset services, a path that may be replicated in other parts of Europe in the future. In the future, banks may not necessarily replace crypto-native companies but are more likely to rely on specialized infrastructure service providers to collaborate in areas such as custody, brokerage, staking, and asset tokenization. As companies that fail to obtain MiCA licenses gradually exit the European market, assets may further concentrate among regulated entities. However, Schneider believes that self-custody models and institutional custody models will continue to coexist in the long term. Industry insiders believe that the European crypto industry is entering a "regulation-driven consolidation cycle." For crypto startups that previously relied on rapid innovation and asset-light models, the core competitiveness in the future may no longer be just technological speed, but compliance capability, capital scale, and the ability to integrate financial infrastructure.

According to the Korea Herald, the Financial Services Commission, the Financial Supervisory Service, and the exchange have decided that starting from July 31, the minimum deposit requirement for single stock leveraged ETFs and ETNs will be raised from 10 million KRW (approximately 51,000 USD) to 30 million KRW (approximately 153,000 USD), and only cash will be accepted; stocks, bonds, and other securities will no longer be recognized as collateral. The new regulations apply to both domestic and overseas listed products, and existing investors must also meet the requirements when making additional purchases, but there are no restrictions on selling. In addition, the funds from sales can only be counted as deposits after 2 business days following settlement, and loans secured by the sale proceeds will not count as deposits.The product was launched on May 27, involving 16 underlying assets, with an initial market value of approximately 4.4 trillion KRW, which has expanded to 11.9 trillion KRW as of July 15. Daily trading volume increased from 10.4 trillion KRW on the day of listing to about 13 trillion KRW. Previously, South Korea had suspended the listing of new products and prohibited related advertisements starting from July 16, tightening the discount rate management standard from 3% to 2%. Market rumors suggest that regulators are also considering reducing the number of liquidity providers, widening the bid-ask spread, and lowering the leverage ratio from 2 times to around 1.5 times.

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 CoinDesk, the UK's Financial Conduct Authority (FCA) officially announced a regulatory framework for crypto assets this week, which has been widely regarded by the industry as an international plan emphasizing "global liquidity access," but its implementation still faces significant compliance and approval challenges.Under the new regulations, the FCA allows overseas trading platforms to serve UK users through locally authorized branches and to access global trading infrastructure, thereby avoiding the creation of a closed domestic liquidity pool. At the same time, stablecoins not issued in the UK can also circulate in the UK market, a stance that is seen as a clear distinction from the European Union's Markets in Crypto-Assets Regulation (MiCA) regional isolation model.The "Qualified Crypto Asset Trading Platform" (QCATP) mechanism in the new regulations is viewed as a key structure connecting global exchanges with the UK market, expected to enhance price efficiency and market depth. However, industry insiders point out that the FCA has not clarified which jurisdictions are recognized as having "comparable regulatory protection," and this uncertainty may affect corporate layout decisions.In addition, rules related to decentralized finance (DeFi) are still not fully defined, and some practitioners worry that early proposals may restrict centralized platforms' access to the DeFi ecosystem, causing the UK to lag behind other jurisdictions in related innovation fields.On the compliance front, lawyers have pointed out that under the new Financial Services and Markets Act framework, the authorization process may be extremely stringent, with historical data showing that the FCA's anti-money laundering registration approval rate is less than 15%. The new system will also cover multi-dimensional regulatory requirements such as consumer responsibility, capital adequacy, operational resilience, and executive accountability, significantly raising the entry threshold.The industry believes that the framework overall provides a systemic basis for institutional funds to enter the crypto market, but whether the UK can truly become a global crypto hub will depend on the certainty of regulatory enforcement and approval efficiency in the coming months.

The growth of Gate options users and the accumulation of positions have shown significant improvement. Data shows that the number of new users in June increased by 34.7% compared to the same period in May; the trading volume of new users increased by 34.2%; and the average total position increased by 95.1%, indicating that options products are continuously improving in user conversion, trading participation, and capital accumulation.To further lower the threshold for options trading, Gate's simplified options have officially launched. Users do not need to manually filter complex options chains; they only need to determine whether BTC/ETH will rise or fall, input the target price and expiration date, and the system will automatically recommend matching contracts and bring them to the order page with one click, helping new users complete options trading with a lower barrier.With the launch of simplified options, Gate options are expected to further enhance the conversion efficiency for newcomers, encouraging more users to move from basic judgments of "bullish or bearish" into more flexible options trading and risk management scenarios.

With the current price of Bitcoin at $59,291 and a 200-day dollar-cost averaging (C200) of $75,821, the Bitcoin Ahr999 "bottom-fishing" indicator is currently at 0.285. The previous low this year was 0.27 on February 6.According to statistics, an Ahr999 below 0.3 is a rare case of extreme undervaluation, mainly occurring during significant market crashes or moments of panic. Historically, there have been the following major instances of falling below 0.3:In November 2011, when the price of Bitcoin was only in single digits and had not yet reached widespread consensus;The bottom of the bear market in 2018 (lowest around 0.24);The "March 16 flash crash" in 2020 (COVID panic);In June 2022, during the ETH liquidation crash and the FTX crash in November, it touched around 0.27 multiple times;In February 2026, it reached 0.27-0.29, close to historical lows.It is reported that this indicator assists Bitcoin dollar-cost averaging users in making investment decisions in conjunction with timing strategies. This indicator implies the short-term yield of Bitcoin dollar-cost averaging and the deviation of Bitcoin prices from expected valuations. Historically, the Ahr999 index has been below the bottom line (0.45) for 655 days.

Coinbase CEO Brian Armstrong posted on the X platform that the U.S. should reconsider the accredited investor laws, as the time for company privatization is getting longer. Only accredited investors (i.e., the wealthy) can participate in early investments, while ordinary retail investors can only enter after an IPO, by which time most of the upside potential has already been realized. The original intention of these rules was to protect ordinary investors from fraud, but in reality, they often make it harder for less affluent individuals to build wealth. Armstrong proposed two possible reform paths: one is to replace the existing rules with ability-based standards, such as qualifying as an accredited investor through a financial literacy test; the other is to completely eliminate the rule, allowing adults to assess risks on their own while maintaining information disclosure requirements and fraud enforcement measures.

The Solana Foundation announced the launch of the Frontier Traders program, primarily aimed at top institutions and traders in the emerging asset sector. The program will kick off on June 11 with a VIP tier, with a minimum entry requirement of: a trading volume of $500 million on any chain platform in the past 30 days, and an Open Interest of $16 million.VIP members can enjoy trading fee rebates, priority participation in the launch of the Asset Express project, exclusive RPC services, as well as quarterly briefings and invitations to closed-door events. Traders who do not meet the VIP threshold can still participate in spot and perpetual contract trading activities, with the first SpaceX ($SPCX) trading activity prize pool set at $25,000, which will open tomorrow.

According to Bitcoin Magazine, Coinbase's Vice President of Tax, Lawrence Zlatkin, has proposed to U.S. lawmakers to establish a de minimis capital gains tax exemption threshold for everyday small Bitcoin transactions, arguing that "Americans shouldn't have to hire an accountant just to buy a pair of jeans with BTC."

According to the on-chain analysis platform CryptoQuant, the Bitcoin "Profit Supply Percentage" indicator is approaching the critical threshold of 45%. Historical data shows that this level is usually associated with periods of high market pressure and significant capitulation risk. In contrast, during bull market peaks, this indicator often exceeds 90%. Current data indicates that a large number of Bitcoin holdings have shifted from profit to loss, and the market is undergoing a deep expectation reset rather than being in an exuberant phase.From an on-chain perspective, profit compression often drives the chips to migrate from weak hands to long-term holders, which may exacerbate short-term volatility. However, historically, such redistribution processes help form a healthier market structure, and long-term accumulation opportunities may be emerging.

According to BBX data, last week the expansion of institutional crypto infrastructure and the differentiation of cash flow management models for mining companies were implemented simultaneously. The core dynamics are as follows:Morgan Stanley (NYSE: $MS) Wealth Management Department and Galaxy Digital Inc. (NASDAQ: $GLXY) officially announced a recommended cooperation agreement on June 5: allowing Morgan Stanley's qualified high-net-worth clients to lend directly held BTC, ETH, or SOL to Galaxy Digital. After Galaxy, as an Authorized Participant (AP), completes the creation of physical shares, the corresponding spot crypto ETP shares (including Morgan Stanley Bitcoin Trust, NYSE Arca: $MSBT) will be directly transferred to the client's brokerage account; the converted ETP shares can be used as collateral for account financing. Key parameters: Galaxy Digital has reduced the minimum trading threshold for Morgan Stanley's recommended clients from $25 million to $5 million, significantly expanding the coverage of qualified high-net-worth clients; traditional similar institutional trades usually take more than four weeks to complete, while the new mechanism can shorten the entire process by up to 75%. The legal basis for this cooperation is the SEC's approval of the physical conversion ETF mechanism for crypto assets in July 2025, allowing direct physical conversion between directly held crypto assets and spot crypto ETFs, with Morgan Stanley's $MSBT being one of the first beneficiary products.Bitdeer Group, Inc. (NASDAQ: $BTDR) reported that as of the week of June 5, 2026, Bitcoin mining output was 205.3 BTC, with the same amount sold, resulting in a net holding of 0 BTC, maintaining a current BTC position of zero, continuing the "output equals sale" cash flow management strategy; the proceeds from sales are used to support the R&D of its SEALMINER mining hardware product line and the expansion of hash power hosting services. Bitdeer's zero holding model sharply contrasts with mining companies like CleanSpark, Inc. (NASDAQ: $CLSK) (holding approximately 13,561 BTC) and MARA Holdings, Inc. (NASDAQ: $MARA) (holding approximately 35,303 BTC), which continue to accumulate Bitcoin, representing another financially rational path for mining companies during the BTC price downturn cycle—exchanging immediate liquidity for stable operational cash flow, avoiding the impact of single asset price fluctuations on the balance sheet.

A petition in South Korea calling for the abolition of a 22% tax on cryptocurrency investment gains has reached the threshold of 50,000 signatures and will be reviewed by the National Assembly's Finance and Economy Planning Committee. This tax rate is set to take effect in January 2027. The petitioners argue that this tax system imposes financial and reporting burdens on investors while limiting upward mobility opportunities for young people who have been excluded from the housing market due to soaring property prices.The petitioners point out that imposing a 22% tax rate on cryptocurrency gains while offering more favorable tax treatment to other asset classes will weaken South Korea's share in the cryptocurrency market. They warn that forcibly imposing short-term taxes could lead to industry shrinkage and the outflow of capital and talent in the long run.Approximately 32% of South Korea's population holds cryptocurrency, but the market is contracting. The total value of cryptocurrency assets held by South Koreans has decreased from about 121.8 trillion won in January 2025 to about 60.6 trillion won in February 2026, and the daily trading volume of the five major exchanges has dropped from $11.6 billion in December 2024 to $3 billion in February.