5.15 AI Daily: The encryption industry is迎来新一轮变革, with AI and regulation becoming the focus.

1. Headlines

OpenAI has opened the GPT-4.1 model to ChatGPT users, marking the full arrival of the AI programming era.

OpenAI announced that, at the request of many users, GPT-4.1 will be directly available in ChatGPT starting today. GPT-4.1 is a specialized model focused on coding tasks and instruction following. Plus, Pro, and Team users will be able to access GPT-4.1 through the "More Models" dropdown menu in the model selector. Enterprise and educational users will gain access in the coming weeks.

The launch of GPT-4.1 marks OpenAI's official entry into the field of AI programming. This model is specially trained to efficiently perform programming tasks such as code generation, code review, and bug fixing. Compared to GPT-4, GPT-4.1 has made significant improvements in programming capabilities, providing developers with more professional and efficient AI-assisted coding services.

Industry insiders believe that the launch of GPT-4.1 will further promote the integration of AI and programming, bringing revolutionary changes to the software development industry. In the future, AI is expected to play an increasingly important role in areas such as code writing, software testing, and system optimization, significantly improving development efficiency and promoting innovation in the software industry. At the same time, AI programming will also bring new challenges to the job market, requiring relevant practitioners to enhance their skills to adapt to the arrival of the AI era.

2. Cardano founder reveals details of the "Glacier Drop" airdrop plan for the privacy sidechain Midnight.

Cardano founder Charles Hoskinson announced the details of the "Glacier Drop" airdrop plan for the privacy sidechain Midnight at the Consensus 2025 conference. The plan will distribute governance tokens NIGHT and privacy tokens DUST to 37 million users across 8 mainstream public chains, explicitly excluding venture capital shares, with all tokens being directed to ordinary users.

Hoskinson also proposed the "Collaborative Economics" model, allowing developers to use native tokens like ETH and SOL to pay for cross-chain application fees, and validators can also collaborate across chains to earn profits. The Midnight testnet has been launched, and the mainnet is expected to be launched by the end of 2025.

This airdrop is seen as a strategic move to alleviate industry fragmentation and respond to the entry of tech giants. As privacy protection and data sovereignty become increasingly important, Midnight is expected to become a significant complement in the public chain ecosystem, providing users with a safer and more private application environment. At the same time, the airdrop plan is directed at ordinary users, which is beneficial for expanding the Cardano user base and enhancing community vitality.

Industry insiders point out that the success of Midnight relies on cross-chain collaboration and ecological co-construction. The "collaborative economics" model proposed by Hoskinson provides new ideas for cross-chain applications, which is expected to promote resource sharing and value circulation among different public chains, facilitating industry development. However, it is also necessary to be vigilant about the potential risks brought by privacy protection, and strengthening regulation is key.

3. Deutsche Bank: The Federal Reserve may not cut interest rates until December.

Analysts at Deutsche Bank Research stated in a report that the Federal Reserve may keep the policy rate unchanged before a rate cut in December, and then further ease policy next year. "Our baseline assumption remains that the next rate cut will be in December, followed by two more cuts in the first quarter of 2026, each by 25 basis points."

Analysts say that the easing of tensions between China and the United States has reduced the risk of further deterioration in the U.S. labor market, but other tariff measures may keep inflation at disturbingly high levels.

The Federal Reserve hinted earlier this month that it would pause its interest rate hike cycle at the June meeting. However, the latest employment and inflation data indicate that the economy is still overheating, necessitating further policy tightening to control price pressures. Therefore, Deutsche Bank expects the Federal Reserve to delay its interest rate cut timeline.

This expectation diverges from the market's view. Investors currently anticipate that the Federal Reserve will begin to lower interest rates in September and will reduce them to below 5% by the end of 2024. Deutsche Bank's perspective implies that interest rates may remain elevated for a longer period, which could increase the risk of an economic recession.

Overall, Deutsche Bank's forecast reflects ongoing concerns about inflation and the challenges the Federal Reserve faces in achieving a "soft landing." This may further exacerbate volatility in financial markets and affect investors' risk appetite.

4. Nebraska increases Bitcoin mining difficulty with new legislation.

The Nebraska legislature has just passed a bill regulating Bitcoin miners. The LB 526 bill requires large miners to bear the costs of infrastructure upgrades, requires miners to report energy usage, and allows authorities to interrupt services. The bill passed unanimously with a vote of 49:0.

The Bitcoin mining bill LB 526 in Nebraska is not a huge setback for companies in the state. The bill is just over two pages long and very straightforward. Unlike anti-mining bills, it does not address carbon emissions or other environmental impacts. Instead, it focuses almost entirely on the electrical grid.

Supporters of the bill believe that it will help protect the reliability and stability of the power grid, preventing large miners from overloading the power system. At the same time, requiring miners to report their energy usage will also help regulators better understand the development status of the industry.

However, critics have pointed out that the bill may increase operational costs for miners, affecting Nebraska's competitiveness in attracting mining business. Some miners may choose to relocate to other states, resulting in local job and tax losses.

Overall, this initiative in Nebraska reflects regulators' concerns about the impact of Bitcoin mining on the power system. As the mining industry continues to grow, finding a balance between energy consumption, environmental impact, and industrial development will be a common challenge faced by governments around the world.

5. Loopscale: Law enforcement agencies assist in identifying the masterminds behind the vulnerability attacks, and the incident investigation has concluded.

The modular lending protocol Loopscale has released the final update on the hacking incident on the X platform, which indicates that, with the assistance of law enforcement, the mastermind behind the vulnerability attack on April 26 has been identified. Currently, they are sharing relevant information with other protocol teams to help prevent similar incidents and support the broader ecosystem's security.

The relevant investigation has now concluded, and the focus of subsequent work will shift back to building and strengthening security assurances. All functionalities will be restored soon, and new standards will be established for on-chain lending.

This incident has once again sparked widespread attention in the industry regarding blockchain security. Although blockchain technology itself has characteristics of decentralization and immutability, security risks such as smart contract vulnerabilities and hacker attacks still exist. Once an attack occurs, it often leads to significant economic losses and a crisis of trust.

Industry insiders point out that raising security awareness, strengthening security audits, and establishing rapid response mechanisms are urgent issues that need to be addressed in the current blockchain industry. At the same time, the involvement of law enforcement agencies can also help combat criminals and maintain the healthy development of the blockchain ecosystem. In the future, blockchain security construction will require the joint efforts of the entire industry. Only by implementing comprehensive prevention measures can we truly unleash the immense potential of blockchain technology.

2. Industry News

1. Bitcoin breaks through the $103,000 mark again after a short-term pullback.

Bitcoin has once again broken through the $103,000 mark after a brief pullback. Analysts believe that this increase is mainly driven by continued purchases from institutional investors and an overall positive sentiment in the cryptocurrency market. Nevertheless, some investors remain cautious about whether Bitcoin can sustain its rise in the short term, fearing a potential profit-taking scenario.

Exchange data shows that Bitcoin reached a daily high of $103,500, with a total market capitalization exceeding $2 trillion. Analysts indicate that after Bitcoin breaks the $103,000 mark, the next significant resistance level is around $118,000. If it can successfully break through, Bitcoin is expected to experience a new round of upward trends in the short term.

At the same time, the trading volume of Bitcoin and the number of active addresses have also seen a significant increase, reflecting investors' optimistic sentiment about the future trend of Bitcoin. However, some analysts warn that Bitcoin may face profit-taking pressure from short-term investors in the short term, and investors need to closely monitor the risks.

2. Ethereum's daily increase exceeds 42%, driven by demand growth from the Pectra upgrade.

Ethereum's price has surged over 42% in the past 24 hours, primarily driven by expectations of the upcoming Pectra upgrade. Analysts believe that the Pectra upgrade will significantly enhance Ethereum's scalability, cost efficiency, and transaction speed, thereby increasing demand for Ethereum.

According to the data, Ethereum hit a high above $2,700 during the day, with a total market capitalization of more than $350 billion. Analysts note that after Ethereum broke through the $2,700 mark, the next significant resistance is around $3,000. If it can successfully break through, Ethereum is expected to continue its upward trend in the short term.

At the same time, the trading volume and the number of active addresses of Ethereum have also seen significant growth, reflecting investors' optimistic expectations for Ethereum's performance after the Pectra upgrade. However, some analysts have warned that Ethereum may face profit-taking pressure in the short term, and investors should remain cautious.

3. The activity level of the Solana ecosystem continues to rise, and the price of SOL is expected to continue to increase.

The activity level of the Solana ecosystem continues to rise, driving the SOL price to likely maintain an upward trend in the short term. Data shows that decentralized finance activities and developer activity on the Solana network have both seen significant growth, reflecting an increasing preference among investors for the Solana ecosystem.

Analysts point out that the continued rise in the activity of the Solana ecosystem is mainly due to its advantages such as low transaction fees and high throughput. Compared to other public chains like Ethereum, Solana is more attractive in terms of performance and cost, which has drawn more developers and capital into the ecosystem.

In addition, the continuous emergence of new projects in the Solana ecosystem has also provided momentum for the rise in SOL prices. Analysts expect that as more high-quality projects are launched, the Solana ecosystem will further expand, thereby bringing new upward potential for SOL prices. However, some analysts also warn that the Solana ecosystem is still in its early development stage and faces certain risks, so investors should remain cautious.

( 4. The performance of altcoins has diverged, with some popular coins rising over 100%.

In the context of an overall rise in the cryptocurrency market, altcoins have shown significant divergence in performance. Some popular altcoins have increased by over 100%, while others have experienced declines. Analysts believe this is mainly influenced by investor sentiment and speculation expectations.

Data shows that in the past week, popular altcoins like LAUNCHCOIN and YAPPER have seen price increases of over 100%, with total market capitalization rapidly expanding. Analysts indicate that the surge in these coins is mainly due to investors' optimistic expectations for their future development prospects, as well as the hype on social media.

At the same time, some altcoins have also seen a decline, such as MOODENG and Jellyjelly. Analysts point out that the decline of these coins may be related to investors taking profits, or it could be due to a lack of real use cases leading investors to abandon them.

Overall, the altcoin market carries high risks, and investors need to have a thorough understanding of the development prospects of individual coins and manage their risk exposure. Analysts recommend that investors closely monitor project developments and adjust their investment strategies in a timely manner.

) 5. Regulatory policies are tightening, and stablecoins face more scrutiny.

As regulatory agencies pay increasing attention to stablecoins, they face more scrutiny and regulation. Central banks and regulatory bodies in multiple countries have made recommendations regarding the regulation of stablecoins, aiming to strengthen oversight of the issuance and circulation of stablecoins.

Analysts indicate that the increasing strictness of stablecoin regulation primarily stems from regulatory agencies' concerns about their potential risks. Some regulators believe that stablecoins could pose a threat to the traditional financial system and may be used for illegal activities such as money laundering.

Therefore, central banks and regulatory agencies in multiple countries have proposed recommendations for the regulation of stablecoins, including implementing stricter scrutiny on stablecoin issuers and restricting the circulation scope of stablecoins. Analysts expect that stablecoin regulation will tighten further in the future, and investors need to closely monitor changes in related policies.

Overall, changes in regulatory policies will have a significant impact on the development of stablecoins. Investors need to fully assess regulatory risks and adjust their investment strategies based on actual circumstances.

3. Project News

1. Privasea launches LoyalDrop airdrop, 750,000 wallets receive PRAI tokens.

The AI project Privasea has announced the launch of the LoyalDrop airdrop event, aimed at rewarding loyal users within its ecosystem. This airdrop will cover 750,000 eligible wallets, including ImHuman application users, DeepSea testnet node operators, and more.

Privasea is a project focused on privacy computing and artificial intelligence, aimed at protecting user data privacy through innovative technology. Its core product, ImHuman, is an AI-based anti-email application. This airdrop event will distribute PRAI tokens to participants as a reward for user support and contributions.

According to the airdrop rules, users can receive different proportions of PRAI tokens at different time periods. If claimed during the token issuance ###TGE###, users can receive 50% of PRAI; claiming one month later will yield 75%; three months later will yield 100%; six months later will yield 150%; and twelve months later will yield 200%. This design aims to encourage users to hold PRAI tokens for the long term.

The airdrop event reflects Privasea's emphasis on its community users and is expected to further promote the development of its ecosystem. Analysts believe that this move will enhance user stickiness to the project and inject new momentum into Privasea's development in the field of privacy computing and artificial intelligence.

( 2. U.S. retail sales data may trigger significant market volatility, with Powell's speech approaching.

On May 15th, the United States will release retail sales data and the Producer Price Index ) PPI ###. These key economic indicators, known as "terrifying data," could significantly impact the market's expectations for the Federal Reserve's future interest rate hikes, triggering substantial market volatility.

At the same time, Federal Reserve Chairman Powell will speak later that day, and his remarks will be closely watched by the market. Investors generally expect Powell to reiterate his stance on curbing inflation, suggesting that there may be further interest rate hikes in the future.

Analysts point out that if data shows that inflationary pressures remain high, the Federal Reserve may be forced to adopt a more hawkish stance and increase the pace of rate hikes, which would put pressure on risk assets. Conversely, if the data shows weakness, it may increase the likelihood of the Federal Reserve pausing rate hikes or starting to cut rates within the year, which would be beneficial for risk assets.

Overall, the key economic data on May 15 and Powell's speech will bring significant uncertainty to the market, and investors need to pay close attention and be prepared to respond. Before the data is released and Powell's speech, the market may remain cautious.

( 3. Ripple meets with UAE officials to promote the development of blockchain and digital payments.

Ripple Labs met with UAE officials at the Dubai FinTech Summit to discuss topics such as digital payment infrastructure and accelerating financial innovation, showcasing Ripple's growing influence in the region.

Ripple is a technology company focused on cross-border payments and digital assets, and its flagship product XRP is considered one of the most promising infrastructures for central bank digital currencies ) CBDC ###. The meeting with UAE officials aims to promote the development of digital payments and blockchain technology in the region.

Ripple's collaboration with the Dubai International Financial Centre ( DIFC ) will help promote the adoption of blockchain and cryptocurrency in the region. Ripple CEO Brad Garlinghouse stated that this partnership is expected to drive broader use of XRP in the Middle East.

Analysts believe that Ripple's interaction with the UAE authorities reflects the region's growing interest in blockchain technology and digital assets. As a fintech hub, the UAE is expected to become an important source of innovation in blockchain and digital payments. As an industry leader, Ripple plays a significant role in promoting the development of this field.

( 4. Messari Report: Mind Network Leads the Wave of Decentralized Confidential Computing

The well-known crypto analysis agency Messari, in its latest research report, named Mind Network as a representative project in the decentralized confidential computing )DeCC### field, due to its pioneering deployment of fully homomorphic encryption (FHE) in mainnet applications, and its promotion of the ecological integration of multiple scenarios such as artificial intelligence, cross-chain, and confidential computing.

Fully homomorphic encryption is a type of encryption technology that allows arbitrary computations on encrypted data without the need for decryption, and is considered a core pillar of the next generation of decentralized confidential computing. Mind Network has achieved a breakthrough in on-chain confidential computing by deploying FHE to the mainnet, opening up new avenues for development in the DeCC field.

The report indicates that DeCC is undergoing a transition from concept validation to infrastructure, with its development primarily relying on four core components: AI agents, development frameworks, protocol layers, and trading markets. Recent industry developments, such as Tether launching the QVAC project, confirm the growth trend of DeCC.

However, the report also warns of three major risks in this field: unclear ownership definitions of AI agents, insufficient operational transparency, and potential abuse issues in decentralized governance. Researchers believe that if an effective regulatory framework is established, DeCC could reshape the on-chain financial system.

( 5. Pi Network will launch a major update at the Consensus Conference, welcoming a "transformation."

Pi Network announced that it will make significant announcements regarding We, decentralized finance, and real-world applications at the 2025 Consensus Conference, marking an important milestone for the project. It has been revealed that Pi Network is removing central nodes, preparing to go open-source, and collaborating with major participants such as Google Cloud and Visa.

Pi Network is a decentralized cryptocurrency project aimed at achieving fair distribution through mobile mining. Since its launch in 2019, the project has attracted over 35 million users. However, due to not being fully decentralized yet, Pi has faced skepticism.

The major updates at this consensus conference will propel the Pi Network towards true decentralization. The removal of central nodes and open-source code is expected to enhance the project's transparency and security. Collaborations with Google Cloud and Visa will bring more real-world application scenarios to the Pi Network.

Analysts believe that Pi Network's move aims to reshape its image and gain more recognition. Everyone is looking forward to whether Pi Network can eventually be listed on mainstream exchanges or enter the DeFi ecosystem. The success or failure of these strategic initiatives will determine the future development direction of Pi Network.

IV. Economic Dynamics

) 1. The probability of the Federal Reserve maintaining interest rates in June is as high as 91.7%.

Economic background: The US economy experienced high inflation and interest rate hikes in 2022, but the latest data shows that inflationary pressures have eased. In April, the Consumer Price Index ### CPI ### increased by 4.9% year-on-year, lower than expected, marking the lowest level in nearly two years. The job market remains robust, with the unemployment rate at 3.4% in April and an increase of 528,000 in employment. GDP grew by 1.1% in the first quarter of 2023, slightly below expectations.

Important Event: The Federal Reserve maintained the interest rate in the range of 5.00%-5.25% on May 3, suggesting that the current rate hike cycle is nearing its end. Federal Reserve Chairman Powell stated that future rate increases will depend on economic data.

Market Reaction: According to CME Group's FedWatch tool, the market expects a 91.7% probability that the Federal Reserve will keep interest rates unchanged at the June meeting, with only an 8.3% probability of a 25 basis point rate hike. Investors anticipate that the Federal Reserve will begin a rate-cutting cycle later this year.

Expert Opinion: Goldman Sachs Chief Economist Jan Hatzius stated that the Federal Reserve may pause interest rate hikes in September and start cutting rates in the first quarter of 2024. He expects U.S. economic growth to slow to 1.5% or lower next year, but this level is "acceptable, but not impressive." He emphasized that he is closely monitoring the market reaction following the release of the next round of economic data.

( 2. The Trump administration plans to significantly relax bank capital requirements.

Economic Background: The U.S. economy is in the late stage of recovery, with the job market continuing to improve, but inflationary pressures remain high. In April, the CPI rose by 4.9% year-on-year, and the core CPI increased by 5.5% year-on-year, both exceeding the Federal Reserve's target of 2%. The Federal Reserve is working to achieve a "soft landing" to avoid a recession.

Important Event: According to the Financial Times, the Trump administration plans to significantly relax the supplementary leverage ratio ) SLR ### regulations, marking the largest scale of relaxation in bank capital regulation since the financial crisis of 2008. The SLR requires large banks to hold high-quality capital to address total leverage risk, but has long been criticized for limiting their ability to hold low-risk assets such as U.S. Treasury bonds.

Market Reaction: Analysts believe that the new policy will be announced as early as before summer, potentially excluding U.S. Treasury bonds and central bank deposits from SLR calculations, which is expected to free up to $2 trillion in balance sheet space, encouraging banks to return to the Treasury market and enhance liquidity. This measure is expected to lower U.S. Treasury yields, release liquidity, and indirectly support the Bitcoin and crypto asset markets.

Expert Opinion: Analysts suggest that new capital regulations could release a massive amount of liquidity, strengthening banks' participation in U.S. Treasuries and the market, which is beneficial for reallocating funds to risk assets. If the policy is successfully implemented, it will further consolidate the mid-term bullish trend for Bitcoin. However, some experts have expressed concerns about relaxing capital regulations during periods of market volatility.

( 3. The Bank of Japan may raise interest rates to 0.75% by the end of the year.

Economic Background: The Japanese economy is recovering, but inflationary pressures are intensifying. In April, the CPI rose by 3.5% year-on-year, the highest level since 2008. The job market continues to improve, with the unemployment rate remaining at a low of 2.6%. The Bank of Japan has maintained an ultra-loose monetary policy to support economic growth.

Important events: A recent Reuters survey shows that 52% of economists expect the Bank of Japan to raise the benchmark interest rate to at least 0.75% by the end of this year. This will end Japan's decades-long era of ultra-low interest rates.

Market response: The Japanese stock market rose under the influence of rising interest rate expectations. Investors expect that the interest rate hike will boost the yen's exchange rate and alleviate inflationary pressures on imported goods. However, if the pace of interest rate hikes is too rapid, it could trigger turmoil in the bond market and damage the momentum of economic recovery.

Expert Opinion: The Governor of the Bank of Japan, Haruhiko Kuroda, previously stated that the central bank would consider raising interest rates only after the inflation rate sustained around 2% for a period of time. However, Hiroshi Nishimura, chief bond strategist at Nomura Securities, believes that the central bank may begin a gradual rate hike within the year to prevent inflation expectations from heating up. He expects Japan's economic growth rate to slow to around 1% next year.

5. Regulation & Policy

) 1. US banking regulators give the green light for digital asset activities

U.S. banking regulators recently revoked their previous restrictive statements on crypto assets, clearing obstacles for banks to venture into the digital asset space. This move stems from regulators' recognition of the importance and growth potential of crypto assets.

Specifically, the Federal Deposit Insurance Corporation ### FDIC ###, the Federal Reserve, and the Office of the Comptroller of the Currency ( OCC ) have all issued new guidance allowing banks to provide cryptocurrency services and offer banking services to crypto businesses without prior approval, provided they meet appropriate risk management measures. This clears regulatory hurdles for banks to participate in the digital asset market.

This move aims to encourage the banking industry to embrace innovative technologies and provide more financial services for cryptocurrency businesses. Regulators believe that crypto assets have become an emerging asset class that cannot be ignored, and the banking sector should actively participate in it. At the same time, providing banking services to cryptocurrency enterprises also helps to strengthen regulation and promote healthy industry development.

Market participants generally welcome this. Cryptocurrency companies have long faced difficulties with a lack of banking account services, and the new policy will help address this issue. The banking industry can also take this opportunity to expand its business scope and share in the growth dividends of the cryptocurrency market. However, some analysts also remind that banks need to carefully assess risks and establish sound internal control systems when venturing into new areas.

Experts and scholars interpret the significance of this move from a broader perspective. Chainalysis analysts stated that, although U.S. regulations are being relaxed, globally influential institutions still need to comply with the standards set by the Basel Committee. This means that global regulation is tending towards unification, which is beneficial for the long-term healthy development of the cryptocurrency industry.

( 2. Ukraine plans to launch a strategic Bitcoin reserve under the new cryptocurrency law.

The Ukrainian government is formulating a strategy aimed at establishing a national Bitcoin reserve in accordance with the upcoming cryptocurrency regulations. This plan reflects the Ukrainian government's emphasis on crypto assets and is expected to promote the development of the country's crypto industry.

According to relevant proposals, Ukraine will regulate the way the country acquires, stores, and manages its Bitcoin reserves, ensuring consistency with the cryptocurrency regulations to be released in 2025. The new law will support Ukraine's holding of digital assets for national financial planning, while authorities will ensure transparency, compliance, and oversight by the central bank and regulatory agencies in reserve management.

The Ukrainian government's move aims to leverage the advantages of crypto assets to strengthen the country's financial power. Bitcoin, as a decentralized digital asset, can effectively avoid sanction risks and provide Ukraine with greater fiscal autonomy. At the same time, establishing a Bitcoin reserve will also promote the development of Ukraine's crypto industry, attracting more related businesses to settle locally.

Market participants have reacted enthusiastically to Ukraine's plan. Some cryptocurrency companies have expressed their intention to establish branches in Ukraine, hoping to benefit from it. However, some investors have expressed concerns about the Ukrainian government's operational capabilities, urging authorities to act cautiously to avoid risks to the national finances.

Industry experts have interpreted Ukraine's actions from a more macro perspective. The founder of the crypto asset consulting firm Coveware believes that Ukraine's move could trigger a "sovereign digital currency" race, with countries accelerating the establishment of their own digital asset reserves. This will further promote the application of crypto assets globally, but it may also exacerbate geopolitical competition.

) 3. The Central Bank of Brazil proposed strict regulation on transfers of stablecoins.

The Central Bank of Brazil recently proposed a regulatory recommendation to implement strict regulations on the transfers of stablecoins. This move aims to strengthen the regulation of crypto assets and maintain financial stability, but it may also have some impact on the development of stablecoins.

According to the central bank's proposal, Brazil will limit the sending of stablecoins to wallets controlled by non-Brazilian entities in the future. This means that stablecoin issuers and users will face stricter scrutiny and restrictions when making cross-border transfers. The proposal also includes several other regulatory measures aimed at strengthening control over the circulation of stablecoins.

The starting point of the Brazilian Central Bank's move is to prevent financial risks brought about by encrypted assets. As a type of encrypted asset linked to fiat currency, the issuance and circulation of stablecoins can affect a country's monetary policy and financial stability. Therefore, the central bank hopes to avoid potential risks through strict regulation.

Market participants have mixed reactions to this. Some cryptocurrency companies are concerned that overly strict regulations will hinder the development of stablecoins in Brazil, affecting their application prospects in areas such as payments and settlements. However, some investors believe that moderate regulation is beneficial for the long-term development of the stablecoin industry, as it can enhance compliance and public trust.

Experts and scholars have analyzed this regulatory trend from a macro perspective. The actions of the Central Bank of Brazil reflect the cautious attitude of emerging market countries toward stablecoins. Compared to developed countries, the financial systems in these nations are relatively fragile, hence their greater concern about the potential impacts of stablecoins. However, experts also point out that overly strict regulation may hinder innovation and affect the development of the domestic cryptocurrency industry.

4. The Democratic Party of the United States requests the Treasury Department to provide information on Trump's cryptocurrency transactions.

Recently, senior members of the Democratic Party in the United States sent a letter to the Treasury Department, requesting that its anti-money laundering regulatory agency provide all suspicious activity reports related to Trump's cryptocurrency projects. They accuse Trump and his team of potentially abusing their power to benefit their cryptocurrency business, posing a "bribery" risk.

According to accusations from Democrats, Trump has openly supported cryptocurrency and has collaborated with the industry multiple times, raising questions about potential conflicts of interest. They are particularly focused on Trump's blockchain projects World Liberty Financial and $TRUMP Memecoin, demanding that the Treasury verify whether the related transactions are compliant.

The Democrats' move aims to expose the misconduct of the Trump administration in the cryptocurrency space and pave the way for upcoming regulatory reforms. They hope to find evidence through investigations that existing regulations have loopholes, thus providing a basis for the new administration to implement stricter cryptocurrency regulations.

Market participants have mixed reactions to this. Some cryptocurrency companies are concerned that overly strict regulations will hinder industry development and affect the pace of innovation. However, some investors believe that strengthening regulations is beneficial for rectifying market order and protecting investors' interests.

Experts and scholars have interpreted this event from legal and political perspectives. Legal experts state that even if the Democrats' accusations are true, it would be difficult to hold Trump legally accountable based on existing laws, as there is a vacuum in the regulation of crypto assets. Political analysts believe that this is merely a prelude for the Democrats to lay the groundwork for regulatory reforms in the next government, and the actual impact may be limited.

5. Nebraska increases Bitcoin mining difficulty through new legislation.

The Nebraska legislature recently passed a new bill LB 526 regulating Bitcoin miners. The bill requires large miners to bear the costs of infrastructure upgrades, report energy usage, and allows authorities to interrupt their services when necessary.

This move by Nebraska aims to address the pressure that Bitcoin mining places on the local power grid. As mining develops, the demand for electricity from miners continues to rise, placing a heavy burden on the local power grid. The new legislation will force miners to pay for the electricity they consume and accept oversight from regulatory authorities.

The bill was unanimously passed in the state legislature, but it has significant implications for miners. Large miners have to bear additional costs and compliance requirements, which may affect their operations in Nebraska. Some miners may even choose to relocate to other states.

However, the bill has also received some support from local residents. They believe that Bitcoin mining has placed a heavy burden on the local power grid, and the new bill helps miners take responsibility for their actions and maintain fairness.

Experts and scholars have interpreted this bill from the perspectives of energy and regulation. Energy experts indicate that Bitcoin mining does indeed put pressure on the power grid in certain areas, and measures need to be taken to address this. Regulatory experts believe that Nebraska's approach may serve as a reference for other states, with similar regulations potentially being implemented to regulate local mining activities.