1. Vitalik Calls for Legalization of Privacy Tools, Supports Developer Work

Ethereum founder Vitalik wrote, "An interview with Tornado Cash co-founder Roman Storm (which we heavily rely on, as the 2019 FinCEN guidelines clearly state that providers of anonymization software are not subject to money transmission business licensing regulations. This reassures us that what we are developing should not put us in a high-risk position) is quite good. His trial will begin in 10 days. Nowadays, backdoor-free message privacy has been widely accepted, and many business and government officials frequently use tools like Signal. Given the frequent breaches of centralized databases we see today, enhancing privacy protection in payments, identity, artificial intelligence, and other areas should not be viewed as a relationship that needs to be 'balanced' with security—it is an important component of security itself. I hope the U.S. can take the lead in making a safer, freer, and less data-leaky world a reality. The first step is to send a clear signal to developers: this important work is welcome." -Original

2. U.S. Non-Farm Data Exceeds Expectations, Market's Expectations for Fed Rate Cut in September Heat Up

Odaily Planet Daily reports that Kathy Bostjancic, Chief Economist at Nationwide Financial, stated that a large amount of data will influence the Fed's decisions in the next two months. If the current trend continues, the Fed should be able to implement easing policies in September. He believes the Fed will cut rates by 25 basis points in September, October, and December, but Powell may balance various parties by "not overcommitting": supporting the September rate cut while emphasizing that it is not a signal for further easing, and pausing actions if inflation worsens. -Original

3. JPMorgan Maintains Positive View on Standard Chartered, Says It Can Withstand Stablecoin Impact

Odaily Planet Daily reports that JPMorgan published a research report maintaining a positive view on Standard Chartered, continuing to list it as a preferred stock among Hong Kong banks. They believe Standard Chartered is less affected by the decline in HIBOR and risks in Hong Kong commercial real estate; it is also a major beneficiary of RMB internationalization and has a clearer digital asset development strategy, making it more resilient to the impact of stablecoins. The target price is HKD 135, with a rating of "Overweight." -Original

4. Turkey Implements Access Block on DEX PancakeSwap for the First Time

The Capital Markets Board of Turkey (CMB) has implemented an access block on PancakeSwap on the grounds of "providing unauthorized cryptocurrency services," marking the first time Turkey has sanctioned a DEX. Also banned is the cryptocurrency price comparison platform CryptoRadar. This decision is based on the regulatory authority obtained by the CMB last year, allowing it to block unlicensed foreign cryptocurrency service platforms targeting Turkish users. Analysts point out that this move sets a precedent for Turkish regulators to crack down on DEXs, which may affect similar platforms like Uniswap and Raydium. Previously, Turkey mainly targeted centralized exchanges that had not applied for local licenses. -Original

5. Japanese Brand Mac House Announces Entry into Bitcoin Mining Sector

Japanese clothing chain Mac House has reached a comprehensive cooperation agreement with local crypto mining company Zero Field to enter the Bitcoin mining sector. This follows its announcement in June of a 1.7 billion yen (approximately 12 million USD) Bitcoin procurement plan. According to the agreement, Mac House will add mining operations to its existing "buy-hold" strategy to balance risks and enhance returns. The two parties will negotiate specific operational plans in the future and consider expanding into areas like NFTs. -Original

6. Fed May Cut Rates by 25 Basis Points in September, October, and December

Odaily Planet Daily reports that Kathy Bostjancic, Chief Economist at Nationwide Financial, stated that a large amount of data will influence the Fed's decisions in the next two months. If the current trend continues, the Fed should be able to implement easing policies in September. He believes the Fed will cut rates by 25 basis points in September, October, and December, but Powell may balance various parties by "not overcommitting": supporting the September rate cut while emphasizing that it is not a signal for further easing, and pausing actions if inflation worsens. -Original

7. Central Bank of Bahrain Releases Regulatory Framework for Stablecoin Issuers

On July 4, the Central Bank of Bahrain announced the launch of a licensing and regulatory framework for stablecoin issuers, aimed at ensuring the safe integration of stablecoins into the financial system. The new regulations allow licensed institutions to issue single-currency stablecoins backed by the Bahraini Dinar, U.S. dollars, or other approved fiat currencies. This initiative aims to reduce the risks associated with unregulated stablecoins, enhance investor confidence, and promote sustainable growth in the industry. The Executive Director of Market Development at the Central Bank stated that this move will solidify Bahrain's position as a financial hub in the Middle East. The head of the Capital Markets Supervisory Authority emphasized that the new framework reflects a commitment to comprehensive regulation of crypto assets, including strengthening investor protection measures and market transparency. This policy was announced at a fintech event co-hosted by the Bahrain Economic Development Board. -Original

8. Ethereum Foundation Provides 3-Year Funding Support to Argot Collective

The Ethereum Foundation announced that it will provide 3 years of operational funding to Argot Collective to continue supporting its work on the Solidity language and other key open-source infrastructure for Ethereum. It is reported that Argot was founded by former members of the Ethereum Foundation and is dedicated to maintaining the tools that Ethereum relies on. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com)

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