Musk asks Gork X account questions again

Odaily Planet Daily News: Emma Reynolds, the UK Chancellor of the Exchequer and Secretary of State for Economic Affairs, has made it clear that the country will not follow the example of the United States in establishing a national cryptocurrency reserve. She pointed out that the plan is not suitable for the UK market, although the UK's digital asset reserves have not yet been realized, the country is considering the possibility of issuing sovereign debt through the use of distributed ledger technology. Reynolds emphasized that the UK will not simply copy the specialized legislative model of the EU MiCA Act, but will adjust existing regulations based on a results oriented approach. For decentralized assets such as Bitcoin, she acknowledges regulatory limitations and limited intervention measures that the government can take. （Decrypt）

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BlockBeats News: On May 6th, before the Federal Reserve announced its interest rate decision this Thursday, renowned financial journalist Nick Timiraos, also known as the "New Federal Reserve News Agency," published a latest report analyzing the dilemma faced by the Fed in responding to the Trump administration's "hasty" tariff policy, suggesting that the Fed may temporarily postpone interest rate cuts. The article suggests that the Federal Reserve will closely monitor changes in the labor market and use employment data as an important reference for its decisions: "The Federal Reserve will not cut interest rates prematurely due to expected economic slowdown, they need to see actual data, especially in the labor market." Tariffs may force the Federal Reserve to "take the latter path. Because tariffs may push up prices in the short term, their uncertainty will also slow down economic activity, leading to signs of stagflation, which may cause the Federal Reserve to postpone interest rate cuts. If inflation expectations get out of control, controlling inflation will become even more difficult. The article further points out that compared to five years ago, the "limiting factors" mentioned by former Federal Reserve Governor Brainard have worsened, as the economy has recently experienced a period of very high inflation. Even if the Federal Reserve may consider cutting interest rates internally, it still needs to remain vigilant about inflation in public to stabilize market expectations.

According to The Block, Bitwise's Chief Investment Officer Matt Hougan is concerned that the US Congress may fall behind in cryptocurrency regulation, and if legislation fails, the cryptocurrency industry may face a difficult summer. However, he remains optimistic about the prospects of cryptocurrency this year and expects most digital assets to reach new highs, with Bitcoin prices potentially surpassing $200000. Hougan had expected the stablecoin legislation to pass quickly this year, calling it a "triple win" initiative. In mid March, the Senate Banking Committee passed the GENIUS Act by a vote of 18-6. However, as it was approaching full Senate review, nine Democrats withdrew their support and called for strengthening national security and anti money laundering provisions. The bill requires 60 votes to pass, with the Republican Party holding only 53 seats, and cooperation between the two parties is crucial. Hougan believes that the shift in Democratic attitudes may be related to the decline in Trump's approval rating and the controversy surrounding his cryptocurrency interests, rather than substantive concerns. He also pointed out that efforts to combine stablecoin legislation with broader market structure legislation would backfire and make the bill more difficult to pass. Although the prospects of the GENIUS Act are uncertain, Hougan still expects the stablecoin bill to eventually pass, believing that the benefits of stablecoins are obvious and that political games will not hinder its progress. Hougan said, "The next few days and weeks will be full of challenges. If legislative progress is hindered, it could bring a difficult summer to the cryptocurrency industry. But if Washington can work together, I believe the bull market will be unstoppable

On May 6th, according to OnchainLens monitoring, two newly created wallet addresses withdrew 83000 SOL (worth $11.97 million) from Kraken and used it as collateral.