South Korea's ruling party proposes legislation to allow the issuance of stablecoins

Member data shows that the current price is testing the strong support zone of 2508-2513, with a trading volume of 5.88% and strong buying support. The appearance of a belt catching pattern along the 2-hour cycle K-line indicates that the bulls are accumulating strength at the 2500 integer level. On the technical side, EMA24 and EMA52 maintain a golden cross upward trend with slopes of 1.58% and 1.06%, respectively, indicating an unchanged medium to long-term upward trend. But the MACD bar chart continues to shrink, and in the short term, we need to be alert to the risk of a pullback. Open membership immediately and accurately grasp the high and low points! The data is sourced from the PRO member's [ETH/USDT Binance USDT perpetual 2-hour] candlestick, for reference only, and does not constitute any investment advice.

According to The Block, Brian Quintenz, the nominee selected by Trump for the position of Chairman of the Commodity Futures Trading Commission (CFTC), stated during a Senate hearing that if the CFTC gains more cryptocurrency regulatory authority, it will require additional funding support. Several senators agree with this, with Minnesota Democratic Senator Amy Klobuchar emphasizing that the CFTC needs to have sufficient personnel and resources to address emerging challenges. Quintenz previously served as the Global Policy Director of a16z Crypto Fund and was a member of the CFTC from 2017 to 2021. If the nomination is approved, he will become the only current member of the CFTC, while the other four members have recently resigned or announced plans to resign. The current US Congress is considering a bill that may expand the regulatory authority of the CFTC over digital assets, and the agency currently has less than a thousand employees, far below the SEC's 4000 staff size.

According to The Block, the U.S. House Agriculture Committee passed the Digital Asset Market Clarity Act on Tuesday with 47 votes in favor and 6 votes against. The bill will clarify the regulatory division between the SEC and CFTC for cryptocurrencies, requiring digital asset companies to disclose customer information and isolate customer funds. The latest revised terms clarify that non custodial platforms and their developers do not belong to "unlicensed service providers". The bill needs to be passed by the House Financial Services Committee before it can be submitted for a full house vote. Earlier on Tuesday, during the debate on the "Clarity" bill in the House Agriculture Committee, some lawmakers raised concerns about the need for the CFTC to increase funding and personnel. The CFTC is relatively small with less than 1000 employees, while the SEC has over 4000 employees. According to Reuters, 600 employees left the SEC earlier this year.

OKX-BTC/USDT is currently trading at $109991, with a 5-minute increase of 0.10%. Please be aware of market fluctuations.

ETH has risen, with a trading volume of $86.8 billion in the past 24 hours and a circulating market value of $337.7 billion, representing a 3.62% increase in market value. Data for reference only