参议员迈克·李呼吁废除国税局和美联储。(Watcher.Guru)

The Bank for International Settlements (BIS) recently released a paper titled "Empirical Analysis of Cross border Bitcoin, Ethereum, and stablecoin Flows," which delves into the driving factors behind cross-border cryptocurrency flows in 184 countries from 2017 to mid-2024. Research has found that geographic distance and language barriers have a much smaller impact on cryptocurrency trading than on traditional financial flows. Global factors such as intensified market volatility and widening credit spreads have become important determinants of native cryptocurrency assets. The correlation between stablecoins and remittance costs and transaction demands is stronger, especially in emerging markets and developing economies where traditional financial channels are costly. In addition, capital flow management measures seem to be largely ineffective in suppressing these digital transactions, with evidence indicating that the trading volume of certain cryptocurrency assets has even increased due to the implementation of these measures. The research findings highlight the dual role of cryptocurrency as a speculative investment and trading tool, emphasizing the need for further research to evaluate its impact on financial inclusion and economic stability.

Binance ENS/USDT's perpetual trading volume surged 12 times within 10 minutes, with a turnover of 56.6 million US dollars in the past 24 hours, a decrease of 3.74%. A surge in trading volume generally indicates an increase in market trading activity or large-scale fund buying and selling operations, which may be caused by certain important market changes or news announcements.

According to Crowdfunding Insider, Abu Dhabi licensed private equity platform AltNovel has partnered with Canadian digital asset management company 3iQ to launch the Middle East's first multi strategy digital asset fund, AltNovel Digital Access Portfolio. This fund is aimed at professional investors and aims to achieve an annualized return of over 20% through a combination hedging strategy, with a maximum drawdown controlled within 2.4%, aiming to provide allocation options with low correlation to traditional assets. This product will combine 3iQ's digital asset management experience with AltNovel's combination building capabilities, and operate within the regulatory framework of the Abu Dhabi Global Market (ADGM). Pascal St Jean, CEO of 3iQ, pointed out that the demand for institutional level risk management solutions in the Middle East market has significantly increased. Data shows that the United Arab Emirates has become the world's first sovereign country to implement a comprehensive regulatory framework for encrypted assets.

According to Cryptonews, there has been a heated debate among South Korean presidential candidates over the stablecoin policy. On May 8th, the candidate of the largest opposition party, the United Democratic Party, Lee Jae myung, advocated for the establishment of a Korean won stablecoin market as soon as possible, warning that otherwise there would be "national wealth outflow". The proposal was strongly opposed by the candidate of the Reform Party, Li Junxi, who cited the 2022 Terra crash case and pointed out that the algorithmic stablecoin KRT had catastrophic consequences due to the lack of actual asset endorsement. Kim Byung wook, a supporter of Lee Jae ming and a former member of Parliament, retorted that global regulators have clearly distinguished between algorithmic stable currency and compliant stable currency pledged 1:1 in cash/treasury bond, and the stable currency of Korean won can reduce the cost of cross-border remittance. Industry insiders have revealed that this is the first public technical debate in South Korean politics regarding cryptocurrency assets, and the election results may determine the direction of the country's cryptocurrency regulation. The general election will be held on June 3rd.

According to chinanews.com, the police in Xian'an, Xianning, Hubei Province, successfully cracked a case of unauthorized use of illegal channels for international networking. The criminal gang led by Tang Moumou has set up several network equipment in their private houses, accessed the Internet through illegal channels without authorization, and used overseas software to engage in illegal transactions of virtual currency and foreign exchange. The funds involved in the case amounted to more than 120000 yuan. At present, seven offenders have been subject to administrative punishment according to law. The case is being further explored and expanded.