Fed Governor Notes Fading Crypto Euphoria; Chinese Exchanges Tighten Rules; Senators Query UAE Stake in WLFI

Circle stock price surges 87% in a month! How the US-Iran war and trader position adjustments are driving the rally?

Circle's stock price surged 87% in a single month due to the impact of the US-Iran conflict. Analysts have pointed out that its stock is overvalued, and the discounted cash flow model shows an intrinsic value of $42.25. The current stock price of $111.84 is 164.7% higher. The price-to-sales ratio also emphasizes that the stock is overvalued, indicating a high risk of overestimation.

Jason Atkins: China's RWA ban signals market direction; the dollarization trend of stablecoins cannot be stopped

China issues a ban on unauthorized Renminbi-pegged stablecoins and considers RWA tokenization activities illegal, aiming to prevent industry expansion. Analysts believe that this ban cannot stop the global demand for USD stablecoins, and Hong Kong's stablecoin licensing may also present opportunities for Chinese-funded banks, indicating a subtle regulatory adjustment. Overall, China's measures are targeted at the domestic market rather than an obstacle to global RWA development.

Bank of Canada tokenized bonds implemented, 100 million CAD trial for integrated issuance and settlement

The Bank of Canada successfully completed "Project Samara," issuing 100 million CAD in tokenized bonds. Utilizing distributed ledger technology, the project enables real-time bond issuance, trading, and settlement, with wholesale digital dollars used for settlement. This innovation can shorten settlement times, reduce risks, and enhance transparency. Future progress will need to overcome regulatory and integration challenges.

U.S. CFTC Chair Selig Sets Key Focus: Launching Cryptocurrency Perpetual Contracts in Weeks, Ending Turf Battle with SEC

CFTC Chairman Mike Selig emphasized the future focus areas at the FIA conference, including the launch of real crypto perpetual contracts within a few weeks, resolving regulatory disputes with the SEC, and establishing regulatory standards for prediction markets. Selig advocates for a "minimum effective intervention" approach to regulation, aiming to promote market liquidity and clear regulations, reduce political interference, and reposition the CFTC as a facilitator of the market.

Bank of Canada issues its first tokenized bond! An integrated ledger for issuance, bidding, and settlement

The Bank of Canada completed the "Project Samara" experiment, successfully issuing $100 million CAD in tokenized bonds through distributed ledger technology for issuance and settlement, enhancing efficiency in the bond market. However, regulatory and infrastructure challenges still need to be addressed. The experiment demonstrated the potential impact of digital financial infrastructure on traditional markets.

Lummis pushes for crypto tax exemptions before stepping down, CLARITY bill stalemate remains unresolved

Wyoming Senator Cynthia Lummis is advocating for tax exemptions on cryptocurrency transactions under $300 to promote everyday use of cryptocurrencies. However, the CLARITY Act faces obstacles in the Senate, mainly due to regulatory disputes over crypto token stocks and opposition from the banking industry. With Lummis stepping down soon, the legislative prospects remain uncertain.