ChainCatcher news, as Trump's "reciprocal tariffs" approach, market sentiment has undergone repeated tests, ultimately betting that clear trade policies will help stabilize the market. The three major U.S. stock indices experienced significant fluctuations during the day, closing mixed: the Dow Jones fell slightly by 0.03%, the S&P 500 rose by 0.38%, and the Nasdaq increased by 0.87%. Large tech stocks strengthened across the board, with Tesla rising more than 3%.The cryptocurrency market rose in tandem, with Bitcoin, driven by the early low opening of tech stocks, briefly approaching $82,000, and then following the rebound of U.S. stocks, reaching a high of $85,579. It is currently challenging whether it can hold above the $85,000 mark, having increased by 2.36% in the last 24 hours. Other major tokens generally rose, with Ethereum striving to break the $2,000 mark. Last night, multiple meme tokens on the BNB chain experienced a chain collapse, significantly undermining market confidence in meme coins.In the forex commodities sector, the dollar closed flat after fluctuating throughout the day; the oil and gas market overall declined, with crude oil prices slightly retreating; investors chose to take profits ahead of a series of tariffs coming into effect, with spot gold retreating after reaching a historic high.The U.S. stock market seems to have stopped falling on the eve of the "reciprocal tariffs" deadline, indicating that the market believes Trump will not insist on any tariff policies that would severely hinder economic growth, and is looking forward to clear trade policies that will help stabilize the market. Global attention is focused on tonight's tariff announcement, watching whether it can clarify policy direction to eliminate uncertainty, and whether the increase in tariffs will further worsen economic prospects.

ChainCatcher News, U.S. Representatives Tom Emmer and Darren Soto have reintroduced the "Securities Clarity Act," aimed at clarifying the legal distinction between crypto assets and securities contracts, providing a compliance pathway for innovative projects. The bill has received support from Coin Center, the Blockchain Association, and others, and is seen as an important prelude to legislation on the structure of the U.S. crypto market. The bill emphasizes that "investment contract assets" should be distinct from the securities issuance to which they were originally attached, laying the legal groundwork for the reclassification of digital assets as commodities after decentralization.

ChainCatcher message, Federal Reserve Chairman Powell: There will be decisions and clarity in the coming months and throughout this year, and we will adjust policies as needed.

ChainCatcher news, according to Theblock, Bitcoin has experienced a turbulent week, dropping 21% from its historical high of $110,000. 21Shares cryptocurrency research strategist Matt Mena believes that some positive catalysts may emerge in the future. He pointed out that Nvidia's strong earnings report released on Wednesday and potential signs of further inflation cooling in Friday's core PCE data are key events that could drive Bitcoin prices higher.Matt Mena stated, "Positive regulatory tailwinds, combined with Nvidia's strong earnings (which indicate sustained demand driven by artificial intelligence and boost overall risk sentiment), along with positive growth in this Friday's Personal Consumption Expenditures (PCE) inflation data, could create a perfect macro environment for Bitcoin, allowing it not only to recover previous highs but also potentially break through $150,000 as institutional and retail confidence surges."Matt Mena also emphasized that regulatory clarity could change the game for Bitcoin, especially in attracting institutional capital. He added, "If the U.S. provides clear guidance on stablecoins and broader digital asset regulation, we could see a significant influx of institutional funds into the space."

ChainCatcher news, according to the Financial Times, Dan Ivascyn, Chief Investment Officer of Pacific Investment Management Company (PIMCO), stated that the Federal Reserve will maintain interest rates unchanged in the foreseeable future, and there is even a possibility of an interest rate hike until Trump's policy direction becomes clear.Ivascyn pointed out that the latest consumer survey shows that inflation expectations have risen, and inflationary pressures have not fully dissipated. He believes that Trump's policies will have a positive impact on economic growth and productivity in the long term, but may bring pressure in the short term. The Federal Reserve will remain cautious until economic data and policy direction become clearer.

ChainCatcher news, Coinbase CEO Brian Armstrong said: "I believe we finally have the opportunity to get some regulatory clarity on some outstanding major issues in the U.S., frankly, under Gary Gensler's leadership, we haven't received any clear guidance for a long time."

ChainCatcher news, according to Morningstar, BIT Mining's chief economist Youwei Yang stated that a key factor for seeing the next progress of Ethereum is an increase in regulatory clarity, especially regarding the regulation surrounding staking classification.Ethereum staking refers to the process where holders lock up Ethereum to secure the Ethereum blockchain and earn rewards. The current Ethereum ETFs do not stake the held Ethereum, which is a concession by the issuers due to the associated regulatory uncertainty.

ChainCatcher news, the Pennsylvania House of Representatives passed the "Bitcoin Rights" bill, providing regulatory clarity for digital assets. This move comes against the backdrop of increasing uncertainty regarding cryptocurrency regulation at the federal level, continuing the trend of legislatures and governors across the country attempting to establish some rules for the U.S. crypto industry.The bill passed with a majority of 176 votes to 26, with support from 76 Democrats and all 100 Republicans.The bill protects residents' rights to self-custody of digital assets, ensuring they can use Bitcoin as a means of payment and providing clear guidelines for taxing Bitcoin transactions.The bill was drafted by the external Bitcoin advocacy organization Satoshi Action Fund, which is the latest initiative to help lawmakers understand the nuances of blockchain technology and Bitcoin. SAF has successfully assisted 20 other states in drafting and passing similar legislation, with four bills in Oklahoma, Louisiana, Montana, and Arkansas becoming law.

ChainCatcher news, according to Bloomberg, so far, crypto-native companies like Coinbase Global Inc. and BitGo Inc. have been the dominant service providers, while traditional financial firms mostly remain in a holding pattern due to concerns over regulatory uncertainty surrounding digital assets.Although the current custody market is only about $300 million, the business remains attractive, with companies like Fireblocks Inc. estimating an annual growth rate of around 30% for the industry.Leading custody banks such as BNY Mellon, State Street Corp., and Citigroup Inc. have begun to dip their toes into the cryptocurrency custody space or have expressed interest. Despite facing setbacks, these companies are experimenting, with many plans focused on the protection of tokenized assets.For example, JPMorgan Chase & Co. operates a project called Onyx, which allows blockchain payments between bank clients. In December last year, a custody trust and clearing company acquired Securrency to provide products for tokenizing traditional financial assets. In August of this year, State Street chose the vendor Taurus for the tokenization and custody of digital asset services.One major issue hindering the entry of established financial institutions is a U.S. SEC regulation known as SAB 121, which prevents highly regulated financial companies from offering cryptocurrency custody services. President Biden vetoed efforts by Congress to overturn the rule. Several banks have received exemptions.

ChainCatcher message, Citibank stated in a research report on Friday that since the launch of spot Ethereum exchange-traded funds (ETFs) in the U.S. on July 23, the cryptocurrency market has been struggling.The bank noted that during this period, other risk assets have also performed poorly, but after adjusting for volatility, cryptocurrencies have underperformed since the rebound in non-farm payroll (NFP) data. Citibank stated that unless the market gains more clarity on the "soft landing versus hard landing outcomes" for the U.S. economy, ETF liquidity may continue to be disappointing.

ChainCatcher news, the Federal Court of Australia ruled that Kraken's Australian operator Bit Trade Pty Ltd violated Section 994B of the Corporations Act by failing to conduct a "target market determination" before launching a product, which is a compliance step required by law. Kraken stated that this ruling reflects the ambiguity of cryptocurrency regulations in Australia. While Kraken is committed to complying with the ruling, a company spokesperson believes that the current regulatory framework is unfavorable to investors and calls for legal clarity in the cryptocurrency and Web3 sectors as soon as possible. ASIC plans to seek economic penalties against Bit Trade, and ASIC and Bit Trade have seven days to reach an agreement on the statement and injunction.

ChainCatcher news, WisdomTree CEO Jonathan Steinberg believes that Bitcoin and cryptocurrencies are on the verge of "mainstream" applications, and that regulatory clarity, the emergence of publicly traded crypto funds, and the tokenization of real-world assets (RWA) will drive cryptocurrencies into the mainstream.Jonathan Steinberg emphasized the significance of former U.S. President Trump's speech at the Bitcoin 2024 conference on July 27, and the ripple effects it will have on the industry in the long run. Trump ambitiously promised to clarify the regulation of cryptocurrencies and digital assets, marking a critical moment for the industry.He also stated, "Cryptocurrency is an asset class, and then there is a broader tokenization of all real-world assets. We see all of this coming together."

ChainCatcher news, according to Coinfomania, the cryptocurrency community in Nigeria has expressed appreciation for the newly introduced European regulation on the crypto asset market (MiCA), particularly its provisions regarding stablecoins. They believe these regulations are beneficial and emphasize the importance of aligning crypto projects with local interests to protect the national currency.In a recent conversation, Nigerian data and policy analyst Obinna Uzoije discussed the potential lessons that the Economic Community of West African States (ECOWAS) could learn from Europe’s MiCA. Uzoije stated that stablecoins are currently the most widely used crypto assets, especially in Africa, where the trading volume of stablecoins surpasses that of any other form of digital assets.Uzoije believes that a unified regulatory framework would provide much-needed clarity for potential cryptocurrency investors by simplifying the investment process across different countries and eliminating the need to understand various national regulations. This clarity could reduce regulatory uncertainty, making the ECOWAS region more attractive to investors, as regulatory uncertainty is a major global barrier to cryptocurrency investment.

ChainCatcher news, Fox Business reporter Eleanor Terrett posted on X that in the latest developments of the SEC lawsuit against Binance, the crypto industry has achieved a significant victory in terms of clarity regarding the sale of digital assets in the secondary market.Judge Amy Berman Jackson stated, "......the government's reliance on the assertion that 'crypto assets are manifestations of investment contracts,' as well as its arguments during the hearing regarding the technical nature, platform interdependence, and the performance of each token, are insufficient to categorically include the secondary sale of BNB within the scope of investment contracts.Moreover, this agreement is somewhat inconsistent with the singular theory that the government has been advancing since the filing of the lawsuit: we are not saying these tokens are securities—what we are discussing is investment contracts."Earlier today, it was reported that a federal judge dismissed part of the SEC's lawsuit against Binance and its founder CZ, but allowed other charges to proceed, including those against Binance.US.Later on Friday, Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia ruled that the SEC's claims against Binance regarding its ICO, BNB, BNB Vault, staking services, and unregistered and fraudulent charges can continue. She granted the motions of Binance and CZ, dismissing the charges related to secondary BNB sales and Simple Earn.

ChainCatcher news, Cinneamhain Ventures founder Adam Cochran stated that SEC Chairman Gary Gensler's continued lack of clarity regarding Ethereum regulation and the unstable and ambiguous stance of the U.S. SEC on the classification of Ethereum may hinder innovation in the cryptocurrency space and create significant uncertainty.

ChainCatcher news, Paradigm appoints new head of government relations Alexander Grieve. Reportedly, Grieve has over a decade of experience in political and financial policy in Washington, D.C., and has experience in cryptocurrency lobbying during his time at Tiger Hill Partners. Paradigm stated that Grieve's addition will drive clearer regulation from the government.