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Recently, the State Taxation Administration and the National Financial Regulatory Administration of China jointly issued a notice on "Further Deepening and Standardizing 'Bank-Tax Interaction' Work," which pointed out the need to deepen the application of bank-tax data.Standardize the content and methods of providing bank-tax data to further resolve the information asymmetry issue between banks, taxes, and enterprises. Encourage both banks and tax authorities in various regions to utilize technologies such as blockchain and privacy computing to legally and compliantly innovate the "bank-tax interaction" model. Banks will continue to optimize credit services, increase financing service supply for honest tax-paying enterprises, and continuously monitor the effectiveness of the "bank-tax interaction" loan model to improve risk management levels.

According to Crowdfund Insider, the technology investment platform Fundrise's innovative fund VCX announced a partnership with the cryptocurrency exchange Kraken to tokenize its fund shares.The tokenized asset is named VCXx and will be traded on Kraken's xStocks platform, allowing investors to purchase using USDG or US dollars.

According to a report by Jinshi Data, the General Office of the Ministry of Industry and Information Technology has issued a notice on launching a special action to empower the development of small and medium-sized enterprises (SMEs) through inclusive computing power, mentioning the innovative service model of computing power.Improve the SME section of the China Computing Power Platform, the computing resource docking section of the China SME Service Network, and the national computing internet service node section (hereinafter collectively referred to as the SME platform section), to promote the precise matching of SME demand and computing resource supply, and implement flexible payment models such as "card time," "calculated time," and Token billing.Explore innovative businesses such as "computing power banks" and "computing power supermarkets," supporting SMEs to deposit idle computing resources and achieve flexible use through cross-regional and cross-cycle scheduling. Implement an artificial intelligence SME entrepreneurship support plan, encouraging local relevant departments to subsidize "computing power vouchers," "storage vouchers," and "transportation vouchers" to SMEs that meet industrial orientation through the SME platform section, simplifying the acquisition and usage process.

Charles Hoskinson, the founder of Cardano, has raised strong doubts about the U.S. Digital Asset Market CLARITY Act, believing that the bill could bring long-term negative impacts in terms of implementation, political risk, and industry structure.Hoskinson stated that even if the bill passes, it may require up to 15 years for rule-making and implementation, leading to a long-term stagnation of the industry amid uncertainty. He pointed out that the current political environment in the U.S. (especially after the FTX incident) has tightened regulations, and new projects may be defaulted to be considered securities, thereby stifling innovation. He further warned that the bill could be "weaponized" by future administrations, becoming a political tool, with different parties potentially using its provisions to target specific projects or industry participants.In addition, Hoskinson criticized the bill for its complex design and being overly "U.S.-centric," neglecting global regulatory coordination while focusing too much on marginal issues like stablecoin yields, failing to address the core problems of the industry. He believes that this structural design may actually benefit mature projects (such as Cardano, XRP, Ethereum) but create higher barriers for newcomers, further exacerbating the trend of industry centralization.

Coinbase CEO Brian Armstrong stated that the company has established an internal venture capital program called "Next Bets," which allows employees to submit innovative projects and pitch directly to product leaders, and can proceed with implementation as long as they receive support. The program opens for proposals twice a year, typically executed by small teams of 2 to 3 people, focusing on high-potential directions.Armstrong mentioned that this mechanism aims to reduce the loss of excellent ideas and talent, inspired by historical cases in the tech industry. It was introduced that the Base blockchain project originated from this program, and more related developments will be announced in the coming weeks.

Yili Hua posted on platform X, stating that the current cryptocurrency market is in a bear market and the war is not over, lacking a significant rebound. The performance of the cryptocurrency sector over the past four years has been disappointing, with the crypto middle class, retail investors, and VCs all being harvested, while exchanges, market makers, and project teams continue to siphon off funds. Currently, the market's capital inflow mainly comes from Wall Street ETFs, DAT, and a few believers, and there has been no disruptive innovation in the cryptocurrency sector yet.

According to Cointelegraph, Michael Selig, the chairman of the Commodity Futures Trading Commission (CFTC), stated that bringing "real" cryptocurrency perpetual futures back to the United States is a key component of the agency's innovation policy agenda.

According to The Block, as the U.S. Securities and Exchange Commission (SEC) prepares to launch a tokenized asset innovation exemption program, the U.S. House Financial Services Committee held a hearing on March 25 titled "The Future of Tokenization and Securities: Modernizing Capital Markets."Republican Congressman Andy Barr stated that the tokenization of securities is an inevitable trend, and the U.S. needs to lead this process while protecting investors. Some Democratic lawmakers expressed concerns that the innovation exemption might weaken core securities regulation.SEC Chairman Paul Atkins stated that the agency will soon seek public input on a range of issues related to future rulemaking, including a proposed innovation exemption that could serve as a regulatory sandbox for on-chain assets. Additionally, according to crypto journalist Eleanor Terrett, Paul Atkins indicated that the long-awaited tokenization innovation exemption could be introduced in the coming weeks.

Stijn Vander Straeten, CEO of Crypto Finance under Deutsche Börse, stated that traditional banks are at least 5 years behind crypto-native platforms in terms of DeFi innovation. Large institutions typically wait for regulatory frameworks to be clarified before entering related markets, so the full adoption of DeFi by banks may still take 5 to 10 years.He pointed out that crypto platforms have already offered features such as weekend trading and instant settlement, while the traditional financial system is still constrained by outdated infrastructure like T+2 settlement.

The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael S. Selig, announced the establishment of an Innovation Working Group aimed at developing clear regulatory rules for innovators creating new products and technologies in the U.S. derivatives market.This Innovation Working Group will collaborate with the Innovation Advisory Committee to advance the development of a clear regulatory framework, focusing on three areas: (i) crypto assets and blockchain technology; (ii) artificial intelligence and autonomous systems; and (iii) prediction markets and event contracts.The responsibilities of the working group include advancing the Commission's innovation agenda and collaborating with federal agencies and departments, including the U.S. Securities and Exchange Commission (SEC) and its cryptocurrency working group, to promote various innovation initiatives. The working group will be led by the Chairman's Senior Advisor, Michael J. Passalacqua.

According to CoinDesk, the American pharmaceutical company NovaBay Pharmaceuticals announced its name change to Stablecoin Development Corporation and changed its stock ticker from NBY to SDEV, marking its shift from the medical field to cryptocurrency and stablecoin development.The company previously completed a $134 million private placement and established a holding of SKY tokens, currently holding approximately 2.06 billion SKY, accounting for about 8.78% of the total supply. The company has begun staking its SKY tokens and has currently earned approximately 26.6 million in rewards.

According to Bloomberg, the U.S. Securities and Exchange Commission has submitted two proposed rules to the Office of Management and Budget at the White House, concerning the digital asset industry and the disclosure requirements for hedge funds and private equity funds. Among them, the digital asset proposal includes an "innovation exemption" mechanism that allows relevant companies to be exempt from registering as regulated entities such as brokers or exchanges for a certain period.The other rule adjusts Form PF, which is used for disclosing fund performance and risks. In addition, SEC Chairman Paul Atkins had previously postponed the effective date of the new Form PF regulations to October 1 and stated that he would explore ways to reduce the disclosure burden.

According to Jinshi Data, the Shanghai Stock Exchange has accepted the IPO application of Yushu Technology Co., Ltd. for the Sci-Tech Innovation Board, with a proposed financing amount of 4.202 billion yuan.

F2Pool co-founder Wang Chun expressed on the X platform regarding the BIP-110 controversy that Bitcoin should not be sanctified and criticized some Bitcoin extremists for hindering technological innovation.He pointed out that some supporters view attempts at scaling or functional improvements as "altcoin attacks," using moral accusations to cover up a lack of innovation, transforming Bitcoin from an economic concept into a system with ideological overtones. Wang Chun stated that in the context of the continuous development of DeFi, privacy, and payment infrastructure, Bitcoin should not become a system that is "too rigid to evolve."

Hester M. Peirce, a commissioner of the U.S. Securities and Exchange Commission, stated that a research initiative for a "regulatory exemption" for tokenized securities has been launched, allowing limited trading and technical experimentation for certain tokenized securities. This exemption plan will be more cautious than the "comprehensive exemption" proposed by the industry.She believes it is worth exploring whether different types of tokenization models for securities can be tested under the innovation exemption framework and whether issuer consent is needed for third parties to issue tokenized versions of their stocks, in order to promote technological innovation while avoiding regulatory arbitrage and maintaining core investor protection mechanisms.Hester M. Peirce also emphasized that regulators should not overly interfere with private capital allocation. The SEC is currently assessing several key issues, including: whether the existing information disclosure system is sufficient to cover the ownership structure of tokenized securities, the disclosure obligations of brokers and clearing agencies in the issuance of tokenized securities, the compatibility of atomic settlement with the current T+1 settlement rules, and the applicability of regulatory authority in the absence of intermediaries or under new intermediary structures.

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission, stated at the Investor Advisory Committee (IAC) meeting on Thursday that the SEC is developing innovative exemption provisions for tokenized securities, but the scope will be narrower than previously discussed exemption proposals.The Investor Advisory Committee IAC had previously recommended that the SEC should not adopt a comprehensive exemption approach to avoid undermining investor protections, including core mechanisms such as ownership disclosure, intermediary regulation, and order protection. Instead, it suggested targeted reforms through a rule-by-rule approach, which must undergo a public consultation process.SEC Chairman Paul Atkins stated at the same meeting that the commission expects to soon discuss innovative exemptions in order to seek to establish a timeline for a long-term regulatory framework. Tokenized securities currently must fully comply with U.S. federal securities laws, and the innovative exemption mechanism aims to allow controlled experiments with more advanced trading models while maintaining necessary investor protections.

According to Cointelegraph, Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), delivered a speech at the SEC Investor Advisory Committee on Thursday, calling for regulators to simplify the disclosure requirements for public companies and to promote innovative exemption mechanisms for tokenized securities.Peirce pointed out that public companies spend a significant amount of resources preparing mandatory disclosure documents, but the related content often fails to effectively enhance the quality of information available to investors, and may instead lead to information obfuscation. She believes that regulators should avoid excessive intervention in the market.On the topic of tokenized securities, Peirce stated that SEC staff are continuing to advance research on potential innovative exemption mechanisms to allow for limited experimental exploration of tokenized securities during the assessment period under the current securities law framework. She also noted that blockchain systems are expected to enable faster settlements and reduce reliance on traditional intermediaries in certain scenarios.

According to the SEC's official website, the Chairman of the U.S. Securities and Exchange Commission (SEC), Paul S. Atkins, delivered a speech at the annual meeting of the Investor Advisory Committee, focusing on three main topics.First, to reduce unnecessary information disclosure burdens, advocating for the principle of "minimum effective dose regulation," emphasizing that rules should be centered on materiality and flexibly adjusted according to company size; at the same time, suggesting an extension of the applicability period of the "IPO on-ramp" in the JOBS Act to encourage more small and medium-sized enterprises to go public.Second, opposing the SEC's indirect intervention in corporate governance through "comply or explain" disclosure requirements, arguing that such "shaming regulation" exceeds the SEC's authority, and governance decisions should be made by shareholders and directors themselves.Third, expressing views on the tokenization of equity securities, believing that tokenization helps improve settlement efficiency, reduce settlement risks, and minimize intermediaries, and revealing that the SEC will consider introducing an innovative exemption mechanism to support limited trading of specific tokenized securities and accumulate experience for developing a long-term regulatory framework.

According to the SEC official website, the Chairman of the U.S. Securities and Exchange Commission (SEC), Paul S. Atkins, delivered a speech at the annual meeting of the Investor Advisory Committee, focusing on three main topics.First, to reduce unnecessary information disclosure burdens, advocating the principle of "minimum effective dose regulation," emphasizing that rules should be centered on materiality and flexibly adjusted according to company size; at the same time, suggesting extending the applicability period of the "IPO On-Ramp" in the JOBS Act to encourage more small and medium-sized enterprises to go public.Second, opposing the SEC's indirect intervention in corporate governance through "comply or explain" disclosure requirements, arguing that such "shaming regulation" exceeds the SEC's authority, and governance decisions should be made by shareholders and directors themselves.Third, expressing views on the tokenization of equity securities, believing that tokenization helps improve settlement efficiency, reduce settlement risks, and minimize intermediaries, and revealing that the SEC will consider introducing an innovative exemption mechanism to support limited trading of specific tokenized securities and accumulate experience for developing a long-term regulatory framework.