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Key points from Powell's speech on April 16: The impact of tariffs may be more lasting, and cryptocurrencies are gradually becoming mainstream

ChainCatcher news, summary of key points from Powell's speech on April 16:Interest Rate Outlook: High uncertainty; currently in a good position, waiting for clearer signals before considering policy adjustments.Economic Outlook: The U.S. economy remains "robust," with strong imports in the first quarter causing a drag, GDP growth may slow compared to last year.Inflation Outlook: The impact of tariffs may be more persistent, expected to push up inflation; March PCE year-on-year is expected to be 2.3%, core PCE at 2.6%.Labor Market: Overall remains balanced; reduced funding for research is expected to have a significant impact on employment; unemployment rate is expected to rise.Tariff Impact: The extent of tariff increases so far has far exceeded expectations; policies are still being adjusted, and the impact remains highly uncertain.Cryptocurrency: Gradually becoming mainstream, a legal framework for stablecoins needs to be established; bank regulation is expected to see "partial easing."Independence: The independence of the Federal Reserve is legally granted; the Federal Reserve will not be influenced by political pressure.Others: Don't expect the Federal Reserve to step in to rescue the market; if a dollar shortage occurs, the Federal Reserve is prepared to provide liquidity to global central banks.Market Reaction: After a decline, the U.S. dollar index rebounded and then fell again; U.S. stocks continued to decline, with the Nasdaq down nearly 4%, and gold slightly climbed.

Bitget has become the third mainstream exchange in the world to obtain both DASP and BSP licenses from El Salvador

ChainCatcher news, recently, the National Digital Assets Commission of El Salvador (CNAD) granted a Digital Asset Service Provider (DASP) license to Bitget. Following the acquisition of a Bitcoin Service Provider (BSP) license in 2024, Bitget has further expanded its compliance layout locally, becoming the third mainstream cryptocurrency exchange globally to obtain dual licenses, after Binance and Bitfinex.The acquisition of both DASP and BSP licenses means that Bitget can legally conduct spot and derivatives trading, staking, yield products, and other one-stop digital asset services in El Salvador. Additionally, the new license also covers infrastructure products such as crypto savings and investments, further enhancing user convenience and asset security in participating in Web3.Bitget's Chief Legal Officer Hon Ng stated, "We are always committed to expanding our business in countries with clear regulatory frameworks and providing quality services to our users. This recognition from CNAD is an important step in Bitget's global compliance strategy. El Salvador has a forward-looking and transparent approach to digital asset regulation, making it very attractive for Web3 companies focused on compliance. In the future, we will continue to support markets with clear regulatory systems and promote the robust development of the crypto economy."
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