US Senate Passes Stablecoin Regulation Bill, House Under Pressure

The U.S. Senate recently passed a landmark stablecoin regulation bill, marking the first time the Senate has approved significant cryptocurrency legislation. The bill advances the federal government's efforts to regulate stablecoins while also exerting pressure on the House of Representatives to plan the next phase of national regulation of digital assets.

The legislation titled "GENIUS Act" was initiated by Republican Senator Bill Hagerty. Before the official vote, Hagerty expressed gratitude to some of his fellow senators who supported the bill. It is noteworthy that the bill was passed by an overwhelming majority less than a week ago, and most expected it to pass smoothly.

Next, the House of Representatives needs to decide how to advance the relevant legislation. In April of this year, the House Financial Services Committee proposed its own stablecoin bill, the "Stablecoin Transparency and Accountability to Promote a Better Ledger Economy Act." However, this bill has not yet been submitted for a full House vote.

Experts believe that the passage of this bill marks an important step for the United States in cryptocurrency regulation. It not only provides a clearer regulatory framework for the stablecoin market but also creates a more favorable environment for the development of the entire cryptocurrency industry. However, the specific implementation of the bill will require further discussion and decision-making by the House of Representatives.

Trump makes strong comments on the Iran situation

Trump posted on social media, taking a hard stance against Iran. He expressed hope for a complete resolution of the nuclear issue with Iran and is considering a range of options, including the possibility of launching an attack on Iran.

According to reports, Trump discussed various countermeasures during a meeting with senior advisors. Although no final decision has been made yet, Trump hopes to ensure that Iran cannot develop its own nuclear capabilities. Some officials have stated that they have been urging the resolution of the issue through diplomatic means.

At the same time, Israel is expected not to slow down its actions against Iran. The entire situation remains very tense, and the international community is closely monitoring the developments.

Cryptocurrency Market Trends

As of the time of writing, the prices of major cryptocurrencies are as follows:

• BTC: $104,691, 24-hour drop of 2.2%
• ETH: $2,516.29, 24-hour change -2.0%
• BNB: $648.83, 24-hour change -0.5%
• SOL: $148.20, 24-hour decline of 2.4%
• DOGE: $0.1701, 24-hour change -2.4%
• XRP: $2.16, 24-hour change -4.4%
• TRX: 0.2718 USD, 24-hour change -1.4%

The overall market is showing a slight downward trend, and investors should closely monitor the subsequent movements.

The Federal Reserve will discuss relaxing bank leverage ratio requirements

The Federal Reserve announced that it will hold a board meeting on June 25 to discuss plans to amend supplemental leverage ratio requirements. This could be the first of several plans by the Federal Reserve to relax regulations, aimed at reforming the way it regulates and supervises some of the largest and most complex banks in the United States.

Supplementary leverage ratio requires banks to allocate capital reserves for assets regardless of risk. Banks have been requesting changes to this regulation for years, believing it may hinder their ability to enter the intermediate government bond market during times of stress.

Although the Federal Reserve has not yet provided details on the proposals under consideration, it may exempt traditionally safe assets or modify the formula used to calculate leverage ratios. This will be the first meeting held after the appointment of the Federal Reserve's new top regulator, Bowman, and is expected to kick off a broad plan to reconsider banking rules.

Thailand Approves Tax Incentives for Cryptocurrency Sales Profits

The Thai Cabinet has approved a tax incentive policy for profits from cryptocurrency sales. Under this policy, individuals will enjoy a five-year personal income tax exemption on profits obtained from the sale of cryptocurrency.

This initiative demonstrates the Thai government's supportive attitude towards the cryptocurrency industry, which is expected to attract more investors and businesses to participate in the country's cryptocurrency market. At the same time, it may also promote the development of Thailand's digital economy and enhance its competitiveness in the Southeast Asian region.

Experts believe that this policy will inject new vitality into Thailand's cryptocurrency ecosystem, possibly stimulating innovation and promoting the development of related technologies. However, some also point out that the government needs to find a balance between encouraging development and preventing risks to ensure the healthy and sustainable development of the market.

JPMorgan Chase to Pilot Issuance of Deposit Token JPMD on Base Network

JPMorgan Chase, the world's largest bank, announced the launch of a pilot project for a token named JPMD, which represents the bank's dollar deposits. This move indicates that financial institutions are further deepening their involvement in the digital asset space.

According to Naveen Mallela, the global co-head of Kinexys, JPMorgan's blockchain division, the bank will conduct a transaction in the coming days to transfer a certain amount of JPMD from the bank's digital wallet to a large cryptocurrency exchange.

JPMD will pilot issuance on a blockchain related to Coinbase. This initiative not only demonstrates the recognition of blockchain technology by traditional financial institutions but may also pave the way for future financial innovations.

Industry experts believe that JPMorgan's move may encourage more large financial institutions to enter the digital asset space, promoting the integration of traditional finance and the cryptocurrency sector. However, some also point out that this attempt may face regulatory challenges and needs to be approached cautiously.

Coinbase Seeks Approval from the U.S. SEC to Offer Blockchain Stocks

According to market news, major cryptocurrency exchange Coinbase is seeking approval from the U.S. Securities and Exchange Commission (SEC) to offer blockchain-based stock services.

This initiative reflects Coinbase's ambition to expand its business scope, attempting to combine traditional financial assets with blockchain technology. If approved, this will be an important step towards further integration of the cryptocurrency industry with traditional financial markets.

However, considering the SEC's strict regulatory stance on the cryptocurrency industry, Coinbase's application may face rigorous scrutiny. Industry insiders believe that if Coinbase successfully obtains approval, it could pave the way for other companies to provide similar services, thereby promoting innovation across the entire industry.

Deutsche Bank plans to launch a tokenized platform in November

Deutsche Bank is preparing to launch a minimum viable product (MVP) for its blockchain-as-a-service platform in November 2025. The platform aims to support asset tokenization and related services, with the goal of reducing the upfront hardware and infrastructure costs for enterprises exploring tokenization technology.

This platform will allow asset managers, wealth advisors, and other financial companies to create and distribute tokenized assets and provide related services. It is reported that Deutsche Bank has previously experimented with tokenized assets through its digital asset management platform Digital Asset Management Access 2 (Dama 2).

Industry experts believe that Deutsche Bank's move reflects the increasing importance that traditional financial institutions place on blockchain technology and tokenized assets. This could encourage more institutional investors to enter the cryptocurrency and digital asset markets, promoting further development and maturation of the industry.

However, some analyses indicate that the success of tokenization platforms also needs to overcome various challenges, including regulatory compliance, market acceptance, and technical implementation issues. This attempt by Deutsche Bank will provide valuable experience and insights for the entire industry.