Major Progress in US Regulation of Stablecoin Legislation

The U.S. Senate recently passed a landmark stablecoin regulatory bill, marking the first time the Senate has approved significant cryptocurrency legislation. The bill aims to promote federal regulation of stablecoins in the United States and lay the groundwork for a national digital asset regulatory framework.

After the bill is passed, the focus will shift to the House of Representatives. In April of this year, the House Financial Services Committee introduced its own stablecoin legislative proposal, but it has not yet been submitted for a full vote. Next, the House needs to decide how to advance this legislative work.

Industry insiders believe that the passage of this bill marks significant progress for the United States in cryptocurrency regulation, promising clearer regulatory guidance for industry development. However, further coordination between the two chambers is needed to form a comprehensive regulatory framework.

Trump Calls on Iran to Abandon Nuclear Program

Recently, U.S. President Trump posted on social media, urging Iran to abandon its nuclear program. It is reported that Trump hopes to completely resolve the nuclear issue with Iran, but no specific decisions have been made yet.

There are reports that Trump is considering a range of options, including a possible strike against Iran. However, some officials indicate that Trump still hopes to resolve the issue through diplomatic means to ensure that Iran cannot develop its own nuclear capabilities.

Analysts point out that the relationship between the US and Iran has recently become tense again, but there is still the possibility for both sides to ease tensions through negotiations. The future development of the situation is worth continuous attention.

Cryptocurrency Market Trends

As of the time of writing, major cryptocurrency prices have generally declined:

• The price of BTC is $104,691, with a 24-hour decrease of 2.2%.
• The price of ETH is $2,516.29, with a 24-hour decline of 2.0%.
• The price of BNB is $648.83, with a 24-hour decline of 0.5%.
• The price of SOL is $148.20, with a 24-hour decline of 2.4%.
• The price of DOGE is $0.1701, with a 24-hour decrease of 2.4%.
• The price of XRP is $2.16, with a 24-hour decline of 4.4%.
• The price of TRX is $0.2718, with a 24-hour decline of 1.4%.

The Federal Reserve will discuss relaxing bank leverage requirements

The Federal Reserve announced that it will hold a board meeting on June 25 to discuss revising the supplementary leverage ratio requirements for large banks. This will be the first meeting under the new top regulator, Bowman, and is expected to initiate a broad plan to reconsider banking rules.

Relaxing leverage ratio requirements may be the first step in the Federal Reserve's plan to ease regulations. The banking industry has been requesting modifications to the supplementary leverage ratio for years, believing that the current rules may hinder their ability to enter the intermediate Treasury market during times of stress.

Analysts point out that this move aims to reform the way the Federal Reserve regulates large complex banks, but the specific modification plan is yet to be announced. This change will have significant implications for the banking industry and requires close attention to subsequent developments.

Thailand Approves Tax Incentives for Cryptocurrency Sales Profits

The Thai cabinet has approved a new policy that implements a five-year personal income tax exemption on profits from cryptocurrency sales. This move shows that the Thai government is taking proactive measures to support the development of the cryptocurrency industry.

Industry insiders believe that this tax incentive policy will help attract more investors and companies into the Thai cryptocurrency market, promoting industry innovation. However, the specific implementation details and impacts remain to be further observed.

JPMorgan Chase to Pilot Issuance of Deposit Token JPMD

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

It is reported that JPMorgan Chase will pilot the issuance of JPMD on a certain blockchain network and plans to conduct a transaction in the coming days, transferring a certain amount of JPMD from the bank's digital wallet to a major cryptocurrency exchange.

Industry insiders say that this move shows traditional financial institutions are accelerating their embrace of blockchain technology, which is expected to promote the application of digital assets in a broader financial field. However, challenges such as regulatory compliance still exist and further exploration is needed.

Deutsche Bank plans to launch an asset tokenization platform

Deutsche Bank plans to launch a minimum viable product (MVP) for its blockchain-as-a-service platform in November 2025 for asset tokenization and services. The platform aims to reduce the upfront costs for enterprises exploring tokenization, allowing asset managers, wealth advisors, and others to create and distribute tokenized assets.

According to reports, Deutsche Bank has previously conducted experiments with tokenized assets through its digital asset management platform. Analysts believe that this move indicates Deutsche Bank is actively positioning itself in the digital asset space, which is expected to promote the deep integration of traditional finance and blockchain technology.

JD.com plans to apply for a global stablecoin license

Recently, Liu Qiangdong, Chairman of the Board of JD Group, stated that JD hopes to apply for stablecoin licenses in major currency countries worldwide, aiming to achieve foreign exchange among global enterprises through stablecoins, reducing cross-border payment costs by 90% and increasing efficiency to within 10 seconds.

Liu Qiangdong stated that JD.com will first focus on B-end payments, and in the future will also penetrate into C-end payments, hoping to ultimately enable consumers to use JD.com stablecoin for payments globally.

Industry insiders believe that this plan shows that JD.com is actively laying out its strategy in the digital currency field, which is expected to improve the efficiency of cross-border payments. However, the regulatory challenges faced by the global stablecoin business cannot be ignored, and future developments need to be closely monitored.