AICoin Daily Report (March 7)

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2 days ago

1. Trump Considers Signing Bitcoin Reserve Order

2. Bitcoin Reserve Bill Passed in Texas Senate

3. U.S. Senator Proposes Limiting Bank Regulatory Authority

Tim Scott, Chairman of the U.S. Senate Banking Committee, has proposed a bill aimed at prohibiting regulators from overseeing banks on the grounds of "reputational risk." This move comes in response to accusations from the crypto industry that U.S. government agencies are excluding it from the financial system. The Republican senator from South Carolina submitted the bill on Thursday, stating that the legislation would "limit the weaponization of federal banking agencies and eliminate the power of regulators to use 'reputational risk' in the regulatory process." The Federal Reserve defines "reputational risk" as "the risk of loss resulting from negative public opinion (whether true or not) regarding an institution's business practices, which may lead to customer attrition, costly litigation, or revenue decline." -Original

4. New York State Proposes Legislation to Prevent Cryptocurrency Fraud

Odaily Planet Daily reports that New York State legislator and Chair of the New York State Assembly Banking Committee Clyde Vanel has introduced Bill A06515, which will establish criminal penalties specifically aimed at preventing cryptocurrency fraud and protecting investors from so-called "Rug Pulls" in the industry, safeguarding cryptocurrency investors from Meme coin fraud. -Original

5. BlackRock Buys Bitcoin Again

Arkham officials stated that BlackRock has purchased Bitcoin again after a two-week hiatus, currently holding $51.9 billion in Bitcoin. -Original

6. World Liberty Financial Increases Cryptocurrency Holdings

Ahead of the White House cryptocurrency summit, World Liberty Financial has increased its cryptocurrency holdings, acquiring over $25 million, including significant amounts of ETH, WBTC, and MOVE. -Original

7. CME Observation: Probability of Fed Rate Cut in March Drops to 7%

Odaily Planet Daily reports that last week, the number of Americans applying for unemployment benefits fell back to moderate levels seen at the beginning of the year. For the week ending March 1, initial jobless claims decreased by 21,000 to 221,000, below the expected 233,000. Continuing claims for unemployment benefits rose to 1.9 million last week, nearing the highest level in three years recorded in January, indicating that job seekers are facing more difficulties in finding new employment. Economists are closely monitoring weekly unemployment claims for signs of deterioration in the job market, as the Trump administration is taking steps to reduce the size of the federal government, and concerns over tariff impacts are also affecting business decisions. (Jin Shi) According to CME FedWatch data, following the release of U.S. initial jobless claims, the probability of a 25 basis point rate cut by the Fed in March dropped to 7% (down from 9%), with approximately 13 days remaining until the next FOMC meeting. -Original

8. Japan Proposes to Classify Cryptocurrency as a New Asset Class

Odaily Planet Daily reports that Sota Watanabe, CEO of Startale, revealed on X that Japan's ruling party has proposed establishing a new regulatory framework for cryptocurrencies under the Financial Instruments and Exchange Act. If the proposal is passed this year, cryptocurrencies may not be regulated as securities but rather classified as a new asset class, potentially leading to the launch of cryptocurrency ETFs and a reduction in tax rates from a maximum of 55% to 20%. The government has been engaging in dialogue with Japanese industry leaders, and this move is seen as a positive outcome of regulatory and industry collaboration, expected to attract more Japanese investors to the on-chain market. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com)

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