Wu says daily selection of encryption news - US House of Representatives releases draft regulation for digital asset market structure

1. The U.S. House of Representatives released a draft for regulating the structure of the digital asset market.

The U.S. House Financial Services Committee and the Agriculture Committee jointly released the “Digital Asset Market Structure Regulatory Framework” aimed at establishing a clear regulatory framework for cryptocurrency, protecting consumers, promoting innovation, and strengthening the U.S.'s leadership in this field. The draft plans to hold a joint hearing on May 6, but Democratic Representative Maxine Waters plans to block the meeting and will hold a “shadow hearing” focusing on the relationship between the Trump family and the cryptocurrency industry.

2. US President Donald Trump has scheduled two cryptocurrency-related dinner events this month.

US President Donald Trump has scheduled two crypto-related dinner events this month, aimed at raising funds and engaging with the crypto community. The first is the “Crypto and AI Innovators Dinner” on May 5, with an entry fee of up to 1.5 million dollars, hosted by MAGA Inc., featuring special guest David Sacks, who is actively involved in crypto and AI policy-making. The second event will be held on May 22 at Trump National in the Washington area, with eligibility based on the number of $TRUMP meme tokens held, inviting the first 220 to dine with Trump.

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3.QCP: The cryptocurrency market has stagnated, and foreign exchange may become the leading signal for the next macro storm.

QCP analysis points out that the implied volatility in the crypto market remains sluggish, with short-term options skew returning to neutral, and spot prices lacking clear direction. Meanwhile, gold rose nearly 3% this Monday, reflecting that the market is increasing its pricing power against the weak dollar and geopolitical uncertainty. Moving forward, the market may face two vastly different trends: one is a sudden volatility shock that detaches Bitcoin from its safe-haven correlation with gold, re-linking it to risk assets; the other is that trade factors become the dominant logic, with strong Asia-Pacific currencies enhancing regional bargaining power, catalyzing global capital reallocation. As the correlation between assets gradually loosens, the forex market may once again become a leading signal of macro risk evolution.

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4. The U.S. CFTC plans to participate as an observer in several industry tokenization pilot projects.

According to crypto journalist Eleanor Terrett, Caroline D. Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), stated at the Network Medici conference that the CFTC plans to participate as an observer in several industry tokenization pilot projects to gain firsthand insight into the operational effectiveness of tokenized assets in real-world scenarios and to accumulate relevant regulatory technical experience.

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5. UK Treasury: The UK will not follow the US government in holding Bitcoin.

At the Financial Times Digital Asset Summit in London, Emma Reynolds, Secretary of State for Economic Affairs at the UK Treasury, said that the UK would not follow the US government’s lead in stockpiling Bitcoin, “which is not our plan”. She stressed that the UK market is not suitable for the move, but will still strengthen cooperation with the US in the field of digital assets, and the two sides have established a working group of senior officials and will hold a “regulatory forum” in June. In addition, the UK is exploring the use of distributed ledger technology (DLT) to issue sovereign debt, with suppliers expected to be identified by the end of the summer. Reynolds also made it clear that the UK will not copy the EU’s MiCA regulatory framework, preferring to allow digital assets to operate within the existing traditional financial regulatory framework.

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6. A dormant address transfers 3,422 BTC after 12 years, with a total value of approximately 324 million USD.

A dormant address that had been inactive for 12 years transferred 3,422 BTC to a new address, with a total value of approximately 324 million USD. These bitcoins were first withdrawn from the now-closed ancient exchange BTC-e in 2012, when the price was only 13.5 USD, making their value at the time around 46,000 USD—an increase of 7,018 times.

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