6.23 AI Daily: US Air Strikes on Iran Ignite Middle East Situation, Global Economy Faces New Challenges

1. Headlines

1. The United States has carried out airstrikes on Iran's nuclear facilities, leading to a new round of tension in the Middle East.

U.S. President Trump announced that the U.S. military has conducted airstrikes on three nuclear facilities in Iran: Fordow, Natanz, and Isfahan. This is the most severe military action taken by the U.S. against Iran since the 1979 Iran hostage crisis.

Event details: Trump posted on social media that Fordo is the primary target and has implemented a full-scale strike. U.S. Secretary of Defense Rubio confirmed that the operation aims to destroy Iran's nuclear weapons program. The Iranian Foreign Minister responded that Iran reserves all options to defend its sovereignty.

Impact Analysis: This airstrike will further escalate the confrontation between the US and Iran, triggering a new round of tensions in the Middle East. Iran may retaliate through proxy armed attacks, cyber attacks, or cutting off oil transport routes. Geopolitical risks are rising, and crude oil prices may surge, increasing global inflationary pressures. There is a divide in public opinion in the US regarding Trump's military actions, with the Democrats calling for impeachment proceedings.

From a broader perspective, this event reflects the United States' high vigilance against Iran's nuclear program, demonstrating the strong stance of major powers on the issue of nuclear non-proliferation. It also highlights the influence of the United States in the Middle East, as the Trump administration is willing to use military force to protect its interests. In the long run, the turmoil in the Middle East will continue to impact global energy supply and geopolitical dynamics.

2. The Hong Kong "Stablecoin Ordinance" will come into effect in August, establishing a regulatory framework for industry development.

The Hong Kong "Stablecoin Regulation" will officially take effect on August 1, 2025. The regulation establishes a regulatory framework for fiat-backed stablecoins issued in Hong Kong or involving Hong Kong dollar activities, aiming to make Hong Kong a compliant and forward-looking virtual asset hub.

Regulation Content: The "Stablecoin Regulation" constructs a complex semantic system regarding digital value, clarifying the definition of stablecoins, the qualifications required for issuers, and the management of reserve assets. Stablecoin issuers must obtain a license and comply with strict regulations on risk management, anti-money laundering, and more.

Impact Analysis: The "Stablecoin Regulations" mark a critical turning point in Hong Kong's regulation, favorable for attracting quality stablecoin projects to develop in the region, injecting new momentum into the virtual asset industry. At the same time, it provides institutional support for the development of financial technology in Hong Kong, helping to enhance Hong Kong's status as an international financial center.

From a broader perspective, the Ordinance reflects Hong Kong's forward-looking layout in the era of digital economy. Stablecoins are regarded as the next generation of payment and settlement tools and have broad application prospects. Hong Kong's initiative to regulate and set clear rules for the industry will promote the healthy and orderly development of stablecoins in Hong Kong and win a first-mover advantage for Hong Kong.

3. We Harbour and PwC released "Hong Kong We Blueprint", focusing on five key areas.

Hong Kong's We industry organization We Harbour has jointly released the "Hong Kong We Blueprint" with PwC Hong Kong, focusing on five key driving factors: talent, market infrastructure, standards, regulation, and funding and economic contributions.

Blueprint content: This blueprint aims to guide the development direction of the private sector, making We technology and decentralized assets truly part of Hong Kong's financial infrastructure. It focuses on areas such as stablecoins, fund management, and virtual asset trading platforms.

Impact Analysis: The release of "Hong Kong We Blueprint" highlights Hong Kong's ambition in the We sector. By clarifying the development roadmap, it helps attract outstanding talent and projects to settle in Hong Kong, promoting the local We ecosystem's prosperity. At the same time, it injects new momentum into Hong Kong's fintech development.

From a broader perspective, We is seen as the next generation of internet infrastructure, representing the future direction of the digital economy's development. Hong Kong is actively laying out We, which not only helps maintain its leading position in financial technology but also injects new growth momentum into Hong Kong's economy, driving industrial transformation and upgrading.

4. The global AI investment boom continues, with 58% of venture capital flowing into AI in the first half of 2025.

According to the latest research report, global investment in AI startups from January to June 2025 far exceeds that of the first half of 2024. In just the first quarter of 2025, it attracted approximately $60 billion to $73 billion in investment, a year-on-year increase of over 100%.

Investment hotspots: In the first quarter, venture capital received by AI companies accounted for about 58% of the total, compared to approximately 28% a year ago. This clearly indicates the investors' "AI FOMO" mentality. Funds mainly flow to companies deemed capable of making breakthrough advancements in the AI field.

Impact Analysis: A large-scale flow of capital into the AI field will further promote AI technology innovation and industrial application. However, it may also lead to bubbles, and excessive speculation should be monitored. In addition, the development of AI will also bring social and ethical challenges such as employment structure adjustment and privacy security.

From a broader perspective, AI is seen as the core driving force of a new round of technological revolution. Governments and enterprises around the world are increasing their investment in AI; whoever masters AI technology will dominate the future competitive landscape. Therefore, the AI investment boom reflects the major trend of global industrial transformation, which will profoundly impact economic and social development.

5. The cryptocurrency market is experiencing severe fluctuations, with Bitcoin once dipping below the $100,000 mark.

Due to rising geopolitical risks, the cryptocurrency market experienced severe fluctuations on June 23. Bitcoin briefly fell below the $100,000 mark, reaching a low of $98,115. Major cryptocurrencies saw a decline across the board, with Ethereum dropping nearly 5%.

Market Analysis: The short-term decline of Bitcoin is primarily due to the U.S. airstrikes on Iran, which have heightened risk-averse sentiment. However, Bitcoin has not fallen below the important psychological level of $100,000, indicating that the market still has confidence in its long-term prospects. Meanwhile, outflows from exchanges are accelerating, and a shortage of Bitcoin supply has become a foregone conclusion.

Impact Analysis: The rise in geopolitical risks will continue to put pressure on the cryptocurrency market, but the long-term positive fundamentals remain unchanged. Bitcoin's attributes as a safe-haven asset may become more pronounced. At the same time, the continuous accumulation by institutional investors will inject new momentum into the market.

From a broader perspective, the extreme volatility of the cryptocurrency market reflects its high-risk, high-return characteristics. Regulatory policies, geopolitical factors, and other elements will affect market trends. However, overall, cryptocurrencies have gradually been integrated into the global financial system, and their development is an inevitable trend.

2. Industry News

1. Geopolitical risks trigger market panic, Bitcoin briefly falls below the 100,000 USD mark.

Bitcoin briefly fell below the $100,000 mark on June 23, reaching a low of $98,115. This drop was primarily due to escalating geopolitical risks. The United States launched airstrikes on Iranian nuclear facilities, prompting Iran to threaten to close the Strait of Hormuz. This move could severely disrupt global oil transportation, raise oil prices, and further exacerbate inflationary pressures.

Market risk sentiment has surged sharply, and gold and crude oil futures prices experienced significant fluctuations in the early stages of the news release. Bitcoin, as a risk asset, naturally could not escape this. However, Bitcoin quickly halted its downward momentum and found support above $100,000. This indicates that, despite the escalation of geopolitical risks, investors do not perceive it as a systemic risk event.

Analysts point out that Bitcoin's rapid rebound reflects the market's recognition of its safe-haven properties. Compared to gold, Bitcoin is easier to carry and trade, and may become a refuge for capital during turbulent times. If the situation in the Middle East continues to deteriorate, the market may reprice safe-haven assets, pushing Bitcoin to challenge its historical highs. However, one must also be wary of the risks of policy intervention and increased market volatility.

2. Ethereum has experienced a sharp decline, with high leverage rates in the futures market.

Although Bitcoin has shown relatively strong performance, Ethereum has experienced a sharp decline in the past few days. Analysts believe this is mainly due to the high leverage in the futures market.

An analysis report from a certain company indicates that the current price of Ethereum is mainly driven by futures positions and lacks fundamental support. In a previous report, the company had already warned leveraged traders about pushing up the price of Ethereum. As the leverage remains high, there is a greater possibility for Ethereum to continue facing pressure in the future.

In fact, the sharp decline of Ethereum in the past few days is a direct reflection of this position risk. At the same time, the rebound momentum of Bitcoin is limited, mainly due to seasonal patterns. To maintain the current trend structure, Bitcoin needs to hold the key support level of $105,000.

Overall, the structural forces within the cryptocurrency market are still maintaining prices, but external shocks have also put some pressure on the market. Investors need to closely monitor the developments of geopolitical risks and manage their risk exposure prudently.

3. Institutional willingness to hold coins is strong, and long-term Bitcoin holders choose to hold their ground.

Despite the intensified short-term volatility in the market, the confidence of institutions and long-term holders in Bitcoin seems to remain unaffected. Data shows that last week, publicly listed companies increased their holdings by 12,400 Bitcoins, while the mining output was 3,150 Bitcoins, confirming a shortage of Bitcoin supply.

CryptoQuant analyst Avocado_onchain stated that despite Bitcoin's price dropping significantly to $98,000, long-term holders did not choose to sell but instead bought in during the low range. This behavior pattern is similar to historical bottom formations, suggesting that the market may be entering a consolidation phase.

At the same time, the accumulation behavior of institutions is also worth noting. On-chain data shows that OTC balances and ETF inflows are both on the rise, reflecting a strong demand for Bitcoin from institutions. Analysts believe that this stable accumulation pattern aligns with historical upward breakout cycles, suggesting that Bitcoin is likely to break through the $120,000 mark in the future.

Overall, although short-term fluctuations are unavoidable, the long-term prospects for Bitcoin remain bright. Investors need to be patient, seize the right opportunities, and prudently manage their risk exposure.

3. Project News

1. Sui Network ecosystem project DeLorean Labs launched the DMC token and initiated an airdrop campaign.

DeLorean Labs is a department under the famous car company DeLorean, focusing on bringing the DeLorean brand into the blockchain world. The company launched the DMC token on the Sui Network on June 24, 2025, and simultaneously started an 8-round airdrop campaign. The first round of airdrop will allocate 15 million DMC tokens, with subsequent rounds gradually releasing more tokens. Participants need to complete specified tasks to qualify for the airdrop.

This initiative marks an important layout for DeLorean Labs in the Sui ecosystem. The DMC token will serve as the core token of the DeLorean Labs ecosystem, used for fee payments, incentivizing contributors, and more. The airdrop activity aims to attract more users to join the DeLorean Labs ecosystem, laying a solid community foundation for its future development.

As a classic car brand, DeLorean's entry into the blockchain space will undoubtedly bring new vitality to the entire industry. With the high performance and scalability of the Sui network, DeLorean Labs is expected to recreate its glory in the virtual world. Industry insiders generally believe that this collaboration will promote the deep integration of the automotive industry and blockchain technology, providing car owners and enthusiasts with a brand new digital experience.

2. Norwegian mining company Green Minerals plans to raise $1.2 billion to establish a Bitcoin reserve.

Norwegian mining company Green Minerals announced that it will incorporate a Bitcoin treasury strategy into its overall blockchain strategy. The company plans to co-finance $1.2 billion with partners to establish a Bitcoin reserve. This decision reflects Green Minerals' strong confidence in the long-term value of Bitcoin.

As a company focused on green energy and renewable resources, Green Minerals' initiative is seen as an important step for traditional industries to embrace cryptocurrency. Bitcoin reserves can not only provide value storage for the company but also help diversify its investment portfolio risk.

The practices of Green Minerals have attracted widespread attention both inside and outside the industry. Supporters believe that this will set a precedent for more traditional enterprises to enter the cryptocurrency field. Critics, however, worry that excessive speculation may bring uncertain risks. Nevertheless, overall, this news is seen as a positive signal for Bitcoin's broader recognition in the institutional sector.

3. Sui ecological project Walrus and Irys compete over data storage solutions.

The two data storage projects in the Sui ecosystem, Walrus and Irys, have recently engaged in a competition over their technical solutions. Both are committed to providing efficient data storage solutions for the Sui network, but there are differences in their specific implementation paths.

Walrus is a erasure-coded storage layer built on Sui, designed to provide more easily integrated storage services. Irys, on the other hand, is a fully functional integrated "data chain" that provides native block access for contracts. The two differ significantly in architecture, economic models, and other aspects.

This competition reflects the vitality of innovative solutions in the Sui ecosystem. The two projects each have their own characteristics and represent different technological routes. Industry insiders believe that this diversified development is beneficial for the long-term prosperity of the Sui ecosystem, providing developers with more choices.

However, some analysts have pointed out that an excessive number of storage solutions may lead to fragmentation of the ecosystem, increasing the cost of choice for users. Therefore, the Sui ecosystem needs to seek a balance between innovation and unity, providing users with a simple and efficient storage experience.

4. Cartesi launches a new honeypot Dapp to enhance Rollup security.

Cartesi is a project focused on scalability solutions, and its recently launched honeypot Dapp aims to enhance the security of Rollups. This application effectively protects against Sybil attacks through features such as permissionless participating contests.

Rollup, as one of the key technologies for Ethereum scaling, has always received high attention regarding its security. Cartesi's honeypot Dapp gamifies security testing to ensure the integrity of Rollup while enabling projects to effectively validate their systems.

This innovative solution has received widespread acclaim from industry insiders. Analysts believe that Cartesi provides a beneficial exploration to enhance Rollup security. As the Ethereum ecosystem continues to expand, ensuring the security of the infrastructure will become increasingly important. Cartesi's efforts contribute to safeguarding the long-term development of the entire ecosystem.

However, some people have raised concerns that the honey pot Dapp may be abused by attackers, which in turn threatens system security. Therefore, Cartesi needs to closely monitor the operation of this application and promptly fix potential vulnerabilities.

5. Hong Kong Monetary Authority: The "Stablecoin Regulation" provides a comprehensive regulatory framework for issuers.

The head of the Hong Kong Monetary Authority, Yu Weiwen, recently stated that the HKMA has very strict requirements for risk management, whether it is asset reserve management, stabilization mechanisms, redemption policies, or most importantly, anti-money laundering regulations, all of which are fundamentally consistent with the requirements for e-wallets and banking operations. Stablecoins have payment attributes, and the "Stablecoin Regulation" provides issuers with a comprehensive regulatory framework, ensuring that the same risks have the same regulatory rules, which is beneficial for the healthy and sustainable development of the industry.

The "Stablecoin Regulation" is an important law passed in Hong Kong this June, aimed at establishing unified regulatory standards for stablecoin issuers. The regulation clarifies the definition of stablecoins and standardizes key aspects such as issuance and reserve management, laying a legal foundation for the development of stablecoins in Hong Kong.

Industry insiders generally believe that the "Stablecoin Regulation" will bring higher transparency and security to the Hong Kong stablecoin market, which will help attract more institutions to participate. At the same time, this will also promote Hong Kong to become a global stablecoin center, enhancing its status as an international financial center.

However, some analysts have pointed out that overly strict regulations may increase the operational costs for issuers and affect the development speed of stablecoins in Hong Kong. Therefore, regulatory authorities need to seek a balance between promoting innovation and preventing risks.

6. Community Disclosure: Humanity Protocol may be a "domestic project shell", raising privacy concerns.

On June 23, a community member exposed that Humanity Protocol (H) may be a "domestic project shell", as its APP code material library still contains images from the access control vendor Zhangteng Information, raising questions about its authenticity. The whistleblower indicated that users who previously certified with Humanity should be cautious, as Zhangteng Information is backed by a Shanghai outsourcing company that specializes in comprehensive identity recognition outsourcing.

In addition, the whistleblower claims that the project collects a large amount of users' palm print information, raising concerns about privacy and security, and questioning the unclear usage of the data. Currently, the project team has not responded to this. BlockBeats has confirmed that there are indeed relevant images in the code material library of Humanity's APK file.

Humanity Protocol is a social platform based on Arweave's permanent storage. The project has previously garnered considerable attention and is regarded as a strong competitor in the social domain. However, if the allegations are true, its "domestic background" and privacy issues will undoubtedly have a serious impact on its global development prospects.

Industry insiders generally believe that Humanity Protocol needs to provide a comprehensive explanation and clarification regarding this disclosure, and take strong measures to alleviate users' privacy concerns. At the same time, this also serves as a wake-up call, reminding projects that while pursuing innovation, they must place a high emphasis on privacy and security issues.

Overall, this event may have a profound impact on the Humanity Protocol and the entire social track. The industry expects the project party to respond sincerely and rebuild user trust.

4. Economic Dynamics

1. The Federal Reserve's interest rate hike expectations are rising, casting a shadow over the global economic outlook.

At present, the pace of global economic recovery is slowing down, and inflationary pressures remain high. The U.S. core personal consumption expenditures price index rose 4.7% year-on-year (PCE) in May, above the target level of 4%. The Eurozone composite PMI (PMI) recorded 50.2 in June, only slightly above the expansion range. China's industrial profits fell 18.8% year-on-year in May, and the manufacturing industry continued to be sluggish.

Important event: Federal Reserve Chairman Powell recently spoke firmly, suggesting that interest rates will continue to rise to curb inflation. The market expects the Fed to raise rates by another 25 basis points in July, with the total number of rate hikes this year possibly exceeding expectations. European Central Bank President Lagarde also released hawkish signals, raising expectations for interest rate hikes in the Eurozone.

Market reaction: Global stock markets have generally declined, with investors increasingly worried about the economic outlook. The three major U.S. stock indexes have fallen more than 2% this week. The European Stoxx 600 index has dropped over 1% this week. The Asia-Pacific markets are also not optimistic, with the Nikkei 225 index down 1.7% this week.

Expert analysis: Jan Hatzius, chief economist at Goldman Sachs, stated that the U.S. economy is entering a "slowdown" phase, but it is still expected to avoid a recession. He anticipates that the Federal Reserve will end its rate hike cycle in September and may begin to lower rates again in 2024. Citigroup, on the other hand, believes that global economic growth will bottom out in 2024, forecasting a mild recession in both the U.S. and Europe.

2. The Middle East geopolitical conflicts raise concerns about energy crises.

Recently, the situation in the Middle East has been turbulent, and the relationship between the United States and Iran remains tense. On June 22, the U.S. military conducted airstrikes on Iranian nuclear facilities, to which Iran subsequently launched missile attacks against Israel. The Houthis have threatened to blockade the Strait of Hormuz, which, if implemented, will severely impact global oil transportation.

Important Event: The International Energy Agency ( IEA ) has released a report warning that if the Strait of Hormuz is closed, crude oil prices could soar above $130 per barrel. This would intensify global inflationary pressures and could trigger a new round of economic recession.

Market reaction: Energy stocks surged in response, and the prices of oil and natural gas futures also saw significant increases. The U.S. energy stock index rose 4.3% this week. Brent crude futures increased by 3.8% on the week, closing at $121.33 per barrel.

Expert opinion: Jim Reid, a macro strategist at Deutsche Bank, stated that if the conflict in the Middle East continues to escalate, it will pose a heavy blow to the global economy. He expects that soaring oil prices will push the U.S. inflation rate above 6%, forcing the Federal Reserve to increase the pace of interest rate hikes, thereby increasing the risk of economic recession.

3. The internationalization of the Renminbi gains new momentum, and offshore Renminbi stablecoins may become a new pathway.

With the rapid development of the digital economy, stablecoins have attracted attention as efficient cross-border payment and settlement tools. China is actively promoting the internationalization of the renminbi, and offshore renminbi stablecoins may become a new breakthrough.

Important Event: The Hong Kong "Stablecoin Regulation" will officially take effect on August 1, providing a comprehensive regulatory framework for stablecoin issuers, ensuring that similar risks are governed by the same regulatory rules. This lays a legal foundation for the development of offshore RMB stablecoins.

Market reaction: Industry insiders generally believe that the development of the Renminbi stablecoin "should be early rather than late". The offshore Renminbi stablecoin can advance in parallel with the digital Renminbi, participating in the competition of the international monetary system and aiding in the internationalization of the Renminbi.

Expert analysis: Liu Qiao, Executive Dean of the Chongyang Institute for Financial Studies at Renmin University of China, believes that the internationalization of the Renminbi requires the coexistence of multiple currency forms. Offshore Renminbi stablecoins can play a role in cross-border payments and cryptocurrency asset trading, while the digital Renminbi focuses on domestic retail payment scenarios, and the two can form a positive complement.

5. Regulation & Policy

1. The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, explained that during the initial implementation of the "Stablecoin Regulation", only a few licenses may be issued.

The President of the Hong Kong Monetary Authority, Yu Weiwen, recently stated that the "Stablecoin Ordinance" will provide a stringent regulatory framework for stablecoin issuers, ensuring the healthy and sustainable development of the industry. Yu Weiwen pointed out that the Monetary Authority has very strict requirements for risk management, whether it is asset reserve management, stabilization mechanisms, redemption policies, or most importantly, anti-money laundering regulations, which are nearly the same as those for e-wallets and banks. Since stablecoins have payment attributes, the "Stablecoin Ordinance" offers issuers a comprehensive regulatory framework, ensuring that similar risks are subject to the same regulatory rules.

The "Stablecoin Regulation" aims to establish the first government regulatory framework for stablecoins pegged to the US dollar. The regulation was passed with a significant majority of 68-30, meaning that digital assets will be brought under regulatory oversight. Yu Weiwen expects that in the initial implementation phase, only a small number of licenses may be issued, and their use will be restricted. Institutions participating in the sandbox program may not necessarily receive a license and will still need to apply.

Market participants generally believe that the introduction of the "Stablecoin Regulation" will lay a solid foundation for the development of stablecoins in Hong Kong. The Chairman of the Hong Kong FinTech Association, Deng Lianwu, stated that the regulation provides clear regulatory guidance for stablecoin issuers, which is beneficial in attracting more companies to issue stablecoins in Hong Kong. At the same time, the regulation also offers greater protection for investors.

Peter Brewin, a partner at PwC Hong Kong and head of digital assets, believes that the passage of the regulations marks an important step for Hong Kong in the regulation of digital assets. He pointed out that the regulations set strict capital requirements and reserve management rules for stablecoin issuers, which helps maintain market stability.

2. South Korean payment giant Kakao Pay applies for multiple patents related to stablecoins

South Korean payment giant Kakao Pay recently applied for 18 trademark rights with the Korean Patent Office, covering services in areas such as crypto transfers, brokerage, electronic payments, and token issuance. These trademarks will combine the "KRW"( won symbol) with letters representing Kakao Pay like "K" and "P", such as "KRWKP", "KWRP", and "KPKRW".

This move is seen as Kakao Pay preparing to issue a Korean won stablecoin. Following the news, Kakao Pay's stock price surged 17.3%, with a market capitalization exceeding 1 trillion won. Analysts believe that Kakao Pay's action is aimed at seizing market share, especially in the context of the South Korean government proposing the "Basic Law on Digital Assets," which will allow private companies to issue Korean won stablecoins.

The South Korean government has been promoting digital transformation and has made the issuance of a digital currency for the Korean won a priority. The governor of the Bank of Korea, Chang Yong-woo, has stated that a pilot project for the central bank digital currency will be launched in 2025. At the same time, the government is also researching stablecoins issued by private enterprises denominated in Korean won.

Financial experts point out that stablecoins are expected to become an important component of South Korea's digital currency ecosystem. They can enhance the efficiency of cross-border payments, reduce costs, and pave the way for South Korean companies to enter overseas markets. However, the regulation of stablecoins is also a significant challenge, requiring clear rules to manage risks.

3. U.S. Senator Lummis Reintroduces the Responsible Financial Innovation Act to Regulate the Crypto Industry

U.S. Senator Cynthia Lummis recently reintroduced the Responsible Financial Innovation Act, a piece of legislation aimed at providing clarity and regulatory certainty for the burgeoning cryptocurrency industry. The bill has garnered close attention from the industry and is seen as an important step in the U.S. government's efforts to regulate the crypto space.

The main content of the "Responsible Financial Innovation Act" includes: establishing a unified regulatory framework for cryptocurrencies and digital assets; clarifying the definitions of securities and commodities to determine which crypto assets fall under the jurisdiction of securities law; requiring cryptocurrency issuers to register; and formulating regulatory rules for decentralized finance (DeFi), among others.

Senator Lummis stated that the bill aims to provide certainty for innovators while protecting consumers and investors. She emphasized that crypto assets have become a multi-trillion dollar industry, but there is currently a lack of a comprehensive regulatory framework, which poses risks to investors.

Reactions to the bill among cryptocurrency industry professionals are mixed. Supporters believe it provides the necessary regulatory clarity for industry development. However, there are also concerns that excessive regulation could stifle innovation.

Experts analyze that although the bill is a good start, there are still some issues that need to be addressed. For example, the regulatory details for decentralized finance projects remain unclear. In addition, the bill needs to gain support from other members of Congress to ultimately become law.

4. The European Commission proposes new regulations for the transfer of crypto assets

The European Commission recently proposed a new regulation on crypto assets aimed at strengthening the oversight of crypto asset transfers. This proposal is part of the EU's regulatory framework for crypto assets (MiCA), which is expected to come into effect in 2024.

According to the proposal, cryptocurrency service providers will be required to collect and report information on cryptocurrency transfers exceeding 1000 euros in value, including the identities of the sender and receiver. This regulation aims to combat money laundering and terrorist financing activities.

The European Commission's Commissioner for Financial Services, Mairead McGuinness, stated that the pace of innovation in the crypto asset sector has outstripped regulatory measures, leading to gaps in existing rules. The new regulations will help combat illegal activities while ensuring the integrity of the crypto asset market.

Opinions among industry professionals on this rule vary. Supporters believe it will increase transparency and accountability in the industry. However, some are concerned that excessive regulation may harm privacy rights and potentially stifle innovation.

Experts analyze that the implementation of new rules will bring additional compliance costs to cryptocurrency companies. However, in the long run, this may increase investor confidence and benefit the healthy development of the industry. Nevertheless, the specific implementation details and enforcement intensity remain to be observed.

Overall, this move by the EU reflects the regulators' attempt to keep pace with the rapid development of crypto assets, seeking a balance between promoting innovation and mitigating risks.