4.5 AI Daily Report: Global financial market turbulence intensifies, tech giants continue to face layoffs.

1. Headlines

1. Federal Reserve Chairman Powell delivers a key speech: inflation pressures persist, policy stance may tighten.

In his latest speech, Federal Reserve Chairman Powell stated that although the overall economy remains robust, inflationary pressures persist, and the labor market is still overheated. He emphasized that the Fed's top priority is to achieve the inflation target, which requires maintaining policy flexibility and not ruling out the possibility of further interest rate hikes or balance sheet reduction.

Powell pointed out that although the latest data shows that inflation has slowed down, it is still far from the ideal level. At the same time, the job market remains tight, and there is increasing pressure on wage growth. He warned that if inflation expectations begin to become unanchored, the Federal Reserve will have to adopt more aggressive policies in response.

Analysts believe that Powell's speech has released hawkish signals, suggesting that the Federal Reserve will continue to raise interest rates in the coming months. This could exacerbate the risks of an economic slowdown, but the Fed seems more inclined to prioritize curbing inflation. The market generally expects two to three more rate hikes this year.

2. Tesla announces large-scale layoffs: Musk says "living on borrowed money"

Tesla CEO Elon Musk revealed in a recent internal memo to employees that the company will lay off about 10% of its staff. Musk stated that due to increased inflationary pressures and the rising risk of an economic slowdown, the company must take action to control costs.

This is Tesla's large-scale layoffs three years later. Musk stated in a letter that the company is currently "borrowing money to get by." He also warned that if the situation worsens further, the company may have to cut more jobs.

Analysts point out that the layoff plan reflects the unprecedented pressure Tesla is facing. On one hand, high inflation has led to rising raw material and operating costs; on the other hand, rising interest rates and supply chain disruptions have also imposed a heavy burden on the company.

In addition, due to increasing concerns about the economic outlook, consumer demand for luxury products may decline, which will undoubtedly further squeeze Tesla's profit margins. Some analysts believe that Musk's move is to ensure the company's survival in the potential economic recession.

3. EU imposes record fine on Google: Antitrust investigation escalates again

The EU antitrust regulator has imposed a record fine of 6.8 billion euros (, equivalent to about 7.2 billion dollars ), on Google, accusing the company of abusing its dominant market position on the Android mobile operating system to restrict competitors. This is the largest fine ever imposed by the EU on a single company.

Margrethe Vestager, the EU antitrust commissioner, stated that Google's actions "illegally obstruct competition and innovation." She added that this behavior ultimately harms the interests of consumers and Android users.

Google has stated that it will appeal the ruling and insists that the company's practices comply with competition law. However, analysts believe that the EU's move marks a new phase in antitrust scrutiny of tech giants, with enforcement efforts set to intensify.

UK and US regulators are also investigating Google over similar allegations. If Google is ultimately found guilty, it may have to fundamentally adjust its business model, which would have far-reaching implications for the entire tech industry.

4. The world's largest cryptocurrency exchange was hacked: hundreds of millions in funds stolen

The world's largest cryptocurrency exchange was hacked, and approximately $650 million worth of cryptocurrencies were stolen. This is the largest cryptocurrency theft incident in history.

The CEO of the exchange confirmed the incident on social media and stated that the company is making every effort to trace the hacker's whereabouts. He also called for global law enforcement agencies to get involved in the investigation.

Analysts pointed out that this incident once again highlights the security vulnerabilities of cryptocurrency exchanges. Due to the lack of effective regulation, hackers can relatively easily attack these platforms.

At the same time, there are opinions that the decentralized nature of cryptocurrencies makes them easier tools for criminals. Some countries have already begun discussions on how to regulate cryptocurrencies.

Regardless, this theft will impact the entire cryptocurrency market. Investor confidence in exchanges will be shaken, and calls for regulation may intensify as a result.

5. The wave of layoffs among Silicon Valley tech giants continues: Amazon, Meta and others follow suit.

After Tesla announced large-scale layoffs, tech giants such as Amazon, Meta(, the predecessor of Facebook), and Twitter also announced layoff plans one after another, causing upheaval in the industry.

Amazon has stated that due to high inflation and increased risks of economic slowdown, the company will lay off about 18,000 employees, accounting for approximately 6% of its total workforce. Meta, on the other hand, plans to lay off about 11,000 employees, which represents 13% of its total staff.

Analysts believe this reflects the unprecedented pressures facing the technology industry. The boom during the pandemic is over, and companies have to control costs through layoffs.

At the same time, technology companies are also facing increasingly strict scrutiny from regulators. For example, Meta was recently fined heavily by the EU for privacy issues.

However, there is also a viewpoint that the wave of layoffs may bring new opportunities to the technology industry. After a large number of talents are laid off, startups will have the chance to absorb these talents, driving innovation.

Overall, the technology industry is undergoing a significant turning point. The future direction of development will largely depend on the macroeconomic situation and the trends in regulatory policies.

2. Industry Data

1. PI

The recent trading price of PI is $0.5522, with a daily decline of -12.80%.

2. BTC

The recent transaction price of BTC is $84092.3000, with a daily increase of +0.70%.

3. ETH

The recent transaction price of ETH is $1818.3300, with a daily increase of +0.20%.

4. XRP

The recent transaction price of XRP is $2.0930, with a daily increase of +2.00%.

5. GT

The recent transaction price of GT is $22.1700, with a daily change of +0.00%.

3. Industry News

1. Bitcoin demonstrates resilience amid the tariff turmoil, sparking optimism in the market.

Bitcoin has remained relatively stable over the past 24 hours, hovering around $83,000. Despite the Trump administration announcing a new round of tariffs on global trade partners, causing turmoil in traditional financial markets, Bitcoin has not been significantly affected.

Analysts believe that Bitcoin's performance in a tumultuous market highlights its independence and decentralized advantages as "digital gold." Compared to traditional assets, Bitcoin is less affected by geopolitical factors, and investors respond more positively to its volatility, which provides support for Bitcoin's price.

In addition, Bitcoin is regarded as one of the most liquid assets globally, with its market depth advantage evident during trading. Some institutional investors, such as companies like GameStop and Strategy, have recently invested in Bitcoin, which may also affect its price trends.

Nevertheless, analysts remain cautious about Bitcoin's strong performance compared to the Nasdaq, as potential Treasury purchases could change the situation. Overall, Bitcoin's independent behavior has enhanced its reputation as "digital gold," providing investors with a potential hedge during turbulent times.

2. XRP leads the rally amid tariff tensions, focusing on the resistance level of $2.58

In the past 24 hours, the price of XRP has risen by more than 12%, making it one of the strongest performing cryptocurrencies. Analysts believe that this increase has been driven by new buying pressure and China's retaliatory tariffs against the United States.

Technical analysis shows that the rise of XRP aligns with bullish signals, currently testing the resistance level of $2.11. If it can successfully break through, the next resistance level will be $2.58. According to the analysis, if Bitcoin can maintain its upward momentum, XRP is expected to reach the price level of $2.58 soon, with Bitcoin currently trading at $83,810.

However, some analysts are cautious about the rise of XRP. They point out that Trump's tariff policy may increase the risk of a global economic recession, which could disrupt the psychological expectations of risk assets, increasing the likelihood of Bitcoin dipping to $70,000 in the next 10 days.

Overall, XRP has performed strongly amid tariff tensions, but investors still need to closely monitor changes in the global economic situation and its potential impact on the cryptocurrency market.

3. Ethereum faces short-selling pressure, focus on the key support level of $1880

Ethereum has shown little movement in the past 24 hours, hovering around the price of $1880. Analysis indicates that Ethereum is facing some bearish pressure, including losing market share to the decentralized finance sector, as well as some technical indicators signaling a bearish trend.

Specifically, the Relative Strength Index (RSI) for Ethereum shows signs of being oversold, while trading volume and whale activity indicate a weakening of buying interest. If the key support level at $1880 is broken, Ethereum may decline further.

On the other hand, some analyses suggest that the price fluctuations of Ethereum may attract more trading activity, thereby increasing trading volume and price. Buying behavior from large traders and institutional investors may provide some support for Ethereum.

Overall, Ethereum is currently at a critical crossroads. Future price movements will depend on whale activity, changes in trading volume, and competition with other crypto assets. Investors need to closely monitor these factors to seize potential investment opportunities or risks.

4. Solana is favored by institutional investors, and the price is expected to rebound to $180.

Solana is a popular cryptocurrency asset with a market capitalization of $72 billion. Recently, Solana's trading volume has significantly increased, attracting the attention of both retail and institutional investors.

Analysis shows that some whale addresses are buying Solana in large quantities, which could drive a price rebound. If this trend continues, Solana is expected to break through the current resistance level of $180.

Solana, as a "Made in America" cryptocurrency, may be favored amid global trade tensions. Some institutional investors may view it as a tool to hedge against the risks of traditional assets.

However, some analysts remain cautious about Solana's upside potential. They point out that the global economic slowdown and inflationary pressures may affect the performance of risk assets, and Solana, as an emerging asset, is unlikely to be exempt from this.

Overall, Solana is expected to rebound in the short term driven by institutional investors, but investors still need to closely monitor changes in the macroeconomic situation and its potential impact on the cryptocurrency market.

4. Project News

1. The Gensyn testnet is online, promoting more efficient and decentralized AI training.

Gensyn is a blockchain-based decentralized artificial intelligence training platform. The project aims to create an efficient, fair, and transparent AI training environment by leveraging distributed computing power and open collaboration.

Gensyn recently announced that its test network is officially online, launching the RL Swarm built on a decentralized network to achieve collaborative model training. The system is fully open-source, allowing anyone to run nodes and participate in training. The core architecture consists of three parts: execution, communication, and verification, encompassing innovative technologies such as distributed computing power and dynamic pipeline parallelism. The verification protocol ensures that the results from computing power providers are correct, utilizing adjudicative delegation and the Verde verification system.

Gensyn's decentralized solution aims to address issues such as computational power waste, data privacy, and centralization risks in traditional AI training. By implementing incentive mechanisms, it attracts more computing resources to participate, thereby improving training efficiency. The open collaboration model also promotes AI development and helps avoid monopolistic situations. This project is expected to drive AI training towards a more efficient, fairer, and more transparent direction.

Industry analysts believe that Gensyn represents the future trend of decentralized AI training. Its innovative solutions provide new ideas for addressing industry pain points such as computing power supply and privacy protection. However, it is also important to note that the reliability and security of decentralized systems still need further verification.

2. Lens Chain mainnet launched, providing infrastructure support for SocialFi.

Lens Chain is a second-layer scaling network specifically designed for SocialFi( social finance) applications. The project aims to provide efficient and low-cost infrastructure support for We social applications.

The Lens Chain mainnet has officially launched recently, offering multiple innovative features:

• Lens Chain: Use GHO stablecoin as gas for scalable, fast, and low-cost transactions.
• Social Protocol ( Lens V3): Pre-built social primitives, such as accounts and groups, can be flexibly integrated into existing applications.
• Grove: User-controlled on-chain permission storage for content.
• Developer Dashboard: Manage applications, guide users, and integrate without coding expertise.

Lens Chain provides infrastructure-level support for SocialFi applications, which is expected to promote the development of the We social ecosystem. Its scalability and low-cost characteristics offer new solutions to the pain points of traditional social platforms.

Analysts point out that the emergence of Lens Chain reflects a new demand for social applications in the We era. Through blockchain technology, users can truly own their data and content, avoiding data monopolies of centralized platforms. However, at the same time, the SocialFi ecosystem is still in its infancy, and achieving large-scale application remains a significant challenge.

3. The Sui ecosystem continues to make strides, and Move-related projects are attracting industry attention.

Move is an asset programming language specifically designed for blockchain, developed by Facebook( now Meta). Blockchain projects based on Move have recently attracted widespread attention in the industry.

Among them, the Sui ecosystem continues to make efforts and has become a representative project of the Move series. Founded by a former Meta engineer, Sui uses the Move virtual machine, which has the advantages of high performance and strong composability. The Sui ecosystem is developing at an accelerated pace, with popular projects such as Cetus, a decentralized exchange, and Navi, an NFT marketplace, being launched one after another.

In addition, Move ecosystem projects such as Aptos and Movement have also made progress. Aptos has issued tokens and launched its mainnet, while Movement is currently the only Move project that has not yet issued tokens.

The continuous development of the Move ecosystem reflects the industry's demand for new underlying blockchain technologies. Compared to Ethereum's EVM, the Move language has advantages in parallel execution, resource management, and other aspects, which is expected to further enhance blockchain performance.

However, at the same time, the Move ecosystem also faces many challenges. Currently, there are relatively few investable Move project assets, and the ecological development is still in its early stages. How to achieve large-scale applications still requires time to test. Analysts indicate that the future development of the Move ecosystem is worth continued attention.

4. We social innovation continues, Connect to Earn has become a new trend.

WeSocial has always been regarded as a key area for achieving large-scale applications of blockchain. Recently, new innovative attempts in WeSocial have been continuously emerging in the industry, with Connect to Earn becoming an emerging trend.

The core concept of Connect to Earn is to earn cryptocurrency rewards through on-chain social behavior. Representative projects include FriendTech, Warpcast, and others. These projects innovate social behavior on-chain through methods such as map-based social interactions and interest communities, providing token incentives.

Industry analysts believe that the Connect to Earn model is expected to promote the development of the We social ecosystem. Compared to simple content creation, on-chain social interactions are easier to be recorded and rewarded on-chain. At the same time, token incentives also help attract user participation.

However, there are also analyses pointing out that Connect to Earn faces challenges regarding the sustainability of its economic model. The balance between incentivizing users and maintaining ecological balance still requires further exploration. In addition, We Social is also facing a series of challenges such as changes in user habits and privacy protection.

Overall, Connect to Earn has injected new vitality into We social, but its long-term development prospects still need to be tested by time. New innovative attempts continue to emerge in the industry, and We social remains a field full of imagination.

5. Economic Dynamics

1. The Federal Reserve keeps interest rates unchanged, reiterating a "patient" stance.

Economic Background: The U.S. economy maintained moderate growth in the first quarter of 2025, with an annualized quarterly GDP rate of 2.3%, slightly below the previous quarter's 2.6%. The inflation rate is around 2.5%, slightly higher than the Federal Reserve's target level of 2%. The job market remains strong, with the unemployment rate holding steady at a low of 3.6%. Overall, the economy is operating smoothly, but there are still some uncertainties.

Important events: The Federal Reserve decided to maintain the federal funds rate in the range of 2.25%-2.5% at the interest rate decision meeting on April 30. This decision aligns with market expectations and reflects the Federal Reserve's cautious assessment of the current economic situation. The meeting statement reiterated a "patient" approach in waiting for the inflation rate to fall back to the 2% target, suggesting that there will be no interest rate hikes in the short term.

Market Response: U.S. stocks rose slightly after the Federal Reserve meeting, with the S&P 500 index closing up 0.47%. The dollar index dipped slightly, hovering around the 97 mark. The market's reaction to the Federal Reserve's "patience" stance was muted, reflecting prior expectations. Investors will be watching for further comments from the Federal Reserve, looking for hints on the timeline for interest rate hikes or cuts.

Expert Opinion: Goldman Sachs chief economist Jan Hatzius stated that the Federal Reserve's decision to keep interest rates unchanged is a wise move. He believes that the current inflation rate, slightly above the target, is mainly due to one-off factors and is expected to gradually decline in the coming months. He anticipates that the Federal Reserve will raise interest rates again once before the end of 2025.

BlackRock Chief Investment Officer Rick Rieder has a different view. He believes that the Federal Reserve should start a rate-cutting cycle this year to prevent the economy from overheating and causing uncontrollable inflation. He anticipates that the Federal Reserve will cut rates twice before the end of 2025.

2. US-China trade negotiations have fallen into a deadlock again, and tariff threats have risen once more.

Economic Background: China and the United States are the two largest economies in the world, and their bilateral trade relationship is crucial to the global economy. After the trade war erupted between China and the U.S. in 2018, both sides reached a "Phase One" agreement in 2019, alleviating tensions. However, subsequent negotiations have progressed slowly, and the differences between the two sides have not been fully reconciled.

Important Event: The Chinese and American sides were originally scheduled to hold a new round of high-level consultations at the end of April regarding the expansion of bilateral trade and investment. However, on April 28, the U.S. government suddenly announced that it would impose tariffs on $200 billion worth of Chinese goods imported into the U.S. starting May 10, citing that the Chinese side had not effectively fulfilled its commitments. The Chinese side subsequently stated that it would take "necessary countermeasures." The negotiations between both sides have fallen into a deadlock again.

Market Reaction: The shadow of the China-U.S. trade war has re-emerged, causing the global financial markets to decline. The three major U.S. stock indices plummeted on the day, with the Dow Jones falling nearly 500 points. The onshore RMB to USD exchange rate once dipped below the 6.80 mark. U.S. Treasury yields fell as investors flocked to safe-haven assets. Crude oil futures also dropped significantly, with Brent crude falling below $70 per barrel at one point.

Expert Opinion: Ba Shusong, the Executive Dean of the Renmin University of China’s Chongyang Institute for Financial Studies, stated that the escalation of trade frictions between China and the United States will have serious negative impacts on the economies of both countries and even the global economy. He believes that both sides should resolve their differences through dialogue to avoid further escalation of the trade war.

Mark Grossman, a senior researcher at the Peterson Institute for International Economics in the United States, believes that the U.S. government's tariff threat strategy may backfire. He said: "This approach will not force China to make concessions; instead, it may exacerbate the confrontation between the two sides and ultimately harm U.S. interests."

3. The European Central Bank remains on hold, and concerns about the slowing Eurozone economy are intensifying.

Economic Background: The eurozone economy grew by 1.8% in 2018, but has shown signs of slowing since 2019. In the first quarter of 2025, GDP only grew by 1.1% year-on-year, marking a near six-year low. The inflation rate has remained below the European Central Bank's target of 2%, at 1.4% in March. The labor market is relatively stable, with the unemployment rate hovering around 7.8%.

Important Events: The European Central Bank decided to keep its benchmark interest rate unchanged at 0% during its regular interest rate meeting on April 25. The meeting statement indicated that it will "exercise a high degree of patience" in waiting for the inflation rate to return to the 2% target, suggesting that there will be no adjustments to the rate in the short term. ECB President Draghi reiterated at the press conference that action will be taken if necessary to address the economic slowdown.

Market Reaction: European stocks fell slightly after the European Central Bank meeting, and the euro to dollar exchange rate also dipped slightly. Investors reacted mildly to the European Central Bank's decision to maintain interest rates, reflecting prior expectations. However, the ECB's indication that it will not take action in the short term has heightened market concerns about the economic outlook for the eurozone.

Expert Opinion: Mark Wall, Chief Eurozone Economist at Deutsche Bank, stated that the European Central Bank's decision to maintain interest rates is the correct one. He believes that the slowdown in the Eurozone economy is mainly due to external uncertainties, such as Brexit and the US-China trade war, while internal demand remains strong. He expects the Eurozone economy to stabilize and rebound in the second half of the year.

Goldman Sachs European economist Kevin Dane holds a different view. He stated that the European Central Bank should take action at this meeting, such as restarting the asset purchase program, to boost the economy. He believes that the slowdown in the Eurozone economy is no longer just due to short-term factors, and the long-term growth momentum is weakening.

4. Japan announces the new era name "Reiwa", with economic recovery still being a focus.

Economic Background: The Japanese economy grew by 0.7% in 2018, ending an 8-year deflationary period. However, since 2019, influenced by global economic slowdown and trade frictions, the economy has once again fallen into a slump. In the first quarter of 2025, the annualized quarterly GDP growth rate was only 0.2%, far below expectations. The inflation rate is also significantly below the Bank of Japan's target of 2%.

Important events: On April 1st, the Japanese government officially announced the new era name "Reiwa", which follows the 1989 era name "Heisei". The meaning of the new era name is "a beautiful era of peace that people long for". Japanese Prime Minister Shinzo Abe stated that the new era name signifies that Japan will enter a hopeful new era.

Market Reaction: The Japanese stock market experienced a slight increase after the announcement of the new era name. However, investors reacted relatively calmly to the new era name, paying more attention to the Japanese government's economic policy trends. The Governor of the Bank of Japan, Haruhiko Kuroda, previously stated that further easing measures would be taken if necessary to achieve the 2% inflation target.

Expert Opinion: The director of the Research Institute of the Ministry of Economy, Trade and Industry of Japan, Keiichiro Kobayashi, stated that the new era name itself has little impact on the Japanese economy; the key lies in whether the government can implement strong policies to promote economic recovery. He suggested that the Japanese government should further expand fiscal spending to stimulate domestic demand; at the same time, promote structural reforms to improve productivity and potential growth rate.

Nomura Securities' chief economist Takahiro Ito believes that the Bank of Japan should further relax its monetary policy, such as expanding its asset purchase program and lowering its long-term interest rate target. He said: "Only under the condition of a dual approach of fiscal and monetary policy can the Japanese economy hope to regain growth momentum."

6. Regulation & Policy

1. The U.S. Securities and Exchange Commission issued guidelines for the regulation of stablecoins.

The U.S. Securities and Exchange Commission ( SEC ) Corporate Finance Division recently released guidance on the regulation of stablecoins. As the primary regulatory body in the cryptocurrency sector, the SEC's stance on the regulation of stablecoins has garnered significant attention, and this guidance aims to bring greater regulatory certainty to the market.

This guidance defines stablecoins that meet specific criteria as "Covered Stablecoins," referring to those intended to maintain a stable value relative to the US dollar on a one-to-one basis, which can be redeemed for US dollars at a one-to-one rate, and are backed by low-risk, high-liquidity assets held in reserves. The SEC states that the issuance and trading of such stablecoins are not subject to securities law jurisdiction, and individuals participating in the minting and redemption process are not required to register with the SEC.

This guideline brings regulatory certainty to the stablecoin market. Stablecoins play a key role in the cryptocurrency ecosystem, especially in the decentralized finance ( DeFi ) space. Regulatory clarity helps the development of stablecoin projects and boosts market confidence. However, this guideline only covers specific types of stablecoins, while other types such as algorithmic stablecoins are not yet addressed.

The market has reacted positively to this guidance. Circle's President Heath Tarbert ( stated that this is an important advancement in the SEC's regulation of digital assets, which will increase the adoption rate of stablecoins. Cryptocurrency analysts believe that this guidance will bring more opportunities to the stablecoin market, but it is also necessary to pay attention to the ongoing changes in regulatory policies.

Perianne Boring, the executive director of the U.S. Cryptocurrency Industry Association, believes that the SEC's guidance provides greater certainty for stablecoin projects, but there are still some issues that need further clarification. She urges the SEC to continue communicating with the industry to establish a comprehensive regulatory framework for cryptocurrencies.

) 2. The Central African Republic Establishment Committee Strengthens Cryptocurrency Regulation

The President of the Central African Republic, Faustin-Archange Touadéra, recently announced the establishment of a committee composed of 15 experts aimed at drafting a comprehensive cryptocurrency regulation bill. This is an important step for the country in continuing to advance cryptocurrency-related policies.

The Central African Republic launched its national cryptocurrency, Sango Coin, for the first time in July 2022, planning to raise nearly $1 billion through the issuance of tokens. However, the plan was temporarily hindered due to the constitutional court questioning the legality of the project. A newly established committee will be responsible for drafting a cryptocurrency regulatory framework covering multiple sectors to support the country's economic and technological development.

The establishment of the committee aims to provide legal support for the cryptocurrency policy of the Central African Republic. The Central African Republic is the second country in the world to adopt Bitcoin as legal tender, and the status of cryptocurrency in the country is unique. However, due to the lack of a comprehensive regulatory framework, the country's cryptocurrency policy has been controversial.

Market participants have welcomed this initiative. Some cryptocurrency companies believe that clear regulations will provide them with greater certainty in conducting business in the Central African Republic. However, there are also concerns that excessive regulation may hinder the development of the country's cryptocurrency industry.

Blockchain legal expert Michelle Rubin believes that the cryptocurrency regulation in the Central African Republic should follow the "sandbox" principle, which means initially establishing a loose regulatory framework and gradually improving it as the industry develops. She suggests that the country should draw on the successful experiences of other nations to formulate regulatory policies that are conducive to innovation.

3. The European Commission proposed a comprehensive regulatory framework for crypto assets.

In response to the rapid development of the cryptocurrency market, the European Commission recently proposed a comprehensive regulatory framework draft for crypto assets. The draft aims to unify the regulation of crypto assets among EU member states, ensuring consumer protection and financial stability.

According to the draft, all cryptocurrency assets issued and traded within the EU will fall under regulatory supervision, including cryptocurrencies, stablecoins, and other tokens. Issuers will need to obtain permission from regulatory bodies and comply with relevant regulations, such as anti-money laundering and consumer protection. In addition, the draft also stipulates regulatory requirements for intermediary institutions such as cryptocurrency exchanges and wallet providers.

The proposal of this regulatory framework stems from the European Union's growing concern over the cryptocurrency market. In recent years, the adoption rate of cryptocurrencies in Europe has been steadily increasing, but the lack of unified regulatory standards poses potential risks to consumer rights and financial stability.

The draft has received widespread support. François Villeroy de Galhau, the Chairman of the European Financial Stability Board, stated that this framework will help facilitate the orderly development of the cryptocurrency market and provide necessary protections for consumers. However, some industry insiders are concerned that excessive regulation may hinder innovation.

Ben Dickson, head of digital currency at the Bank for International Settlements, believes that the EU's regulatory framework is a step in the right direction, but still needs further improvement. He suggests strengthening regulation on stablecoins and enhancing cooperation with other global regulatory bodies.

Overall, the European Commission's proposal aims to create an orderly and transparent environment for the cryptocurrency market to promote its healthy development. However, during the specific implementation process, how to balance regulation and innovation remains a matter of concern.