The Federal Reserve may cut interest rates by 25 basis points to a range of 3.25%-3.5% before the end of June

Bank Negara Malaysia Launches 3 Major Initiatives: Testing "Ringgit Stablecoin" and "Tokenized Deposits" Use Cases

Bank Negara Malaysia (BNM) has launched three major initiatives to test the applications of the "Ringgit stablecoin" and "tokenized deposits." Participating institutions include Standard Chartered Bank, Maybank, and UOB Group. The aim is to study their impact on financial stability, with plans to provide clear guidelines by the end of 2026.

Hong Kong Securities and Futures Commission's latest guidelines: opening virtual asset collateralized financing, first-ever perpetual contract framework, allowing affiliated companies to provide market-making

The Hong Kong Securities and Futures Commission (SFC) has issued new guidelines allowing licensed virtual asset brokers to provide margin financing services and establish a regulatory framework for perpetual contracts, limited to professional investors. The aim is to enhance market liquidity and risk management while opening up related companies to act as market makers. The SFC emphasizes a step-by-step approach to developing the digital asset market.

White House Stablecoin Negotiations Break Down? Profit Dispute Stalls U.S. Cryptocurrency Legislation, Digital Dollar's Future in Jeopardy

On February 11, news reports indicated that the White House's second round of consultations on stablecoin regulation failed to reach an agreement between banks and crypto companies. The core disagreement centered on whether "stablecoins can offer yields or rewards to users." Several crypto organizations engaged in discussions with major U.S. banks, but deadlock over key provisions has once again hindered the development of the U.S. stablecoin regulatory framework. The meeting was directly related to the proposed CLARITY Act. This legislation is based on the digital asset regulatory framework proposed by the GENIUS Act and has been passed by the House of Representatives, but the Senate has yet to advance it. The yield provisions are seen as the biggest obstacle. Banks are concerned that if stablecoins offer interest or rewards, it will divert traditional deposits, weaken banks' ability to lend to households and small to medium-sized enterprises, and thus impact financial system stability.

Pre-NFP Shock in the US: Bitcoin Drops to $66,000, Market Bets on Employment Data Influencing BTC Movement

February 11 News, due to the market's high attention to the upcoming release of the U.S. January non-farm payrolls and unemployment rate, Bitcoin prices have sharply retreated to around $66,000 in the past 24 hours. The dollar and U.S. Treasury yields are moving in sync, with Wall Street generally believing that employment may rebound, which would weaken the Federal Reserve's possibility of cutting interest rates in June, thereby putting pressure on risk assets including Bitcoin. The U.S. Bureau of Labor Statistics (BLS) will release the January employment report today. Economists expect non-farm payrolls to increase by about 70,000, higher than December's 50,000, indicating that the labor market, while slowing, remains resilient. The forecast range varies from a decrease of 10,000 jobs to an increase of 135,000, with the unemployment rate possibly remaining at 4.4%. Average hourly earnings are expected to grow by 0.3% month-over-month, with the annual growth rate slowing to 3.6%.

US Jobs and CPI Storms Are Coming: Where Will Bitcoin Price Go Under the Shadow of the Government Shutdown?

On February 11, Bitcoin prices slightly retreated but remained around $66,000, with the market holding its breath as it awaits guidance from several key macroeconomic data points, including the latest U.S. employment report, Consumer Price Index (CPI), and the potential risk of a government shutdown. Ethereum also came under pressure, with prices still below $2,000, reflecting a generally weak risk appetite in the crypto market. The current total market capitalization of digital assets is approximately $2.29 trillion, down about 2.5% over the past 24 hours. In the United States, the delayed January employment report will disclose non-farm payrolls, unemployment rate, and wage inflation, which are considered important indicators for assessing the economic start in 2026. Previously, in December, about 50,000 new jobs were added, and the unemployment rate dropped to 4.4%. Economists expect January's new job additions to rebound to 55,000, with the unemployment rate likely remaining unchanged. Tariff policies, immigration restrictions, and the accelerated replacement of traditional jobs by artificial intelligence are seen as the main variables disrupting the labor market.