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👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.🧔‍♂️ A friendly human may check it before it goes live. More news hereThe US Securities and Exchange Commission (SEC) announced new senior appointments on June 13, 2025, signaling potential shifts in crypto regulation under Chairman Paul Atkins.Jamie Selway will become director of the Division of Trading and Markets starting June 17. He previously worked at Sophron Advisors and served as global head of institutional markets at Blockchain.Brian T. Daly will take over as director of the Division of Investment Management on July 8. Daly comes from Akin Gump Strauss Hauer & Feld LLP, where he focused on cryptocurrency and blockchain matters.The SEC also appointed Erik Hotmire as chief external affairs officer and Kurt Hohl as chief accountant.Chairman Atkins, who took over in April, has indicated plans for a more collaborative regulatory approach toward digital assets.🔗 Source: The Block🧠 Food for thought1️⃣ The pendulum swing in crypto regulation reflects broader policy cyclesThe SEC’s new appointments represent a significant regulatory shift that has historical precedent in financial regulation.This shift from Gary Gensler’s enforcement-heavy approach to Paul Atkins’ more supportive stance follows a pattern seen in previous transitions between administrations with different regulatory philosophies1.Atkins has explicitly criticized previous approaches as either “ignoring crypto assets or relying on ad hoc enforcement,” emphasizing instead the need for “clear rules” through formal rulemaking rather than enforcement actions1.The establishment of the SEC’s Crypto Task Force signals an institutional approach to regulation rather than the case-by-case enforcement that characterized previous years, potentially creating more predictable market conditions2.This shift resembles historical regulatory cycles seen in other financial innovations, where initial strict oversight often gives way to more calibrated approaches as technologies mature and regulators gain expertise.2️⃣ Industry expertise increasingly shapes regulatory approachThe appointment of officials with crypto experience represents a growing trend of incorporating industry knowledge into regulatory frameworks, with both Selway and Daly bringing practical understanding of digital asset markets.Selway’s background includes advising fintech companies and serving as global head of institutional markets at Blockchain, while Daly has expertise in digital assets, cryptocurrency, and blockchain alongside traditional financial services1.This integration of industry expertise into regulatory leadership mirrors developments in other countries where specialized knowledge has become essential for effective oversight of complex digital asset markets3.The SEC’s evolving approach parallels broader government initiatives, including the formation of a President’s Working Group on Digital Assets, which aims to identify and modify regulations affecting the sector to enhance clarity4.This expertise-driven regulatory evolution is particularly evident in the SEC’s plans to develop guidelines specifically tailored for crypto asset issuance, custody, and trading that acknowledge the technology’s unique characteristics while maintaining investor protections5.3️⃣ U.S. regulatory shifts occur amid global competition for crypto innovationThe SEC’s leadership changes and regulatory pivot come as countries worldwide are establishing their own approaches to crypto regulation, creating a competitive global landscape for industry development.While the U.S

👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.🧔‍♂️ A friendly human may check it before it goes live. More news hereBitcoin and other cryptocurrencies fell on June 13, following Israel’s missile strikes on Iran, raising geopolitical tensions.The broader market also shifted, with equity futures dropping as investors moved to safe havens like gold and oil.Bitcoin briefly dropped to US$103,802 before recovering to around US$105,000.The downturn triggered US$1.1 billion in liquidated crypto positions, with bitcoin making up US$441 million.The largest single liquidation was a US$201.3 million BTC/USDT trade on Binance, according to CoinGlass.Analysts warned of further volatility amid the Middle East conflict. QCP Capital noted that a prolonged crisis could impact global oil supplies, pressuring crypto markets.🔗 Source: The Block🧠 Food for thought1️⃣ Bitcoin’s inverse dollar relationship offers long-term context beyond geopolitical noiseBitcoin’s consistent inverse relationship with the US Dollar Index (DXY) represents a more fundamental driver than short-term geopolitical events, supporting analyst Nic Puckrin’s assertion about the dollar’s importance.Historical data shows Bitcoin typically moves in the opposite direction of the DXY, functioning as a potential hedge against dollar strength 1.This pattern is demonstrated by Bitcoin’s performance against the DXY, which recently hit a three-year low below 100, coinciding with Bitcoin’s climb to record highs before the Middle East tensions 2.Research covering 2013-2021 confirms this relationship, showing Bitcoin is positively linked to risk assets (stocks, bonds, commodities) but negatively correlated with the US dollar over the long term 3.However, this established correlation is showing signs of potential change, with recent market data indicating Bitcoin rising despite dollar strength, particularly as the US election approaches. This suggests evolving market dynamics 4.2️⃣ Bitcoin’s volatility follows predictable cycle patterns despite unpredictable triggersBitcoin price movement research reveals distinct cyclical phases—Reversal, Bottoming, Appreciation, and Acceleration—providing context for understanding current market behavior beyond single geopolitical events 5.The cryptocurrency’s extreme price swings are well-documented, with factors like supply-demand dynamics and regulatory impacts consistently driving volatility throughout Bitcoin’s history 6.Bitcoin’s volatility is demonstrably higher than major fiat currencies, with academic research indicating this characteristic significantly limits its effectiveness as a medium of exchange while potentially preserving its long-term store of value proposition 7.Q1 2025 performance offers recent evidence of this volatility pattern, with Bitcoin reaching nearly $109,000 before correcting due to macroeconomic uncertainties, despite strong institutional participation from companies like MicroStrategy 8.The current market reaction to Middle East tensions—with Bitcoin briefly dropping below $104,000 before recovering—represents a typical volatility event within these established cyclical patterns rather than a fundamental shift in market structure.3️⃣ Bitcoin’s risk-asset behavior during crises challenges its safe-haven narrativeThe recent market reaction to Israel-Iran tensions demonstrates Bitcoin’s continued correlation with risk assets rather than traditional safe havens, as it declined alongside equity futures while gold and oil climbed.Comprehensive research examining Bitcoin’s relationship with 14 major financial assets (2013-2021) found that during extreme market shocks, Bitcoin’s positive correlation with risk assets actually strengthens rather than weakens 3.This behavior contradicts the popular narrative of Bitcoin as “digital gold,” with data showing that despite its potential to hedge against the US dollar long-term, its high volatility during crises impedes its effectiveness as a portfolio risk diversifier 7.The $1.1 billion in liquidations triggered by the geopolitical event, with long positions accounting for approximately $1 billion, reveals how leveraged positions amplify Bitcoin’s volatility during uncertainty—a pattern consistent with risk assets rather than safe havens.While Bitcoin has demonstrated store of value characteristics over longer time horizons, its immediate response to geopolitical tensions continues to align more closely with high-risk investments than with traditional safe-haven assets 37

👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.🧔‍♂️ A friendly human may check it before it goes live. More news hereUS Treasury Secretary Scott Bessent said during a Senate hearing on June 11, 2025, that the US dollar-backed stablecoin market could surpass US$2 trillion within three years.Bessent made these remarks while addressing the Senate Appropriations Committee, which discussed projections linking the GENIUS Act to potential growth in the stablecoin market.This legislation would require stablecoins to be fully backed by US dollars or other liquid assets and mandate annual audits for issuers with market capitalizations over US$50 billion.It would also include provisions for foreign issuers.🔗 Source: The Block🧠 Food for thought1️⃣ Stablecoins represent one of the fastest-growing financial innovations in recent historyThe rapid growth of stablecoins is unprecedented in the financial sector, with market capitalization exploding from just $20 billion in 2020 to approximately $246 billion by May 2025 1.This represents more than a 12-fold increase in just five years, demonstrating extraordinary adoption rates compared to other financial innovations.The projected growth to nearly $2.8 trillion by 2028, according to industry analysts 2, would represent another significant increase, making stablecoins one of the fastest-scaling financial products in modern history.For context, the entire global remittance market—a key target for stablecoin disruption—currently processes approximately $800 billion annually, suggesting stablecoins could eventually facilitate transactions valued at several times this amount.2️⃣ Traditional banks are pivoting from resistance to strategic embracing of stablecoin technologyMajor U.S. banks are undergoing a significant strategic shift, moving from cryptocurrency skepticism to actively developing joint stablecoin initiatives 3.This represents a defensive posture as banks recognize the potential $2.5 trillion market opportunity by 2030 4 and seek to maintain their relevance in an evolving payment landscape increasingly influenced by fintech and crypto companies.The GENIUS Act’s regulatory framework is proving to be the catalyst that gives traditional financial institutions the confidence to enter this space, with many waiting for its passage before launching their stablecoin products 3.This pattern of initial resistance followed by strategic adoption parallels how banks previously responded to online banking in the 1990s and mobile payments in the 2010s—initially dismissing the technologies before ultimately embracing them as competitive necessities.The potential consortium-backed stablecoin being discussed among major banks 3 represents a collaborative approach that highlights how disruptive they perceive the stablecoin threat to be.3️⃣ The battle for global financial influence is increasingly being fought through digital currency policySecretary Bessent’s emphasis on stablecoins expanding “U.S. dollar usage… all around the world” reveals how stablecoins have become a geopolitical tool in maintaining dollar hegemony.The stablecoin market is overwhelmingly dominated by USD-pegged tokens, which account for 96% of the entire stablecoin ecosystem according to the original article, reinforcing America’s financial influence even as traditional dollar usage faces challenges.This strategic importance explains the bipartisan support for the GENIUS Act, which explicitly aims to “reaffirm the dominance of the U.S. dollar in the cryptocurrency space” 5.The legislation comes as central banks worldwide are exploring their own digital currencies, with 87% of global central banks researching these technologies 6, creating a race for digital currency influence.The administration’s focus on creating a regulated framework demonstrates recognition that without official support, dollar-denominated financial activity could migrate to other jurisdictions or currencies that provide clearer rules for digital assets