Core Viewpoint - The World Federation of Exchanges (WFE) has expressed concerns to the U.S. Securities and Exchange Commission (SEC) regarding the potential issuance of regulatory "exemptions" to cryptocurrency companies for the sale of "tokenized stocks," warning that this could undermine investor protection and market integrity [1] Group 1 - The WFE cautioned that granting exemptions to companies attempting to circumvent long-standing regulatory principles could weaken market protections [1] - The organization emphasized that the SEC should compete on the same rules with cryptocurrency platforms rather than providing them with special exemptions [1]

Core Insights - The legal battle surrounding Federal Reserve Governor Lisa Cook's potential dismissal by Trump has reached a critical stage in the Supreme Court, highlighting the tension between political influence and central bank independence [2][4] - SEC Chairman Paul Atkins has signaled new regulatory directions for the cryptocurrency industry, emphasizing the need for compliance and addressing conflicts of interest within platforms [6][7] Group 1: Federal Reserve and Legal Proceedings - The controversy over Cook's position is fundamentally about "political interference in the central bank," with Trump attempting to dismiss her based on alleged mortgage fraud, which Cook's team has refuted as a smear campaign [2] - A district court ruled on September 9 that Cook could remain in her position during the lawsuit, indicating that Trump's dismissal attempt "may violate the law," which was upheld by a federal appeals court [2] - The Federal Reserve's decision to lower the benchmark interest rate by 25 basis points was influenced by the resolution of this personnel issue, ensuring continuity in monetary policy [2][4] Group 2: SEC Regulatory Signals - Atkins has identified industry conflicts of interest and stated that the SEC will take action against platforms that act as both intermediaries and self-trading entities, aiming to eliminate regulatory gaps [6] - XBIT Wallet has enhanced its compliance mechanisms in response to these regulatory signals, including public audits of third-party smart contracts and implementing multi-signature verification for asset security [6][7] - The SEC's stance on not relaxing regulations based on personal connections, particularly regarding the Trump family's WLF crypto project, underscores the importance of rigorous risk assessment for wallet platforms [6] Group 3: XBIT Wallet's Strategic Positioning - XBIT Wallet is adapting to regulatory changes by tracking pilot projects related to "innovation exemptions" and "Project Crypto," optimizing its transaction processes and asset classification to align with potential new rules [7] - The platform has seen a 37% increase in cross-chain asset movement within 24 hours following the interest rate cut announcement, indicating a responsive user base to market dynamics [4] - XBIT Wallet's proactive approach to compliance and risk management, including a 62% decrease in user inquiries related to project compliance issues, positions it as a preferred choice in the DEX wallet market [6][7]

（来源：吴说） 来源：市场资讯 美国参议院以 48 票对 47 票 微弱优势确认"加密友好派" Stephen Miran 出任美联储理事会成员，其任期 至 2026 年 1 月 31 日。Miran 曾任投资公司 Hudson Bay 高级策略师，该公司曾交易 FTX 破产债权，他 亦曾呼吁简化加密监管。此次确认进程加速，确保其能在美联储周二的利率会议前到任。（The Block） ...

Group 1 - US stock market showed mixed results, with Nvidia rising over 4%, pushing the Nasdaq to a new high [1] - June core CPI in the US increased by 2.9% year-on-year and 0.2% month-on-month, remaining below expectations for five consecutive months [1] - US Treasury Secretary indicated that there is no need to worry about the deadline for the suspension of additional tariffs on China, stating that negotiations are in a "good position" [1] Group 2 - Trump announced an agreement with Indonesia, imposing a 19% tariff, which is lower than the previously threatened level [1] - The EU noted significant differences in positions between the US and Europe, with a 30% tariff causing confusion among US negotiators [1] - Nvidia's CEO Huang Renxun stated that the US government has approved export licenses to begin selling H20 chips to the Chinese market [1] Group 3 - US Treasury Secretary Becerra mentioned that the formal process for selecting Powell's successor has begun, with the selection proceeding at Trump's pace [1] - JPMorgan CEO issued a clear warning about the importance of the Federal Reserve's independence [1] - A significant setback occurred for the cryptocurrency regulation bill supported by Trump, as it failed to pass in the House [1] Group 4 - Apple is expected to launch its first iPhone Fold in the second half of next year, with a starting price of $1,800 [1]

Macro News - The EU plans to impose tariffs on $1 trillion worth of US goods if negotiations fail [2] - The UK and India have reached a free trade agreement, with India reducing tariffs on 90% of UK imports, 85% of which will achieve zero tariffs within ten years [2] - The UK and US are expected to finalize a trade agreement this week aimed at reducing tariffs on automobiles and steel [2] - US Treasury Secretary opposes the issuance of a digital currency by the Federal Reserve [2] Institutional Views - Galaxy Futures indicates that the thawing of US-China trade relations may lead to silver prices fluctuating at high levels [3] - The market's risk aversion is expected to decrease due to the confirmation of US-China diplomatic engagement, although challenges in negotiations remain [3] - The upcoming Federal Reserve meeting is highlighted as a key event to watch for potential clues on future interest rate cuts [3]