Monetary Policy

Source: Anthony Pompliano Podcast Compilation: Felix, PANews Bo Hines, CEO of Tether USAT (a US-regulated, dollar-backed stablecoin launched by Tether), is also a former White House cryptocurrency advisor who participated in shaping U.S. digital asset policies during critical industry development periods. Recently, Bo Hines gave an interview at the New York Bitcoin Investor Week, where he disclosed details of his work on cryptocurrency policy at the White House and discussed topics such as the mainstream adoption of stablecoins and why user experience is more important than returns. PANews has summarized the highlights of the conversation. Below are the details. Host: You previously worked at the White House and are now the

The U.S. military strike on Iran triggered intense fluctuations in the financial markets, with the New York stock market falling sharply, Bitcoin plummeting, and investors flocking to safe-haven assets like gold. Experts point out that geopolitical tensions and economic indicators will continue to influence market trends.

The U.S. Securities and Exchange Commission (SEC) issued guidance on payment stablecoins on February 19, allowing broker-dealers to treat stablecoins with a 2% discount when calculating net capital, thereby giving them a legitimate status in capital calculations. This adjustment helps to integrate stablecoins into the mainstream financial system and promotes digital asset trading and services. Peirce's statement and the GENIUS Act could potentially change the market landscape, although federal and state frictions still exist. Nonetheless, this move paves the way for regulatory integration of stablecoins.

One of the most important macro trends right now is the steady expansion of global liquidity. Recent data shows that worldwide M2 money supply has surpassed $100 trillion, with central banks continuing to inject capital into their economies. Year-over-year growth remains strong, signaling ongoing mo

David Sacks calls for cooperation between the crypto industry and banks, highlighting existing tensions over stablecoin yield programs. He urges banks to compromise as crypto firms have already made adjustments. Ongoing negotiations may lead to a unified financial system.

Citrini's AI outlook report has attracted market attention, warning that mature AI technology could replace a large number of white-collar jobs, impacting consumption and the economy. Bitcoin and stablecoins have become focal points, with analysts believing that Bitcoin prices are supported when liquidity increases. Stablecoins may play an important role in AI trading, and the market may reevaluate the value of Bitcoin and stablecoins in the future.

U.S. Securities and Exchange Commission Chairman Paul Atkins criticized former Chairman Gary Gensler for not adapting to crypto innovation, leading to the United States falling behind in global regulation. He proposed three major policy shifts, including withdrawing lawsuits against crypto institutions, establishing a dedicated crypto task force, and promoting a blockchain upgrade plan. Atkins announced that he will continue to push for the approval of tokenized financial products in the future.

The Chair of the U.S. Securities and Exchange Commission (SEC), Atkinson, criticized the enforcement approach during former Chair Gensler's tenure, believing it hindered regulatory innovation in cryptocurrency and caused the U.S. to lose its competitive edge. Atkinson emphasized that a cryptocurrency working group will be established in the future to advance the regulatory framework for tokenized assets, and the first tokenized treasury bond money market fund has been approved. Additionally, he plans to expand into tokenized bank deposits in an effort to restore America's leadership in global crypto finance.

The UK Gambling Commission is exploring the possibility of allowing cryptocurrency payments to enhance consumer protection and reduce the risk of players turning to illegal platforms. Tim Miller pointed out that compliant platforms accepting cryptocurrencies can keep players within a regulated environment. This policy requires authorization from the UK Financial Conduct Authority (FCA), which plans to implement a new regulatory framework in October 2027, with all related services required to adhere to the new regulations.

The U.S. CLARITY Act gained bipartisan support in the House of Representatives but stalled in the Senate, failing to meet the review and voting schedule. The main debate centers on the definition of stablecoin yield payments, with the banking industry supporting strict restrictions, while crypto companies strongly oppose. Four core issues remain unresolved, and the bill may be delayed due to the impact of the 2026 elections.

The U.S. Securities and Exchange Commission (SEC) announced on February 19 that broker-dealers can apply a 2% discount when calculating net capital for payment stablecoins. This move helps integrate stablecoins into the mainstream financial system. The change stems from the GENIUS Act, which sets clearer regulations for stablecoin issuance. This policy not only reduces costs for broker-dealers but also promotes the acceptance of digital assets, paving the way for the future development of financial services.

Austan Goolsbee predicts rate cuts for 2026, emphasizing caution to avoid economic issues. Concurrently, the crypto market shows a slight recovery, while Gold and Silver maintain strong performance amidst ongoing uncertainties.

Ripple CEO Brad Garlinghouse expressed optimism for the future of crypto during his speech at the XRP Australia 2026 hackathon, highlighting the collective efforts of advocates worldwide. JP Morgan forecasts a potential boost in the crypto market by late 2026, driven by regulatory clarity from the Clarity Act.

Ukraine is accelerating the development of its central bank digital currency, the "Electronic Hryvnia," with the goal of enhancing financial infrastructure and increasing the adoption of digital payments. Due to the wartime environment and infrastructure investments, official issuance still faces challenges. Investors should pay attention to relevant legislative developments to adjust asset allocations accordingly and assess the impact of payment system reforms on the crypto market.

At the XRP Australia 2026 event held in Sydney, industry executives pointed out that the Australian cryptocurrency market has seen significant user growth, but still faces banking restrictions and legal uncertainties. Although regulatory communication has improved and institutional investors have gained clearer compliance pathways, market penetration has increased, but crypto businesses remain limited in accessing banking services. Currently, the Australian crypto industry is in a cautious development stage, balancing user expansion and compliance.

Market expectations that Federal Reserve Chair nominee Wosh will cut interest rates immediately upon taking office have cooled, and the IMF expects the US economy to accelerate and inflation to gradually decline. Mortgage rates have fallen to 5.98%, easing homebuying burdens. The crypto market BTC price fluctuates, with a clear short-term liquidity structure.

The U.S. Senate Banking Committee held a hearing on stablecoin yields to discuss the impact of the GENIUS Act. The bill prohibits stablecoin issuers from paying interest but does not restrict platform rewards, raising concerns about potential bank deposit outflows. Banking industry representatives pointed out the potential risk of deposit outflows, while supporters argued that there is no substantial evidence. Regulatory agencies emphasized that there have been no signs of large-scale deposit outflows at present and plan to enhance regulation of digital assets.

The UK will shut down investment channels for cryptocurrencies within Individual Savings Accounts (ISAs) in April 2026, as Her Majesty's Revenue and Customs (HMRC) reclassifies crypto exchange-traded notes (ETNs) as ineligible securities. This change affects investors' tax advantages, making capital gains taxation necessary, and may drive some investors to offshore platforms. The ban has sparked debates over investor protection and market competitiveness.

On February 26, XRP came under pressure due to strong US employment data, with the price dropping from $1.4454 to $1.3862 and closing at $1.4027, a daily decline of 2.16%. Despite the market sentiment being pressured, XRP spot ETFs continued to attract funds, with an average net inflow of $70.26 million at the beginning of the year. If XRP's utility and ETF capital inflows persist, there is potential for the price to decouple. Short-term support is at $1, with a medium-term target of $2.