Blockchain Industry Weekly Report: Strengthened Regulation, Large Institutions Get on Board

This week, the cryptocurrency market remains stable overall, but regulatory trends and institutional movements are noteworthy. Governments of multiple countries have further clarified their regulatory stance on digital assets, with relevant departments in countries like the United States and France taking action. Meanwhile, some large institutions have also begun to get on board in the cryptocurrency field.

According to data platforms, the total market value of global digital currencies has slightly decreased by 2% this week to $221.3 billion. Bitcoin's market share remains at around 51%. Although the price fluctuations are not significant, there have been several sharp fluctuations in the early morning due to multiple settlements. Analysts believe that Bitcoin is currently at the end of a triangular consolidation and may see a directional breakout in early October.

In terms of regulation, the U.S. Securities and Exchange Commission has expanded its regulatory scope to digital asset brokers and investment companies. The French National Assembly has initiated a legal debate on crypto assets and ICOs. A U.S. federal judge ruled that digital currencies fall under the jurisdiction of the Commodity Futures Trading Commission. The Shanghai court has determined that Ether can be protected as general property under the law. These trends indicate that countries are accelerating the construction of regulatory frameworks for digital assets.

At the same time, some large institutions have also begun to layout their cryptocurrency businesses. A trading platform has submitted an IPO application in Hong Kong. A certain investment bank is reportedly studying the introduction of Ethereum futures products. The South Korean government has included 9 blockchain-related industries within the scope of venture capital support. Alibaba's research institute has also officially established a blockchain laboratory. These signs indicate that, despite the market downturn, institutions remain highly interested in blockchain technology.

However, there have been some changes within the industry. Xunlei has sold part of its Blockchain business, retaining only the underlying technology. Li Xiaolai announced that he will no longer invest in projects. An exchange in India has shut down due to regulatory reasons. This reflects that some participants are adjusting their strategies in the current market environment.

Overall, although the short-term market performance is lackluster, in the long run, as regulations become clearer and institutional participation increases, the blockchain industry is still expected to迎来新的发展机遇. The next few months will be a critical period to observe the market direction.