Wu Shuo Daily Selected Crypto News - The U.S. Announces May Core PCE Price Index Annual Rate Recorded at 2.7%

1. US Core PCE Price Index Annual Rate for May Announced at 2.7%

The US announced a core PCE price index annual rate of 2.7% for May, higher than the expected 2.6%, and a new high since February 2025. The US core PCE price index monthly rate for May was 0.2%, with an expectation of 0.1%.

2. Hong Kong Launches Draft Bill on Digital Asset Trading and Custody Licensing, Opens Public Consultation

The Hong Kong Financial Services and the Treasury Bureau and the Securities and Futures Commission (SFC) jointly released a draft bill on the licensing regime for digital asset trading and custody services, launching a two-month public consultation that will end on August 29, 2025. The regime plans to require all operators engaged in related businesses in Hong Kong to obtain licenses, without a transition period. The SFC will be responsible for licensing and setting regulatory standards, while the Hong Kong Monetary Authority (HKMA) will supervise the implementation by banks and other institutions. The new regulations aim to build a complete digital asset regulatory system covering trading, custody, asset management, and other aspects.

3. Grayscale Updates Q3 Top 20, Adds $AVAX and $MORPHO, Removes $LDO and $OP

Grayscale Research updated its Top 20 asset list for the third quarter of 2025, adding Avalanche ($AVAX) and $Morpho ($MORPHO) this quarter, due to increased on-chain transaction activity and strong growth in decentralized lending, respectively. Lido DAO ($LDO) and Optimism ($OP) were removed due to competitive pressure from centralized staking services and uncertainty in token revenue distribution.

4. US Senator Tim Scott: Crypto Market Structure Bill Expected to Be Completed by the End of September

US Senate Banking Committee Chairman Tim Scott said on June 26 that legislation aimed at regulating the crypto market structure will be completed by September 30, later than President Donald Trump's desired completion date before the August congressional recess, but earlier than Senator Cynthia Lummis's previously expected year-end progress. Scott also called on the House of Representatives to pass the GENIUS Act, a stablecoin bill already passed by the Senate, as soon as possible.

5. Bhutan's Bitcoin Reserves Reach $1.3 Billion, Nearly 40% of GDP

Bhutan launched a Bitcoin mining program in 2020 and has since accumulated Bitcoin reserves worth approximately $1.3 billion, accounting for nearly 40% of the country's GDP, making it the third-largest government holder of Bitcoin in the world. Bhutan relies on abundant hydropower resources for mining and has built at least six mines, and is cooperating with mining company Bitdeer. The country plans to hold Bitcoin for the long term and gradually promote the application of Cryptocurrency in tourism payments and future urban construction.