Fed interest rate cut cycle begins: Will the digital money market welcome a "liquidity feast" or a "regulatory storm"?

The moment Powell took off his hawkish mask on Capitol Hill, the phones of global crypto asset holders vibrated simultaneously. This summer, the game between Wall Street and Silicon Valley officially entered deep waters!
1. The Double-Edged Sword of Interest Rate Cuts: Historical Data Reveals Patterns in the Cryptocurrency Market
Liquidity effect: During the 2019 interest rate cut cycle, the average daily trading volume of BTC surged by 237%.
Risk Preference Paradox: After the emergency interest rate cut in March 2020, the market value of stablecoins increased by $40 billion against the trend.
The newly emerged "regulatory temperature difference": 78% of USDT transactions occur in non-US time zones.
II. Stablecoin Regulation "Chinese Mirror": From Barbaric Growth to Penetrative Management
• Hong Kong Monetary Authority "Guidelines for Stablecoin Issuers"
Three key points:
Must operate with a license.
Disclosure of reserve assets daily
Prohibit algorithmic stablecoins
• A noteworthy comparison: The US legislation classifies stablecoin issuers into "bank-related" and "tech company types," which aligns with our country's regulatory concept of "finance belongs to finance, technology belongs to technology."
3. Three major market anomalies that retail investors must be alert to
Arbitrage Trap: Some exchanges have seen USDT off-exchange premiums, beware of the "fake stablecoin" sell-off.
End of regulatory arbitrage: Stablecoin projects registered in the Cayman Islands begin to migrate intensively to Singapore.
Technical Crash: Under-collateralized algorithmic stablecoins may replicate the Terra-style collapse.
"This is not a simple regulatory upgrade, but a rare battle for monetary sovereignty in modern financial history." Former researcher at the Central Bank Digital Currency Research Institute, Wang Yan pointed out, "When 90% of dollar stablecoin transactions occur overseas, what the Fed sees is not technological innovation, but an offshore dollar market that is out of control."
July 18 will be a key milestone: The U.S. House Financial Services Committee will hold the final vote on the "Stablecoin Payment Bill."
This regulatory revolution, affecting a market value of 300 billion dollars, will ultimately prove a simple truth: in the financial world, there is never a "get out of jail free" card for "technology is innocent"; there is only the eternal game of dancing with risk.