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On July 15, in order to promote the innovative development and standardized application of generative AI services, the Cyberspace Administration, in conjunction with relevant departments, has orderly carried out the registration of generative AI services in accordance with the requirements of the 'Interim Measures for the Management of Generative AI Services.' This announcement includes the registration information for seven newly added mobile-enabled generative AI services, such as 'Apple AI,' 'Huawei Xiaoyi,' 'vivo Lanhxin,' 'Xiaomi Pengpai,' and 'Nubia Doubao Large Model.' (Jinshi)

[Announcement of 7 Mobile-Enabled Generative AI Services Registered with the Cyberspace Administration]On July 15, in order to promote the innovative development and standardized application of generative AI services, the Cyberspace Administration, in conjunction with relevant departments, has orderly carried out the registration of generative AI services in accordance with the requirements of the 'Interim Measures for the Management of Generative AI Services.' This announcement includes the registration information for seven newly added mobile-enabled generative AI services, such as 'Apple AI,' 'Huawei Xiaoyi,' 'vivo Lanhxin,' 'Xiaomi Pengpai,' and 'Nubia Doubao Large Model.' (Jinshi)

Announcement of 7 Mobile-Enabled Generative AI Services Registered with the Cyberspace Administration

In pre-market trading, SK Hynix ADR (SKHY.O) has dropped 4.6%.

[SK Hynix ADR (SKHY.O) Falls 4.6%]In pre-market trading, SK Hynix ADR (SKHY.O) has dropped 4.6%.

SK Hynix ADR (SKHY.O) Falls 4.6%

On July 15, data from CryptoRank revealed that the total market cap of the DePIN (Decentralized Physical Infrastructure Networks) sector has dropped from a historical high of $20.2 billion in March 2024 to the current $3.46 billion, representing a cumulative decline of approximately 83%. Additionally, since 2026, the DePIN sector has experienced a cumulative decline of about 23%, making it one of the weakest-performing narratives in the cryptocurrency market.

[DePIN Sector Market Cap Falls 83% from Historical High, Year-to-Date Decline Reaches 23%]On July 15, data from CryptoRank revealed that the total market cap of the DePIN (Decentralized Physical Infrastructure Networks) sector has dropped from a historical high of $20.2 billion in March 2024 to the current $3.46 billion, representing a cumulative decline of approximately 83%. Additionally, since 2026, the DePIN sector has experienced a cumulative decline of about 23%, making it one of the weakest-performing narratives in the cryptocurrency market.

DePIN Sector Market Cap Falls 83% from Historical High, Year-to-Date Decline Reaches 23%

On July 15, the Japanese Senate passed the Financial Instruments and Exchange Act and the Payment Services Act, redefining crypto assets from a means of payment to financial products. Key revisions include: increasing the maximum prison term for unregistered financial activities from under 3 years to under 10 years, and raising fines from under 3 million yen to under 10 million yen; the introduction of regulations against insider trading in crypto assets, prohibiting trading based on undisclosed significant information; and requiring specific crypto asset issuers to disclose information regularly on an annual basis. In terms of taxation, the system will shift from a maximum comprehensive tax rate of 55% to a separate declaration tax system (approximately 20% rate), allowing losses to be carried forward for 3 years, with implementation expected from January 1, 2028. Additionally, the proposed amendments will establish a framework to support the creation of crypto asset ETFs.

[Japanese Senate Passes Bill Classifying Crypto Assets as Financial Products]On July 15, the Japanese Senate passed the Financial Instruments and Exchange Act and the Payment Services Act, redefining crypto assets from a means of payment to financial products. Key revisions include: increasing the maximum prison term for unregistered financial activities from under 3 years to under 10 years, and raising fines from under 3 million yen to under 10 million yen; the introduction of regulations against insider trading in crypto assets, prohibiting trading based on undisclosed significant information; and requiring specific crypto asset issuers to disclose information regularly on an annual basis. In terms of taxation, the system will shift from a maximum comprehensive tax rate of 55% to a separate declaration tax system (approximately 20% rate), allowing losses to be carried forward for 3 years, with implementation expected from January 1, 2028. Additionally, the proposed amendments will establish a framework to support the creation of crypto asset ETFs.

Japanese Senate Passes Bill Classifying Crypto Assets as Financial Products

On July 15, ECB Governing Council member Nagel stated that the European Central Bank is closely monitoring energy price trends following the escalation of conflicts in the Middle East, which has led to increased geopolitical uncertainty. He noted that the past few weeks have been 'filled with hope and disappointment.' The renewed outbreak of war between the U.S. and Iran highlights the ongoing volatility of the current situation. Nagel remarked, 'The trend of energy prices is a key factor in determining the future inflation outlook. Monetary policy will remain highly vigilant.' The ECB is set to hold a policy meeting from July 22 to 23 and will soon enter a pre-meeting blackout period. The market widely expects that the bank will keep interest rates unchanged at that time. However, investors still anticipate that policymakers will raise rates again later this year to curb inflationary pressures triggered by the Iran conflict. Nagel emphasized that, following the policy decision made in June, current borrowing costs are at an 'appropriate' level. He stated, 'From a monetary policy perspective, it remains wise to continue a cautious approach, but decisive action will be taken if necessary.' (Jinshi)

[ECB's Nagel: Closely Monitoring Energy Prices Amid Rising Inflation Uncertainty from Middle East Situation]On July 15, ECB Governing Council member Nagel stated that the European Central Bank is closely monitoring energy price trends following the escalation of conflicts in the Middle East, which has led to increased geopolitical uncertainty. He noted that the past few weeks have been 'filled with hope and disappointment.' The renewed outbreak of war between the U.S. and Iran highlights the ongoing volatility of the current situation. Nagel remarked, 'The trend of energy prices is a key factor in determining the future inflation outlook. Monetary policy will remain highly vigilant.' The ECB is set to hold a policy meeting from July 22 to 23 and will soon enter a pre-meeting blackout period. The market widely expects that the bank will keep interest rates unchanged at that time. However, investors still anticipate that policymakers will raise rates again later this year to curb inflationary pressures triggered by the Iran conflict. Nagel emphasized that, following the policy decision made in June, current borrowing costs are at an 'appropriate' level. He stated, 'From a monetary policy perspective, it remains wise to continue a cautious approach, but decisive action will be taken if necessary.' (Jinshi)

ECB's Nagel: Closely Monitoring Energy Prices Amid Rising Inflation Uncertainty from Middle East Situation

On July 15, Xie Guangqi, Director of the Monetary Policy Department of the People's Bank of China, stated at a press conference held by the State Council Information Office that in the coming period, monetary credit will shift from extensive expansion to intensive development, and the slowdown and quality improvement of loans may become one of the new norms in macroeconomic operations. (Xinhua Finance)

[Central Bank: Slower and Higher-Quality Loan Growth May Become a New Normal in Macroeconomic Operations]On July 15, Xie Guangqi, Director of the Monetary Policy Department of the People's Bank of China, stated at a press conference held by the State Council Information Office that in the coming period, monetary credit will shift from extensive expansion to intensive development, and the slowdown and quality improvement of loans may become one of the new norms in macroeconomic operations. (Xinhua Finance)

Central Bank: Slower and Higher-Quality Loan Growth May Become a New Normal in Macroeconomic Operations

On July 15, an Israeli official announced that Prime Minister Netanyahu will travel to the United States on Saturday.

[Israeli Official: Prime Minister Netanyahu to Visit the U.S. on Saturday]On July 15, an Israeli official announced that Prime Minister Netanyahu will travel to the United States on Saturday.

Israeli Official: Prime Minister Netanyahu to Visit the U.S. on Saturday

On July 15, crypto market analyst gaah cited CryptoQuant data indicating that the ratio of Bitcoin long-term holders (LTH) to short-term holders (STH) has risen to a 30-month high. This metric measures the distribution of Bitcoin supply between long-term and short-term holders. The analysis points out that extreme highs in this metric typically do not occur at market euphoria peaks but rather during accumulation phases. Historically, bull market tops often happen when this metric begins to decline from high levels, rather than when it reaches new highs. Currently, with BTC prices still approximately 50% lower than the previous historical peak, long-term holders continue to absorb circulating market supply.

[BTC Long and Short-Term Holding Ratio Hits 30-Month High as Long-Term Holders Continue Accumulating]On July 15, crypto market analyst gaah cited CryptoQuant data indicating that the ratio of Bitcoin long-term holders (LTH) to short-term holders (STH) has risen to a 30-month high. This metric measures the distribution of Bitcoin supply between long-term and short-term holders. The analysis points out that extreme highs in this metric typically do not occur at market euphoria peaks but rather during accumulation phases. Historically, bull market tops often happen when this metric begins to decline from high levels, rather than when it reaches new highs. Currently, with BTC prices still approximately 50% lower than the previous historical peak, long-term holders continue to absorb circulating market supply.

BTC Long and Short-Term Holding Ratio Hits 30-Month High as Long-Term Holders Continue Accumulating

According to South Korean media Dealsite, citing sources in the semiconductor industry, Samsung Electronics has not yet received mass production orders for HBM4 chips from Nvidia. Currently, the revenue Samsung Electronics has generated from this AI chip manufacturer is limited to paid testing samples. Previously, it was reported that competitor SK Hynix has officially started mass production shipments of 12-layer HBM4 for Nvidia, with the product entering the capacity ramp-up phase. Starting in September this year, SK Hynix will officially expand its HBM4 shipment scale to fully meet Nvidia's demand for high-end computing power chips.

[Samsung's HBM4 Yet to Receive Orders from Nvidia as SK Hynix Moves Ahead]According to South Korean media Dealsite, citing sources in the semiconductor industry, Samsung Electronics has not yet received mass production orders for HBM4 chips from Nvidia. Currently, the revenue Samsung Electronics has generated from this AI chip manufacturer is limited to paid testing samples. Previously, it was reported that competitor SK Hynix has officially started mass production shipments of 12-layer HBM4 for Nvidia, with the product entering the capacity ramp-up phase. Starting in September this year, SK Hynix will officially expand its HBM4 shipment scale to fully meet Nvidia's demand for high-end computing power chips.

Samsung's HBM4 Yet to Receive Orders from Nvidia as SK Hynix Moves Ahead

According to Cointelegraph, the metaverse sector is witnessing its very-own housing crisis moment, thanks to massive declines in the prices of its virtual lands in 2022, led by waning users' interest and a crypto bear market. In particular, metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed substantial declines in their valuations and other key metrics, data from WeMeta shows. The average price per parcel of virtual lands across the six major Ethereum metaverse projects dropped from approximately $17,000 in January to around $2,500 in August, or 85% decline. On a weekly average, the volume, which represents the amount of lands (derived in currency) traded, has dropped from its peak of $1 billion in November 2021 to approximately $157 million in August 2022.

Detail

【Virtual land prices crash 85% amid waning interest】According to Cointelegraph, the metaverse sector is witnessing its very-own housing crisis moment, thanks to massive declines in the prices of its virtual lands in 2022, led by waning users' interest and a crypto bear market. In particular, metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed substantial declines in their valuations and other key metrics, data from WeMeta shows. The average price per parcel of virtual lands across the six major Ethereum metaverse projects dropped from approximately $17,000 in January to around $2,500 in August, or 85% decline. On a weekly average, the volume, which represents the amount of lands (derived in currency) traded, has dropped from its peak of $1 billion in November 2021 to approximately $157 million in August 2022.

Virtual land prices crash 85% amid waning interest

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Virtual land prices crash 85% amid waning interest

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