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On May 8, according to AUSTRAC's official website, Australia's financial intelligence agency AUSTRAC announced the initiation of two special regulatory inspections in the country's virtual asset industry. One inspection targets 36 over-the-counter cryptocurrency exchange operators, focusing on assessing their management of money laundering risks associated with cryptocurrency-to-fiat exchanges. The other inspection involves 27 local cryptocurrency exchanges, evaluating their compliance preparedness for the new regulatory framework. This inspection aligns with Australia's anti-money laundering regulatory reforms that came into effect on March 31, which expanded the regulatory scope from traditional exchanges to include custodians, brokers, and other virtual asset service providers (VASPs).

[Australia's Anti-Money Laundering Regulator Launches Special Inspections on 63 Crypto Firms]On May 8, according to AUSTRAC's official website, Australia's financial intelligence agency AUSTRAC announced the initiation of two special regulatory inspections in the country's virtual asset industry. One inspection targets 36 over-the-counter cryptocurrency exchange operators, focusing on assessing their management of money laundering risks associated with cryptocurrency-to-fiat exchanges. The other inspection involves 27 local cryptocurrency exchanges, evaluating their compliance preparedness for the new regulatory framework. This inspection aligns with Australia's anti-money laundering regulatory reforms that came into effect on March 31, which expanded the regulatory scope from traditional exchanges to include custodians, brokers, and other virtual asset service providers (VASPs).

Australia's Anti-Money Laundering Regulator Launches Special Inspections on 63 Crypto Firms

On May 8, with the official implementation of Australia's crypto regulatory reform, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced today the launch of two oversight actions targeting the virtual asset industry. AUSTRAC stated on social media that it is engaging with dozens of crypto companies and trading platforms, focusing on how they manage anti-money laundering and counter-terrorism financing (AML/CTF) risks and preparing for the upcoming reforms. The oversight actions primarily target over-the-counter (OTC) operators and local trading platforms. The new laws have expanded the regulatory scope to include custody and brokerage services. This reform marks a further enhancement of Australia's regulatory framework for the crypto industry, aimed at improving compliance standards and mitigating financial crime risks.

[Australia's Crypto Regulatory Reform Takes Effect, AUSTRAC Launches Two Industry Oversight Actions]On May 8, with the official implementation of Australia's crypto regulatory reform, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced today the launch of two oversight actions targeting the virtual asset industry. AUSTRAC stated on social media that it is engaging with dozens of crypto companies and trading platforms, focusing on how they manage anti-money laundering and counter-terrorism financing (AML/CTF) risks and preparing for the upcoming reforms. The oversight actions primarily target over-the-counter (OTC) operators and local trading platforms. The new laws have expanded the regulatory scope to include custody and brokerage services. This reform marks a further enhancement of Australia's regulatory framework for the crypto industry, aimed at improving compliance standards and mitigating financial crime risks.

Australia's Crypto Regulatory Reform Takes Effect, AUSTRAC Launches Two Industry Oversight Actions

On May 8, Cango, a Bitcoin mining company listed on the US stock market, released its operational update for April, reporting an output of 230.04 BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC.

[Cango Mines 230.04 BTC in April, Reserves Rise to 1057.46 BTC]On May 8, Cango, a Bitcoin mining company listed on the US stock market, released its operational update for April, reporting an output of 230.04 BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC.

Cango Mines 230.04 BTC in April, Reserves Rise to 1057.46 BTC

On May 8, the National Internet Information Office, the National Development and Reform Commission, and the Ministry of Industry and Information Technology jointly issued the 'Implementation Opinions on the Application and Innovative Development of Intelligent Agents.' The 'Implementation Opinions' clarify that the development of intelligent agents should adhere to the basic principles of safety and controllability, standardized and orderly development, innovation-driven approaches, and application-led initiatives. It proposes four key measures: First, solidifying the development foundation by improving the technological base and constructing standard protocols. Second, maintaining a strong safety baseline by clarifying product standards, preventing security risks, enhancing governance systems, and strengthening industry self-regulation. Third, reinforcing application-led initiatives by proposing 19 typical application scenarios focused on scientific research, industrial development, boosting consumption, improving public welfare, and social governance. Fourth, building an innovative ecosystem to promote industrial cooperation and strengthen application promotion. (Source: Jinshi Data APP)

[Three Departments Issue Implementation Opinions on the Application and Innovative Development of Intelligent Agents]On May 8, the National Internet Information Office, the National Development and Reform Commission, and the Ministry of Industry and Information Technology jointly issued the 'Implementation Opinions on the Application and Innovative Development of Intelligent Agents.' The 'Implementation Opinions' clarify that the development of intelligent agents should adhere to the basic principles of safety and controllability, standardized and orderly development, innovation-driven approaches, and application-led initiatives. It proposes four key measures: First, solidifying the development foundation by improving the technological base and constructing standard protocols. Second, maintaining a strong safety baseline by clarifying product standards, preventing security risks, enhancing governance systems, and strengthening industry self-regulation. Third, reinforcing application-led initiatives by proposing 19 typical application scenarios focused on scientific research, industrial development, boosting consumption, improving public welfare, and social governance. Fourth, building an innovative ecosystem to promote industrial cooperation and strengthen application promotion. (Source: Jinshi Data APP)

Three Departments Issue Implementation Opinions on the Application and Innovative Development of Intelligent Agents

On May 8, U.S. President Trump posted an image stating that oil prices have dropped by 25% or $30 per barrel since the Biden administration, now standing at $90 per barrel.

[Trump Claims Oil Prices Have Decreased]On May 8, U.S. President Trump posted an image stating that oil prices have dropped by 25% or $30 per barrel since the Biden administration, now standing at $90 per barrel.

Trump Claims Oil Prices Have Decreased

On May 8, Cango, a Bitcoin mining company listed on the U.S. stock market, released its operational update for April, reporting an output of 230.04 BTC with an average cash cost of $68,061 per BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC. The total operational hash rate is 31.58 EH/s, consisting of 20.43 EH/s from self-mining and 11.15 EH/s from hash rate leasing.

[Cango Mines 230.04 BTC in April, Reserves Rise to 1057.46 BTC]On May 8, Cango, a Bitcoin mining company listed on the U.S. stock market, released its operational update for April, reporting an output of 230.04 BTC with an average cash cost of $68,061 per BTC. As of April 30, the company's Bitcoin reserves increased to 1057.46 BTC. The total operational hash rate is 31.58 EH/s, consisting of 20.43 EH/s from self-mining and 11.15 EH/s from hash rate leasing.

On May 8, analyst Murphy stated that while the market is generally focused on the $60,000 price low, chip structure analysis reveals that Bitcoin's true bottom may be in the dense trading zone around $66,000. Data shows that approximately 440,000 BTC have accumulated in this position, with 240,000 of that turnover occurring between February and April. Currently, the chip ratio in the $65,000 to $78,000 range has reached 13.8%. Although this is still below the 18.7% level prior to the FTX collapse in October 2022, considering that traditional funds such as ETFs and MicroStrategy have locked about 13% of circulating chips at relatively high levels during this cycle, the current ratio provides a foundation for building a bottom structure. If the market can experience a second retest and achieve further turnover in this range, it will solidify the bottom foundation and enhance its 'resilience.' The true bottom should not be judged by the lowest price ($60,000) but rather by the trading zone where large capital has concentrated (around $66,000). Currently, turnover in the $78,000 to $82,000 range remains insufficient, and market divergences still need to be resolved.

[Analysis: Chip Structure Indicates BTC Bottom Formation, $66,000 as Real Capital Entry Zone]On May 8, analyst Murphy stated that while the market is generally focused on the $60,000 price low, chip structure analysis reveals that Bitcoin's true bottom may be in the dense trading zone around $66,000. Data shows that approximately 440,000 BTC have accumulated in this position, with 240,000 of that turnover occurring between February and April. Currently, the chip ratio in the $65,000 to $78,000 range has reached 13.8%. Although this is still below the 18.7% level prior to the FTX collapse in October 2022, considering that traditional funds such as ETFs and MicroStrategy have locked about 13% of circulating chips at relatively high levels during this cycle, the current ratio provides a foundation for building a bottom structure. If the market can experience a second retest and achieve further turnover in this range, it will solidify the bottom foundation and enhance its 'resilience.' The true bottom should not be judged by the lowest price ($60,000) but rather by the trading zone where large capital has concentrated (around $66,000). Currently, turnover in the $78,000 to $82,000 range remains insufficient, and market divergences still need to be resolved.

Analysis: Chip Structure Indicates BTC Bottom Formation, $66,000 as Real Capital Entry Zone

On May 8, the South Korean National Assembly passed an amendment to the Foreign Exchange Transactions Act, strengthening the regulation of local companies' cross-border transfers of crypto assets. The amendment requires businesses transferring crypto assets overseas for commercial purposes to register in advance with the Minister of Economy and Finance. It also introduces a new definition for 'virtual asset transfer business,' covering institutions such as crypto trading platforms and digital asset custodians engaged in crypto buying, selling, exchanging, and transferring both domestically and internationally. This is part of South Korea's recent tightening of crypto regulations. The Financial Services Commission (FSC) plans to extend the Travel Rule to all crypto transactions (previously limited to amounts over 1 million KRW) and will impose a 22% capital gains tax on crypto earnings exceeding 2.5 million KRW starting January 2027.

[South Korea Tightens Cross-Border Regulation on Crypto Assets, Requires Prior Registration for Asset Transfers]On May 8, the South Korean National Assembly passed an amendment to the Foreign Exchange Transactions Act, strengthening the regulation of local companies' cross-border transfers of crypto assets. The amendment requires businesses transferring crypto assets overseas for commercial purposes to register in advance with the Minister of Economy and Finance. It also introduces a new definition for 'virtual asset transfer business,' covering institutions such as crypto trading platforms and digital asset custodians engaged in crypto buying, selling, exchanging, and transferring both domestically and internationally. This is part of South Korea's recent tightening of crypto regulations. The Financial Services Commission (FSC) plans to extend the Travel Rule to all crypto transactions (previously limited to amounts over 1 million KRW) and will impose a 22% capital gains tax on crypto earnings exceeding 2.5 million KRW starting January 2027.

South Korea Tightens Cross-Border Regulation on Crypto Assets, Requires Prior Registration for Asset Transfers

On May 8, Chloe, a columnist for HTX DeepThink and a researcher at HTX Research, analyzed that the core variables of the current cryptocurrency market are shifting from a singular "rate cut expectation trade" to a composite framework of "employment resilience + inflation pressure + interest rate path uncertainty." The non-farm payroll data for April, set to be released this Friday, has become the most critical macro trigger in the short term, with the market expecting an addition of about 62,000 jobs, significantly lower than March but still within a stable range, an unemployment rate holding at 4.3%, and a rebound in wage growth. This presents a typical "difficult to shift to easing" environment for the Federal Reserve. Even if non-farm data weakens, the market will struggle to bet heavily on rate cuts; if the data is stronger, it may instead reignite pricing for "higher rates for longer." For the cryptocurrency market, the logic of liquidity-driven rises is difficult to establish in the short term. BTC continues to show relative resilience against declines, but fundamentally remains sensitive to U.S. dollar liquidity; stronger non-farm data combined with rising wages will directly suppress its performance, while weaker data without a significant rise in unemployment will also struggle to trigger a comprehensive rebound. Structural differentiation continues, with BTC in a defensive position, primarily supported by ETFs and institutional funds; ETH relies on on-chain activity and risk appetite recovery, showing weaker elasticity; altcoins, especially those tied to AI narratives and assets without cash flow support, are most susceptible to valuation compression in a high-rate, low-liquidity environment. Notably, the current new jobs are concentrated in essential industries such as education and healthcare, which have low AI penetration; this "narrow growth" structure is unlikely to support a broad recovery in risk appetite, which is more unfavorable for high Beta assets. Overall, the significance of this non-farm report lies not in the quality of the data itself, but in whether it further reinforces the current macro framework: stable but not strong employment, sticky inflation, and difficulty in lowering interest rates. Within this framework, the cryptocurrency market is expected to maintain characteristics of "high volatility, heavy structure, and light Beta" in the short term. Attention should be paid to two key variables: whether wage data exceeds expectations affecting the interest rate path, and whether the unemployment rate shows marginal increases reopening rate cut expectations. Until clear signals emerge, the market may continue the pattern of BTC relatively outperforming while altcoins generally face pressure.

[HTX DeepThink: Non-Farm Data Approaches, Employment Resilience and Inflation Stickiness Lock in High Rate Framework]On May 8, Chloe, a columnist for HTX DeepThink and a researcher at HTX Research, analyzed that the core variables of the current cryptocurrency market are shifting from a singular "rate cut expectation trade" to a composite framework of "employment resilience + inflation pressure + interest rate path uncertainty." The non-farm payroll data for April, set to be released this Friday, has become the most critical macro trigger in the short term, with the market expecting an addition of about 62,000 jobs, significantly lower than March but still within a stable range, an unemployment rate holding at 4.3%, and a rebound in wage growth. This presents a typical "difficult to shift to easing" environment for the Federal Reserve. Even if non-farm data weakens, the market will struggle to bet heavily on rate cuts; if the data is stronger, it may instead reignite pricing for "higher rates for longer." For the cryptocurrency market, the logic of liquidity-driven rises is difficult to establish in the short term. BTC continues to show relative resilience against declines, but fundamentally remains sensitive to U.S. dollar liquidity; stronger non-farm data combined with rising wages will directly suppress its performance, while weaker data without a significant rise in unemployment will also struggle to trigger a comprehensive rebound. Structural differentiation continues, with BTC in a defensive position, primarily supported by ETFs and institutional funds; ETH relies on on-chain activity and risk appetite recovery, showing weaker elasticity; altcoins, especially those tied to AI narratives and assets without cash flow support, are most susceptible to valuation compression in a high-rate, low-liquidity environment. Notably, the current new jobs are concentrated in essential industries such as education and healthcare, which have low AI penetration; this "narrow growth" structure is unlikely to support a broad recovery in risk appetite, which is more unfavorable for high Beta assets. Overall, the significance of this non-farm report lies not in the quality of the data itself, but in whether it further reinforces the current macro framework: stable but not strong employment, sticky inflation, and difficulty in lowering interest rates. Within this framework, the cryptocurrency market is expected to maintain characteristics of "high volatility, heavy structure, and light Beta" in the short term. Attention should be paid to two key variables: whether wage data exceeds expectations affecting the interest rate path, and whether the unemployment rate shows marginal increases reopening rate cut expectations. Until clear signals emerge, the market may continue the pattern of BTC relatively outperforming while altcoins generally face pressure.

HTX DeepThink: Non-Farm Data Approaches, Employment Resilience and Inflation Stickiness Lock in High Rate Framework

PSG fluctuated by 55.14% within 24 hours, current price $1.1192

【PSG's 24-hour fluctuation exceeds 50%!】PSG fluctuated by 55.14% within 24 hours, current price $1.1192

PSG's 24-hour fluctuation exceeds 50%!

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