11.2 AI Daily AI Leads a New Era: Musk Predicts the Disappearance of Mobile Apps, Encryption Economy Welcomes Transformation

1. Headlines

1. Musk predicts that mobile apps will disappear within 5 years, with AI-generated content dominating.

In a podcast episode, Musk predicted that within the next 5-6 years, traditional phones and apps will be replaced, and most of the content consumed by humans will be generated in real-time by AI. He believes that there will be no operating systems or apps in the future; phones will merely display pixels and emit sound, predicting what users want to see and hear, which will then be generated in real-time by AI. Phones will essentially become edge nodes for AI inference, equipped with radio modules for connectivity.

Musk's viewpoint suggests that AI on the server side will communicate with AI on user devices to generate any real-time video that users want. This prediction reflects the rapid development of AI technology, which could potentially disrupt the current models of content production and consumption in the future. If Musk's prediction comes true, it will have a profound impact on industries such as the internet, media, and entertainment. Content production and distribution will become more intelligent and personalized, fundamentally transforming the user experience.

However, Musk's prophecy has also raised some doubts and concerns. Some analysts believe that content generated entirely by AI poses potential risks, such as unresolved issues related to intellectual property, copyright, and privacy. Additionally, the authenticity and credibility of AI-generated content also need to be taken seriously. Overall, Musk's prophecy presents us with a vision of a brand new AI-dominated era, but its actual realization requires preparations in various aspects such as technology, law, and ethics.

2. EU police call for the establishment of global blockchain training standards to strengthen anti-money laundering cooperation.

At a recent meeting, Europol emphasized the necessity of strengthening international cooperation to combat cryptocurrency crime, calling for the establishment of global standards and fair blockchain training. The meeting pointed out that due to the complexity of blockchain technology, law enforcement faces challenges related to inadequate training, which affects the efficiency of cross-border investigations.

The conference believes that establishing global blockchain training standards is crucial for improving the professional level of law enforcement personnel. Standardized training will ensure that law enforcement agencies in different countries acquire consistent knowledge and skills, which is beneficial for enhancing information sharing and joint actions. At the same time, fair training will also eliminate gaps between different countries, preventing the emergence of “blank areas” that criminals can exploit.

In addition, the conference called for strengthened international cooperation, sharing of intelligence and best practices. Cryptocurrency crimes often involve multiple countries and regions, requiring joint efforts from all nations to effectively combat them. Strengthening cooperation not only helps trace the flow of funds but also prevents criminals from escaping punishment by exploiting jurisdictional differences.

Analysts point out that as cryptocurrencies are more widely adopted, related criminal activities will also increase. Establishing global standards and strengthening international cooperation will help law enforcement keep pace with technological developments and maintain the security of the financial system. However, it is also necessary to balance privacy protection with regulation to avoid excessive oversight that stifles innovation.

3. Coinbase CEO: Stablecoin payments will be integrated into Web requests, becoming an important component of the new internet.

Coinbase CEO Brian Armstrong stated that Coinbase is developing a new feature called “x402” that will allow stablecoin payments to be attached to any web request, which will become an important part of the new internet.

Armstrong explained that x402 will allow any website or application to accept stablecoin payments upon request, without the need to integrate complex crypto payment systems. Users only need to connect their crypto wallets to pay for website content subscriptions, purchase goods or services, etc., using stablecoins. This will significantly lower the barrier to crypto payments and promote widespread adoption.

Analysts believe that if x402 can be widely adopted, it will bring fundamental changes to the internet. Currently, most websites and applications still rely on traditional payment methods, such as credit cards and PayPal. Introducing stablecoin payments will increase efficiency, reduce costs, and provide users with more choices.

However, the promotion of x402 also faces some challenges. First, there are regulatory issues; different countries have varying attitudes towards cryptocurrencies, which may affect the application of x402. Secondly, user education is necessary, as most ordinary users are still unfamiliar with the use of cryptocurrency wallets. Furthermore, x402 also needs to gain sufficient ecosystem support to truly function.

Overall, x402 represents a significant step towards the popularization of cryptocurrency. If successfully promoted, it will help drive the development of the crypto economy and bring a brand new payment experience to the internet.

4. Former Intel CEO promotes Christian AI, sparking discussions on the fusion of religion and technology.

Former Intel CEO Pat Gelsinger ( has joined an AI company called Gloo, promoting the development of AI systems based on Christian values, sparking heated discussions on the fusion of religion and technology.

KISSINGER stated that he hopes to develop a “Christian-oriented large language model” through Gloo to evaluate the contributions of AI models to humanity based on the “human prosperity benchmark.” He believes that AI should adhere to Christian values, such as respect for life and the pursuit of equality and peace, rather than merely seeking profit maximization.

Gloo's approach has sparked polarized reactions. Supporters argue that integrating religious ethics into AI helps ensure the healthy development of technology and prevents abuse. However, critics worry that this may limit AI's innovative potential and pose the risk of religious discrimination.

Analysts point out that as AI continues to permeate all aspects of society, it is indeed necessary to consider its ethical and value impacts. However, how to balance different values and avoid discrimination and oppression of minority groups remains a topic worthy of in-depth discussion.

In addition, the integration of religion and technology has also sparked broader reflections. Some scholars believe that the development of technology itself contains a certain “religious fervor” that requires more humanistic care. On the other hand, some people worry that the intervention of religion in technology may hinder rational thinking and innovation.

Overall, Kissinger's approach has once again brought the relationship between religion and technology to the forefront of discussion. In today's world where AI is becoming increasingly powerful, how to align technological development with humanistic values is a significant issue that urgently needs to be addressed.

) 5. Romania has blacklisted Polymarket, calling it an “illegal gambling platform”

Romania's gambling regulator has recently blacklisted the decentralized prediction market Polymarket, calling it a “gambling platform that must be licensed.”

Polymarket is an Ethereum-based prediction market platform that allows users to bet on the outcomes of future events. Users can purchase tokens related to events, and if their predictions are correct, the value of the tokens will increase, allowing users to profit.

The Romanian regulatory authority believes that Polymarket fits the definition of counterparty betting, as users place bets where the outcome of future events determines their win or loss. Therefore, Polymarket needs to obtain a gambling license from the Romanian government to operate legally in the country.

Polymarket responded by stating that they are a prediction market rather than a gambling platform, where users trade on the probability of events occurring, rather than betting against each other. However, the Romanian regulators did not accept this explanation.

Analysts point out that this event highlights the regulatory dilemmas faced by decentralized finance in different jurisdictions. Due to the lack of unified regulatory standards, DeFi platforms may be considered illegal activities in some countries. This not only affects the development of DeFi but may also result in harm to user interests.

On the other hand, the event has triggered a reflection on the definition of gambling. In some countries, any activity involving uncertainty and money may be considered gambling. However, with the continuous emergence of financial innovations, whether this definition is still applicable is worth discussing.

Overall, the Polymarket incident highlights the tension between regulation and innovation once again. In emerging fields such as cryptocurrency and DeFi, establishing clear and unified regulatory standards is an urgent issue that needs to be addressed.

2. Industry News

1. Bitcoin is fluctuating around $110,000, with macro factors and institutional capital strength at play.

Bitcoin prices have been fluctuating around the low of $110,000, reflecting market concerns over the Federal Reserve's interest rate hike path. Although U.S. inflation data has shown slight easing, Federal Reserve officials continue to insist on raising interest rates to higher levels to curb inflation. This has heightened investor fears of an economic recession, leading to suppressed demand for risk assets.

On the other hand, the demand for Bitcoin from institutional investors continues to increase. Last week, MicroStrategy announced its quarterly earnings benefiting from its Bitcoin holdings, further strengthening the bullish sentiment among institutions regarding Bitcoin's long-term outlook. In addition, the advancement of cryptocurrency regulation and ETF applications in the United States has also brought positive prospects for Bitcoin's long-term future.

Under the interplay of macro factors and institutional capital strength, Bitcoin's price fluctuates around the low level of $110,000. Analysts believe that the short-term trend of Bitcoin will depend on the Federal Reserve's policy stance and the flow of institutional funds.

2. Ethereum price slightly decreased, market sentiment is cautious.

The price of Ethereum has slightly declined, indicating a cautious market sentiment. Although Ethereum completed the Shanghai upgrade last week, allowing validators to withdraw staked ETH, this positive factor seems to have been fully digested by the market.

Analyst Mark Newton pointed out that current technical indicators do not show signs of Ethereum peaking. He listed five reasons, including the Elliott Wave structure, DeMark indicators, MACD indicators, mid-term trends, and market sentiment, believing that Ethereum has not yet peaked.

However, some analysts are cautiously optimistic about Ethereum's future. They point out that Ethereum's price has been consolidating over the past few months, lacking a clear direction. Additionally, some projects within the Ethereum ecosystem, such as Friendtech and Restaking, have seen a significant loss of users after their token launches, raising concerns about the long-term development of the Ethereum ecosystem.

Overall, the price of Ethereum has dipped slightly, reflecting a cautious market sentiment. Investors are closely monitoring the macroeconomic situation and the development trends of the Ethereum ecosystem to assess its future trajectory.

3. The altcoin market regains momentum, analysts predict the arrival of altcoin season.

The altcoin market has regained years of support after significant fluctuations in October, demonstrating resilience and sparking hopes for a new round of bullish trends. Some analysts predict that November will usher in altcoin season, with key indicators showing stable altcoin market prices and extreme sell-offs.

Successful support maintenance may lead to a strong rebound or cautious short-term relief. Momentum indicators suggest that buyers may be strengthening, but confirming an upward breakout is key to avoiding the risk of false breakouts.

However, some analysts warn that a real recovery depends on breaking through the resistance of a trillion-dollar market cap. They believe that the current rebound in the altcoin market may only be a short-term technical correction and requires more fundamental positive factors to support a long-term rise.

Regardless, the resurgence of the altcoin market has attracted the attention of investors. Investors are closely monitoring the price trends of altcoins, seeking potential investment opportunities.

4. Insufficient liquidity in cryptocurrency exchanges, MEV becomes a barrier for institutional investors.

The maximum extractable value ### MEV ( is becoming an important factor hindering institutional investors from adopting decentralized finance ) DeFi (. Labs CEO Aditya Palepu stated that due to the lack of transaction privacy, financial institutions cannot adopt DeFi, as this exposes them to risks of market manipulation and front-running.

MEV refers to the process by which miners or validators rearrange transactions in a block to extract profit. This issue of information asymmetry exists in all electronic trading markets, but it is particularly prominent in cryptocurrency exchanges because trading data is made public before execution.

Palepu believes that MEV is driving institutional investors away from DeFi, thereby harming the interests of retail users. He calls for cryptocurrency exchanges to take measures to address this issue, such as enhancing trading privacy, to attract more institutional funds into the cryptocurrency market.

Analysts point out that MEV not only affects DeFi but also poses challenges to centralized cryptocurrency exchanges. Some exchanges have already taken measures to mitigate the impact of MEV, but the issue remains and requires a collective effort from the entire industry to address.

) 5. The market capitalization of privacy coins has exceeded $24 billion, reflecting the market's demand for privacy protection.

The market capitalization of the privacy coin sector has surpassed 24 billion USD, with a 24-hour increase of over 14%, reflecting the growing market attention to privacy protection. Privacy coins use encryption technology to hide transaction details and protect users' financial privacy.

As regulatory agencies increase their efforts to regulate cryptocurrencies, the demand for privacy coins is also on the rise. The European Cybercrime Centre recently stated that it will enhance international cooperation and investment to investigate cryptocurrency crimes, further highlighting the importance of privacy coins in protecting user privacy.

However, privacy coins are also banned or restricted in some countries. The U.S. Securities and Exchange Commission has stated that privacy coins may be used for illegal activities, thus requiring increased regulation. Overall, the rise in the market value of privacy coins reflects the market's demand for privacy protection and highlights the importance of privacy protection in the cryptocurrency ecosystem.

3. Project News

1. zCloak Passkey wallet completes integration with ChatGPT and Claude APP

zCloak Network is a company focused on blockchain security and privacy. Its flagship product, zCloak.Money, is an enterprise-level multi-signature wallet fully built on-chain, utilizing Passkey biometric technology to provide the highest level of security in the industry, fundamentally eliminating the risk of hacker software stealing private keys and phishing attacks.

Latest News: zCloak Network announces that its Passkey multi-signature wallet has completed integration with ChatGPT and Claude APP. Users only need to enter commands in the dialogue box to complete Passkey login in the in-app browser and utilize all the features of the wallet. This is the first time an all-functional crypto wallet has been integrated into mainstream AI applications, marking an important breakthrough in the convergence of AI and blockchain technology.

Market Impact: This integration is expected to eliminate the last barrier for ordinary users to access blockchain technology, making blockchain applications as easy to use as social media. In the future, users will be able to complete the majority of cryptocurrency operations through conversation within AI applications. This will greatly enhance the user-friendliness of blockchain products and is expected to promote the widespread adoption of blockchain technology.

Industry feedback: Dr. Zhang, the founder of zCloak, stated: “By embedding the Passkey wallet into mainstream AI applications, we are eliminating the last barrier for ordinary users to access blockchain technology, making blockchain applications as simple as using social media. In the future, users will be able to complete the vast majority of crypto operations through conversations within these AI applications.”

2. Capybobo completed the TGE snapshot, and the exclusive airdrop season event is about to begin.

Capybobo is the first trendy toy project in the TON and KAIA ecosystems, preparing to launch “Crypto Doll Clothes” to create its own trendy toy IP.

Latest Update: Capybobo completed the TGE snapshot on November 2nd. The official announcement revealed that the airdrop query interface will officially go live on November 3rd, allowing users to check their personal $PYBOBO token allocation. At the same time, the exclusive activities for the Capybobo airdrop season will also begin, with specific participation rules to be announced soon.

Market Impact: As the first trendy toy project in the TON and KAIA ecosystem, the airdrop event of Capybobo is expected to attract a lot of attention. Its innovative “crypto doll clothing” concept is likely to create a new trend in the trendy toy sector, injecting new vitality into blockchain games and digital collectibles.

Industry feedback: TON ecosystem investor Dior said: “The TON ecosystem lacks trendy toy projects, and the addition of Capybobo will enrich the ecological diversity. Its innovative 'crypto doll clothing' concept is worth looking forward to and is expected to bring a new experience to blockchain games.”

3. Nubila will collaborate with Nut AI to advance real-time data interoperability with AI agents.

Nubila Network is a project focused on real-time data and AI agents. Its x402 protocol aims to achieve interoperability between real-world data and AI agents.

Latest News: Nubila has announced a partnership with Nut AI during the upcoming integration phase of the x402 protocol to jointly promote the fusion of real-time data and AI agents.

Market Impact: This cooperation is expected to accelerate the creation of an intelligent economy based on real-time data, enabling more real-world applications for AI. Through collaboration with Nut AI, Nubila can leverage its AI technology advantages to enhance the performance and applicability of the x402 protocol.

Industry feedback: AI analyst Jane stated: “Real-time data is key to AI development, but currently the connection between AI and real-world data is still relatively weak. The collaboration between Nubila and Nut AI will help address this pain point and empower AI for more real-world applications.”

4. Galaxy: The army of altcoin ETFs is about to arrive, which ones will have a bright future?

In October 2025, the US market launched three new cryptocurrency ETFs, among which wise's Solana spot staking ETF attracted a large inflow of funds. In contrast, the ETFs for Hedera and Litecoin performed poorly.

Latest developments: Analysis agency Galaxy stated that this listing marks intensified competition in the digital asset space, reflecting the opportunities brought by regulatory changes. More ETFs are expected to be listed in the future, and the innovative staking strategy of BSOL may impact market liquidity.

Market Impact: Cryptocurrency ETFs provide investors with more diversified investment channels and are expected to accelerate the inflow of institutional funds into the digital asset market. The performance of different cryptocurrency ETFs will also influence the development patterns of various public chain ecosystems.

Industry feedback: Digital asset investor John stated: “Cryptocurrency ETFs provide investors with a new way to mitigate risks and are expected to attract more institutional funds into the digital asset market. However, the performance of different currency ETFs will also intensify competition among public chain ecosystems.”

5. Musk predicts: In five years, traditional phones and apps will disappear, and most of the content consumed by humans will be generated by AI.

Tesla CEO Elon Musk predicted a radical future in a podcast episode: in the next 5-6 years, traditional smartphones and apps will disappear, and most of the content consumed by humans will be generated by AI.

Latest news: Musk believes that in the future there will be no operating systems and apps; mobile phones will only display pixels and emit sounds, predicting user needs and generating content in real time. Server-side AI will communicate with AI on user devices to generate any real-time video that users want.

Market Impact: If Musk's predictions come true, it will fundamentally change the way humans interact with machines, with AI dominating content production and information dissemination. This will bring a huge shock to the existing content production and dissemination industries, and will also give rise to new business models and employment forms.

Industry feedback: AI analyst Kevin stated: “Although Musk's predictions are far off, AI is indeed reshaping the way content is produced and disseminated. In the future, AI will play an increasingly significant role, and relevant practitioners need to make timely adjustments and preparations.”

4. Economic Dynamics

1. The Federal Reserve releases hawkish signals, increasing expectations for interest rate hikes.

Recent comments from Federal Reserve officials have sent hawkish signals, suggesting that they will continue to intensify efforts to curb inflation. After the inflation rate reached a 40-year high of 8.2% in September, it moderately eased to 7.7% in October, but still remains well above the 2% target range. The annualized quarter-on-quarter GDP growth for the U.S. in the third quarter was 2.6%, an improvement from the previous quarter's -0.6%, but the risk of economic slowdown persists.

Federal Reserve Chairman Powell reiterated that “sustained action” will be taken to reduce inflation, suggesting a significant interest rate hike again in December. Other officials have also called for raising rates to a level sufficient to control inflation. Market participants expect the Fed to raise rates by 50 basis points in December, potentially raising the benchmark rate to above 5% in 2023.

Investor expectations for a faster pace of interest rate hikes by the Federal Reserve have heated up, leading to a significant decline in U.S. stocks this week. Goldman Sachs stated that if the Federal Reserve raises interest rates to 5.25%, the U.S. economy will fall into recession in 2024. Goldman Sachs also lowered its forecast for U.S. GDP growth in 2023 to 0.6%.

2. European inflation remains high, and the risk of economic slowdown is increasing.

The inflation rate in the Eurozone reached 10.7% year-on-year in October, far exceeding the European Central Bank's target of 2%. The surge in energy prices is the main driver of inflation, and food prices have also seen double-digit growth. European Central Bank President Lagarde stated that they will continue to raise interest rates significantly to lower inflation expectations, while also acknowledging that the risks of an economic slowdown are increasing.

According to data from the European Union's statistics office, the Eurozone's GDP growth rate for the third quarter was only 0.2% quarter-on-quarter, significantly slowing down from 0.8% in the previous quarter. The German economy is in recession, and the French economy is experiencing weak growth. The energy crisis and ongoing geopolitical tensions continue to hinder the European economic recovery.

Citigroup has lowered its forecast for Eurozone GDP growth in 2023 to 0.7% and expects the European Central Bank to raise interest rates to 3% in the first quarter of 2023. Investor concerns about a recession in the European economy have intensified, leading to a significant drop in European stock markets this week.

3. The new British government relaxes fiscal policy, and the pound plummets.

After taking office, the new British Prime Minister Sunak's government launched a “growth plan” that includes tax cuts and increased spending, aimed at stimulating economic growth. However, this plan has raised serious concerns in the market about the sustainability of the UK's finances.

The UK's inflation rate reached 11.1% year-on-year in October, hitting a 41-year high. To combat high inflation, the Bank of England has raised interest rates consecutively for 8 times and hinted at further significant rate hikes. However, the new government's expansionary fiscal policy may exacerbate inflationary pressures, leading to a sharp decline in the pound's exchange rate.

The UK's GDP grew by 0.2% quarter-on-quarter in the third quarter, slightly improving from 0.1% in the previous quarter, but the risk of economic slowdown is increasing. The Bank of England warns that if inflation continues to spiral out of control, the UK may fall into a prolonged recession.

Goldman Sachs expects the Bank of England to raise interest rates to 4.5% in 2023 to combat the new government's loose fiscal policy. Investor concerns about the UK's economic outlook have intensified, with the pound falling more than 2% against the dollar this week.

4. China's economic recovery is weak, and the central bank has signaled easing.

China's GDP grew by 3.9% year-on-year in the third quarter, further slowing from 4.8% in the first half of the year. Industrial production and consumption data in September also fell short of expectations, reflecting a weak economic recovery.

In response to the pressure of economic slowdown, the People's Bank of China lowered the 7-day reverse repurchase rate and the Medium-term Lending Facility rate this week, signaling further easing of monetary policy. In addition, many regions have introduced new policies to support the real estate market to alleviate liquidity pressures in the real estate industry.

China's economy is facing internal and external pressures. Domestic epidemic prevention and control measures and the difficulties in the real estate industry are dragging down demand, while external factors are influenced by high global inflation and geopolitical tensions.

Citigroup has lowered its forecast for China's GDP growth in 2022 to 3.3% and expects growth to further slow to 4.7% in 2023. Investor concerns over the outlook for the Chinese economy have intensified, leading to a significant drop in the Chinese stock market this week.

5. Regulation & Policy

1. The EU plans to expand central oversight of financial infrastructure.

The European Commission is developing a plan aimed at expanding central oversight of critical financial market infrastructure, targeting stock exchanges and crypto asset service providers. This initiative aims to reduce regulatory fragmentation within the EU single market and enhance the EU's competitiveness in global financial markets.

Under the plan, the powers of the European Securities and Markets Authority ### ESMA ( will be expanded to cover “the most important cross-border entities.” This means that ESMA will gain powers similar to those of the U.S. Securities and Exchange Commission, allowing it to directly supervise major cross-border financial institutions, including cryptocurrency exchanges and clearing houses.

The background of the plan is that the European Union has long faced the problem of regulatory fragmentation. Currently, EU member states hold primary regulatory authority over their national financial institutions, while ESMA is only responsible for coordinating regulation. This fragmented regulatory system is seen as weakening the EU's competitiveness in global financial markets.

Germany and France support this plan, hoping to enhance the transparency of the EU financial markets and the level of investor protection through strengthened central regulation. However, countries such as Luxembourg and Ireland are concerned that excessive centralization of power may undermine the competitive advantages of their national financial industries.

Experts believe that this plan will have a significant impact on the cryptocurrency asset industry. Cryptocurrency exchanges and other crypto asset service providers will face stricter regulations and will need to comply with higher compliance standards. This may increase operational costs in the industry, but it will also help improve transparency and investor confidence.

) 2. The U.S. SEC has extended the compliance deadlines for certain securities regulations.

The U.S. Securities and Exchange Commission ### SEC ( issued an “exemption order” on October 31, extending several compliance dates of the National Market System Rules ) Regulation NMS ( to 2026. This move is seen as providing “legal ammunition” for crypto platforms, alleviating regulatory pressure.

Regulation NMS is a core regulatory framework established by the SEC in 2005, aimed at regulating the electronic trading and price competition mechanisms of the stock market. It is one of the underlying rules governing the operation of the US stock market and is binding on all exchanges and brokers.

The background of this exemption order is that, with the development of the cryptocurrency market, the SEC has been striving to apply traditional securities regulations to the field of crypto assets. However, due to the emerging nature of crypto assets, existing regulations are often difficult to apply directly, leading to a regulatory vacuum.

By extending the compliance deadline, the SEC has provided cryptocurrency platforms with more execution buffer time. In the context where regulatory rules are still unclear and compliance standards have not yet been defined, cryptocurrency platforms can invoke “fair notice” and due process defenses, arguing that “you did not tell me how to comply, yet you want to penalize me.”

This initiative has been welcomed by the cryptocurrency industry. Exchanges like Coinbase not only relieve regulatory pressure but may also provide important grounds for legal defense in the lawsuits over the next two years.

However, some experts point out that the exemption order is merely a stopgap measure, and the SEC still needs to quickly clarify the regulatory rules for crypto assets to create a favorable environment for industry development. Prolonged delays will instead exacerbate the regulatory vacuum and affect market order.

) 3. Romania blacklists Polymarket

The Romanian National Gambling Office ### ONJN ( blacklisted the Polymarket prediction platform on October 31, citing that the platform operated without a legal license.

Polymarket is a decentralized prediction market platform that allows users to bet on the outcomes of future events using cryptocurrency. Users can purchase tokens associated with specific outcomes, and if their predictions are correct, the value of the tokens will increase, allowing users to profit.

The Romanian regulatory authority believes that this predictive activity essentially falls under gambling behavior, and therefore requires the appropriate license. Listing Polymarket on the blacklist aims to strengthen the regulation of online gambling services and protect consumer rights.

This decision reflects that regulators are increasing their scrutiny of activities related to crypto assets. As the application of cryptocurrencies continues to expand in mainstream society, compliance issues are attracting more attention.

Polymarket has stated that the platform merely provides a prediction market for users to bet on the possible outcomes of future events, and does not involve traditional gambling activities. However, regulators believe that as long as there is a monetary stake involved, it should be subject to regulation.

Industry insiders point out that this event highlights the complexity of cryptocurrency asset regulation. Different countries have differing definitions of cryptocurrency activities, which poses compliance challenges for cross-border operations. The industry urgently needs unified regulatory standards to clarify which activities require licensing.