Minseung Kang

U.S. President Donald Trump is reportedly set to announce the key provisions of the trade agreement between the United States and the United Kingdom within the next few days. According to the Financial Times (FT) on the 12th (local time), President Trump is scheduled to sign the core provisions of the Economic Prosperity Deal between the United States and the United Kingdom within the next few days. In particular, the deal is expected to include an agreement where the United States lowers its high tariffs on British automobiles, while the U.K. allows the entry of American beef and ethanol into its market. A British official stated, "The pace is unusually fast," adding, "We expect official implementation within this week." The media outlet added, "Under the bilateral agreement, the United States will reduce tariffs on 100,000 British-made passenger cars from the current 27.5% to 10%, and the U.K. will grant tariff-free access to 13,000 tons of American beef and 1.4 billion liters of ethanol."

It has been claimed that US President Donald Trump’s tariff policies effectively halted the Bank of Japan (BOJ)’s tightening cycle. According to Odaily, a media outlet specializing in cryptocurrencies, on the 12th (local time), Takako Masai, a former BOJ Policy Board member, stated, “President Trump’s tariff policies may have brought an end to the Bank of Japan’s interest rate hike cycle.” Former board member Masai noted, “With expected hits to export sectors including automobiles, the likelihood of additional rate hikes has sharply decreased,” adding, “Uncertainty over US trade policy is causing serious turmoil across the entire global economy.” She added, “All of Japan’s exports, production, wages, and consumption may come under pressure, and Japan, with its large automobile industry, is inevitably more sensitive to the US auto tariffs.” She further predicted, “The impact from US tariffs will begin in earnest in six to twelve months, and the true test for the Japanese economy could come in 2026.” She also forecast that, “The Bank of Japan may find it difficult to pursue additional rate hikes for a considerable period.”

As Meta (formerly Facebook) is reportedly pushing to introduce stablecoin payment systems, US senators have launched a strong objection. According to Decrypt, a crypto-specialized media outlet, on the 12th (local time), Democratic Senators Elizabeth Warren and Richard Blumenthal recently sent a letter to Meta CEO Mark Zuckerberg, warning that "(Meta) issuing or controlling its own stablecoin could undermine competition across the U.S. economy and infringe on financial privacy." They pointed out, "Meta could concentrate significant economic power based on its daily user base of 3.5 billion," and "Given Meta's previous record of data abuse, it could use this to monitor consumer transaction information and leverage it for advertising revenue." According to a recent report by Fortune, Meta has reportedly been discussing with cryptocurrency companies about integrating stablecoin payment systems into its platforms, such as Instagram, Facebook, and WhatsApp. Meanwhile, Meta has not yet released an official position. Last month, Andy Stone, Meta's spokesperson, stated via X (formerly Twitter), "There is no stablecoin currently in development at Meta."

The Trump administration is reportedly seeking to avoid public conflict with Elon Musk. J.D. Vance, Vice President of the United States, is reportedly continuing efforts to coordinate Musk's support for Trump's agenda. According to Dogedesigner, a Dogecoin (DOGE) community, on the 12th (local time), Vice President J.D. Vance stated, "President Trump wishes Musk the best and does not want longstanding discord." Vance said, "I have spoken with both Musk and the President, and I am working so that Musk supports President Trump's policies both publicly and privately," adding, "I will continue to do so going forward."

Former U.S. Secretary of Commerce Wilbur Ross recently described the newly announced U.S.-China trade agreement as an "incomplete deal that misses key issues." According to Cryptopolitan, a media outlet specializing in virtual assets (cryptocurrency), on the 12th (local time), Ross said regarding the recent U.S.-China deal, "This agreement is an unfinished result that failed to include the issue of intellectual property rights," adding that "President Trump's statement that it is ‘done’ is exaggerated." He stated, "This agreement merely reiterates the existing framework signed a few weeks ago, and many issues still remain." He also added, "It is harder for investors to adapt to uncertainty than to good news." Meanwhile, Ross emphasized that the United States should conclude tariff agreements with its key trade partners before July. He argued, "Early resolution is needed for the direction of both the current bond and stock markets," and stated, "Supplementary measures, such as tax cuts, should have preceded tariff imposition."

China has acknowledged some aspects of the economic and trade agreement with the United States. However, it avoided official mention of specific terms such as rare earth supply, instead focusing explanations on the implementation of agreements reached during leaders' calls and the Geneva meeting. According to the cryptocurrency-specialized media outlet Odaily on the 12th (local time), Lin Jian (林建), spokesperson for the Chinese Ministry of Foreign Affairs, stated at a regular briefing, "China held the first meeting of the China-US economic and trade negotiation yesterday afternoon, and this can be officially confirmed." Spokesperson Lin explained, "This meeting was held under the strategic guidance of the two nations' leaders, and both countries reached a principled agreement to implement the consensus achieved in the phone call on the 5th and to consolidate the outcomes of the Geneva talks." He added, "There has been new progress in resolving economic and trade concerns between the two countries." He stated, "China has always kept its promises and demonstrated this through action," emphasizing, "Now that an agreement has been reached, both sides must faithfully adhere to it." He further added, "We hope the United States will cooperate with China to implement the consensus reached between the leaders of the two countries, actively leverage the role of the China-US economic and trade negotiation mechanism, reduce misunderstandings through communication, and strengthen cooperation."

The Government of the People's Republic of China has recently released an official position regarding rare earth export control measures. It stated that some export applications have already been approved and that reviews related to this matter will continue to be conducted with greater rigor. On the 7th (local time), The Paper, a Chinese media outlet, reported that the Ministry of Commerce of the People's Republic of China announced on its website, "Rare earths are resources that can be used for both military and civilian purposes, and it is common internationally to set certain standards and procedures when exporting them." The Ministry explained, "Recently, as industries such as robotics and electric vehicles have grown, global demand for rare earths has increased," and "China, as a responsible country, is reviewing the applications of companies wishing to export in accordance with the law." It further noted, "Some applications that meet the criteria have already been approved, and such screening will be further strengthened going forward." Additionally, it said, "We will strengthen communication with relevant countries to ensure that exports within the legal scope can proceed smoothly."

It has been reported that Elon Musk, CEO of Tesla, deleted posts that linked Donald Trump, former President of the United States, and Jeffrey Epstein. On the 7th (local time), Walter Bloomberg, a financial news channel, reported via X (formerly Twitter), "Musk has deleted posts connecting Trump and Epstein." Meanwhile, the specific timing or reason for the deletion was not disclosed.

Dara Khosrowshahi (Dara Khosrowshahi), CEO of Uber, assessed Bitcoin as a "proven commodity." He also stated that stablecoins can serve as a practical means for global payments. According to the cryptocurrency-focused media outlet Bitcoin News on the 7th (local time), CEO Khosrowshahi said in a recent Bloomberg Technology interview, "Bitcoin has already established its position as an asset," adding, "Stablecoins can also be a useful means in cross-border remittances and transactions." Previously, CEO Khosrowshahi revealed plans to introduce cryptocurrency payments, such as Bitcoin (BTC) and stablecoins, in the near future.

Former U.S. Vice President Kamala Harris recently hinted that she hopes Elon Musk, CEO of Tesla, will return to political discourse. According to CoinKu, a cryptocurrency-focused media outlet, Harris recently expressed her wish for Musk to participate again in political conversations. There has not yet been any official announcement from The White House related to this. Musk also has not made any public response to this.

Japan-listed company Remixpoint (Remixpoint) has recently acquired 44.8 Bitcoin. According to cryptocurrency-focused media outlet Bitcoin Magazine on the 7th (local time), Remixpoint announced it had purchased Bitcoin totaling $4.7 million (approximately ¥650 million). There is also analysis that the number of companies strategically purchasing Bitcoin (BTC), following the actions of the US firm Strategy (formerly MicroStrategy), is on the rise.

U.S. Vice President JD Vance has recently expressed hope for the return of Elon Musk, CEO of Tesla, to political discourse. According to the crypto-specialized media The O'Daily on the 7th, Vice President Vance conveyed that he wishes for Musk to once again participate in public discussions. Meanwhile, both Musk and the White House have not issued any official announcements regarding this.

Amid ongoing account freeze issues on the global cryptocurrency exchange Coinbase, the company announced that it has made this a top priority and achieved tangible improvements. On the 7th (local time), Brian Armstrong, CEO of Coinbase, stated via X (formerly Twitter), "The account freeze issue has been a serious problem that persisted much longer than we could accept," and added, "We have now made this our top priority, and in fact, it has been reduced by about 82%." CEO Armstrong continued, "There are several causes I could list, but what's important now is that we are focused on resolving it and are seeing real progress," adding, "Further improvements are planned."

While the Supreme Court of India has pointed out the ongoing delay in establishing regulations for virtual assets (cryptocurrencies), the Reserve Bank of India (RBI) has reiterated its intention to maintain its existing stance that virtual assets carry significant risks. According to Cryptopolitan, a specialized digital asset media outlet, on the 7th (local time), Sanjay Malhotra, Governor of the Reserve Bank of India, stated at a policy briefing, "Digital assets still pose threats to financial stability and monetary policy," adding, "A government committee is currently in discussion, and the central bank's concerns remain unchanged." These remarks followed the recent public criticism by the Supreme Court of India concerning the government's lack of regulation for virtual assets. The RBI has previously warned of the dangers of digital assets and maintained a conservative attitude. On this day, it once again confirmed its firm stance regarding the cryptocurrency industry. The outlet reported, "The Indian government has yet to implement clear regulations for virtual assets. It is maintaining a system imposing up to 30% tax on trading profits and a 1% tax deducted at source (TDS)," and added, "Industry insiders argue that such tax policies alone are insufficient to address legal uncertainties and the risk of criminal misuse in the market."

Singapore is reportedly planning to effectively ban virtual asset (cryptocurrency) services targeting only foreigners. On the 6th (local time), according to cryptocurrency-specialized media Cointelegraph, the Monetary Authority of Singapore (MAS) announced, "Businesses providing digital asset services exclusively to overseas clients other than Singapore residents will be required to obtain a license from the 30th." The authority added, "Since this model poses significant regulatory issues, licenses will be issued only in highly limited circumstances." According to the media, MAS is concerned that services operating for overseas clients are difficult to supervise and pose a high risk of money laundering. As a result, companies unable to obtain a license must discontinue their related business activities. MAS added, "Not all digital asset-related businesses are subject to this regulation. Some services dealing exclusively with utility tokens or governance tokens may operate without a license."

There has been news that tariff negotiations between the United States and Japan have made some progress. According to the crypto asset-focused media CryptoPolitan on the 7th (local time), Ryosei Akazawa, Japan's chief trade negotiator, stated after meeting with US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, "There has been certain progress regarding the issue of high tariffs on automobiles, steel, aluminum, etc., which place a burden on the Japanese economy." The outlet reported, "Within Japan, there are also voices calling for a reduction in dependence on the United States in response to President Donald Trump’s strengthening of protectionist policies."

The global virtual asset (cryptocurrency) exchange Coinbase has developed the Ethereum Layer 2 solution 'Base', which is now accelerating the expansion of the worldwide on-chain ecosystem. According to SpachoCrypto, a specialist virtual asset media outlet, on the 7th (local time), Base has recently appointed a total of 7 local leaders in regions including Argentina, Brazil, Central America, United Kingdom, Europe, Singapore, South Korea, and West Africa. In the future, hiring is planned to expand to Germany, Mexico, Turkey, Indonesia, and United Arab Emirates (UAE). Additionally, a separate recruitment for a network manager is being conducted within the United States. This global talent acquisition is described as part of Base's mid-to-long-term strategy to achieve the goals of 'on-chain assets of $100 billion, 25 million users, and 25,000 developers secured' by this year. Local leaders will spearhead locally tailored initiatives such as developer support, hosting hackathons, and spreading on-chain products. According to The Block data released that day, Base is currently recording daily revenue of over $250,000, and quarterly transaction volume in Q1 increased by 16% from the previous quarter. Its total value locked (TVL) has reached $5 billion, ranking it among the top Optimism-based rollup projects. The media added, "Base is not merely a Layer 2, but is becoming the cornerstone of Coinbase's revenue diversification and Web3 expansion strategy."