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On June 5, Xi Jinping, General Secretary Of The CPC Central Committee And President Of China, And Thongloun Sisoulith, General Secretary Of The Lao People's Revolutionary Party Central Committee And President Of Laos, Attended A Signing Ceremony At The Great Hall Of The People In Beijing
Just After Abolishing The Growth‑rate Assessment For Small And Micro Enterprises, Several Major Banks Have Already Asked Their Existing Credit‑approved Clients To Provide Additional Collateral
According To TASS, The Russian Federal Budget May Receive An Additional 1 Trillion Rubles In Revenue Due To The Situation In The Strait Of Hormuz
Rosneft CEO: No Country Can Make Up For The Oil Supply Losses Caused By The Middle East Crisis, Not Even The United States
The Indian Rupee Rose 0.9% Against The Dollar To 94.9450, Marking Its Biggest One-day Gain Since April 2
According To Romanian Media G4Media, The Mayor Of Constanta County Stated That A Drone Explosion Occurred In Constanta, And Another Drone Exploded In Ukraine. The Search For The Remaining Three Drones Is Still Ongoing
The Swiss Government Anticipates That The United States May Impose Additional Tariffs In Response To Its Section 301 Investigation Into Overcapacity
The Swiss Government Stated That Switzerland Will Continue Negotiations (regarding The Additional US Tariffs). Switzerland Is Adopting A Comprehensive Approach, Combining Government Regulation, Mandatory Risk Assessments Initiated By The Private Sector, And International Cooperation
British Prime Minister Starmer: Defense Investment Plan Will Be Released Before The NATO Summit On July 7
The Draft Regulations On The Administration Of RMB Deposit And Loan Interest Rates Has Been Released, Explicitly Stipulating That Soliciting Deposits At Excessively High Interest Rates—including By Means Such As Illegally Making Manual Interest Supplement
Ukrainian Drone Commander: Ukrainian Drones Attacked Five Ships In The Ports Of Mariupol And Berdyansk, As Well As In The Coastal Waters Of The Russian-occupied Territories
Sources Say The Scottish Government Is In Talks With Investors In Preparation For Its First Bond Issuance
The State Council: It Is Prohibited To Use Private Equity Funds To Illegally Incur Or Restructure Debt, Or To Dispose Of Troubled Enterprises, In Order To Prevent The Emergence Of New Risk Factors
The State Council: Broaden Funding Sources For Private Equity Funds And Venture Capital Funds Through Multiple Channels
Both WTI And Brent Crude Oil Prices Fell By Nearly $1 In The Short Term, Currently Trading At $93.59/barrel And $93.36/barrel Respectively
Russian Central Bank Deputy Governor Zabotkin: The Central Bank Will Take Into Account The Factor Of Delaying The Achievement Of The Primary Budget Zero Deficit Target When Adjusting The Key Interest Rate Path And Revising Economic Forecasts
State Council: Strictly Control The Establishment Of New Government Investment Funds; County-level And District-level Governments Should Generally Not Establish New Ones

ECB President Lagarde Speaks
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Coinbase CEO Brian Armstrong says he’s optimistic that US senators are moving closer to advancing key cryptocurrency market structure legislation by Thanksgiving, suggesting that there’s now far more agreement on both sides of the aisle than there are differences.
“Even though the government is shut down, the Senate is working hard on getting market structure legislation passed for crypto,” Armstrong said in a video posted on X.
According to Armstrong, roughly 90% of the legislative framework has already been agreed upon, with the remaining 10% focused on issues like decentralized finance (DeFi). He added that policymakers are looking for ways to protect innovation while ensuring that “centralized intermediaries, like Coinbase, should be regulated — not the protocols.”
Armstrong also underscored the importance of “preserving stablecoin rewards” in the wake of the GENIUS Act, passed earlier this year, which set federal standards for stablecoin reserves, transparency and consumer protections.
“The big banks are coming for their cash grab, trying to block that,” he said. “We’re not going to let them re-litigate that.”
Banking lobby pushback on the GENIUS Act
Armstrong’s criticism of the banking industry comes as many lobbyists oppose the GENIUS stablecoin act, particularly over what they view as a loophole allowing interest payments.
While the GENIUS Act explicitly prohibits stablecoin issuers from offering interest or yield, that restriction does not apply to exchanges, according to the Bank Policy Institute (BPI).
By excluding crypto exchanges like Coinbase, “the requirements in the GENIUS Act can be easily evaded and undermined by allowing payment of interest indirectly to holders of stablecoins,” the BPI said. 
As Cointelegraph reported, banking lobbies have grown increasingly concerned that stablecoins could threaten their business model — one that currently offers depositors minimal interest. Industry insider and New York University professor Austin Campbell noted that bankers are “panicking” over the prospect of stablecoin holders earning yields.
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