Odaily News The Stablecoin Ordinance of Hong Kong, China will come into effect in August. The Director of the Hong Kong Treasury Bureau, Paul Hui, said that the HKMA is currently consulting the market on the implementation of the guidelines for the regulations. The guidelines will be announced this month, and the specific content will involve anti-money laundering and other related requirements. He also stated that the number of stablecoin licenses issued will be in the single digits, and he hopes to receive applications after the regulations come into effect, with the goal of issuing licenses within this year. As for whether financial institutions can issue stablecoins pegged to the RMB after obtaining a license, he said that if it involves currencies in other jurisdictions, it will be discussed with relevant institutions. (Ming Pao)

Odaily News U.S. President Trump said on Sunday that Musk's move to create a new U.S. political party was absurd and could add to the chaos. "I think it's absurd to form a third party," Trump told reporters before boarding Air Force One in New Jersey. "It would only add to the chaos, and he could have a lot of fun with it, but I think it's absurd." (Jinshi)

Odaily News According to monitoring by Ember, a whale has withdrawn 620,000 UNI from OKX in the past three days, worth about $4.6 million. On-chain records show that he previously recharged 3 million USDT to OKX, which may have been purchased on the exchange and then directly transferred out.

Odaily News U.S. Treasury Secretary Bessant said in an interview before: "DOGE's principles are very popular. If you look at the polls, you will find that Musk is not popular." Musk responded: "U.S. Treasury Secretary Bessant is a puppet of Soros. He is a student of political science and can't even learn mathematics. A year ago, my poll results were very positive, which is why Trump attaches so much importance to me."

Odaily News Following Tesla (TSLA.O) CEO Musk's announcement of the establishment of a new political party, the "American Party", the investment company Azoria announced last Saturday that it would postpone the launch of the Tesla-based ETF "Azoria Tesla Convexity ETF". According to reports, Azoria was originally scheduled to launch the ETF this week, which was scheduled to invest in Tesla's stocks and options, providing investors with financial products related to the electric car giant. However, Musk's political actions made Azoria believe that the timing was unstable and decided to postpone the listing plan. Azoria CEO Fishback pointed out that since Musk announced his withdrawal from the leadership of the Government Efficiency Department in May, the outside world has been uneasy about his focus on Tesla. The establishment of a political party further undermines investors' confidence in Tesla's future leadership. (Jinshi)

Odaily News Musk responded to community user @TeslaBoomerMama on the X platform, saying that the Federal Election Commission (FEC) filing documents about the circulating new political party America Party (AMEP) were false and had been reported to the Federal Election Commission.