coordination

Helius CEO mert posted on platform X, stating that decentralization is essentially "coordination without a central authority." If the cost of coordination is close to zero, then it is effectively centralized; if the cost of coordination is infinitely high, then it technically cannot be called decentralized, as the system would not function properly.mert illustrated this point through a thought experiment: suppose there currently exists a highly decentralized blockchain with hundreds of thousands of nodes running from home, distributed mining power, and token supply. He then proposed another extreme hypothesis—if North Korea could transfer funds from wallet A to wallet B within time T, then this would be equivalent to that chain being able to simultaneously detonate nuclear weapons in most countries around the world.Finally, assuming that the blockchain could successfully freeze the funds in wallet A through a fork without causing mass casualties, would this blockchain still be considered decentralized? mert believes that although humanity can achieve coordination due to the shared incentive of "not dying," this does not mean that the chain is "unorganized." Decentralization is still fundamentally "coordination without a central authority."

Pablo Hernandez de Cos, General Manager of the Bank for International Settlements (BIS), stated that global coordination on stablecoin regulation is crucial to prevent severe market fragmentation; otherwise, regulatory differences across jurisdictions could lead to regulatory arbitrage.He pointed out that stablecoins are typically pegged to the US dollar at a 1:1 ratio, which could undermine monetary and fiscal policy, trigger pressures in financial markets, and hinder efforts to combat illegal financing. Currently, the two major stablecoins issued by Tether and Circle account for about 85% of the global circulation of stablecoins, which is approximately $315 billion. He also mentioned that these two types of stablecoins are closer to securities rather than currencies in terms of redemption friction and operate more like ETFs.

According to official news, Circle has released its vision for the development of the internet financial system in 2026, proposing to focus on building cross-chain interoperability infrastructure, liquidity orchestration capabilities, and an institutional-grade asset issuance system to promote the efficient flow of value in a multi-chain ecosystem.In terms of cross-chain infrastructure, Circle stated that it will launch features such as "Fast Transfer" in the future, achieving second-level settlement without waiting for final confirmation from the source chain, thus improving the efficiency of fund utilization. In the asset expansion layer, the CCTP plans to extend to more assets beyond USDC, including EURC, USYC, and cirBTC, and support the issuance and circulation of real-world assets (RWA) across multiple chains.In addition, Circle is advancing cross-chain process coordination, simplifying multi-chain operational processes through tools such as Bridge Kit, Deposit Kit, Fee Service, and Workflows, achieving "one-click" cross-chain interaction, reducing development complexity, and enhancing user experience.

SEC Chairman Paul Atkins stated that the U.S. SEC will deepen coordination with the CFTC, including holding joint meetings and conducting company reviews.

According to CoinDesk, Davide Crapis, head of AI at the Ethereum Foundation, stated that Ethereum's goal is not to merge with AI at the computational level, but to become a coordination and verification layer for the AI world. He pointed out that as more digital activities are handled by AI systems, if these systems are controlled by centralized entities, the values advocated by the crypto movement, such as decentralization, self-sovereignty, anti-censorship, and privacy, will be eroded.Ethereum's AI strategy includes two main directions: first, decentralized AI coordination, providing infrastructure for identity recognition, trust establishment, and payment exchange for increasingly popular AI agents, allowing agents to discover each other, assess reputation, and route payments through public registries via standards like ERC-8004; second, introducing core principles such as privacy, openness, and anti-censorship into the AI field, promoting more AI processing to occur locally on user devices, allowing users to retain control over their data and identity.Crapis emphasized that in a future where AI can impersonate humans, cryptographic keys will become even more important. Even if Ethereum does not provide the "brain" of AI, it can help govern its operating environment.

According to The Block, the Avalanche Policy Alliance has announced the establishment of a new advisory committee, which will be led by Ava Labs' General Counsel Lee Schneider. The members include UK House of Lords member Chris Holmes and several senior figures within the Avalanche ecosystem.The advisory committee will focus on three core issues in 2026: global token classification and intermediary definitions, and internet access protection. Schneider stated that the inspiration for the committee's formation comes from the four major entities already present in the Avalanche ecosystem (Ava Labs, the Avalanche Foundation, and two treasury companies), aiming to ensure a unified effort across the ecosystem from a policy perspective and to promote the broader development of the blockchain and crypto industry.Schneider emphasized that global regulatory coordination is crucial; while the rules in different jurisdictions do not need to be identical, establishing common overarching principles will help the industry's development. He pointed out that if the regulatory differences among major jurisdictions are too great, blockchain or crypto companies will face operational disconnection when expanding into new markets or launching globally applicable products.

The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated that he will attend a joint public event with CFTC Chairman Mike Selig on Thursday at 2 PM (Eastern Time) to discuss regulatory coordination issues between the two major regulatory agencies in the cryptocurrency space.Previously, Atkins mentioned that both parties would work together to fulfill President Trump's commitment to "make the U.S. the global crypto capital." The event will be held at the CFTC headquarters and will be open to the public, with a live online broadcast.

The official U.S. SEC announced on X that it will collaborate with the CFTC next week to host a joint event on "Coordination in the Crypto Era and U.S. Financial Leadership." The event will take place at the CFTC headquarters, will be open to the public, and will be live-streamed on the official website.

The People's Bank of China held a coordination meeting to combat speculation and trading of virtual currencies. The meeting pointed out that, influenced by various factors, speculation in virtual currencies has recently increased, and related illegal activities have occurred from time to time, posing new situations and challenges for risk prevention and control. The meeting emphasized that virtual currencies do not have the same legal status as legal tender, do not have legal compensation, and should not and cannot be circulated as currency in the market. Activities related to virtual currencies are considered illegal financial activities. Stablecoins are a form of virtual currency that currently cannot effectively meet requirements for customer identification, anti-money laundering, and other aspects, posing risks of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers.The meeting required continued adherence to prohibitive policies on virtual currencies and ongoing efforts to combat illegal financial activities related to virtual currencies. All units should deepen cooperation, improve regulatory policies and legal foundations, focus on key areas such as information flow and capital flow, strengthen information sharing, further enhance monitoring capabilities, severely crack down on illegal activities, protect the property safety of the people, and maintain the stability of the economic and financial order.Responsible comrades from the Ministry of Public Security, the Cyberspace Administration of China, the Central Financial Office, the Supreme People's Court, the Supreme People's Procuratorate, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Justice, the People's Bank of China, the State Administration for Market Regulation, the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange attended the meeting.

ChainCatcher news, the official agenda and participants of the joint roundtable meeting on regulatory coordination between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) have been announced. It is reported that the main topics include discussing the relationship between the SEC and CFTC, how regulatory coordination can continue to protect investors while unlocking the economic value of platforms, and how regulatory coordination can increase choices for market participants and reduce costs for investors. Former CFTC Chairman J. Christopher Giancarlo and SEC Division of Trading and Markets Director Jamie Selway will be among the participants.

ChainCatcher news, according to Bloomberg, after discovering differences in the implementation of cryptocurrency regulations across countries, the financial regulators of France, Austria, and Italy urged the EU's top regulatory body to directly oversee large cryptocurrency companies and tighten relevant rules.The EU will implement the Markets in Crypto-Assets Regulation (MiCA) by the end of 2024, requiring cryptocurrency companies to obtain a license in at least one EU member state to operate across the entire EU. In a position paper released on Monday, the financial market regulators of the three countries stated that this approach exposes "significant differences" in the regulation of companies across countries, allowing businesses to exploit loopholes, and suggested transferring oversight of the industry's largest firms to the European Securities and Markets Authority (ESMA). They also noted that the initial implementation of MiCA has shown limited convergence in regulation, making it difficult to ensure uniform EU standards. An ESMA spokesperson responded that they are working to ensure regulatory consistency and had already suggested reconsidering areas for strengthening EU-level regulation last year. Additionally, the three regulators may take precautionary measures to mitigate risks and called for enhanced regulation of global platforms, cybersecurity, and token issuance.

ChainCatcher news, according to official news, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) today issued a joint statement announcing that they will jointly hold a roundtable on September 29, 2025, from 1 PM to 5 PM (Eastern Time) to explore opportunities for regulatory coordination.SEC Chairman Paul S. Atkins and CFTC Acting Chairman Caroline D. Pham stated that both parties will work closely together to provide clarity to the market and transform the unique regulatory structure of the United States into an advantage for market participants, investors, and the public.The statement noted that the previous joint staff statement regarding spot cryptocurrency asset products was just the first step. Both agencies will consider coordinating definitions of products and trading platforms, simplifying reporting and data standards, unifying capital and margin frameworks, and establishing a coordinated innovation exemption mechanism to better serve the public interest.

ChainCatcher news, Hong Kong Legislative Council member Wu Jiezhuang tweeted that the passage of the "Stablecoin Regulation" marks further improvement in Hong Kong's cryptocurrency asset regulation. The regulation is based on international standards, establishing a high-threshold licensing system, emphasizing application scenarios and business sustainability. The Monetary Authority positions stablecoins as payment tools and communicates regulatory expectations with the market through a "sandbox mechanism." He pointed out that the key in the future lies in the effective integration of stablecoins with the traditional financial system and suggested that Hong Kong could learn from the EU's MiCA experience to enhance cross-border coordination.

ChainCatcher news, at the 2025 Lujiazui Forum "Plenary Session II: Enhancing the Coordination of Global Monetary Policies," Zhou Xiaochuan, Vice Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference and former Governor of the People's Bank of China, stated that global monetary policy, including macroeconomic policy, was originally independent and did not require coordination, nor could it be coordinated.However, since the beginning of this century, global economic cycles and macroeconomic conditions have become more aligned, and the macroeconomic status of major countries also affects other nations. Major reserve currency countries need to consider global impacts. Currently, there is no institution responsible for global macro policy coordination, existing in a "three no" state: no institution, no tools, and no consensus.

ChainCatcher message, according to Jinshi reports, the Iranian government stated that the attack could not have occurred without coordination and permission from the United States.

ChainCatcher news, according to The Block, investment bank TD Cowen expressed caution regarding the "crypto strategic reserve" plan announced by U.S. President Trump on Sunday, stating that the plan lacks coordination and does not clarify the source of funding.The TD Cowen Washington research team noted in a report released on Monday: "We advise against overreacting to this social media post. The initial version did not even include Bitcoin and Ethereum in the reserve scope, indicating that the plan has not been fully coordinated." The research team also emphasized that Trump did not discuss how the government would acquire funds to purchase these tokens, raising questions about the feasibility of the plan.Meanwhile, the White House's first cryptocurrency summit is scheduled for this Friday, hosted by crypto mogul David Sacks, with Trump set to speak, and key industry figures and investors expected to attend. TD Cowen stated: "This summit is important and will reveal how the Trump team intends to advance legislation on stablecoins and the structure of the crypto market."