🔥 Gate.io Launchpool $1 Million Airdrop: Stake #ETH# to Earn Rewards Hourly
【 #1# Mainnet - #OM# 】
🎁 Total Reward: 92,330 #OM#
⏰ Subscription: 02:00 AM, February 25th — March 18th (UTC)
🏆 Stake Now: https://www.gate.io/launchpool/OM?pid=221
More: https://www.gate.io/announcements/article/43515
Gate Institute: Web3 industry policies and macro reports in February 2025
Preface
This report summarizes the industry policy dynamics and macro events overview of the Web3 industry in February 2025, focusing on many important events in the global economy and crypto market, covering aspects such as economic data releases, policy adjustments, and industry dynamics. From the U.S. government's announcement of imposing tariffs on Mexico and Canada, to Oklahoma state legislators proposing the Bitcoin Freedom Act, to 10 companies already approved to issue stablecoins in the EU under the MiCA regulatory framework, these events have profound implications for market participants and policymakers. This article will sort out and analyze these key events to help readers better understand the current economic situation and possible future directions.
Summary
Timeline
Focus Events
On February 1st, the U.S. government announced additional tariffs on Mexico and Canada, causing severe market volatility in the cryptocurrency market
On February 1, the U.S. government announced a 25% tariff on imported goods from Canada and Mexico. President Trump signed the tariff order that day, imposing an additional 25% tariff on imported products from Canada and Mexico, and a 10% tariff on energy resources from Canada. The tariffs are set to take effect on the 4th. The White House indicated that if retaliatory tariffs are imposed on U.S. tariffs, the U.S. may increase the tariff intensity. As a result of the tariff policy, BTC fell to around $97,000, the lowest level in over two weeks. The sell-off of altcoins was more severe, with DOGE dropping by about 14% during the trading session. The U.S.'s imposition of tariffs on Canada and Mexico has increased global economic uncertainty, potentially leading to escalated trade tensions, supply chain disruptions, and weakened market confidence, causing severe fluctuations in the global cryptocurrency market.
On March 2nd, the U.S. government reached an agreement with Mexico and Canada to immediately suspend the planned tariffs
President Trump said that the U.S. and Mexico have agreed to immediately suspend the imposition of tariffs for one month and continue negotiations. After Mexican President Claudia Shinbaum and Canadian Prime Minister Justin Trudeau made commitments to strengthen their respective border security with the U.S. (some of which they have already made), Trump suspended the tariff measures against these two neighboring countries. Trump wrote earlier on Monday on the Truth Social platform: "I just spoke with Mexican President Claudia Shinbaum. It was a very friendly conversation, and she agreed to immediately deploy 10,000 Mexican soldiers to the U.S.-Mexico border." After Trudeau announced the suspension of tariffs for 30 days, Trump also made a similar statement later that day on the Truth Social platform.
February 3rd - Oklahoma legislators introduce the Bitcoin Freedom Act for consideration at the 60th Legislative Session in the United States
Oklahoma State Representative Dustin Dives introduced SB325, the Bitcoin Freedom Act, for consideration at the 60th Legislative Session starting on February 3. The Bitcoin Freedom Act will allow employees in Oklahoma to choose to receive their wages in Bitcoin and permit businesses to accept Bitcoin payments. Divers stated, "With inflation eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to safeguard income and investments. As Bitcoin continues to appreciate while the value of the US dollar shrinks due to Washington's continuous printing of money, Oklahoma must take action to protect its people." SB325 ensures that participation is entirely voluntary, respects the principles of the free market, and empowers employees, employers, and businesses to choose the payment method that best suits them.
February 7th - U.S. Congress Focuses on Cryptocurrency Decentralization, FDIC Policy Shift Draws Attention
The House Financial Services Committee recently held a hearing to discuss the regulatory pressure on banks and crypto companies. Republican members accused the Biden administration of hindering innovation, while Democrats believed that strengthening regulation is based on risk considerations. Meanwhile, the Senate Banking Committee also discussed similar issues, indicating the clear differences in the U.S. political circles regarding crypto regulation.
In addition, the court has requested FDIC to expedite the disclosure of regulatory documents, and after Travis Hill, the newly appointed acting chairman of FDIC under the Trump administration, took office, the agency has released a large number of relevant documents, indicating a possible shift in regulatory policy. Senator Cynthia Lummis has also disclosed internal documents of the Federal Reserve, further strengthening the accusations against 'Operation Chokepoint.' These developments reflect changes in the US crypto regulatory environment, and future congressional hearings will continue to focus on the direction of industry development.
February 11 - U.S. one-year inflation expectations remained steady at 3% in January, while five-year inflation expectations rose from 2.7% to 3%
On February 11, the latest monthly survey released by the Federal Reserve Bank of New York showed that due to the Trump administration's impending announcement of tariff measures, U.S. inflation expectations for the one to three-year period in January remained steady at 3%, while the five-year inflation expectations rose from 2.7% to 3%, reaching the highest level since May last year. If inflation expectations continue to rise, the Fed may be more cautious about cutting interest rates. This could lead to a tightening of global liquidity, a stronger dollar, and pressure on emerging markets. The rise in inflation expectations may slow the pace of rate hikes, or be a bearish signal for the U.S. stock and cryptocurrency markets.
February 12 - US CPI rises to 3% for the first time since June last year
The latest Consumer Price Index data released by the U.S. Bureau of Labor Statistics on February 12 showed that consumer prices in January rose by 0.5% compared to December, the fastest increase since August 2023, with the annual inflation rate reaching 3% for the past 12 months ending in January. The rise in CPI may become one of the factors bearish for the market, casting doubt on whether the later interest rate cuts will be implemented. Due to investors' concerns about inflation reversal, the recent positive trend has changed. As a result, on February 12, the U.S. stock market opened with the Dow Jones Index falling by about 395 points, the S&P 500 Index dropping by 1%, and the Nasdaq Composite Index decreasing by 1.1%.
February 15th - Federal Reserve's Logan said that cooling inflation may not necessarily trigger a rate cut
On February 15, Dallas Fed President Logan said that interest rates may have approached a neutral level, and the need for further rate cuts may be avoided even if inflation continues to cool. Logan stated that in an environment of strong demand and a stable job market, inflation is falling towards the Fed's target, implying that the Fed's benchmark policy rate may be close to neutral. She added that if this situation continues, there would not be 'too much' room for rate cuts in the short term. Neutral interest rates refer to the level at which central bank policy settings neither stimulate nor hinder the economy. She said that if the labor market deteriorates, the Fed may lower interest rates. Policymakers kept rates unchanged at the meeting on January 28-29, after cutting the benchmark rate by a full percentage point in three times in 2024.
Logan's speech conveyed a signal that the Fed may pause its rate cuts, indicating that the market may not receive additional liquidity support in the short term. Therefore, global stock markets may face some pressure, especially for overvalued tech stocks and risky assets. In addition, considering the sensitivity of the crypto market to changes in macroeconomic policies, investors may adopt a more cautious attitude, leading to increased volatility in the cryptocurrency market.
February 18th - New York Fed manufacturing index for February in the United States came in at 5.7, expected -1, previous value -12.6
The release of the New York Fed's Manufacturing Index for February in the United States showed an actual value of 5.7, significantly higher than the previous -12.6 and the market's expected -1. This indicates a significant rebound in manufacturing activity in the state of New York, surpassing expectations and returning to the expansion zone (above zero). This data may suggest signs of economic recovery in the manufacturing sector, indicating a resurgence in demand or enhanced production activity. For the market, this could be a positive signal, indicating that the U.S. economy is maintaining growth momentum to some extent, especially in the manufacturing sector.
February 21st - 10 companies have been authorized to issue stablecoins in the EU under the MiCA regulatory framework
Circle's EU Director of Strategy and Policy, Patrick Hansen, stated in a post that under the MiCA regulatory framework, 10 companies have been authorized to issue stablecoins in the EU. The list includes Banking Circle, stablecoin issuer Circle, Crypto.Com, Fiat Republic, Membrane Finance, Quantoz Payments, Schuman Financial, Societe Generale, StabIR, and Stable Mint. He added that these 10 service providers have issued 10 stablecoins pegged to the euro and 5 stablecoins pegged to the US dollar. It is worth noting that Tether did not appear on the list.
This event marks the implementation stage of the EU's cryptocurrency regulatory framework, which may have a multidimensional impact on the industry. The access mechanism of this framework may prompt more projects to adjust their compliance strategies, while the demand for ancillary services such as on-chain auditing and asset custody may gradually increase. The potential size of the derivative market is estimated to reach billions of euros. As the world's first comprehensive cryptocurrency regulatory system to be fully implemented, MiCA's model may provide reference for other regions, but its actual effect still needs to be observed in terms of market acceptance and enforcement intensity. [9]
February 25th - U.S. Consumer Confidence Index Plummets in February
On February 25, local time in the United States, the latest data released by the Conference Board, also known as the Consultative Council of the United States, shows that consumer confidence index has dropped significantly, indicating increasing concerns among consumers about the outlook of the U.S. economy. The data shows that the consumer confidence index in February fell to 98.3, a decrease of 7 points from January's 105.3, not only lower than the market expectation of 102.3, but also the lowest level since June 2024, and the largest monthly decline since August 2021. This is the third consecutive month of decline for the index. If consumer confidence continues to decline, it may suppress consumer demand, thereby dragging down economic growth, necessitating close attention to subsequent policy adjustments and changes in economic data.
February 25 - South Dakota, USA rejects the Bitcoin financial reserve bill
The House Commerce and Energy Committee of the South Dakota House of Representatives shelved the HB 1202 bill on February 24th, which originally proposed allowing the state government to include Bitcoin in its financial reserve assets. Due to the 40-day statutory session of this legislative session, and the bill being postponed for consideration on the "41st day," this procedural decision is essentially equivalent to rejection. The proposal sparked heated debate, with supporters arguing that Bitcoin could serve as a hedge against inflation, while opponents expressed concerns that its price volatility could affect the state's financial stability.
South Dakota became the first state to reject a government holding plan in 2025, in stark contrast to recent approval of similar bills in Texas and Florida. This decision may impact conservative state governments such as Wyoming and Utah, which had originally planned to reference the bill, prompting them to re-evaluate political and financial risks. In addition, the potential demand for Bitcoin allocation of around $1.7 billion in state pension funds and trust accounts has been temporarily frozen, which may affect the market expansion of institutional-grade crypto custody businesses. This event highlights the divergence of local governments in the United States on cryptocurrency regulation, with technology-driven economies leaning towards open policies, while agricultural and energy-dominant states are more cautious.
February 26 - The Oklahoma Strategic Bitcoin Reserve Act (HB 1203) has been approved by the House Committee and entered the full voting stage
The House Finance Committee of Oklahoma voted on February 26, 2025 to pass the "Strategic Bitcoin Reserve Act" (HB 1203), which authorizes the State Fund to allocate up to 10% of its financial reserves to Bitcoin (BTC). The current proposal has been submitted to the full House for a vote, and if passed, it will take effect in the 2026 fiscal year. If the bill is ultimately passed, it will become the first state-level policy in the United States to allow large-scale government funds to be allocated to digital assets, potentially triggering a chain reaction: Firstly, a large amount of funds from Oklahoma's financial reserves will flow into the crypto market, directly increasing the institutional holdings of BTC; secondly, the legislative framework will serve as a reference template for other states, with Arizona already initiating similar proposal studies; thirdly, the bill requires digital assets to meet the standard of being listed on a "compliant exchange + top five by market value," which may drive platforms like gate to expedite their compliance processes.
Summary
In February 2025, the global economy and financial markets presented a complex and volatile situation. At the beginning of the month, the U.S. government announced tariffs on Mexico and Canada, causing a sharp fluctuation in the cryptocurrency market. Subsequently, the U.S. government reached an agreement with Mexico and Canada to immediately suspend the anticipated tariffs. In terms of economic indicators, the U.S. CPI rose to 3% for the first time since June last year, while the U.S. consumer confidence index in February dropped significantly, which may have a negative impact on the entire capital market. On the regulatory front, South Dakota rejected the Bitcoin Treasury Reserve Bill (HB 1202), while the Oklahoma House Finance Committee voted to pass the Strategic Bitcoin Reserve Bill (HB 1203). These events are intertwined, impacting not only short-term market performance but also providing important references for future economic policy formulation and market trends.
Reference:
gate Research Institute Gate Research Institute is a comprehensive blockchain and cryptocurrency research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Click link to go there immediately
Disclaimer Cryptocurrency market investment involves high risks. It is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.