BlockBeats reported on August 25th that the Blockchain Association, a leading unified voice for the US crypto industry, announced it has submitted a comment letter supporting the stablecoin issuer rules under the GENIUS Act, jointly proposed by the US Treasury Department's Financial Crimes Enforcement Network, the Office of the Comptroller of the Currency, the Federal Reserve, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The Blockchain Association's core stance is clear: it supports limiting Customer Identification Program (CIP) obligations to transactions directly between primary market issuers and their customers, without extending these obligations to downstream secondary market activities. This means that everyday peer-to-peer transactions will not fall under the CIP compliance obligations of stablecoin issuers, ensuring anti-money laundering objectives while avoiding placing an excessive burden on the decentralized trading environment.

The Blockchain Association also called for clearer definitions of key terms such as "account," "customer," and "digital asset service provider," and suggested excluding one-off redemptions and activities unrelated to stablecoins. It also called for avoiding repetitive compliance requirements and clarifying that stablecoin issuers have flexibility in how they verify customer information. Regarding the effective date, the Blockchain Association recommended harmonizing the proposed CIP rules with the anti-money laundering rules separately implemented under the GENIUS Act.

According to BlockBeats, on August 25th, based on TradingBeats (formerly Hyperinsight) monitoring, the performance of the three major storage providers on Hyperliquid over the past 7 days is as follows: SKHX rose from $1180.3 to $1219.6, an increase of approximately 3.3%; during the same period, MU fell from $990.83 to $929.35, a decrease of approximately 6.2%; and SNDK fell from $1726.2 to $1526.1, a decrease of approximately 11.6%.

SKHX outperformed SNDK by approximately 14.9 percentage points during the same period, and the short-term leading stock in the storage sector has shifted from SNDK to SKHX.

The change began around August 18. The SNDK/SKHX ratio fell to a low of 1.027 on July 29, and then rose all the way to 1.475 on August 18, an increase of about 43.6%. The ratio has now fallen 15.2% from its peak, and the previously accumulated relative advantage has narrowed significantly.

Since the rebound in storage stocks nearly 30 days ago, SNDK remains the strongest performer among the three: SNDK has risen by about 5.1%, MU has fallen by about 0.9%, and SKHX has fallen by about 0.8%.

Micron is beginning to catch up with SanDisk. The MU/SNDK ratio has increased by about 6.1% in the past 7 days, but the MU/SKHX ratio has decreased by about 9.2% in the same period. The short-term strength order of the three memory stocks is SKHX, MU, and SNDK.

According to BlockBeats, on August 25th, based on Bitget data, the South Korean KOSPI index closed up 45.77 points, or 0.68%, at 6742.73. Samsung Electronics closed flat, while SK Hynix rose 0.42%.

The Nikkei 225 index closed up 328.34 points, or 0.50%, at 65,856.43.