Crypto Weekly: New Laws, ETF Surge, and Market Moves

Crypto Weekly Roundup: Major Legal Moves, BlackRock ETF Surge, and the Rising Tide of Political Uncertainty

The global cryptocurrency market experienced measured turbulence this week as regulatory advancements, institutional adoption, and dormant whale activity reshaped the landscape for digital assets. As of this morning, the total crypto market capitalization stands at $3.32 trillion, reflecting a modest 0.80% decline in the past 24 hours, according to CoinGecko.

From BlackRock’s record-breaking Bitcoin ETF growth to Ripple’s push for a U.S. banking license and whispers of Elon Musk’s political ambitions, here are the stories that defined crypto this week.

“Big Beautiful Bill” Signed, Sparks Political and Crypto Debate

In Washington, President Trump signed the “Big Beautiful Bill,” a sweeping piece of legislation aimed at stimulating the economy through tax reductions, zero taxation on tips, and increased defense and border security funding. While the bill is expected to boost investor confidence, particularly within the crypto community, it has also drawn criticism for adding an estimated $3.3 trillion to the federal deficit.

Rumors began circulating shortly after the bill’s signing that Elon Musk, disillusioned by what he termed a “disgusting abomination” of spending excess, is exploring the formation of a new political entity tentatively named the “America Party.” Market observers note that Musk’s potential entry into politics, known for his public support of Bitcoin and Dogecoin, could bring a pro-digital asset policy shift into the mainstream, impacting future regulatory frameworks for the crypto industry.

BlackRock’s Bitcoin ETF IBIT Surges to Become Third-Largest Fund

In a landmark development for institutional crypto adoption, BlackRock’s Bitcoin ETF, IBIT, has reached $76 billion in assets under management, making it the company’s third-largest exchange-traded fund and one of the fastest-growing funds in BlackRock’s history.

Currently holding 696,874 BTC in custody, IBIT is only $9 billion short of BlackRock’s top ETF, underscoring the rapidly growing institutional demand for Bitcoin exposure with the security and familiarity of a traditional financial product. Analysts note that the low fees and regulatory clarity surrounding IBIT have been key factors in its success, reinforcing Bitcoin’s role as a maturing asset class within the broader financial ecosystem.

U.S. House Declares July 14–20 as “Crypto Week” for Key Legislation

In a significant step toward regulatory clarity, the U.S. House of Representatives has declared July 14–20 as “Crypto Week,” during which lawmakers will vote on pivotal bills affecting the digital asset landscape. The legislation includes the CLARITY Act, which seeks to establish clear guidelines for digital asset classifications, the GENIUS Act to support stablecoin innovation, and the Anti-CBDC bill aimed at preventing the rollout of a federal digital dollar.

If passed, these bills could significantly enhance investor confidence and establish the United States as a leader in crypto innovation while addressing concerns related to consumer protection and systemic stability in the burgeoning sector.

Dormant Bitcoin Wallet Moves $1.09 Billion After 14 Years

A dormant Bitcoin wallet, inactive since 2011, executed a transaction moving 10,000 BTC valued at approximately $1.09 billion, according to blockchain analysis firms. The single transaction, completed on July 5, transferred the funds to a new address, sparking speculation about a potential link to Bitcoin’s elusive creator, Satoshi Nakamoto.

While the transaction fueled concerns of a potential market impact, experts have emphasized that the coins have not yet reached exchanges, suggesting that an immediate sell-off may not be imminent. Nevertheless, the event serves as a reminder of the significant influence that dormant whale movements can have on market sentiment.

Trump’s Vietnam Trade Deal Reshapes Asian Trade Dynamics

In a move to strengthen domestic manufacturing and counteract indirect Chinese trade routes, former President Trump finalized a new trade agreement with Vietnam, imposing a 20% tariff on Vietnamese imports and a 40% tariff on diverted exports entering the U.S. market. In exchange, Vietnam agreed to a zero-tariff policy on American imports.

The agreement is expected to realign trade flows in the Asia-Pacific region while creating domestic manufacturing opportunities in the United States. With the July 9 bilateral meeting approaching, the crypto community is closely monitoring potential secondary impacts on supply chains for mining hardware and blockchain infrastructure.

Ripple Pursues National Banking Charter and Fed Account

Ripple has filed for a U.S. national banking charter and a Federal Reserve master account in a bid to strengthen its upcoming stablecoin, RLUSD. If approved, Ripple’s stablecoin would gain a considerable advantage over competitors like USDT and USDC by providing enhanced security and direct access to the U.S. financial system.

Ripple’s move aligns with its strategy to position RLUSD as a preferred stablecoin in a regulatory environment increasingly demanding transparency and compliance. The application follows Ripple’s recent settlement developments with the SEC and its efforts to integrate with the U.S. financial system to facilitate wider adoption.

CoinSwitch Unlocks Access to 100,000+ Web3 Tokens for Indian Users

In a major step toward mainstream crypto adoption in India, CoinSwitch has launched a new Web3 Coin feature that allows users to trade over 100,000 decentralized tokens directly in Indian Rupees (INR) without requiring gas fees or external wallets. The service integrates decentralized finance (DeFi) investment opportunities with a regulated, user-friendly platform.

The system, supported by CoinSwitch’s TRACE safety mechanism, ensures secure and thoroughly researched token listings, enabling Indian investors to access the broader DeFi ecosystem with confidence.

Circle Applies for U.S. National Trust Bank Status

Following its successful $18 billion IPO, Circle, the issuer of the USDC stablecoin, has applied for a national trust bank license in the United States. If approved, Circle will operate its USDC reserves under a bank charter, enabling it to provide digital asset custody and related services to institutional clients while maintaining regulatory compliance.

The move positions Circle to align with emerging U.S. regulations under proposed legislation such as the GENIUS Act, while potentially redefining the relationship between stablecoins and the traditional financial system.

Satoshi-Era Bitcoin Activity: 80,000 BTC Stirs Market Speculation

In another major development, over 80,000 Bitcoins, originally valued under $320,000 when acquired in 2011, reactivated after 14 years, now worth around $8.69 billion. On July 5, four wallets transferred 40,000 BTC in a single day, leading to heightened speculation about the potential motives behind these movements.

While some speculate a link to Satoshi-era holders, blockchain analysts have confirmed that the coins have not reached exchanges, reducing immediate concerns of market flooding. Nonetheless, the reactivation of such significant volumes has added a layer of uncertainty to an already cautious market.

Elon Musk’s Political Aspirations Spark Crypto Optimism

Reports suggest that Elon Musk is actively exploring the creation of a new political party, the “America Party,” following his public rejection of Trump’s “Big Beautiful Bill.” Musk, who has historically advocated for cryptocurrency adoption and decentralization, is expected to champion pro-crypto policies if he enters the political arena.

Political analysts argue that Musk’s potential candidacy could inject momentum into crypto policy discussions in Washington, potentially influencing the trajectory of regulations surrounding digital assets and decentralization efforts in the U.S. economy.

Conclusion: Crypto’s Integration into Global Finance Accelerates

This week’s crypto developments underscore the deepening ties between digital assets and global financial and political structures. Institutional investment continues to pour into Bitcoin through BlackRock’s ETF, regulatory clarity is advancing in the United States, and stablecoins are making inroads into mainstream financial systems. Meanwhile, geopolitical maneuvers and significant whale movements continue to test market resilience.

As crypto transitions from speculative asset to integrated financial infrastructure, investors, policymakers, and industry leaders will need to remain agile in responding to evolving opportunities and risks within the digital asset ecosystem.

The path ahead for cryptocurrencies is increasingly intertwined with institutional finance and regulatory frameworks, promising a dynamic, yet uncertain, future for digital assets in the global economy.

Source: https://www.coingabbar.com/en/crypto-currency-news/crypto-news-weekly-big-updates-on-laws-etfs-market-trends

Writer @Ellena

Ellena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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