1. π¨π³ Shanghai Signals Softening on Stablecoins & Crypto
Shanghaiβs State Assets Commission is exploring policy measures to regulate stablecoins and cryptocurrenciesβa marked shift in Chinaβs previously strict antiβcrypto stance. Major firms like JD.com and Ant Group are pushing for yuanβpegged stablecoins and eyeing Hong Kong licenses under new regulations from August 1.
π 2. Bitcoin Hits New Record as Dollar Strengthens
Despite President Trump announcing fresh U.S. trade tariffs, Bitcoin surged to a fresh all-time high of $117,686, fueled by institutional demand. Ether climbed over 6% to $3,018βdemonstrating cryptoβs continued resilience amid macroeconomic uncertainty.
πͺπΊ 3. ESMA Flags Maltaβs Inconsistent MiCA Licensing
The EUβs ESMA has criticized Maltaβs crypto licensing under MiCA, saying five licenses issued since January lacked thorough oversightβparticularly concerning governance and risk assessment. This raises doubts about the frameworkβs credibility and cross-border enforcement.
ποΈ 4. U.S. House Plans βCrypto Weekβ for Industry Bills
U.S. House Republicans have designated next week as βCrypto Week,β aiming to pass three key industry-backed bills: the GENIUS Act (stablecoin oversight), CLARITY Act (SEC vs. CFTC jurisdiction), and the Anti-CBDC Surveillance State Act. While supporters promise innovation, advocates warn they may slack consumer safeguards.
