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After a 10-hour debate, the U.S. House of Representatives green-lit three major crypto bills (the GENIUS Act, CLARITY Act, and AntiâCBDC Act), clearing them for final voting. This progressâdriven by Speaker Mike Johnson and President Trumpâcould soon bring comprehensive regulatory frameworks for the crypto industry as Bitcoin hovers above $120KÂ .
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Bank of America CEO Brian Moynihan confirmed that the bank is actively developing a USDâpegged stablecoin, testing client demand and collaborating with other institutions. Morgan Stanley and Citigroup are also exploring similar initiatives, signaling a full-scale banking embrace of digital currencies .
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3. ChinaAMC Launches First RMBâDenominated Tokenised Money Fund
China Asset Managementâs Hong Kong branch unveiled the worldâs first tokenised money market fund denominated in Chinese yuan. This marks a tokenised shift in mainstream finance, complementing Hong Kongâs upcoming stablecoin regulations set for August 1Â .
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4. India Sees Record $150â200M Inflows Amid Bitcoin Rally
As Bitcoin nears all-time highs, Indian crypto exchangesâCoinDCX, Coinswitch, Mudrex, and Zebpayâhave recorded a surge of $150â200 million in net inflows over the past week. This highlights growing retail enthusiasm in one of the fastest-growing crypto markets .