1. Shanghai Signals Softening on Stablecoins & Crypto
Shanghai’s State Assets Commission is exploring policy measures to regulate stablecoins and cryptocurrencies—a marked shift in China’s previously strict anti‑crypto stance. Major firms like JD.com and Ant Group are pushing for yuan‑pegged stablecoins and eyeing Hong Kong licenses under new regulations from August 1.
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 $3,018—demonstrating crypto’s continued resilience amid macroeconomic uncertainty.
3. ESMA Flags Malta’s Inconsistent MiCA Licensing
The EU’s ESMA has criticized Malta’s crypto licensing under MiCA, saying five licenses issued since January lacked thorough oversight—particularly concerning governance and risk assessment. This raises doubts about the framework’s credibility and cross-border enforcement.
4. U.S. House Plans “Crypto Week” for Industry Bills
U.S. House Republicans have designated next week as “Crypto Week,” 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.
