Regulatory Moves: The U.S. Senate advanced the GENIUS Act, a first-of-its-kind bill to regulate stablecoins, despite initial Democratic opposition due to ties between the crypto industry and the Trump family. The Supreme Court of India questioned the government on the lack of crypto trading regulations, highlighting volatility concerns.
- Institutional Developments: Crypto platform FalconX partnered with Standard Chartered to serve institutional investors, leveraging banking services for fiat settlements. The global crypto market cap hit $3.37 trillion, with Bitcoin holding above $103,000.