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Top News:

1. GENIUS Act becomes law:

• President Trump signed the GENIUS Act on July 18, 2025 as the first federal framework for stablecoins, with reserve backing requirements, monthly audits, and anti‑money‑laundering regulation.

• Trump declared it the "breakthrough for American dominance of global finance and crypto technology," topping the so‑called "Crypto Week."

2. Crypto market cap surges past $4 trillion:

• The world crypto market exceeded $4 trillion with the passage of the GENIUS Act.

• Bitcoin reached an all‑time high at about $123k, Ether surged (+20% this week to $3,500 - 3,700) and most leading altcoins are in the black.

3. Three bills on crypto move forward:

• Two other acts, the Digital Asset Market Clarity Act and the Anti‑CBDC Surveillance State Act, were also passed by the House along with the GENIUS Act.

• They seek to characterize regulatory clarity and ban a Federal Reserve central bank digital currency (CBDC). All are currently sitting in wait on Senate action.

4. Large banks look to stablecoins:

• In the wake of the new stablecoin legislation, large U.S. banks such as Bank of America, Morgan Stanley, Citigroup, and JPMorgan are gearing up or exploring stablecoin issuance.

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