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Ron Wyden called on Senate leaders to preserve BRCA protections for non-custodial blockchain developers in the CLARITY Act.
Wyden said the proposal clarifies developers are not money transmitters if they do not control customer assets.
The senator argued BRCA preserves law enforcement powers while providing greater legal certainty for blockchain developers.
Sen. Ron Wyden urged Senate leaders to keep the Blockchain Regulatory Certainty Act (BRCA) in any version of the Clarity Act brought to the Senate floor. Wyden sent the request to Senate Majority Leader John Thune and Senate Democratic Leader Chuck Schumer as lawmakers continue discussions over the bill, while questions remain about support from law enforcement groups and several Democratic senators.
Wyden Defends BRCA Language
In his letter, Wyden said Section 604, known as the Blockchain Regulatory Certainty Act, would preserve legal protections for non-custodial blockchain developers. According to Wyden, the provision would codify existing federal policy by clarifying that software developers should not become money transmitters simply for publishing software.
He said the protection applies only when developers do not control customer assets. Therefore, developers creating non-custodial tools would receive greater legal certainty under the proposal.
Wyden added that the language aligns the Bank Secrecy Act with the criminal code while reflecting existing guidance from the Financial Crimes Enforcement Network.
Debate Continues Over Senate Bill
The request comes as uncertainty remains over whether some law enforcement organizations will support the BRCA language.
According to the information provided, lawmakers are also weighing whether revisions could help secure votes from Democratic senators, including Catherine Cortez Masto and Mark Warner.
Wyden argued that removing the provision could affect software developers building decentralized finance applications in the United States. He also noted that he introduced the standalone BRCA legislation alongside Senator Cynthia Lummis as the Democratic co-sponsor.
Letter Stresses Law Enforcement Powers
Wyden said the proposal would not weaken anti-money laundering or counter-terrorism financing requirements. Instead, he wrote that the measure would preserve the authority of the Department of Justice and FinCEN to investigate criminal activity.
He also pointed to an exception within the proposal. According to Wyden, developers who transfer or use funds connected to illegal activity would not receive protection.
The senator said the approach would allow investigators to focus resources on unlicensed money-transmitting businesses and other criminal actors. He closed the letter by urging Thune and Schumer to retain the Blockchain Regulatory Certainty Act in any Senate version of the Clarity Act.
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Robinhood Chain will allocate 10% of protocol net revenue, with 8% going to the Arbitrum DAO treasury and 2% to development.
Robinhood Wallet now supports bridging assets from multiple blockchains and swapping tokens on Robinhood Chain.
The Ethereum Layer 2 network targets tokenized stocks, real-world assets, and decentralized finance services.
Robinhood Chain has introduced a revenue-sharing model that directs part of its fees to the Arbitrum ecosystem, according to Offchain Labs co-founder Steven Goldfeder. The update follows Robinhood Chain's recent launch in Robinhood Wallet, where users can bridge assets from multiple blockchain networks and swap tokens. Goldfeder said the structure will support the Arbitrum treasury and development funding as enterprise adoption grows.
Robinhood Chain Fees Flow To Arbitrum
According to Steven Goldfeder, every Arbitrum Layer 2 network, including Robinhood Chain, will contribute 10% of protocol net revenue. He said 8% will go to the tokenholder-controlled Arbitrum DAO treasury.
Meanwhile, the remaining 2% will fund ecosystem development. Goldfeder also said Arbitrum One follows a different model. According to him, 100% of fees collected on Arbitrum One flow directly into the Arbitrum treasury.
The Arbitrum DAO factsheet describes the revenue source as protocol net revenue. Therefore, the calculation applies after network costs rather than total user fees.
Robinhood Wallet Expands Chain Access
The revenue update comes as Robinhood Chain becomes available inside Robinhood Wallet. According to Wu Blockchain, users can bridge assets from Solana, Ethereum, Arbitrum, and other supported networks.
After bridging, users can swap assets directly within the wallet application. Earlier reports from crypto.news said Robinhood Chain operates as an Ethereum Layer 2 network built with Arbitrum technology.
The same reports said the network focuses on tokenized stocks, real-world assets, and decentralized finance services. During testing, the network processed more than four million transactions in its first week.
Revenue Model Supports Treasury And Development
According to the Arbitrum DAO factsheet, Robinhood Chain launched on July 1 as a dedicated Arbitrum chain settling to Ethereum.
The factsheet states that 10% of protocol net revenue returns under the Arbitrum Expansion Program license. It also confirms that 8% goes to the DAO treasury while 2% supports the Arbitrum Developer Guild.
Robinhood has positioned tokenized stocks as a core product on the network. The report also said eligible users across more than 120 countries can trade tokenized equities through Robinhood Wallet and supported decentralized exchanges.
Goldfeder said the revenue model allows Arbitrum to capture value as enterprise adoption of its Layer 2 technology continues to expand.
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Crypto adoption continues expanding as institutional participation grows despite ongoing uncertainty surrounding future U.S. regulatory direction and policy.
CZ said future political outcomes remain unpredictable, while broader blockchain adoption continues reshaping the industry's long-term trajectory globally.
Growing investor participation and public company involvement may reshape future crypto policy discussions across the United States political landscape.
Crypto Regulation Outlook remains a major discussion point after fresh comments addressed future U.S. policy uncertainty. Market participants continue monitoring regulation as digital asset adoption expands across investors and publicly listed companies.
CZ Addresses Future Political Uncertainty
Wu Blockchain shared remarks from Binance founder Changpeng Zhao following a CoinDesk interview. The discussion centered on possible future U.S. regulatory actions. Questions also focused on potential subpoenas under another administration.
https://twitter.com/WuBlockchain/status/2073710422839243113?s=20
CZ declined to predict future American political developments. He said political outcomes remain difficult to forecast accurately. That response avoided speculation regarding future enforcement decisions.
He also reflected on Binance's previous regulatory challenges. During that period, future policy direction appeared uncertain. He admitted later political developments surprised him.
His comments presented uncertainty as an ongoing market reality. Government priorities continue changing across election cycles. Crypto participants therefore remain attentive to policy developments.
Industry Adoption Expands Beyond Politics
The post shifted attention toward broader cryptocurrency adoption. CZ argued digital assets continue reaching wider audiences. More investors now participate across multiple market segments.
Publicly listed companies have also increased digital asset involvement. Corporate participation has expanded beyond early blockchain businesses. That development broadens cryptocurrency's economic footprint.
CZ suggested expanding participation could influence future political calculations. Larger investor communities create greater public interest in regulation. Policymakers increasingly engage with cryptocurrency-related issues.
Even so, he avoided predicting permanent policy support. Regulatory approaches may still change across administrations. Long-term adoption and political cycles therefore remain separate discussions.
Technology Growth Remains the Central Theme
The post also referenced CZ's comparison with artificial intelligence and the internet. He described cryptocurrency as another transformative technology. Adoption continues advancing despite regulatory uncertainty.
CZ stated blockchain technology has no practical "delete button." Decentralized networks continue operating across global markets. Development therefore extends beyond any single jurisdiction.
Innovation also continues through international participation. Developers, investors, and companies operate across multiple countries. Market activity remains geographically diversified as adoption grows.
The interview presented no forecast regarding future enforcement actions. Instead, it focused on cryptocurrency's broader development trajectory. Growing participation continues shaping the Crypto Regulation Outlook as digital assets become increasingly integrated into financial markets and corporate activity worldwide.
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The Blockchain Association said blockchain has helped activists and aid groups access funding in restrictive countries.
The group urged Congress to pass the CLARITY Act to provide clearer crypto regulations and support innovation.
The article argued open blockchain networks offer an alternative where governments restrict traditional financial systems.
The Blockchain Association highlighted a new article from leaders at the National Endowment for Democracy, arguing that blockchain technology has supported democratic movements in restrictive countries. According to the association, the article also urges Congress to pass the CLARITY Act, saying clearer crypto regulations would strengthen innovation while supporting financial access through decentralized networks.
Article Highlights Crypto Use Under Restrictions
According to the Blockchain Association, National Endowment for Democracy President Damon Wilson and former U.S. official Juan Zarate described how digital assets have helped communities operating under authoritarian governments.
The article cited examples from Venezuela, Afghanistan, Belarus, and Nigeria. It said activists, journalists, educators, and humanitarian workers continued receiving financial support after governments restricted banking services or controlled payment systems.
According to the authors, the National Endowment for Democracy uses dollar-backed stablecoins to distribute resources in remote and heavily restricted regions. They added that blockchain technology allows internet users to access financial services more quickly and securely than traditional payment networks.
Authors Call For Regulatory Clarity
Building on those examples, the authors argued that decentralized financial tools have become important where democratic freedoms face restrictions. They said authoritarian governments have used traditional financial infrastructure to freeze accounts, block payments, monitor transactions, and restrict access to financial services.
According to the Blockchain Association, open blockchain networks offer an alternative when centralized payment systems become unavailable. The organization said developers need predictable regulations to continue building blockchain applications in the United States.
The association therefore renewed its support for the CLARITY Act. It said the proposed legislation would provide regulatory certainty while preserving consumer protections and market integrity.
Focus Turns To Global Financial Competition
The Blockchain Association also said regulatory clarity would strengthen the United States' role in shaping digital finance. According to the organization, innovation and national security remain closely connected as financial technology evolves.
The article also stated that China, Russia, and other governments continue promoting central bank digital currencies. According to the authors, democratic nations should instead support financial systems built on openness, transparency, and clear regulatory frameworks while Congress considers the CLARITY Act.
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Tether burned $2.5 billion in Ethereum-based USDT, marking its largest single burn since February 2026.
Binance's Tron USDT balance dropped to about $806 million, its lowest level since December 29, 2025.
Analysts said the simultaneous supply shifts likely reflect treasury management and cross-chain liquidity rebalancing.
Tether burned $2.5 billion worth of USDT on the Ethereum network on July 7, its largest single burn since February 2026, according to CryptoQuant. On the same day, Binance's USDT balance on the Tron network dropped to about $806 million, its lowest level since December 29, 2025, drawing attention to simultaneous shifts in stablecoin liquidity.
Ethereum Burn Reaches Five-Month High
According to CryptoQuant, the July 7 transaction reduced Ethereum's circulating USDT supply by approximately 1.3%. The blockchain analytics firm said it was the largest single Ethereum burn recorded in roughly five months.
However, analysts noted that USDT burns usually reflect treasury management rather than permanent supply destruction. They explained that Tether commonly burns tokens during customer redemptions or while rebalancing supply across different blockchain networks.
Despite the burn, USDT continued trading near its one-dollar peg. That stability suggested the operation aligned with routine supply management rather than unusual market conditions.
Binance Tron Holdings Hit Multi-Month Low
At the same time, Binance's USDT balance on the Tron network declined below the $1 billion mark. According to CryptoQuant, the balance fell to approximately $806 million.
The latest figure represents Binance's lowest Tron-based USDT holdings since December 29, 2025. Tron has historically served as one of the primary settlement networks for USDT transfers and exchange activity.
CryptoQuant said the decline crossed a closely watched liquidity threshold. However, available blockchain data does not identify whether the reduction resulted from customer withdrawals, cross-chain transfers, or other treasury adjustments.
Analysts Track Cross-Chain Stablecoin Activity
According to CryptoQuant, the combination of a major Ethereum burn and shrinking Tron liquidity deserves close monitoring. The analytics firm highlighted that both events occurred on the same day.
Analysts added that large USDT burns typically accompany treasury operations and blockchain rebalancing. Nevertheless, they said the simultaneous reduction in Ethereum supply and Binance's Tron balance stands out because both movements occurred together during the same reporting period.
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The SEC will propose new rules covering crypto assets, exchanges, broker-dealers, custody, and tokenized securities.
Chairman Paul Atkins said the agenda aims to provide regulatory clarity while supporting innovation and investor protection.
The upcoming meeting begins the public rulemaking process before the SEC considers final crypto regulations later this year.
The U.S. Securities and Exchange Commission has outlined its 2026 regulatory agenda, confirming a crypto rulemaking meeting will take place this month. According to the SEC, the effort will introduce proposals covering crypto assets, exchanges, custody, and broker-dealer rules while seeking public input before final regulations move forward later this year.
Crypto Rules
According to the SEC, the upcoming proposals aim to clarify the regulatory framework for crypto assets. The agency said the rules will provide greater certainty for issuing, trading, and holding digital assets while maintaining investor protections.
The SEC also plans to review exchange regulations alongside broker-dealer requirements. Proposed amendments include changes to liquid capital standards, customer asset protections during insolvency, and recordkeeping rules where crypto assets are involved.
Meanwhile, the agency said the proposal seeks to establish clearer rules for tokenized securities and on-chain financial markets. It added that the framework should reduce uncertainty while continuing enforcement against parties violating securities laws.
Paul Atkins Details Agency Priorities
SEC Chairman Paul Atkins said the agency has made significant progress since the start of his tenure. According to Atkins, the Commission wants its regulatory framework to reflect technological changes across financial markets.
He said the SEC aims to support innovation by creating clearer rules for crypto fundraising, custody, and on-chain trading. Atkins also said the agency intends to advance President Donald Trump's goal of making the United States the global center for crypto innovation.
The agenda also includes proposals to simplify disclosure requirements for public companies. Additionally, the SEC plans to explore broader retail participation in private markets while maintaining investor safeguards.
Meeting Opens Public Rulemaking Process
According to the SEC, this month's meeting will begin the formal rulemaking process rather than finalize new regulations. Draft proposals will become available for public comment before the Commission considers final adoption.
The agenda also follows several policy changes under Atkins. Notably, the SEC has shifted toward developing tailored crypto regulations after previously relying heavily on enforcement actions during former Chairman Gary Gensler's tenure.
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Tether invested $20 million in Mercado Bitcoin to support payments, tokenization, lending, and on-chain capital markets.
Mercado Bitcoin serves 4.5 million users and has issued over R$2 billion in tokenized assets under regulated licenses.
The funding will accelerate Mercado Bitcoin's expansion across Brazil while supporting international growth and partnerships.
Tether has invested $20 million in Mercado Bitcoin through a strategic financing round, expanding its presence in Latin America's digital asset market. The announcement confirmed the funding will support Mercado Bitcoin's blockchain financial infrastructure across Brazil and international markets. According to Tether, the investment targets regulated on-chain financial services as demand for tokenization and stablecoin payments continues to grow.
https://twitter.com/coinbureau/status/2074483879612936468?s=20
Mercado Bitcoin Expands Regulated Financial Services
Mercado Bitcoin said the new capital will strengthen several parts of its business. The company plans to expand payments infrastructure, tokenized investment products, lending services, and on-chain capital markets.
Founded in 2013, Mercado Bitcoin has grown from a cryptocurrency exchange into a broader financial services platform. Today, it provides trading infrastructure, stablecoin payments, banking services, cross-border transactions, and tokenized investment products.
According to Tether, Mercado Bitcoin now serves 4.5 million users. The company has also issued more than R$2 billion, or about $388 million, in tokenized assets.
Its regulated operations include more than 10 licenses across Brazil and Europe. Those approvals include a Payment Institution license from Banco Central do Brasil, alongside broker-dealer, securitization, and asset management capabilities.
Executives Outline Investment Strategy
Tether Chief Executive Officer Paolo Ardoino said Mercado Bitcoin has developed a regulated on-chain financial platform serving millions of users. He added that Brazil remains one of the company's important markets for blockchain-based financial services.
Meanwhile, Mercado Bitcoin Chairman and Chief Executive Officer Roberto Dagnoni said blockchain finance has already moved beyond early adoption. According to Dagnoni, the latest financing will support expansion across Brazil while advancing international growth initiatives.
Funding Targets Growth Across Markets
The companies said the financing will also support strategic partnerships and additional international expansion. Furthermore, Mercado Bitcoin intends to increase lending capacity while expanding tokenized investment offerings for retail and institutional clients.
According to Tether, the investment aligns with its strategy of supporting companies building regulated blockchain financial infrastructure. The company added that it continues focusing on businesses combining regulatory approvals, technology, and large-scale financial services as tokenization and stablecoins expand across global markets.
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Judge Torres ruled Kalshi failed to show New York's gambling laws are preempted by the Commodity Exchange Act.
The court said Congress preserved state authority to regulate certain gambling-related activities alongside federal oversight.
The ruling moves the case to the motion-to-dismiss stage after rejecting Kalshi's preliminary injunction request.
Kalshi lost its bid for a preliminary injunction after Judge Analisa Torres ruled that New York's gambling laws governing the company's sports-event contracts are not preempted by the Commodity Exchange Act. The decision, issued in the Southern District of New York, allows the case to move toward the motion-to-dismiss stage, according to court filings highlighted by Daniel Wallach and journalist Eleanor Terrett.
Court Rejects Preemption Argument
Judge Torres ruled that Kalshi failed to demonstrate it was likely to succeed on the merits of its claim. The court said gambling regulation has historically fallen under state police powers. Therefore, the ruling applied a presumption against federal preemption in the dispute.
Judge Torres also found that the Commodity Exchange Act does not fully displace state authority. Instead, she wrote that Congress preserved room for states to regulate certain activities covered by federal law.
The ruling pointed to Section 2 of the Commodity Exchange Act. Although it grants the Commodity Futures Trading Commission exclusive jurisdiction in specific areas, it also preserves powers granted to state regulators.
Special Rule Played Key Role
The court also examined the Commodity Exchange Act's Special Rule governing event contracts. Judge Torres said the provision allows the CFTC to prohibit contracts involving unlawful activity or gaming when they conflict with state or federal law.
According to the ruling, that language demonstrates Congress intended state gambling laws to continue operating alongside federal regulation.
The decision also referenced earlier Maryland and Ohio rulings involving Kalshi. Those cases similarly concluded that state gambling laws remain relevant under the federal framework.
Case Moves To Next Stage
Kalshi also argued that complying with New York law would conflict with the CFTC's impartial access requirement. However, Judge Torres rejected that position. She said the requirement prevents discriminatory platform access but does not require exchanges to offer contracts nationwide.
The court further stated that Kalshi could obtain a New York license and create a separate category for state residents without violating federal rules.
According to Eleanor Terrett, the ruling allows the litigation to proceed to the motion-to-dismiss stage after the court declined to block enforcement of New York's gambling laws.
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The SEC is preparing a crypto safe harbor framework covering tokenized securities, DeFi, custody, and on-chain transactions.
Regulators will review proposed exemptions for ICOs, staking rewards, airdrops, and digital asset trading platforms.
The proposal may establish conditions for tokens to exit securities status once their networks become sufficiently decentralized.
The U.S. Securities and Exchange Commission plans to release a proposed crypto safe harbor framework for public comment as early as this month under its 2026 rulemaking agenda. According to SEC Chairman Paul Atkins, the proposal seeks to establish clearer regulatory pathways for tokenized securities, decentralized finance, and other on-chain activities while reducing enforcement uncertainty and maintaining investor protections.
Safe Harbor Proposal Takes Center Stage
According to the SEC, the proposal forms part of its broader effort to modernize financial regulations and support innovation in digital assets.
The agency said it intends to provide exemptions and safe harbors for certain blockchain-based financial activities. Those measures would establish legal pathways for crypto fundraising and other on-chain transactions.
The proposal also aims to address tokenized securities, decentralized finance applications, and digital asset custody. Additionally, the SEC plans to clarify how market participants can facilitate trading and custody while complying with federal regulations.
Chairman Paul Atkins said the agenda reflects efforts to encourage innovation while protecting investors and supporting capital formation.
Rulemaking Targets Key Crypto Activities
The SEC also scheduled an agency meeting this month to discuss several cryptocurrency rule proposals. According to the meeting agenda, regulators will review exemptions covering initial coin offerings, staking rewards, and airdrops.
The agency also plans to examine new requirements for crypto exchanges, broker-dealers, and alternative trading systems. In addition, officials will discuss institutional on-chain custody of digital assets.
The proposal would also establish regulatory conditions for trading tokenized real-world assets. Another item focuses on decentralized finance. Under the proposal, front-end developers would not register as broker-dealers if they do not execute transactions on the platforms they build.
Public Comment Process Follows Draft Release
Following the meeting, the SEC expects to publish draft rules for public comment before adopting final regulations later this year. The agency also plans to discuss how digital tokens could transition out of securities classification once their networks become sufficiently decentralized.
According to Atkins, the rulemaking agenda supports the administration's goal of expanding digital asset activity in the United States while preserving investor safeguards. The meeting also comes as Congress prepares to consider the CLARITY Act later this month.
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XRP and Solana saw inflows despite significant Bitcoin withdrawals, indicating regulated product allocation by institutions, at least in this instance.
Bitcoin ETFs lost $526.64 million while Ethereum posted modest outflows, showing different investor positioning across leading digital assets.
Seven-day ETF data showed sustained outflows before July 2 reversed sentiment with renewed inflows into regulated crypto investment products.
Crypto ETF Flows reflected changing institutional positioning last week as investors reduced Bitcoin and Ethereum exposure while directing fresh capital toward Solana and XRP investment products.
Bitcoin ETFs Lead Weekly Outflows
Cointelegraph reported contrasting movements across major spot cryptocurrency exchange-traded funds. Bitcoin recorded the largest weekly withdrawal among tracked products. Ethereum also finished the week with net outflows.
https://twitter.com/Cointelegraph/status/2073990429863723289?s=20
Spot Bitcoin ETFs lost approximately $526.64 million during the reporting period. Ethereum ETFs recorded smaller withdrawals totaling $13.67 million. The figures reflected different levels of investor activity.
Bitcoin accounted for the overwhelming majority of weekly capital exits. Ethereum experienced comparatively limited selling pressure. The contrast suggested differing portfolio adjustments between both assets.
The weekly distribution showed capital leaving established crypto investment vehicles. However, withdrawals remained concentrated in Bitcoin products. Ethereum displayed relatively stable institutional participation.
Solana and XRP Draw Fresh Capital
The report also noted positive flows into alternative cryptocurrency ETFs. Solana attracted approximately $5.75 million during the week. XRP led inflows with $17.19 million.
Combined inflows into Solana and XRP reached $22.94 million. Those gains remained well below combined Bitcoin and Ethereum outflows. Total ETF flows therefore stayed negative overall.
The weekly figures pointed toward selective capital rotation across regulated crypto products. Investors added exposure beyond Bitcoin and Ethereum. Alternative digital assets attracted measured institutional interest.
Product size also remained an important consideration. Bitcoin ETFs manage substantially larger assets than newer alternatives. Similar percentage reallocations therefore produce much larger dollar movements.
Seven-Day Chart Shows Improving Sentiment
The accompanying seven-day chart presented broader ETF flow trends. Six consecutive sessions recorded net outflows before conditions improved. July 2 delivered the only positive reading.
Source: Coinglass
June 25 marked the weakest trading session displayed. Net outflows reached approximately $738.62 million. That represented the largest daily withdrawal during the observed period.
Selling pressure gradually eased after the sharp June 25 decline. Daily withdrawals became progressively smaller across subsequent sessions. The pattern suggested reduced liquidation intensity before sentiment improved.
July 2 recorded approximately $260 million in net inflows. That recovery interrupted nearly one week of continuous outflows. Although weekly balances remained negative, the rebound showed renewed institutional participation as investors returned to regulated cryptocurrency investment products following sustained capital withdrawals.
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Sberbank aims to launch a crypto wallet and digital depository by December following Russia's expected Sept. 1 crypto law.
The wallet will initially be available through the Sberbank Online and SberInvestments apps after regulatory approval.
Sberbank is also considering offering access to foreign crypto exchanges under Russia's proposed licensing framework.
Russia's largest lender, Sberbank, plans to launch a cryptocurrency wallet and digital custody service by early December after the country's new crypto law is expected to take effect on Sept. 1, according to RBC. The rollout will initially reach users through the Sber and SberInvestments apps, while the bank also weighs becoming an intermediary for trading on foreign crypto exchanges under the final regulatory framework.
Sberbank Prepares Crypto Services
According to RBC, Kirill Tsarev, First Deputy Chairman of Sber's Management Board, said the bank will introduce a crypto wallet shortly after the legislation becomes effective. The wallet will first appear inside Sberbank Online and SberInvestments.
However, Tsarev said final launch dates depend on the publication of the completed legal framework. He also noted that updated Sber applications must become available through app stores. Meanwhile, Android users could receive the redesigned interface earlier.
Alongside the wallet, Sberbank plans to launch a digital depository. The platform will provide cryptocurrency storage and accounting services by Dec. 1.
Law Shapes Market Expansion
The planned launch follows proposed legislation regulating digital currency and digital rights. Previously, Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia, said the law is expected to take effect on Sept. 1.
The proposal establishes licensed companies that can provide custody, trading, digital-to-fiat exchange, and cross-border crypto settlement services.
Additionally, lawmakers proposed allowing Russians to trade through foreign cryptocurrency exchanges using licensed domestic intermediaries. Tsarev said Sberbank will consider offering that service after reviewing the final regulatory requirements.
Banks Prepare For New Framework
Other financial institutions also outlined crypto plans during the Bank of Russia Financial Congress. Moscow Exchange said it expects to introduce cryptocurrency operations before the end of 2026 after the legislation becomes effective.
Meanwhile, VTB and T-Bank Group announced plans to establish their own digital depositories once the law takes effect. According to the proposed framework, non-qualified investors will access domestic crypto trading after completing required testing and meeting investment limits.
Chistyukhin also said cryptocurrency transactions could begin in November 2026, while a transition period will continue until July 1, 2027. Criminal liability for regulatory violations is expected to begin from mid-2027.
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Bernstein said Bitcoin's 54% correction remains milder than previous bear markets, supporting its $150,000 year-end target.
The firm expects corporate Bitcoin treasuries and U.S. spot ETFs to attract about $10 billion in inflows during 2026.
Bernstein highlighted U.S. regulatory progress and tokenized real-world assets as key long-term Bitcoin market drivers.
Bernstein has maintained its $150,000 year-end Bitcoin target despite the cryptocurrency falling about 54% from its October 2025 peak near $125,000. According to analyst Gautam Chhugani, the correction remains significantly smaller than previous bear markets, while the research firm continues monitoring capital flows and broader market conditions for further recovery signs.
Bernstein Compares Current Cycle With Past Declines
According to Bernstein, Bitcoin's current correction has lasted about three quarters since reaching its October 2025 high. However, previous market downturns typically extended between 12 and 15 months.
The research firm noted that earlier cycles erased between 75% and 90% of Bitcoin's value before reaching a bottom. By comparison, the current decline remains considerably smaller.
Bernstein acknowledged the correction may not have ended. However, the firm said the reduced drawdown reflects structural changes within the Bitcoin market.
Institutional Demand Remains In Focus
The research note also addressed recent concerns surrounding institutional demand. Bernstein estimated corporate Bitcoin treasury companies and U.S. spot Bitcoin ETFs could attract about $10 billion of inflows during 2026.
That figure compares with roughly $60 billion recorded in 2025. However, the analysts argued recent sentiment has focused heavily on approximately $5.5 billion of ETF outflows from an asset base near $74 billion.
According to Bernstein, those withdrawals, combined with Bitcoin's price decline, amplified bearish sentiment despite stronger institutional participation than previous cycles.
The report also highlighted Strategy's purchases during 2026. The company has accumulated about 175,000 BTC, valued at roughly $14 billion, raising its holdings to 847,363 BTC.
Regulation And Tokenization Stay In Focus
Beyond price movements, Bernstein pointed to ongoing regulatory developments in the United States. According to the report, implementation efforts surrounding the GENIUS Act remain an important market development.
The firm also highlighted continued growth in tokenized real-world assets. According to Bernstein, these structural changes carry greater long-term importance than short-term market volatility.
Meanwhile, The Block's Director of News, Frank Chaparro, noted Bernstein considers its $150,000 year-end Bitcoin target ambitious following the recent market correction. Despite that assessment, the firm continues to maintain the forecast while watching for renewed strength in capital flows.
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Ripple obtained full MiCA CASP authorization, allowing regulated crypto payments, custody, and digital asset services across the EEA.
The license complements Ripple's Luxembourg EMI authorization, expanding both electronic money and crypto-asset operations.
Ripple now holds more than 75 regulatory licenses worldwide following its full MiCA authorization in Europe.
Ripple has secured full Crypto Asset Service Provider (CASP) authorization from Luxembourg's Commission de Surveillance du Secteur Financier, allowing regulated crypto services across the 30-country European Economic Area. The approval follows preliminary clearance granted in June 2026 and comes after the European Union's MiCA transition period ended on July 1, confirming Ripple's full compliance with the new regulatory framework.
CASP Approval Expands European Access
According to Ripple, the CASP license allows the company to offer regulated crypto payment services, custody, and related digital asset products throughout the European Economic Area under a single authorization.
The approval complements Ripple's existing Electronic Money Institution license in Luxembourg. Together, the two licenses support electronic money services alongside crypto-asset operations across the region.
Cassie Craddock, Ripple's Managing Director for the United Kingdom and Europe, said the authorization positions the company for the post-transition MiCA framework. She added that financial institutions across Europe continue seeking regulated digital asset providers.
MiCA Rules Enter Full Enforcement
The authorization follows the end of the European Union's MiCA transition period on July 1. Under the framework, crypto firms must obtain authorization or discontinue regulated services within the bloc.
According to the European Securities and Markets Authority, licensed companies can generally passport regulated crypto services throughout the European Economic Area. Meanwhile, national regulators remain responsible for supervising firms within their jurisdictions.
Not every crypto company completed the process before the deadline. Reports stated that some firms are still pursuing authorization through other European member states.
Ripple Expands Global Regulatory Portfolio
Ripple stated that it now holds more than 75 regulatory licenses worldwide following the CASP approval. The company said the new authorization places it among a limited number of digital asset firms with full MiCA authorization.
According to Ripple, its blockchain payments network has processed more than $100 billion across over 60 markets. The company added that its regulated payments infrastructure is now available to financial institutions, businesses, and corporate clients throughout the European Economic Area.
Matthew Osborne, Ripple's policy lead for the United Kingdom and Europe, previously described Luxembourg's regulatory framework as an important part of the company's European operations.
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Strategy sold 3,588 BTC between June 29 and July 5, raising about $216 million to fund Digital Credit dividend payments.
The sale reduced Strategy's Bitcoin holdings to 843,775 BTC while increasing its U.S. dollar reserves to about $2.55 billion.
Strategy reported an $8.32 billion quarterly Bitcoin loss as investors assessed its updated capital management framework.
Strategy sold 3,588 Bitcoin between June 29 and July 5, raising about $216 million to fund dividends tied to its Digital Credit securities, according to Michael Saylor and company filings. The transactions reduced the company's Bitcoin holdings to 843,775 BTC, marking its first major Bitcoin sale after an earlier symbolic disposal of 32 BTC.
Bitcoin Sale Funds Dividend Payments
According to Strategy, the company completed two separate Bitcoin sales during the reporting period. It sold 1,363 BTC between June 29 and June 30 for about $80.8 million. It later sold another 2,225 BTC between July 1 and July 5 for approximately $135.2 million.
Michael Saylor confirmed the proceeds funded dividend payments for STRF, STRE, STRK, and STRD. The company also used the funds to pay June's monthly STRC dividend. Meanwhile, Strategy reported that it made no Bitcoin purchases during the same period.
According to the filing, Strategy also refrained from selling shares through its at-the-market program. In addition, it did not repurchase any shares under its existing buyback programs.
Holdings Decline as Cash Reserves Increase
Following the transactions, Strategy held 843,775 BTC alongside approximately $2.55 billion in U.S. dollar reserves. Company data also showed the sale followed the introduction of its updated capital management framework.
That framework allows Strategy to issue shares or sell Bitcoin whenever needed to maintain sufficient cash for dividend obligations. Earlier reports had indicated concerns after the company's cash reserves declined during May.
Quarterly Filing Details Bitcoin Losses
Strategy also disclosed an $8.32 billion loss on its Bitcoin holdings for the quarter ended June 30. The figure included an $8.31 billion unrealized loss and a realized loss of about $900 million.
The filing stated that the carrying value of its Bitcoin holdings stood at $49.67 billion as of June 30. However, the assets' cost basis exceeded their fair value, requiring a valuation allowance against related deferred tax assets.
Meanwhile, market attention remained focused on the sale. According to Grayscale Head of Research Zach Pandl, the updated financing framework strengthened confidence in Strategy's funding structure. Separately, Santiment reported Bitcoin recovered after briefly falling below $61,500 following news of the sale.
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Zug, Switzerland, July 7th, 2026, Chainwire
Premium virtual assets pioneer BTCS (Middle East) Ltd. is now fully authorized by the Financial Services Regulatory Authority (FSRA) of ADGM, enabling regulated institutional services across the UAE.
Building on its position as Switzerland’s leading crypto financial services provider, Bitcoin Suisse is further accelerating its international expansion. Bitcoin Suisse Group’s subsidiary, BTCS (Middle East) Ltd. (“BTCS ME”) has received Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, marking another significant step toward the Group’s international growth strategy becoming a leading global wealth management partner.
The FSP marks the completion of a thorough, multi-stage licensing process and enables BTCS ME to deliver a comprehensive suite of regulated digital asset financial services to institutional and professional clients in the United Arab Emirates. Bitcoin Suisse brings more than a decade of experience across multiple digital asset market cycles to the UAE. The Group currently safeguards USD 3.7 billion in crypto assets and ranks as the fourth-largest staking operator globally.
With the FSP, clients benefit from the same foundations that have made Bitcoin Suisse a trusted partner to investors, institutions, and blockchain innovators for more than a decade. Across multiple market cycles, Bitcoin Suisse has built a reputation for resilience, combining a robust, proprietary infrastructure with a service philosophy centered on long-term client relationships.
Institutional and professional clients can access a regulated digital asset financial infrastructure designed for sophisticated needs, including managing and hedging digital asset exposure, in a fully compliant environment, institutional-grade custody, and trading approved virtual assets. All supported by a dedicated relationship manager, ensuring access not only to institutional-grade technology and regulatory clarity, but also to personal attention, continuity, and deep expertise. As the market evolves, BTCS ME is also positioned to support clients in accessing tokenized real-world assets in the future.
By combining regulatory strength, operational depth, and a highly personalized approach to client service, BTCS ME is designed to support clients through the next phase of institutional adoption.
Ceyda Majcen, Chief Executive Officer and SEO of BTCS ME, leads Bitcoin Suisse Group's expansion in the Middle East and brings extensive, long-standing senior leadership experience across the Group.
Receiving the FSP from the FSRA is a major milestone in our international growth strategy. The authorization reflects more than a decade of experience building resilient infrastructure, risk frameworks, and trusted client relationships. We are excited to bring our unique combination of institutional-grade capabilities and highly personalized service to the UAE, one of the world’s most dynamic hubs for digital assets.”
Arvind Ramamurthy, Chief Market Development Officer at ADGM, said “We congratulate Bitcoin Suisse on receiving its FSP from the FSRA. Its expansion into ADGM reinforces the strength and maturity of our digital assets' ecosystem, which continues to attract leading global institutions seeking regulatory clarity, market access and long-term growth opportunities. As Abu Dhabi further strengthens its position as a leading financial hub in the region, ADGM remains committed to enabling innovation within a robust, internationally recognized regulatory environment.”
About Bitcoin Suisse
Bitcoin Suisse is a leading premium digital assets financial services provider. Founded in 2013 by digital asset experts, it provides a cohesive suite of trading, custody, staking and lending services for institutional clients, digital asset foundations, family offices, asset managers and high-net-worth individuals. Bitcoin Suisse is headquartered in Zug with over 200 employees in Switzerland, Liechtenstein, the United Arab Emirates, and Bermuda. www.bitcoinsuisse.com
ContactLukas Mettler
Bitcoin Suisse
l.mettler@bitcoinsuisse.com
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CLARITY Act talks continue as ethics provisions remain the main obstacle before a possible Senate vote later in July.
NOBLE endorsed the Blockchain Regulatory Certainty Act, while MCSA withdrew its opposition and became neutral.
Senate negotiations continue as lawmakers debate ethics rules tied to President Trump's crypto business interests.
Negotiations over the CLARITY Act continued this week after the White House missed its July 4 signing target, leaving ethics provisions as the largest unresolved issue. According to Crypto In America, lawmakers and administration officials remain in discussions while new positions from major law enforcement groups have added another development before Congress returns from recess on July 13.
Law Enforcement Groups Adjust Positions
According to Crypto In America, the National Organization of Black Law Enforcement Executives (NOBLE) endorsed the CLARITY Act and became the first major law enforcement organization to support the Blockchain Regulatory Certainty Act provision.
NOBLE said the measure does not change existing federal criminal authorities used in investigations, including laws covering money laundering and unlicensed money transmission.
Meanwhile, the Major County Sheriffs of America (MCSA) withdrew its earlier opposition and adopted a neutral position. The organization said recent discussions with administration officials created opportunities to strengthen the legislation while supporting state and local law enforcement.
However, some industry participants expressed concern that negotiations could alter the Blockchain Regulatory Certainty Act language to secure broader law enforcement support.
Ethics Debate Remains Unresolved
Attention has also remained on ethics provisions following President Donald Trump's financial disclosure. The filing reported more than $1 billion in crypto-related income during the past year, including over $600 million tied to the TRUMP memecoin.
Senator Kirsten Gillibrand renewed her proposal to prohibit the president, members of Congress, and their spouses from issuing or sponsoring digital assets.
BitGo Chief Executive Officer Mike Belshe responded that ethics rules should apply across all asset classes rather than focus only on cryptocurrencies.
Senate Talks Continue During Recess
Meanwhile, Senators Ruben Gallego and Angela Alsobrooks maintained their calls for stronger ethics provisions before supporting the legislation on the Senate floor.
Gallego said he would continue efforts targeting President Trump's crypto business activities. Alsobrooks also said an ethics agreement remains necessary before further Senate action.
According to Crypto In America, negotiations will continue while Congress remains in recess. If lawmakers resolve the remaining issues, Senate leadership could bring the CLARITY Act to the floor during the week of July 20.
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TAO continues holding above its higher low structure, while momentum indicators signal weakening selling pressure across daily timeframes.
Derivatives markets remain active, with open interest and futures participation suggesting sustained trader engagement.
The $225 resistance level remains the primary technical threshold determining TAO's next directional move.
TAO continues to exhibit early signs of stabilization after an extended correction, as improving momentum indicators and resilient derivatives activity draw increased attention to a potential trend transition.
TAO Defends Higher Lows as Selling Pressure Eases
Market participants have focused on TAO's ability to maintain support above recent lows. The asset established a higher low near the $195 region after finding support around $180 in June. This price structure often represents the initial stage of broader market stabilization.
According to market observations shared by analysts on social media platform X, the current setup reflects early seller exhaustion rather than confirmed bullish momentum. The prevailing downtrend structure remains intact. However, downside pressure appears to be moderating.
The daily chart shows TAO consolidating around key support levels after several months of weakness. Rather than extending lower, price action has begun forming a more stable trading range. This development has attracted increased technical attention.
This is supported by the momentum indicators. The MACD histogram has just made its first move positive since mid-June. Such shifts frequently occur before broader trend changes become visible through price action alone.
Momentum Indicators Suggest a Potential Structural Shift
The Relative Strength Index has also improved following its approach toward oversold territory. TAO's RSI climbed back above its moving average, signaling reduced bearish momentum. Market technicians often monitor such transitions closely.
Source: X
A recent analysis published by analyst 2xnmore argued that reversals rarely announce themselves clearly. Instead, they often emerge through subtle changes in market structure. Current price behavior appears consistent with that framework.
The most critical resistance level remains near $225. This area represents the sequence of lower highs that has controlled TAO's decline. A successful reclaim could invalidate the existing bearish structure.
Conversely, failure to maintain support near $195 could increase downside pressure. Such a scenario would likely return market attention toward the June lows. Therefore, traders continue monitoring both thresholds closely.
Derivatives Markets Signal Continued Trader Participation
TAO's derivatives market structure presents another important dimension of analysis. Exchange open interest remains concentrated across several major platforms. This distribution suggests that leveraged market participation remains active.
Source: Coinglass
Open interest data shows substantial capital allocation across leading exchanges. Markets approaching full capitulation often experience sharp declines in positioning activity. Current figures indicate that traders remain engaged.
Trading volume statistics reinforce this observation. Binance continues dominating TAO futures activity, while secondary exchanges maintain meaningful participation levels. This concentration reflects sustained market liquidity despite recent price weakness.
Futures trade count data also points toward active market repositioning rather than broad liquidation. Participants appear to be preparing for a decisive directional move. At the time of writing, TAO traded at approximately $210.43, with daily trading volume reaching $94.33 million and a seven-day gain of 1.62%.
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DOGE price reclaimed a key neckline after a V-shaped recovery, keeping buyers in control above former resistance levels.
Price is still above major moving averages and volume is showing signs of a solid recovery, albeit without strong speculative buying pressure.
To maintain the momentum, bulls will need to hold above $0.0760 and $0.0780 will provide another resistance level.
DOGE price regained bullish momentum after reclaiming a critical technical level. Now market participants keep an eye on whether this recovery can be sustained, and buying activity can keep going up against higher resistance.
V-Shaped Recovery Changes Market Structure
Alpha Crypto Signal shared that Dogecoin completed a textbook V-shaped recovery. The chart showed buyers reversing weeks of persistent selling pressure. That recovery shifted short-term sentiment toward a more constructive outlook.
Source: X
The recovery accelerated after price pierced a descending trendline. That barrier had rejected every previous rebound attempt during the decline. Breaking above it marked an important technical transition.
The analyst noted that DOGE reclaimed its neckline after the breakout. That reclaimed level now serves as the primary support zone. Buyers continue defending this area following the recent advance.
The market structure now reflects higher highs and higher lows. Those formations typically indicate improving buyer participation during recoveries. Even so, maintaining support remains essential for continuation.
Moving Averages Support Bullish Momentum
The chart also showed DOGE trading above major moving averages. That positioning reinforced the recent breakout across short-term timeframes. Technical traders often view this alignment positively.
The shorter moving average has started turning upward again. That change suggests bearish momentum continues fading after recent weakness. Price action also remains comfortably above dynamic support levels.
Alpha Crypto Signal stated that holding the reclaimed neckline preserves bullish conditions. A measured retest could strengthen confidence in the breakout. Traders frequently monitor such pullbacks before fresh advances.
Volume also supported the recent recovery despite remaining relatively moderate. Buying activity increased after the market reached its local bottom. However, participation has not yet reached speculative extremes.
Resistance Levels Remain the Next Test
CoinMarketCap's 24-hour chart presented a steady intraday advance for Dogecoin. DOGE price traded around $0.0767 during the reported session. The token gained roughly two percent across 24-four hours.
Source: Coinmarketcap
The rally carried price toward the $0.0780 region before easing. That area now represents immediate resistance for the market. Profit-taking followed after buyers tested that level.
Support currently sits between $0.0760 and $0.0762 on the chart. The earlier trading base near $0.0750 remains stronger support underneath. Losing those levels would weaken recent bullish momentum.
The market capitalization was at about $11.88 billion for the period under report. The V/M ratio was around 6.24%, indicating that the trading volume is healthy. Current participation supports the recovery without signaling excessive market enthusiasm.
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Michael Saylor said Bitcoin will evolve through adoption and financial infrastructure, not frequent protocol changes.
He believes institutional capital flows now influence Bitcoin more than the traditional four-year halving cycle.
Saylor expects growth in Bitcoin-backed credit, ETFs, custody, and energy-linked mining infrastructure.
Strategy Executive Chairman Michael Saylor outlined his long-term outlook for Bitcoin, arguing that the network will evolve through broader financial adoption rather than frequent protocol upgrades. In a detailed statement released this week, Saylor said Bitcoin's base layer will remain stable while capital markets, digital credit, and institutional participation expand around it.
Base Layer Stays Stable As Adoption Grows
According to Saylor, Bitcoin functions as a monetary network instead of a technology platform competing through constant feature releases. He said the protocol's primary role remains high-value settlement, treasury reserves, collateral transfers, and final ownership transactions.
Meanwhile, Saylor said consumer payments, lending, banking services, stable-value products, and yield-generating applications will develop around Bitcoin instead of changing its foundation. He added that innovation will continue through wallets, Lightning, custody solutions, sidechains, and layered protocols.
Saylor also argued that protocol changes should remain rare. He said broad consensus should continue guiding upgrades to protect decentralization and Bitcoin's monetary integrity.
Capital Flows Replace Traditional Cycle Focus
Building on that view, Michael Saylor said Bitcoin's four-year halving cycle now plays a smaller role than institutional capital flows. According to him, exchange-traded funds, corporate treasuries, sovereign reserves, banks, insurers, derivatives, and structured credit increasingly shape Bitcoin's market.
He described Bitcoin as digital capital, while identifying digital credit as the mechanism connecting the asset with the broader financial system. According to Saylor, Bitcoin-backed financial products allow capital to move across global markets without changing the underlying protocol.
Institutions And Infrastructure Expand
Saylor also discussed the growing importance of financial infrastructure surrounding Bitcoin. He said investors may access the asset through self-custody, exchange-traded funds, banks, companies, or Bitcoin-backed credit products.
However, he identified several risks that could affect the surrounding ecosystem. These include custodial concentration, excessive leverage, paper Bitcoin, regulatory oversight, and fee-market development as mining rewards decline.
Additionally, Saylor said Bitcoin mining will become more closely linked with energy infrastructure and capital markets. He expects mining companies to compete through power agreements, treasury management, and grid relationships rather than hardware alone over the coming decade.
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UBS completed its first live tokenized fund workflow using Chainlink technology for onchain fund operations.
Fidelity, WisdomTree, Amundi, and other asset managers adopted Chainlink services for tokenized fund infrastructure.
Chainlink now supports institutional workflows including settlement, compliance, interoperability, and NAV reporting.
Chainlink has expanded its role in tokenized fund infrastructure through new integrations with global asset managers and financial institutions, according to the company. Recent announcements highlight production deployments involving UBS, Fidelity International, WisdomTree, Amundi, Sygnum, and DigiFT as institutions adopt blockchain-based fund operations using Chainlink's technical standards.
UBS Completes Live Tokenized Fund Workflow
According to Chainlink, UBS completed its first live end-to-end tokenized fund transaction using the Digital Transfer Agent (DTA) technical standard. UBS worked with its in-house tokenization unit, UBS Tokenize, and DigiFT to process onchain subscription and redemption requests.
The workflow covered order processing, settlement, execution, and data synchronization between blockchain and traditional financial systems. Additionally, Chainlink said the system used its Runtime Environment, Cross-Chain Interoperability Protocol, Automated Compliance Engine, and NAVLink services.
Earlier, Chainlink also announced a pilot with Swift messaging infrastructure. The project demonstrated how financial institutions can initiate tokenized fund workflows through existing banking systems without replacing current infrastructure.
Asset Managers Expand Onchain Operations
Meanwhile, several global asset managers have adopted additional Chainlink services. Fidelity International partnered with Sygnum to publish net asset value data onchain for its Institutional Liquidity Fund on the zkSync blockchain.
WisdomTree also integrated Chainlink to publish NAV data for its tokenized private credit fund on Ethereum. According to the company, the integration supports automated subscriptions, redemptions, and smart contract applications.
Amundi and Spiko also launched the Spiko Amundi Overnight Swap Fund using Chainlink technology. The firms said the platform provides automated NAV reporting and secure cross-chain interoperability.
Analyst Highlights Institutional Adoption
Commenting on the developments, analyst Dami-DeFi said major financial institutions are increasingly adopting Chainlink for production-ready tokenized fund infrastructure.
https://twitter.com/DamiDefi/status/2073776161738588285?s=20
The analyst also noted that Chainlink recently connected more than 47 banks for instant foreign exchange settlement. According to Dami-DeFi, institutions are using the network for fund operations rather than focusing only on token issuance.
The recent deployments span subscriptions, compliance, settlement, interoperability, and NAV reporting, reflecting broader institutional use of blockchain infrastructure across multiple asset management firms.
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