Stablecoins dominated the crypto landscape as Stripe acquired Bridge to build stablecoin payment infrastructure, Hong Kong unveiled new rules for stablecoin licensing and tokenization, and the FATF warned that stablecoins now account for most illicit on-chain activity. Meanwhile, a hacker exploited the Resupply DeFi stablecoin protocol for $9.6 million, and Asia’s banks explored stablecoins to prevent deposit flight amid evolving regional and global regulatory frameworks.
The Financial Action Task Force (FATF), a global financial crime watchdog, has called on countries to take stronger measures against illicit finance in crypto assets. The FATF warned that regulatory gaps could have global repercussions and threaten financial stability, despite recent progress in anti-money laundering enforcement. The watchdog also noted that stablecoins now account for most illicit on-chain activity.
PayPal CEO Alex Chriss stated that stablecoins are not yet poised for widespread adoption in the United States, pointing to limited consumer incentives and the early-stage nature of current use cases as key obstacles.
Wirex has announced that its Wirex Pay Chain is now officially supported on Fireblocks, enabling institutional-grade stablecoin payments through the leading digital asset and payments infrastructure platform.
Swiss digital asset infrastructure provider Taurus SA has launched the first private smart contract for stablecoins, aiming to address privacy concerns that have limited adoption among financial institutions and businesses. The new contract is designed for use cases such as payroll, treasury, and intra-bank transfers, and is expected to boost practical adoption of stablecoins, particularly for clients with sensitive transfer needs. Taurus counts major banks like Deutsche Bank and State Street among its clients.
Bridge, a company recently acquired by private fintech giant Stripe for $1.1 billion, is developing infrastructure to support stablecoin payments, reflecting growing Wall Street interest in stablecoins and the potential for a major shift in global money movement.
Rain, a stablecoin-focused payments platform, has partnered with compliance provider Toku to introduce real-time stablecoin payroll services for employers in over 100 countries, enabling digital asset compensation for workers worldwide.
Asia's banks are considering the use of stablecoins as a measure to prevent deposit flight, according to the Asia Morning Briefing. This development comes amid ongoing analysis of market moves and top stories affecting the region during U.S. trading hours.
Hong Kong has released its second major policy statement on digital assets, known as "Policy Statement 2.0," aiming to accelerate its digital asset development and reinforce its position as a global financial innovation hub. The updated strategy introduces unified rules for the sector, emphasizes risk management and investor protection, and outlines plans for a regulatory regime covering stablecoin licensing and the tokenization of real-world assets. The statement also introduces the LEAP framework to support market growth and expands on the city's crypto licensing regime.
Former CFTC Chairman Rostin Behnam stated that regulations and guardrails are needed for the crypto industry, noting that while some lawmakers previously hesitated to legitimize crypto, passing bills would help provide necessary oversight. Behnam, now a Georgetown University fellow, discussed America's stablecoin framework, the GENIUS ACT, and the importance of crypto regulation in a recent interview.
Dinari, a startup specializing in blockchain-based U.S. stocks, has become the first platform to secure a broker-dealer registration for its subsidiary, allowing it to offer tokenized shares of publicly traded companies to domestic investors. Previously, platforms like Dinari could only provide tokenized equities such as Tesla and Apple to users outside the United States. The approval, reported by Reuters on June 26, enables Dinari to roll out its tokenized stock offerings across U.S. platforms.
David Sacks, crypto and AI advisor to President Donald Trump, stated that July will be a significant month for crypto legislation. Sacks praised the Senate's timeline and plan to advance bills that would divide oversight of digital assets between market regulators. He also indicated that President Trump supports legislation on market structure and stablecoins.
MicroStrategy, known for its significant Bitcoin holdings, is close to being included in the S&P 500 index. The company's inclusion depends on meeting the requirement of positive cumulative earnings over the last four quarters.
Cryptocurrency exchange Kraken has launched Krak, a peer-to-peer payments app enabling users to send and receive both cryptocurrency and fiat currency across more than 110 countries. The app, which supports over 300 currencies, is designed to facilitate instant, low-cost global transactions and offers competitive rewards, including up to 4.1% for holding the Global Dollar (USDG) and up to 10% for staking other digital assets. Krak aims to compete with established payment platforms such as PayPal, Venmo, and Cash App, addressing issues of speed, cost, and transparency in traditional financial systems.
Coinbase is introducing regulated perpetual-style crypto futures to the U.S. market, aiming to provide 24/7 leveraged trading and reduce reliance on offshore platforms. Coinbase Derivatives will begin trading two new contracts on July 21: the nano Bitcoin Perpetual-Style Futures at 0.01 BTC and the nano Ether Perpetual-Style Futures at 0.10 ETH.
Bernstein analysts have increased their price target for Coinbase Global Inc. (NASDAQ:COIN) from $310 to $510, citing accelerating growth in the company's derivatives business and non-trading revenue streams. The firm expects Coinbase to benefit from a stablecoin boom and sees no meaningful competition risk, reflecting increased confidence in Coinbase's position as a leading crypto financial services platform.
Shares of Guotai Junan International surged nearly 200% after the Hong Kong-listed, Chinese state-backed brokerage secured regulatory approval from the Hong Kong SFC to offer cryptocurrency trading services.
Two major partnerships this month—between Coinbase and Shopify, and Chainlink and Mastercard—have opened blockchain commerce to billions of consumers, driving crypto payments further into the mainstream.
Framework Ventures cofounder has accused Coinbase of "destroying" the retail crypto market, while BaseDrop—a project linked to rapper Waka Flocka Flame—has attracted scrutiny and raised eyebrows within the industry.
Circle shares rebounded after a 15% decline over two days following its IPO, while stablecoin issuer Circle's performance provided a boost to Coinbase, which saw its shares rally.
GF Securities has partnered with HashKey to issue tokenized securities, called 'GF Token,' denominated in USD, HKD, and offshore yuan in Hong Kong.
The real-world asset (RWA) tokenization market has expanded by 380% over the past three years, reaching $24 billion in June 2024, according to a joint report from RedStone, Gauntlet, and RWA.xyz. The report also projects that the on-chain market for tokenized RWAs could grow to as much as $30 trillion by 2034, reflecting increasing adoption of blockchain technology in traditional finance.
Jarsy has emerged from stealth mode, launching a platform that allows everyday investors to access pre-IPO companies by issuing tokens directly linked to those companies' private shares. The company has secured pre-seed funding from Breyer Capital.
Nvidia (NVDA) has surged to a new all-time high, becoming the most valuable company globally. However, in 2025, the previously observed correlation between NVDA stock performance and AI-related crypto tokens has weakened, with investor interest in AI tokens remaining subdued despite Nvidia's record gains.
World, formerly known as Worldcoin, has introduced Priority Blockspace for Humans (PBH) on its World Chain mainnet. This upgrade is designed to build a large network of verified human users, with the goal of reaching over one billion participants.
AI agent projects in the crypto sector have raised $1.39 billion so far this year, marking a 9.4% increase over the total funding in 2024, according to DappRadar. Onchain activity has also surged by 86%, and the number of AI crypto app users has nearly doubled.
Prediction platform Kalshi has completed a $185 million funding round led by crypto venture capital firm Paradigm, bringing the company's valuation to $2 billion. This follows recent developments in the prediction market sector, including activity from competitor Polymarket.
Crypto private key exploits and front-end protocol attacks have accounted for 80% of the $2.1 billion in cryptocurrency stolen so far in 2025, according to a report from TRM Labs.
A hacker has stolen $9.6 million from the decentralized finance (DeFi) stablecoin protocol Resupply. Security experts have advised users to avoid reUSD vaults and withdraw their funds if possible.
A vulnerability in ResupplyFi's smart contract allowed an attacker to manipulate the price of a key collateral token, targeting low liquidity markets to inflate the exchange rate and drain approximately $9.5 to $9.6 million from the protocol's wstUSR market.
South Korean police have dismantled a fake cryptocurrency exchange ring that processed $694.5 million in illegal transactions over six years, seizing $3.2 million worth of hidden Ethereum.
Binance has launched a global training program for law enforcement, dubbed 'crypto cops,' aimed at combating the rising wave of Web3-related crime. The initiative seeks to address approximately $3 billion in annual losses by providing sophisticated education to law enforcement agencies worldwide.
The California Department of Financial Protection and Innovation (DFPI) has fined Seattle-based Crypto ATM company Coinme, Inc. $300,000 for breaching the state's recently enacted Digital Financial Assets Law (DFAL).
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