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U.S. House leadership has announced that the week of July 14, 2025, will be designated as “Crypto Week,” during which the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act will be considered.

Amundi, a European asset management firm, warned that the U.S. GENIUS Act bill passed last month by the Senate would harm the global economy. The bill seeks to regulate U.S. dollar-pegged cryptocurrency tokens. The GENIUS Act ( Guiding and Establishing National Innovation for U.S. Stablecoins) views stablecoins as a means of payment rather than security, creating rules that put the issuer under scrutiny by state and federal regulators. Faryar Shizrad, the Chief Policy Officer at Coinbase, revealed last month that passing the GENIUS Act in the Senate is a step toward making the U.S. a world leader in digital assets and blockchain innovation. According to Jeremy Allaire, the founder and CEO of Circle , a stablecoin platform, the bill was supported by fifty Republicans and eighteen Democrats and now moves to the House of Representatives for approval before it is signed into law by President Donald Trump. Allaire believes the bill will drive the U.S. economy and national competitiveness in the future. Amundi Asset Management’s chief investment officer, Vincent Motier, raised concerns that the bill could be genius or evil. He added that the U.S. will benefit from the dollar-pegged stablecoins since they trigger the buying of U.S. Treasury bonds under the U.S. Act as the country struggles with budget deficits. Amundi believes this could create problems for the U.S. and other countries by creating an alternative for the USD and could further weaken the currency. In April, Giancarlo Giorgetti, Italy’s finance minister, warned that U.S. stablecoin policies have a bigger impact on European financial stability than the Trump trade war. He cited the potential of stablecoins undermining the euro’s dominance in cross-border payments and urged EU lawmakers to take steps to boost the euro’s position as an international currency. He added that the digital euro developed by the European Central Bank (ECB) will remove the need for Europeans to go for foreign solutions. Mortier worries that a mass adoption of stablecoins would impact the financial stability and noted the dollarization issue, citing that they would become “quasi-banks”. He believes people would deposit money in a coin, assuming that they can take it in and out whenever they wish and use it as a direct means of payment. Mark Hays, an associate director of crypto and fintech at the Americans for Financial Reform, believes the GENIUS Act is an important step, but it has its implications. The crypto industry and allies from the White House and Capitol Hill are using the bill to lobby for an uncontrolled experiment. Andrew Bailey, Governor of the Bank of England, has warned today against stablecoins, which he believes risk undermining the public’s trust in the financial systems. He urged central banks to look carefully into payment system innovations that may introduce new problems into the financial system. BOE Governor gave his speech at the Andrew Crockett Memorial Lecture, arguing that if stablecoins become the new form of payment, there has to be a decision that ensures the singleness of money, trust, and the role to be played by the reserve currency. He previously spoke on the threat of stablecoins, mainly due to their increased use, and put it on his agenda. He was made the new head of the Financial Stability Board, which monitors global finance. He believes the point of official reserves is preserving financial stability in the event of stress and supporting financial systems’ liquidity under challenging situations. World Liberty Financial, a crypto startup owned mainly by the Trump family, can gain if the bill is signed into law. The startup announced that it will issue a new stablecoin, USD1. Analysts believe that if the bill passes, the startup will become dominant in the crypto ecosystem. KEY Difference Wire helps crypto brands break through and dominate headlines fast

The US House of Representatives pushed through Trump’s massive legislative package early Thursday after nearly 24 hours of nonstop pressure, backroom deals, and public fighting. The final 218-214 vote locked in Trump’s biggest policy win since returning to the White House. The bill, more than 887 pages long, now heads to the Oval Office, where Trump plans to sign it on July 4, just before military jets fly overhead. According to reporting from Politico, Speaker Mike Johnson spent all Wednesday corralling votes from holdouts, holding meetings on the House floor, and gathering with different Republican factions at the White House to make sure the bill didn’t collapse. One preliminary vote was held open for over nine hours, something Democrats said set a new House record. Then Minority Leader Hakeem Jeffries used a second delay tactic, speaking for almost another nine hours, ripping apart the bill and slowing final action into the morning. The vote broke mostly along party lines. Only two Republicans, Brian Fitzpatrick from Pennsylvania and Thomas Massie from Kentucky, voted with Democrats. No one could say what the final holdouts, most of them from the House Freedom Caucus, got in return for voting yes. They were mad over changes made in the Senate, but GOP leaders made it clear the bill wasn’t going back for more edits. That would mean more delay. “We find out where the red lines are, and we try to navigate around them and get a product that everybody can buy into,” Mike said during a press briefing after the vote. Brendan Boyle, a Democrat from Pennsylvania, said from the floor, “I have no idea what in the world the crowd that was holding out got for holding out. Does anyone know? It is a complete mystery to me and to the American people.” The bill took over six months to build. Its main feature is an extension of the 2017 Tax Cuts and Jobs Act, the key tax law passed in Trump’s first term. But Republicans didn’t stop there. They packed the bill with defense spending increases, tougher immigration policies, and deep cuts to safety-net programs, all aimed at balancing out the $4 trillion in tax relief. Problems exploded after the Senate added steeper Medicaid cuts, faster rollbacks of wind and solar tax credits, and increased the deficit by hundreds of billions more than the original House bill. That split the party. Hardline conservatives didn’t like the spending, and moderates hated the Medicaid cuts. The bill cut Medicaid by roughly $1 trillion, and moderate Republicans from purple districts weren’t sure if the newly created $50 billion fund for rural hospitals would be enough to cover for it. At the Capitol, White House Budget Director Russ Vought met with the holdouts to calm them down. They talked about possible executive actions from Trump to follow the bill and soften the blow. But no written promises were made. Meanwhile, the Congressional Budget Office said the Senate bill, before its final edits, would increase the number of people without health insurance by around 11.8 million by 2034. That added fuel to Democratic attacks. Hakeem used his speech to call the legislation “one big, ugly bill,” accusing the Republicans of hiding the vote from the public. “I ask the question, if Republicans were so proud of this one big ugly bill, why did the debate begin at 3:28 a.m. in the morning?” he said, blasting them for trying to pass it “under the cover of darkness.” He slammed the Medicaid cuts, reading stories from real Americans who depend on the program. He also mocked Trump’s past promise to “love and cherish” Medicaid. “Nothing about this bill ‘loves and cherishes’ Medicaid. It guts Medicaid.” House Budget Chair Jodey Arrington, a Republican from Texas, said Thursday morning the bill would bring the “largest tax cut in US history.” He promised new job growth, higher wages, and capital returning to the US, even though most of the tax policies already exist under current law. Now that the House has passed the legislation, the only thing left is Trump’s signature. Mike told reporters it’ll probably happen on July 4 during Independence Day celebrations. “We’ll do that on July 4, potentially, maybe right before the B-2s fly. I mean you just can’t script this any better.” Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Swiss financial institution AMINA has become the first bank in the world to support Ripple USD (RLUSD). This initiative comes as stablecoins experience rapid growth and lawmakers move forward with efforts to oversee the asset class. In a press release dated July 3, the crypto-friendly bank revealed that it had officially become “the first bank globally to directly support Ripple USD.” AMINA announced that it will initially only provide custody and trading services for RLUSD. The bank’s offering will target institutional clients and professional investors seeking compliant stablecoin options. It also disclosed plans to expand its services in the coming months. “At AMINA Bank, we are committed to integrating cutting-edge products so that our clients may best navigate and adopt digital assets in their day-to-day activities,” said Myles Harrison, the company’s Chief Product Officer. Referring to RLUSD as “one of the most anticipated digital assets in the market,” Harrison highlighted Ripple’s focus on transparency and compliance. He said these qualities make the company a strong partner in AMINA’s ongoing efforts to expand institutional-grade digital asset services. Ripple’s stablecoin is backed by a segregated reserve of cash and cash equivalents, including U.S. Treasuries, and operates under the oversight of the New York Department of Financial Services (NYDFS). The token currently has a circulating supply of $430 million. The firm also recently revealed that it has applied for a U.S. banking license to enhance trust in its dollar-pegged crypto asset. If approved, the permit would place the company under federal oversight, adding another layer of regulatory security. This development comes amid growing demand from institutions for stablecoins that operate within a supervised framework. Lawmakers in the United States are advancing the GENIUS Act, which would establish national guidelines for stablecoin regulation. Earlier this year, the Swiss bank took steps to support stablecoin adoption by removing custody fees for its USD Coin (USDC) Rewards Account clients. The program applies to hot and cold wallets and offers a 0.2% quarterly interest rate to clients who maintain an average balance of 10,000 USDC or more. The financial institutions also later announced plans to roll out support for EURC, Circle’s euro-backed stablecoin. Customers using EURC can earn interest across both wallet types, following the same reward structure.

The first US Solana staking ETF has wrapped up its opening session with significant momentum. The new fund attracted $12 million in inflows and closed the day with $33 million in trading volume, according to Bloomberg ETF analyst Eric Balchunas. Trading under the ticker SSK on the Cboe BZX Exchange, the REX-Osprey Solana Staking ETF is the first of its kind in the United States, which provides direct exposure to spot Solana while allowing investors to capture staking yields. The product’s debut comes amid rising interest in crypto-related ETFs but was marked by a performance gap compared to the blockbuster first-day volumes seen with spot Bitcoin and Ether ETFs earlier this year. In the latest tweet, Balchunas also noted that SSK’s launch surpassed the volumes of Solana and XRP futures ETFs and even outpaced the typical ETF launch. Despite this, the fund remained significantly below the $4.6 billion first-day trading activity recorded by spot Bitcoin ETFs in January 2024. The ETF’s structure allowed it to move forward without the standard 19b-4 filing process, using the Investment Company Act of 1940. As Balchunas had previously explained , it achieved this by allocating at least 40% of its assets to other exchange-traded products, primarily outside the US. This approach followed prior regulatory pushback from the SEC, which initially raised concerns about the product’s qualification under securities laws. As such, Anchorage Digital is tasked with serving as the ETF’s staking and custodian partner. Bloomberg’s James Seyffart described the opening as a “healthy start,” and added that $8 million worth of shares traded hands within the first 20 minutes. The trading debut may help gauge institutional appetite for a potential spot Solana ETF in the country, which analysts believe could receive approval later this year. Balchunas and Seyffart have recently assessed a 95% probability for such approvals before year-end, which reflects optimism in the broader market despite the current subdued volumes in spot Bitcoin and Ether ETFs.