Cryptocurrencies

US regulators offer clarity on spot crypto products

The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced a joint effort to clarify spot cryptocurrency trading. Regulators confirmed that US and foreign exchanges can list spot crypto products- leveraged and margin ones.

The guidance follows the President’s Working Group on Digital Asset Markets recommendations, which called for rules that keep blockchain innovation within the country.

Regulators said they are ready to review filings, address custody and clearing, and ensure spot markets meet transparency and investor protection standards.

Under the new approach, major venues such as the New York Stock Exchange, Nasdaq, CME Group and Cboe Global Markets could seek to list spot crypto assets. Foreign boards of trade recognised by the CFTC may also be eligible.

The move highlights a policy shift under President Donald Trump’s administration, with Congress and the White House pressing for greater regulatory clarity.

In July, the House of Representatives passed the CLARITY Act, a bill on crypto market structure now before the Senate. The moves and the regulators’ statement mark a key step in aligning US digital assets with established financial rules.

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Bitcoin holdings in El Salvador spread across new addresses

El Salvador, the first country to adopt bitcoin as legal tender, has restructured its national bitcoin holdings to strengthen security against potential future threats. The National Bitcoin Office (ONBTC) announced that the country’s 6,280 BTC, worth around $687 million, has been split across 14 new addresses, each holding no more than 500 BTC. Officials say this change reduces exposure to risks, including those that could arise from advances in quantum computing.

The concern stems from the possibility that quantum computers, once powerful enough, could break cryptographic protections and reveal private keys. While no such machine exists today, bitcoin developers have long debated the timeline of this threat. ONBTC also highlighted that avoiding address reuse improves security and privacy while allowing the government to maintain transparency.

The broader bitcoin community remains divided on the urgency of quantum risks. Some experts argue the issue is exaggerated, while others warn that the industry may have far less time than previously thought. A developer known as Hunter Beast recently cautioned that breakthroughs in IBM’s quantum experiments suggest the worst-case scenario could arrive within three years.

The bitcoin strategy of El Salvador continues to draw criticism from international institutions. The IMF, which approved a $3.5 billion loan to the country, insists that no new bitcoin purchases have been made this year and that the government is merely reshuffling its reserves. The ONBTC disputes this claim, maintaining that fresh purchases are still taking place despite pressure to scale back its cryptocurrency policies.

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Businesses absorb Bitcoin at four times the mining rate

Private and public businesses are acquiring Bitcoin nearly four times faster than miners are producing new coins, according to financial services firm River.

Companies, including publicly traded treasuries and private businesses, purchased an average of 1,755 BTC daily in 2025, with ETFs adding 1,430 BTC daily. Governments also joined in, buying about 39 BTC per day.

In contrast, miners produced just 450 BTC daily, raising fears of a potential supply crunch.

In the second quarter of 2025 alone, treasury companies acquired 159,107 BTC, bringing business holdings to around 1.3 million BTC. Michael Saylor’s firm Strategy leads with a corporate reserve of 632,457 BTC, making it the largest known holder.

Strategy says aggressive buying does not affect short-term prices, as most transactions are handled off-exchange through OTC markets. Analysts, however, continue to speculate that dwindling exchange reserves could become a powerful bullish force.

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ESMA highlights risks of tokenised equity products

A top European regulator has warned that tokenised stocks could mislead investors and undermine confidence in financial markets. Natasha Cazenave of ESMA said many tokenised stocks, like voting or dividends, lack shareholder rights.

Unlike traditional equities, tokenised stocks are typically issued through intermediaries and merely track share prices. Cazenave cautioned that retail investors may wrongly believe they own company shares, exposing them to a risk of misunderstanding.

Her warning follows the expansion of tokenised stock services on platforms like Robinhood and Kraken.

The World Federation of Exchanges recently echoed these concerns, urging regulators to strengthen oversight. Without intervention, the group warned that tokenised products could threaten market integrity and heighten investor risks.

Although advocates say tokenisation could cut costs and widen access, Cazenave noted most projects remain small, illiquid, and far from delivering promised efficiency. Regulators, she added, remain focused on balancing innovation with investor protection.

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Historic Bitcoin event set for November in San Salvador

El Salvador will host the world’s first state-sponsored Bitcoin conference, Bitcoin Histórico, on 12–13 November 2025 in San Salvador’s historic centre. The two-day event, organised by the National Bitcoin Office, will focus on money, culture, and crypto innovation, with early bird tickets available in Bitcoin or fiat.

Centro Histórico will be transformed into a hub for discussions, workshops, and cultural exchange. Keynote addresses at the National Palace will be broadcast to Plaza Gerardo Barrios, with additional sessions held at the National Library and National Theatre.

Speakers include billionaire Ricardo Salinas, author Jeff Booth, Bitcoin advocates Max Keiser and Stacy Herbert, Lightning Network developer Jack Mallers, and industry figures Pierre Rochard, Jimmy Song, Darin Feinstein, and Lina Seiche.

El Salvador’s government, holding 6,220 BTC, recently amended the constitution to extend presidential terms, allowing President Nayib Bukele another term.

The conference will address regulation, infrastructure, power use, financial inclusion, price volatility, and public understanding, guiding developing nations on using cryptocurrency.

The announcement coincides with a BTC recovery, trading above $109,175 following last week’s dip. Institutional demand remains strong, with Japanese company Metaplanet adding 1,009 BTC, while US spot ETFs recorded $440 million weekly inflows.

Anticipation of a Fed rate cut may further support Bitcoin and other risk assets.

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Analyst warns AI will make stocks obsolete in favour of Bitcoin

Analyst Jordi Visser warns AI could make traditional stocks obsolete by speeding up innovation, making public companies inefficient investments. He said Bitcoin is a longer-lasting investment, based on belief rather than fleeting corporate ideas.

Visser suggested that AI could compress a century of innovation into just five years, reshaping finance and capital markets. He believes investors will prefer belief assets like Bitcoin, noting its long-term resilience mirrors gold’s role as a store of value.

Momentum behind Bitcoin adoption is also gathering elsewhere. Eric Trump told the Bitcoin Asia 2025 conference that the cryptocurrency could reach $1 million as nation states, companies, and wealthy families add it to their reserves.

Public firms are shifting business models to hold Bitcoin directly, diverting capital from traditional equity markets.

Bitcoin’s market capitalisation currently exceeds $2.1 trillion, and some analysts predict it could surpass gold in the decades ahead. Its global, yield-generating design in DeFi could help Bitcoin surpass gold as a store of value.

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Tether pauses freezing of USDT on five blockchains

Tether has suspended its plan to freeze USDT smart contracts on five blockchains after feedback from community members. The stablecoin will remain transferable on these networks, but can no longer be issued or redeemed.

The decision affects Omni Layer, Algorand, EOS, Bitcoin Cash SLP, and Kusama. Omni Layer is most impacted, holding nearly $83 million in USDT. EOS carries around $4.2 million, while the other chains have less than $1 million combined.

Tether said it will focus on blockchains with strong adoption and developer activity, such as Ethereum and Tron, which hold over $150 billion in USDT. BNB Chain, Solana, and Ethereum layer-2 networks also play key roles in the stablecoin market.

The move comes as stablecoins gain fresh momentum following US President Donald Trump’s signing of the GENIUS Act. Analysts expect the law to strengthen dollar-pegged stablecoins globally, with forecasts suggesting the market could reach $2 trillion by 2028.

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Bitcoin could reach $150,000 by late 2025

Analysts suggest Bitcoin’s current bull cycle may reach new highs of $150,000 by December 2025, driven by supply scarcity and sustained institutional holdings. The growth is expected to be slower than previous cycles but could extend into early 2026.

Technical analysis shows that each successive cycle delivers smaller gains. While early cycles saw increases of 61%, 42%, and 35%, the current cycle may peak at 27%.

Experts argue that a deceleration in growth often results in longer-lasting uptrends rather than signalling an end to momentum.

Liquidity data points to further upside potential. Bitcoin held in long-term storage has returned to historically high levels, reducing the amount available for trading. Analysts warn that scarcity may boost prices, but sudden large sell-offs could push Bitcoin down to $90,000–$100,000.

The debate continues over the timing and duration of the cycle. Some experts say the bull run is nearly over, while others believe institutional activity is changing the traditional four-year halving cycle.

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US begins publishing economic data on public blockchains

The US Department of Commerce has begun a pilot to publish official economic data on public blockchains to boost transparency and integrity. The first release included GDP figures on nine networks, among them Bitcoin, Ethereum, Solana, and Polygon.

For the July 2025 update, the department issued a cryptographic proof confirming 3.3% annualised GDP growth. In some cases, the topline figure itself was also shared.

Major exchanges such as Coinbase, Gemini, and Kraken supported the rollout, while oracle providers Chainlink and Pyth made the data instantly available across hundreds of applications.

Commerce Secretary Howard Lutnick called the move practical and symbolic, highlighting the Trump administration’s aim to position America as a blockchain leader. He emphasised that putting government data on-chain ensures universal access and creates new opportunities for financial markets.

The pilot may expand to more chains, oracles, and market participants. Officials say future datasets may include inflation and other key metrics, potentially changing how public statistics are shared and used in decentralised finance.

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Countries join stablecoin race to counter US dollar power

The GENIUS Act in the United States has given stablecoin issuers a clear legal framework, boosting the role of dollar-pegged tokens in the global economy. Their widespread use has strengthened demand for US dollars and Treasury bills, solidifying American financial dominance.

Other nations are now working on stablecoin projects to protect local currencies. China is developing a yuan-pegged stablecoin aimed at international trade, following the recent adoption of Hong Kong’s Stablecoins Bill.

Japan is also preparing to launch a yen-pegged token backed by government bills later this year, with Monex Group leading the initiative.

The European Union has accelerated its plans for a digital € in response to the rise of USD-backed stablecoins. Reports suggest the project could be launched on Ethereum or Solana, a move that has sparked criticism from the crypto community over privacy and data control.

Despite several euro-pegged tokens already in circulation, their market share remains negligible compared to dollar-backed stablecoins.

Stablecoins are increasingly seen as tools for remittances and savings and for strategic influence in the global financial system. Other countries may struggle to rival USD-pegged coins, but the race to launch national stablecoins is underway.

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