This week, the cryptocurrency world grabbed headlines due to pivotal events, including legislative discussions in the U.S., the impact of political decisions on the market, and major companies' steps towards integrating with traditional banking.
Focus on U.S. 'Crypto Week'
Starting July 14, the U.S. Congress will hold 'Crypto Week' to discuss key legislation on digital assets. Prominent bills include the CLARITY, GENIUS, and the Anti-CBDC Surveillance Act. These initiatives could alter regulations for Bitcoin, Ethereum, and stablecoins, potentially causing market volatility.
Trump's Bill Impact on Bitcoin Market
Recently, a massive $5 trillion spending and tax bill known as the 'Big Beautiful Bill' was passed, which does not directly mention crypto. Analysts speculate that the increase in national debt may drive investors toward Bitcoin as a safe haven, likely positively affecting its prices.
Ripple Pursues Banking License
Ripple has applied for a national bank license in the U.S. CEO Brad Garlinghouse noted this as a step towards enhancing trust in the stablecoin market. This follows a similar move by Circle, which is also seeking licensing.
This week has been eventful for the cryptocurrency market, and upcoming legislative changes alongside corporate initiatives could significantly influence the future of the crypto industry.
