Bitcoin News Today: Stablecoins gain $4B as U.S. passes key crypto laws in July

Stablecoins added $4 billion to their market capitalization in July as the U.S. House of Representatives passed three crypto-related laws, including the GENIUS Act, which was signed into law by President Donald Trump [1]. The legislation, which sets regulatory guidelines for stablecoins, was celebrated as a major development for the crypto industry, even though it omitted provisions for interest-bearing stablecoins, a point of contention for some industry leaders [1]. The new law, combined with the ongoing development of the CLARITY Act in the Senate, is expected to foster significant growth in the stablecoin sector [1].

The stablecoin market showed robust activity, with monthly active addresses increasing by over 20% in July to over 38 million [1]. The total transaction value of stablecoins reached $7 trillion in the first quarter of 2025, underscoring their growing adoption. Sygnum’s Chief Investment Officer, Fabian Dori, noted that the GENIUS Act provides confidence for innovative applications in the stablecoin space [1].

Meanwhile, Bitcoin exchange reserves continued their downward trend, dropping 2% in July and falling below 15% of the total supply for the first time since 2018 [1]. This decline, which has continued since January 2025 with a 14% reduction overall, is seen as a bullish sign, suggesting investors are moving their Bitcoin holdings off exchanges and into long-term storage [1]. Analysts warn of a potential “supply shock” as demand outpaces shrinking supply on exchanges. Crypto Chief, a Bitcoin analysis account, highlighted the divergence between Bitcoin’s record-high prices and the declining OTC balance, describing it as a sign of a supply issue [1].

The tokenized real-world assets (RWAs) sector also saw growth, with the total value surpassing $25 billion in July, an increase of about 2.5% [1]. This follows a 260% year-to-date rise, driven by tokenized private credit and U.S. Treasury debt. In July, tokenized stocks alone grew 15% to over $400 million [1]. Robinhood announced it would begin offering RWA trading, a move that contributed to a nearly 700% rise in tokenized stock addresses [1]. However, legal uncertainties remain, particularly around the tokenization of equity by private firms and investor protections.

On the regulatory front, three U.S. states—Missouri, New Hampshire, and Oregon—passed crypto-related laws [1]. Missouri introduced regulations for crypto ATMs and recognized metals-backed digital currencies as legal tender. New Hampshire established a committee to study a potential regulatory framework for stable tokens and RWAs, with results expected by November. Oregon updated its abandoned property laws to include cryptocurrencies, requiring holders to remit or liquidate assets after three years. In contrast, Arizona’s governor vetoed a bill that would have created a state stockpile from law enforcement-seized crypto, citing concerns about local jurisdictional rights [1].

Globally, seven countries introduced or expanded licensing frameworks for crypto firms in July. The Hong Kong Monetary Authority finalized its stablecoin rules and launched a public registry for licensed issuers. In Europe, Bybit, OKX, and CoinShares received licenses under the Markets in Crypto-Assets (MiCA) framework, with Bybit operating in Austria and OKX and CoinShares in France. Ripple is seeking a MiCA license and exploring expansion via Luxembourg, while AllUnity, a stablecoin project by DWS and Deutsche Bank, received a German E-Money Institution license to issue euro-denominated stablecoins. Bitstamp received approval from Singapore’s Monetary Authority, and both Ripple and Circle in the U.S. are pursuing banking licenses under federal oversight [1].

Sources:

[1] https://cointelegraph.com/news/stablecoins-4b-bitcoin-exchange-reserves-july-charts?utm_source=rss_feed&utm_medium=rss%3Frefresh%3D175****997165%26_t%3D175****997165%26timestamp%3D175****997165&utm_campaign=rss_partner_inbound