The industry had some significant wins, with mainstream adoption showing signs of a breakthrough.
Regulatory clarity played a significant role alongside private sector innovation.
The headlines:
- Crypto week aided the signing of the GENIUS Act and the advancement of two other essential bills;
- President Trump is (reportedly) mulling an executive order to include crypto in IRAs and 401(k) s;
- PayPal enabled PYUSD support for the Arbitrum Layer-1 chain;
- BofA wants in on the stablecoin action;
- Charles Schwab wants to (entirely) dip its toes in crypto;
- Plus, several regulatory agencies offered digital asset safekeeping guidelines to FIs (More on that later)…
- And much more!
As always, these are your decentralized diaries!
Are you and your firm AI-Ready? Join AICFP today and receive education certification for financial professionals and more – click here for more info
Bitcoin is at $118k (as of 7/21/25)
The crypto space slowed slightly after massive gains. Bitcoin moved from a low of $115,765.68 to a high of $120,999.60 before settling at $118,206.66.
The altcoins are undecided, too.
Ethereum (ETH) is at $3,807.83, Solana (SOL) is at $190.75, Chainlink (LINK) is at $20.04, Avalanche (AVAX) is at $25.97, Polkadot (DOT) is at $4.56, and Sei (SEI) is at $0.3614.
Crypto Week Occurred on Capitol Hill
The much-anticipated crypto week occurred on Capitol Hill. The House of Representatives scored several legislative victories.
On July 18, President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law. The lower house also advanced two critical bills, including the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act.
The President Plans to Include Crypto in Retirement Accounts
According to a July 17 Financial Times report, President Trump plans to sign an executive order that would open the $9 trillion U.S. retirement market. The order will (reportedly) add 401(k) plans to digital assets, gold, and private equity investments.
The directive will enable regulators to eliminate barriers preventing professionally managed retirement portfolios from including digital assets.
On July 17, PayPal unveiled support for the PYUSD on Arbitrum. The move brings Ethereum compatibility with sub-cent transaction costs and near-instant settlement, unlocking new use cases for micropayments, usage-based billing, and real-time rewards distribution.
Developers can now integrate PYUSD into decntralized apps (dApps) without rewriting code, leveraging Arbitrum’s optimistic rollup tech and Ethereum tooling.
There’s a Crypto Mortgage Bill on Capitol Hill
On July 14, Rep. Nancy Mace (R-SC) introduced H.R. 4374, draft legislation that aims to enable mortgage lenders to factor digital assets into the underwriting process. Tokens held on centralized exchanges will be (a part of) the credit review process.
Furthermore, there would be no need to convert the digital assets to fiat.
BofA Eyes Stablecoin Partnerships
According to a Reuters report dated July 16, Bank of America is preparing to enter the stablecoin market. BofA CEO Brian Moynihan confirmed plans to partner with select issuers as regulatory clarity improves.
Additionally, Moynihan compared the rollout to digital payment platforms like Zelle and Venmo, signaling that adoption will follow once client demand and legal guardrails are in place.
Grayscale Filed for a Confidential IPO
On July 14, digital asset behemoth Grayscale posted a confidential IPO filing on its website. The S-1 form didn’t reflect the number of shares planned or prices.
Subsequently, the process will continue after the SEC’s regulatory review.
An FOIA Report Revealed America’s Bitcoin Holdings
A newly released Freedom of Information Act (FOIA) response confirmed that the U.S. Marshals Service holds just 28,988..35643016 BTC, worth approximately $3.3 billion. The figure is dramatically lower than the widely assumed 200,000 BTC stash.
Independent journalist L0la L33tz obtained the disclosure. It also highlights the distinction between forfeited assets (legally owned by the government) and seized assets (which are still subject to litigation or investigation).
Cantor Fitzgerald will Soon Close a $4 billion Bitcoin Acquisition Deal
A July 15 Financial Times report unveiled a soon-to-be-closed deal that could see Cantor Equity Partners 1 purchase $4 billion worth of Bitcoins from Blockstream. The Brandon Lutnick-led special purpose acquisition company (SPAC) is (reportedly) negotiating with Blockstream’s Adam Back to complete the process.
Moreover, Blockstream will (expectedly) contribute (approximately) 30,000 Bitcoins.
Charles Schwab Wants to Go All in with Crypto
Banking giant Charles Schwab confirmed plans to launch spot Bitcoin and Ethereum trading, marking its first direct crypto offering beyond digital asset ETFs. Charles Schwab announced the move during its earnings call on July 18.
The firm also revealed its intentions to develop a stablecoin, explore multiple delivery paths, and establish partnerships.
Kraken Launched Crypto Futures Trading
On July 17, boutique digital asset exchange platform Kraken unveiled regulated crypto futures trading for U.S. clients. The move enables CME-listed Bitcoin and Ethereum contracts via its Kraken Pro platform.
Traders can now manage spot and futures strategies through a unified interface with instant collateral transfers.
Several Government Agencies Released Crypto Safekeeping Guidelines for FIs
On July 14, in a joint statement, several regulators announced digital asset risk management procedures for financial institutions. They include the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency.
The statement stressed compliance with existing state and federal laws and regulations, as well as with (appropriate) industry-standard practices.
Coinbase Launched a Digital Asset Superapp
On July 16, in Los Angeles, California, premier crypto exchange Coinbase officially launched its rebranded Base App. Coinbase built the offering on the Base Layer 2 network, and enables users to post, earn, chat, and transact—all on-chain.
The Base App features include encrypted messaging, creator monetization, and instant USDC payments via NFC. The app integrates open protocols, including Farcaster (social), XMTP (messaging), and Zora (monetization), allowing each post to become a tokenized asset.
There’s A New Quantum-Proof Bitcoin Proposal
A new Bitcoin Improvement Proposal (BIP) could significantly alter the Bitcoin blockchain if implemented. Several developers, including Jameson Lopp, CTO of crypto self-custody firm Casa, and five other developers, first unveiled the draft BIP on July 15.
According to the proposal, owners will be responsible for upgrading their wallet addresses to quantum-proof addresses. Furthermore, the owners could lose their tokens to quantum attacks if they don’t perform the required actions.
The ETF Space Had Some Action
Digital asset ETF activity continued. On July 16, the SEC announced its decision to delay the in-kind redemption decision for the Bitwise Ethereum ETF and the Bitwise Bitcoin ETF Trust until September 8.
On July 14, Nasdaq filed to include staking in its iShares Ethereum Trust. On July 14, the NYSE Arca revealed approval to list the ProShares Ultra XRP ETF.
Similarly, a July 17 filing revealed plans by Canary Capital to launch its Canary Staked INJ ETF.
