According to White House “crypto czar” David Sacks, July could mark a watershed moment for U.S. crypto policy. “July will be a big month, with a bill signing for GENIUS, and CLARITY going to the Senate!” he emphasized. With stablecoin legislation and market-structure bills both gaining momentum -and President Trump voicing strong support for swift approval, the crypto industry is bracing for what may be the most pivotal regulatory shift since its inception.

Crypto markets traded mostly sideways this week as investors weighed growing institutional adoption against renewed regulatory scrutiny. Stablecoins remained front and center, driven by major developments from firms like Fiserv. Meanwhile, the Financial Action Task Force (FATF) issued a stern call for tighter global compliance, citing persistent gaps and growing illicit use. Amid this regulatory pressure, Bitcoin ETFs posted their strongest week of June, while Ethereum ETFs saw early optimism fade by week’s end. The stablecoin race is heating up, just as the regulatory spotlight intensifies.

Fiserv Enters Stablecoin Race With FIUSD Launch

Fintech giant Fiserv has announced plans for FIUSD, its new stablecoin built in partnership with Circle, Paxos, and launching on Solana, targeted at regional banks and merchants. The move coincides with Fiserv’s growth in stablecoin capabilities, including a partnership with PayPal and deep integration into Mastercard’s network. The announcement triggered an 8% boost in Fiserv’s stock price and reflects mounting industry confidence, especially as U.S. stablecoin legislation gains momentum.

Thank you to American Banker for their recent coverage of the Metallicus Stablecoin Pilot.

We are proud to support institutions and credit unions in the Metal Blockchain Banking Innovation Program as they explore a compliant path to an on-chain financial future. Read the full feature here.

Global financial crime watchdog calls for action on crypto risks

The Financial Action Task Force (FATF) - the global financial crime watchdog, released a report urging countries to strengthen frameworks around digital assets. The report highlights that only 40 out of 138 jurisdictions fully comply with crypto standards, despite $51 billion moving through illicit wallets last year. FATF specifically called out stablecoins as a key vulnerability, warning they’re increasingly used by North Korea and terrorist groups. Expect rising pressure for coordinated regulation in coming months.

Bitcoin ETF Flows: Strong Weekly Momentum

Spot Bitcoin ETFs continued their solid performance this week, posting four consecutive days of inflows. Monday opened with $350.6M in net inflows, followed by a robust $588.6M on Tuesday. Inflows remained high on Wednesday with $547.7M, before slowing on Thursday to $226.7M. BlackRock led the charge across all sessions, with notable contributions from Fidelity and Ark. The consistent demand for BTC ETFs reflected growing institutional confidence, especially as macro uncertainty persisted. Overall, the week was one of the strongest for Bitcoin ETF inflows this month.

Ethereum ETF Flows: Early Optimism Fades by Week’s End

Ethereum ETFs started the week with a strong showing, capturing $100.7M in inflows on Monday, led by Fidelity and Grayscale. Tuesday added another $71.3M, and Wednesday held firm with $60.4M. However, Thursday brought a sharp reversal as Grayscale saw notable outflows, dragging total flows for the day to -$26.4M. Despite the weak finish, Ethereum ETFs ended the week net positive. The data continues to suggest that investors are still warming up to ETH ETFs, but with more hesitancy than BTC counterparts.

Top Gainers 7 Day Chart (Coins Available on Metal Pay)

Markets traded mostly sideways this week, with Bitcoin (BTC) managing to edge out a modest gain of +0.9%, defying broader weakness. All other tracked assets dipped into the red - Metal Blockchain (METAL) dropped -1.9%, while Litecoin (LTC) slipped -2.4%. Solana (SOL) and XPR Network (XPR) were the week’s laggards, down -3.3% and -3.6% respectively. Sentiment remained muted as traders awaited further regulatory clarity and macroeconomic cues.