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As of July 24, 2025, the cryptocurrency market is experiencing significant developments, marked by legislative advancements, institutional investments, and notable price movements.

Legislative Milestones in the United States

The U.S. Congress has passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), establishing a comprehensive regulatory framework for stablecoin cryptocurrencies. This legislation mandates stringent standards for reserves, audits, and transparency for issuers, aiming to mitigate financial stability risks and protect consumers. The GENIUS Act has received bipartisan support and is now awaiting President Trump's signature.

In addition to the GENIUS Act, the U.S. House passed the Anti-CBDC Surveillance State Act, effectively banning the Federal Reserve from issuing or piloting a digital dollar without direct approval from Congress. This move reflects growing concerns about privacy and state monitoring of financial transactions.

Market Response and Institutional Inflows

The passage of these legislative measures has bolstered investor confidence, leading to a surge in cryptocurrency prices. Bitcoin (BTC) has reached an all-time high, trading near $123,000, driven by optimism around regulatory clarity and substantial institutional inflows. Spot Bitcoin ETFs have attracted over $1 billion in inflows, with BlackRock's iShares Bitcoin Trust ETF (IBIT) surpassing $80 billion in assets under management.

Ethereum (ETH) has also experienced significant gains, trading at approximately $3,600, up by 7.2% over the past 24 hours. This upward trend is supported by increased adoption and positive market sentiment.

Global Developments

Internationally, Bhutan has sold over $59 million worth of Bitcoin, capitalizing on the recent price surge. Despite the sale, Bhutan retains holdings of over 11,400 BTC, valued at more than $1.4 billion. The country's sovereign wealth fund, Druk Holding & Investments, manages these assets through a clean-energy mining program powered by hydropower.

In South Korea, the Ministry of SMEs and Startups announced plans to recognize crypto-related businesses as venture companies. This policy shift will grant crypto startups access to key government benefits, including corporate tax cuts and real estate acquisition tax relief. The move is part of a broader effort to integrate digital assets into the nation's innovation and startup economy.

Market Performance

The global crypto market capitalization has topped $4 trillion for the first time, reflecting increasing confidence in the sector. Altcoins such as Solana (SOL) and XRP have also posted gains, with SOL trading at $180.04, up by 4.1%, and XRP at $3.45, up by 7.8% over the past 24 hours.

However, the market has also seen some volatility. For instance, XRP experienced a decline to a low of $2.2098, highlighting the high correlation across crypto assets and the influence of market movements on individual cryptocurrencies.

Conclusion

The cryptocurrency market is currently characterized by significant legislative progress, substantial institutional investments, and dynamic price movements. The passage of the GENIUS Act and other regulatory measures in the U.S. are pivotal developments that are likely to shape the future trajectory of the crypto industry. Investors and stakeholders should remain vigilant and informed as the market continues to evolve.