Crypto news

In the past week, the digital asset market showed signs of stabilization after geopolitical shocks. However, key events unfolded not on price charts, but in regulatory offices: Kazakhstan launches a large-scale legalization, the European Parliament prepares the ground for regulating DeFi and NFTs, and the ambitious US plan to create a bitcoin reserve has hit bureaucratic barriers. Let's break down the main points.

Market: Recovery After a Dip

The beginning of the week was marked by a sharp drop in bitcoin below the $62,000 mark amid the escalation of the conflict between Iran and the US. However, digital gold quickly recovered from the shock: subsequent rounds of geopolitical tension failed to push prices down. By the weekend, the rate had recovered to $64,000, gaining 2.2% over the week. Ethereum showed similar dynamics (+2.6%), while most altcoins, including Dogecoin and Solana, went into negative territory by 4-4.4%.

An important signal — spot bitcoin ETFs broke a record eight-week streak of outflows, attracting $197.4 million. The total assets under management of these funds grew to $77.4 billion. The Fear and Greed Index left the "extreme fear" zone, rising to 26 points. Market capitalization increased from $2.07 trillion to $2.2 trillion, while bitcoin's dominance remained at 58.4%.

Kazakhstan: A New Era for the Crypto Industry

President Kassym-Jomart Tokayev signed a decree on stimulating and developing the digital asset industry. The document, prepared by the Ministry of Artificial Intelligence and the National Bank, provides for the creation of a "transparent ecosystem of digital financial services." Key measures include legalizing the use of stablecoins and digital assets in cross-border settlements, as well as voluntary disclosure of assets previously held on foreign unregulated platforms, with their transfer to Kazakh platforms.

Particularly noteworthy is the tax incentive: for individuals, it is proposed to exempt income from transactions with digital assets through the country's regulated infrastructure from personal income tax. This is a bold step that could attract both local and foreign investors, setting a precedent for the entire post-Soviet space.

EU: MiCA Expands to DeFi and NFTs

The European Parliament approved an official position on further regulation of digital assets. Although the document does not make direct changes to MiCA, it clearly outlines the intention to extend control to sectors that have remained in the shadows: DeFi, crypto lending, staking, and NFTs. This happened immediately after the end of the MiCA transition period on July 1, when all crypto companies in the EU switched to mandatory licensing.

The goal of European politicians is to prevent fragmentation of the single market and create unified rules for all participants. This is a logical step, which, however, could significantly complicate the lives of decentralized protocols operating without a clear jurisdiction.

USA: Bitcoin Reserve Stuck in Bureaucracy

The Trump administration's initiative to create a Strategic Bitcoin Reserve (SBR) has faced serious obstacles. Disagreements between the Treasury, Commerce, and Justice Departments regarding the structure and authority to manage the digital gold reserves have stalled the process. The main problem is the high volatility of bitcoin, which raises doubts about the legality of government agencies' authority to manage such an asset.

Currently, the US holds the largest state reserve of 328,372 BTC (~$21 billion). Bills are being promoted in Congress to purchase 1 million BTC over five years, but without resolving the bureaucratic deadlock, these plans will remain on paper.

SWIFT and Blockchain: A Bridge Between Worlds

The global financial network SWIFT announced the readiness of its blockchain infrastructure for the first phase of use. The pilot project, involving 17 banks from six continents (Citi, HSBC, BNP Paribas, and others), focuses on round-the-clock cross-border payments with tokenized deposits. The SWIFT solution will connect different ledgers and synchronize payment obligations, leaving final settlements in existing systems.

What Else Happened?

• Strategy sold 3,588 BTC for $226 million.
• CertiK estimated crypto industry losses from hacks at $1.32 billion over six months.
• Exchange AscendEX and service Zapper announced closure.
• SpaceXAI released Grok 4.5 with a focus on speed and price.

Expert Conclusion: The week showed that the market is learning to ignore geopolitical noise, but regulatory uncertainty remains the main brake. Kazakhstan is making a bold bet on legalization, the EU is tightening the screws, and the US is bogged down in bureaucracy. Investors should closely monitor developments in Astana and Brussels — that is where the future of the crypto industry is currently being forged.