The morning of July 13 brought a series of landmark events that are shaping the new landscape of the crypto industry. From the mass adoption of stablecoins in Japanese retail to increased regulatory pressure in Thailand and attempts to find a compromise between religion and digital assets in Pakistan, the market demonstrates its multifaceted nature. We analyze the key trends.
Market Dynamics: Bitcoin Loses Ground, TRON Holds Steady
Bitcoin (BTC) started the day with a downward movement. As of 07:35 Moscow time, the leading cryptocurrency is trading around $62,687. Over the past 24 hours, the asset updated its low at $62,616, while the high reached $64,340. Ethereum (ETH) is also showing negative dynamics, sitting at the $1,780 level.
Among the top 10 by market capitalization, TRON stands out, showing the best performance over the past 24 hours (+0.15%) and the week (+0.45%). This indicates sustained interest in the network focused on high throughput and low fees. Meanwhile, Hyperliquid became the laggard, losing over 8% over the week, which may be related to a correction following previous growth.
Among the top 100, DeXe demonstrates the most impressive dynamics, surging nearly 95% over the week. At the opposite pole is Pi, which lost 22% over the same period. Such volatility is typical for projects in early stages, and investors should exercise increased caution.
Japan: Stablecoins Enter Convenience Stores
Japan's third-largest convenience store chain, Lawson, is launching a pilot project to accept stablecoin payments. Starting in August, one of the chain's stores in the Takanawa Gateway City complex in Tokyo will begin accepting the yen-pegged stablecoin JPYC. The experiment is being conducted jointly with telecommunications giant KDDI and crypto wallet operator HashPort. Given that Lawson has nearly 14,700 locations nationwide, the success of the pilot could become a powerful catalyst for the mass adoption of stablecoins in retail.
Thailand: Central Bank Tightens Oversight of Stablecoins
The Bank of Thailand, together with the Securities and Exchange Commission, is strengthening control over large stablecoin transactions, with a particular focus on USDT, cash transactions, and currency exchange. The main goal is to combat money laundering and the "gray" economy. The head of the regulator emphasized that this is not about one-off measures, but a comprehensive and ongoing strategy. This is a signal to the market: transparency and regulatory compliance are becoming mandatory conditions for operating in the region.
Pakistan: Dialogue Between Crypto Enthusiasts and Religious Leaders
The head of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal bin Saqib, called for continued dialogue on the status of digital assets under Islamic law. The occasion was a meeting with influential theologian Mufti Taqi Usmani, who supported a religious ruling banning purchases with cryptocurrency. Usmani and five other scholars from an authoritative madrasa in Karachi signed a fatwa stating that digital tokens are not considered recognized property from the perspective of Sharia law.
Saqib did not challenge the ruling but proposed to continue discussing the differences between asset categories. This is an important step for Pakistan, where 96.35% of the population is Muslim. Reaching a compromise between technological progress and religious norms could pave the way for the legalization of cryptocurrencies in one of the region's largest countries.
Expert Commentary: The introduction of stablecoins in Japanese retail is not just an experiment, but a strategic step towards creating a hybrid financial system where traditional payments and digital assets coexist. However, the parallel tightening of regulations in Thailand reminds us that institutional interest always goes hand in hand with increased control. Investors should closely monitor these processes, as they are laying the foundation for the next stage of market development.