U.S. Senate Approves Stablecoin Regulation Bill Advancement
The U.S. Senate has taken a decisive step toward systemic regulation of digital assets by voting to advance a key bill focused on stablecoins. If fully passed, the new law will require stablecoin issuers to:
– be backed by fully liquid reserves (such as fiat currency or short-term U.S. Treasury bonds);
– undergo regular independent audits;
– obtain licenses and approval from appropriate government regulators.
According to the bill, only licensed financial institutions that meet strict criteria for transparency, liquidity, and stability will be allowed to issue stablecoins.
This legislation could dramatically reshape the U.S. stablecoin market. It is aimed at protecting consumers and reducing systemic risks caused by opaque practices of certain issuers. Companies like Tether (USDT), Circle (USDC), and banks planning to issue their own digital dollars will be the first to feel the impact.
Santiment: BTC and ETH Continue Leaving Exchanges
Analytics platform Santiment reports new historical lows in the supply of Bitcoin and Ethereum on centralized crypto exchanges:
– BTC reserves on exchanges have dropped to the lowest level in 8 years — now under 5.3% of total supply.
– ETH reserves are at a 10-year low, falling below 10.6%.
Such an outflow from exchanges is typically interpreted as a bullish signal: investors are moving crypto to long-term storage (cold wallets), showing reduced willingness to sell in the short term. This also reduces market sell pressure and may create favorable conditions for price appreciation.
Additionally, exchange outflows often precede large institutional accumulation or the launch of custodial strategies. The market anticipates increased volatility ahead of SEC decisions on spot Ethereum ETFs and further actions by the U.S. Federal Reserve.
Strive Plans to Acquire up to 75,000 BTC from Mt. Gox Creditors
Investment firm Strive Asset Management has announced plans to purchase up to 75,000 BTC from Mt. Gox creditors. The exchange went bankrupt in 2014 following one of the biggest hacks in crypto history. The planned purchase equals nearly $3.8 billion at current prices.
The goal is to build a highly liquid bitcoin reserve for its institutional products and long-term investment fund. Strive’s offer targets creditors who have been waiting over 10 years for compensation and provides an opportunity to sell their claims before official distributions begin.
This move could speed up fund recovery for many affected investors while enabling Strive to accumulate BTC — likely at a discount.
For reference, Mt. Gox is set to return approximately 142,000 BTC to creditors. Strive’s offer represents more than 50% of total outstanding claims.
SEC Delays Decisions on XRP and DOGE Trusts
The U.S. Securities and Exchange Commission (SEC) has postponed decisions on several key crypto investment products:
– 21Shares Core XRP Trust
– Grayscale XRP Trust
– Grayscale Dogecoin Trust
The regulator has requested additional time to review the applications — a standard procedure. However, it also reflects increased SEC scrutiny of altcoins and related investment structures.
If approved, these trusts would give investors regulated access to XRP and DOGE, boosting institutional involvement and the legitimacy of these digital assets.
The crypto market continues its path toward maturity and integration into the global financial system. On one hand, the U.S. is tightening its regulatory framework — especially regarding stablecoins. On the other, analytics show rising accumulation and shrinking exchange supply, potentially signaling the start of a new accumulation cycle.
Against this backdrop, investment firms like Strive are acting proactively, acquiring bitcoin from legacy creditors. Meanwhile, the SEC continues to regulate crypto infrastructure by shaping the future of trusts and potential ETFs. Altogether, this forms the foundation for a new phase of the industry’s evolution — more structured, institutional, and less speculative.
