[News Brief] Jul 22, morning | U.S. Treasury Secretary Scott Bessent Urges Swift Passage of the CLARITY Act

U.S. Treasury Secretary Scott Bessent: “CLARITY Act in Final Stretch... Urges Passage Before Recess”

U.S. Treasury Secretary Scott Bessent said the CLARITY Act, a digital asset market structure bill, has entered its final stage of advancement and urged Congress to pass it before recess.

According to Cointelegraph, Bessent said lawmakers have entered the final round of discussions on the bill. The CLARITY Act is designed to clarify the regulatory framework for digital assets in the United States, and the market is watching closely to see whether it will reduce regulatory uncertainty.

Coinbase CEO Brian Armstrong Urges U.S. Congress to Quickly Advance the CLARITY Act

Coinbase CEO Brian Armstrong urged the U.S. Congress to move quickly on the CLARITY Act.

According to Odaily, Armstrong said in a CNBC interview that “if the CLARITY Act does not pass, Coinbase may reconsider how it allocates its operations overseas.”

The CLARITY Act is legislation intended to clarify the regulatory framework for digital assets in the United States, and the industry is closely watching whether it will resolve regulatory uncertainty.

July 21 Spot Bitcoin ETFs See $203 Million in Net Inflows... Sixth Consecutive Trading Day of Inflows

Wu Blockchain, citing SoSoValue data, reported that spot Bitcoin ETFs recorded $203 million in net inflows on July 21 (local time).

As a result, spot Bitcoin ETFs posted net inflows for six consecutive trading days. On the same day, spot Ethereum ETFs recorded $37.471 million in net inflows, extending their inflow streak to three trading days.

Coinbase Pursues Integrated Exchange for Crypto, Tokenized Stocks, and Prediction Markets in Canada

Coinbase is pursuing the development of an integrated exchange in Canada that would combine cryptocurrency, tokenized stock, and prediction market trading.

PANews, citing Bitcoin Magazine, reported on the 22nd that Eric Richmond, Managing Director of Coinbase Canada, disclosed the plan.

Richmond explained that blockchain technology enables 24-hour trading, reducing the time and access constraints of traditional banking and stock markets. Coinbase is working with Canadian regulators for the service.

Coinbase has previously expanded services related to prediction markets and stock trading in the United States.

Canton Network Developer Digital Asset Raises Additional $10 Million from Shinhan Financial Group and SC Ventures

Digital Asset, the developer of Canton Network, has raised an additional $10 million from Shinhan Financial Group and SC Ventures. The total amount raised in its recent funding round has increased to $365 million, and the company has been valued at $2 billion.

According to a July 22 report by PANews citing The Block, the additional investment increased the total raised in the latest round from $355 million to $365 million.

Canton Network, developed by Digital Asset, is a public layer-1 blockchain designed to allow regulated financial institutions to handle assets and financial operations on-chain while maintaining compliance and privacy controls.

The round was previously led by a16z crypto, with participation from ABN AMRO, Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, Hanwha Investment & Securities, HSBC, S&P Global, and SBI Group.

S&P Dow Jones and Pantera Launch ‘S&P Pantera Digital Asset Index’ for Institutional Investors

S&P Dow Jones Indices and Pantera Capital have jointly launched the ‘S&P Pantera Digital Asset Index’ for institutional investors, according to The Defiant.

Through a fundamentals-based screening process, the index includes tokens and companies with real use cases and revenue generation, excluding Bitcoin and meme coins. The initial basket consists of 18 components, including Hyperliquid, Solana, and Aave.

Inclusion criteria include consistently positive protocol revenue over multiple quarters. On-chain data provider Artemis verifies the relevant revenue data.

Pantera said it is currently in talks with asset managers about products such as ETFs based on the index, although no tracking product has yet been launched.

a16z Crypto: June Monthly Transfer Volume of Tokenized Stocks Reached $9.22 Billion... Up 170x Year-on-Year

According to a16z crypto, the monthly transfer volume of tokenized stocks reached $9.22 billion in June, up more than 170 times from $53 million in June last year.

The metric includes on-chain activity such as trading, wallet-to-wallet transfers, and collateral deposits into DeFi protocols.

a16z crypto said that while the market for tokenized stocks remains small compared with traditional equity markets, the number of related issuers and platforms is increasing.

Gate: “Global Registered Users Surpass 58 Million”

Gate said in its Q2 2026 report that its global registered user base has surpassed 58 million.

According to Odaily, Gate announced that as of the end of the second quarter, it supports trading in more than 4,800 digital assets and more than 12,500 stock assets.

Gate said it is pushing to transform into a one-stop financial services platform that combines digital assets and traditional financial assets by expanding U.S., Hong Kong, and Korean stock trading, pre-IPO offerings, contracts for difference (CFDs), and wealth management services.

The report said cumulative subscriptions for the SpaceX pre-IPO project exceeded $396 million, while quarterly ETF trading volume approached $60 billion.

Solana and Hyperliquid ETFs Account for 80% of Altcoin ETF Trading Volume Excluding BTC and ETH

Solana and Hyperliquid ETFs account for about 80% of altcoin ETF trading volume excluding Bitcoin and Ethereum ETFs, according to PANews citing The Block.

The report said Solana ETF assets under management reached $904 million. The Hyperliquid ETF, launched about two months ago, has recorded $350 million in net inflows.

The size of the two ETFs is equivalent to about 2% of each token’s market capitalization. Compared with Bitcoin ETFs accounting for about 9% of Bitcoin’s market capitalization, analysts say there is room for further growth in altcoin ETFs.

The market sees Solana and Hyperliquid as attracting investors with relatively higher risk appetite, while Bitcoin and Ethereum ETFs are seen as having a more stable investor base.

BIS Warns Dollar Stablecoins Could Weaken Capital Controls and Burden Monetary Sovereignty in Emerging Markets

The Bank for International Settlements (BIS) has warned that dollar-denominated stablecoins could weaken the effectiveness of capital controls in emerging markets and put pressure on monetary sovereignty.

According to Cointelegraph, BIS researchers analyzed foreign-currency deposits and dollar stablecoin inflow data across more than 130 economies and found that both flows increased during periods of macroeconomic stress, but stablecoins showed little response to capital controls or foreign exchange regulations.

The researchers said this may be because stablecoins move partly outside the scope of some regulations, and argued that policymakers need new tools to address financial stability risks.

Source: PANews