[News Brief] Jul 3, morning | Reserve Bank of India (RBI) Recommends Near-Ban Level Controls on Crypto Assets and Private Stablecoins

Reserve Bank of India (RBI) Recommends Near-Ban Level Controls on Crypto Assets and Private Stablecoins

The Reserve Bank of India (RBI) has recommended a control strategy for crypto assets and privately issued stablecoins that is close to an outright ban.

According to PANews, in its submission to India’s Parliamentary Standing Committee on Finance, the RBI said that banning crypto assets remains an important option within the international regulatory framework.

The RBI argued that regulated financial institutions, including banks, should be completely insulated from crypto assets and privately issued stablecoins.

It also warned that regulating crypto assets like traditional financial assets could create the impression that such high-risk speculative products are safe, thereby increasing financial stability risks.

The RBI said the spread of stablecoins could weaken monetary sovereignty and create confusion in monetary policy transmission and payment systems, while reaffirming its commitment to strengthening domestic digital payment infrastructure through a central bank digital currency (CBDC).

U.S. Senate Expected to Release Final Version of Bitcoin Clarity Bill Within Days

Bloomberg reported that the U.S. Senate is expected to release the final version of the Bitcoin Clarity Bill within the next few days, according to Pete Rizzo.

According to the report, the final draft may be released during the U.S. Independence Day holiday period.

The bill is part of broader discussions aimed at clarifying the cryptocurrency regulatory framework in the United States, and the market is watching closely to see whether it will reduce legal uncertainty around digital assets.

U.S. Spot Bitcoin ETFs Record $222 Million in Net Inflows After 10 Straight Trading Days of Outflows

According to Wu Blockchain, on July 2 (U.S. Eastern Time), U.S. spot Bitcoin ETFs recorded total net inflows of $222 million.

This marked a return to net inflows after 10 consecutive trading days of net outflows. On the same day, spot Ethereum ETFs also posted net inflows of $29.08 million.

BTC Breaks Above $62,000

According to Odaily, BTC broke above $62,000 based on OKX market data.

BTC is currently trading at $62,015.6, up 1.33% over the past 24 hours.

Stripe Subsidiary Bridge Obtains MiCA CASP and Electronic Money Institution Licenses in Luxembourg

PANews reported that Bridge, a stablecoin payments platform under Stripe, has obtained a crypto-asset service provider (CASP) license under the MiCA framework and an electronic money institution license in Luxembourg.

These licenses are valid across all 27 EU member states. Bridge has supported businesses and developers in converting funds between stablecoins and euros, and plans to expand its stablecoin services in the European market based on the new approvals.

SEC Chair: Rules Are Being Modernized to Bring Financial Markets On-Chain

Source: Watcher.Guru

Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), said the agency is modernizing relevant rules to bring financial markets on-chain.

The remarks are being interpreted as part of U.S. financial regulators’ broader push to integrate digital assets and tokenized financial infrastructure into mainstream markets.

Securitize Launches Tokenized Version of SECZ Shares on Solana and Avalanche Simultaneously With NYSE Listing

Tokenization firm Securitize launched a tokenized version of SECZ shares on Solana and Avalanche at the same time trading began on the New York Stock Exchange.

According to PANews, citing The Block, SECZ opened at $12.45 on the NYSE, reached an intraday high of $13.70, and closed at $12.30.

Securitize said the on-chain issuance is intended to broaden access for global investors and provide a 24-hour trading environment.

Securitize President Brett Redfearn said the company is discussing IPO allocation tokenization plans with capital markets divisions at major investment banks including JPMorgan, and that concrete progress could emerge within the next 3 to 12 months.

Securitize explained that it uses an issuer-sponsored model and that the tokenized shares operate as securities carrying the same shareholder rights as traditional shares, including voting rights and dividends.

Crypto Payments Firm Mesh Conducting New Funding Round Led by Binance, Valuation Could Reach $2 Billion

PANews, citing Axios, reported that crypto payments firm Mesh is conducting a new funding round led by Binance.

According to the report, Mesh’s valuation could reach as much as $2 billion after the financing. Market attention is focused on whether major exchanges will participate as the company pushes to expand its payment infrastructure.

Solana Network RWA Total Value Hits All-Time High of $3.62 Billion

According to Odaily, SolanaFloor said on X that the total value of real-world assets (RWA) on the Solana network reached a record high of $3.62 billion.

More than $540 million in RWA value flowed into Solana over the past seven days. RWA refers to assets such as real estate and bonds represented as blockchain-based tokens.

Roughly 800,000 USDC Stolen in Suspicious Transactions on Hinkal

According to CertiK Alert monitoring, suspicious transactions occurred on decentralized privacy protocol Hinkal, resulting in the theft of about 800,000 USDC.

CertiK Alert analyzed that externally owned account address 0xbB3f01a1b1C68F3DEB36C55342b5F5706c32fc20 completed a 'Proofless Deposit' operation and then executed multiple 'Transact' transactions to drain assets from the Hinkal contract.