Hong Kong Stablecoin Regulation Set for August 2025

Bridgers has issued a key clarification about its service model: It is not a DEX and does not hold user funds or match orders directly. Instead, Bridgers functions as a routing protocol that securely connects users to aggregated liquidity across DEXs and bridges through smart contracts. Users maintain full control of their assets throughout the process, only authorizing transactions that Bridgers routes optimally. **Key Points:** - Non-custodial by design - Routes transactions via smart contracts - Aggregates existing DEX/bridge liquidity - User maintains asset control

The U.S. Senate has made significant progress on stablecoin regulation, passing the GENIUS Act with a decisive 68-30 vote. Key provisions of the bill include: - Mandatory 100% USD backing for stablecoins - Annual auditing requirements for major issuers - New regulatory framework for foreign stablecoin providers This marks a historic step toward establishing the first comprehensive stablecoin legislation in the United States. The bill aims to enhance transparency and security in the digital asset market. Want to learn more about how this affects your digital assets? Visit [U.S. Senate Committee on Banking](https://www.banking.senate.gov)

The web3 community maintains its daily greeting tradition with consistent *GM* messages accompanied by sunny emojis. A notable pattern shows alternating use of *gm gm* and *gm frens* across months, with occasional coffee emojis appearing. The consistency spans from February through June 2025, demonstrating the community's commitment to daily engagement and positive culture-building. - Primary greeting variations: *gm gm* and *gm frens* - Most common emoji: :sunny: - Occasional variations: :coffee:, :sun_with_face: - Continuous streak since February 2025

**Market Highlights:** - ETH up 5% with whale selling 5,002 ETH at $2,625.76 for $231K profit - BTC steady at $110K with whale opening 20x long position (2,817 BTC, $300M+) - Trump-backed American Bitcoin acquires 215 BTC **Key Developments:** - U.S. CLARITY Act raises concerns over token status - Guggenheim launches tokenized DCP on XRPL - Binance announces 400 $RESOLV airdrop - New mixed BTC+ETH ETF application filed - Silhouette Privacy Layer secures $3M funding - Spot SOL ETF filing progresses - Bitwise releases GameStop Covered Call ETF

The SEC has requested updated filings for a potential Solana spot ETF, suggesting possible approval within 24 months. This development follows Nasdaq's recent application to include $SOL alongside $XRP, $ADA, and $XLM in their crypto index ETF. Key points: - $SOL price increased 4% following the news - Polymarket indicates 78% probability of Solana ETF approval this year - Move could expand US crypto ETF exposure beyond Bitcoin and Ethereum This regulatory shift may signal broader acceptance of digital assets in traditional finance markets.