Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
Amazon And Walmart Explore Launching Their Own Stablecoins
Walmart and Amazon are reportedly considering issuing or adopting stablecoins in a move that could upend how billions of dollars in consumer payments are processed — and potentially sidestep traditional banking infrastructure.
Both Amazon and Walmart have held internal discussions in recent months about launching their own digital currencies or partnering with existing stablecoin providers, according to a report in the Wall Street Journal.
The goal is to reduce dependence on credit card networks like Visa and Mastercard, which cost retailers billions annually in transaction and interchange fees.
Stablecoins are a type of cryptocurrency pegged to a government-issued currency, most often the US dollar.
Unlike volatile tokens such as Bitcoin or Ethereum, stablecoins are designed to maintain a fixed value and are backed by cash reserves or short-term US Treasuries.
Bank Of America CEO Confirms They Are Launching Their Own Stablecoin
Bank of America CEO Brian Moynihan confirmed the lender plans to issue a dollar-pegged stablecoin and is working on an internal build conducted alongside other industry participants.
Moynihan highlighted the bank’s understanding of stablecoins but underscored the need for clear regulatory frameworks before proceeding.
Stablecoins, unlike volatile cryptocurrencies like Bitcoin, are pegged to stable assets such as the US dollar, making them a promising payment method. The GENIUS Act, reintroduced in the Senate, aims to establish guidelines for stablecoin issuance by bank holding companies.
The legislation is anticipated to pass soon, potentially unlocking new opportunities for financial institutions like Bank of America.
Vietnam Passes Law Officially Recognizing Crypto Assets
Vietnam has officially recognized crypto assets with a groundbreaking law, marking a huge step toward digital innovation and positioning the country as a potential blockchain hub in Southeast Asia.
Vietnam’s National Assembly passed the Law on Digital Technology Industry on June 14th, 2025, legalizing crypto assets as of January 1st, 2026.
This move ends years of regulatory uncertainty, providing a clear framework for trading and investment, though crypto is not recognized as legal tender.
Beyond crypto, the law offers incentives for AI, semiconductors, and digital startups, signaling Vietnam’s intent to lead in tech innovation. Reports suggest it aims to attract foreign exchanges and foster blockchain development, making it a regional frontrunner.
Bybit Unveils Its First Solana DEX Byreal, Mainnet Launch Slated For Q3
Bybit is diving into decentralized finance (DeFi) with Byreal, built on Solana’s high-speed blockchain. The announcement highlights a testnet rollout by June 30th, 2025, with the full mainnet targeted for Q3.
Notably, Byreal promises a hybrid approach, combining CEX-grade liquidity with DeFi-native transparency. Solana’s low fees and fast transactions make it a fitting choice, potentially drawing traders frustrated by Ethereum’s costs.
The timing aligns with growing DeFi interest, but competition is fierce with established DEXs.
JPMorgan Files ‘JPMD’ Trademark Hinting At A New Stablecoin
Banking giant JPMorgan has filed a trademark for “JPMD,” sparking speculation about a new stablecoin.
Recent posts filings spotted on the USPTO database (case number 99235172) show a fresh trademark application for “JPMD,” hinting at a potential new stablecoin or related product.
Notably, JPMorgan is not new to the crypto game, having launched JPM Coin in 2019 as a dollar-backed stablecoin for institutional payments on their Quorum blockchain.
If JPMD is a stablecoin, it could leverage JPMorgan’s massive institutional reach to reshape interbank settlements or retail-facing solutions.
JPMorgan Tests Deposit Tokens on Base
JPMorgan Chase is testing its own dollar-pegged asset, dubbed a “deposit token,” on Coinbase’s Ethereum Layer-2, Base.
This news comes as JPMorgan is also piloting a token called JPMD that represents dollar deposits at the world’s biggest bank, as financial institutions deepen their push into the digital asset sector.
JPMorgan has also published its deposit token whitepaper, touting the design as “the key to a safer tokenized economy.”
Deposit tokens are transferable tokens issued on a blockchain but backed by a licensed depository institution with evidence of a deposit that can be claimed against the issuer.
This mechanism offers a stablecoin and CBDC alternative that is backed by deposit insurance, similar to traditional bank deposits. Through deposit tokens, individuals and institutions can settle payments on the blockchain with commercial bank-backed assets, potentially ushering in a new era of safety and sustainability for onchain payments.
Thailand Approves Tax Exemption On Crypto Capital Gains Until 2029
Thailand’s latest move waives personal income tax on crypto capital gains for trades via SEC-regulated entities, effective January 2025 to December 2029, as announced by Deputy Finance Minister Julapun Amornvivat.
This exemption targets increased market activity, foreign investment, and domestic consumption, with projections of over 1,000 million THB in mid-term tax revenue from alternative sources like Value Added Tax (VAT).
The policy also emphasizes innovation, transparency, and compliance with OECD data exchange standards, positioning Thailand as a pioneer in clear crypto tax frameworks.
Coinbase Is Seeking US SEC Approval To Offer Blockchain-Based Stocks
Crypto exchange Coinbase is seeking the Securities and Exchange Commission’s (SEC) approval to list blockchain-based stocks to tokenize traditional securities on-chain, a move that could bridge traditional finance and crypto markets with tokenized securities.
If successful, this could legitimize tokenized assets, blending DeFi with Wall Street.
Notably, the SEC has historically been tough on Coinbase, with past enforcement actions related to unregistered securities in 2023. The approval hinges on navigating complex regulatory frameworks and ensuring compliance.
Senate Passes Stablecoin Bill GENIUS Act, Turning Focus To House
The United States Senate reportedly has enough votes to pass the GENIUS Act, a landmark bill for stablecoin regulation, potentially reshaping crypto’s future with federal oversight.
If passed, the bill could enforce strict rules like 1:1 USD backing and federal guidelines for issuers, fundamentally altering the $250B stablecoin market’s landscape.
Still, before reaching President Donald Trump’s desk, the bill must clear the House, where the August recess begins in around 50 days.
Federal Reserve Leaves Interest Rates Unchanged, Remains At 4.25% – 4.50%
Federal Reserve officials agreed to hold interest rates steady on Wednesday but suggested they could cut them later this year.
“Despite elevated uncertainty, the economy is in a solid position,” Federal Reserve Chairman Jerome Powell said.
Fed policymakers had cut their rate three times late last year but have since been on hold. Inflation has cooled steadily since January, but Fed Chair Jerome Powell said at a news conference that tariffs are likely to reverse that progress and push inflation higher in the coming months. The Fed expects the bump to inflation will be temporary, but they want to see more data to be sure.
Trump has pointed to the mild inflation figures to argue that the Fed should lower borrowing costs and has repeatedly criticized Powell for not doing so. He called Powell “stupid” and accused him of being “political” for not cutting rates.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!