Crypto Market Update: “Regulation Crypto” Agenda Slated for July
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Here’s a quick recap of the crypto landscape for Wednesday (July 8) as of 10:00 p.m. UTC.
Bitcoin price update
Bitcoin (BTC) was priced at US$62,149.60, down by 2.4 percent over the past 24 hours.
The decrease marked a pullback from the cryptocurrency’s week-long rally. Utkarsh Ahuja at Moon Pursuit Capital advised investors to distinguish between a temporary price relief rally and a genuine cycle recovery.
“In my view, the recent rally in BTC was encouraging, but today’s pullback reinforces that it’s still too early to call the start of a new bull cycle,” he told the Investing News Network via email.
“While ETF inflows have improved, broader market participation and trading volumes remain relatively subdued, particularly during the seasonally quieter summer months. That leaves BTC highly sensitive to macro and geopolitical developments, including renewed tensions involving Iran,” Ahuja added.
“I believe investors should focus less on short-term price moves and more on whether liquidity is meaningfully expanding. Until participation broadens and volumes strengthen, I view rallies as constructive, but ultimately as relief rallies rather than confirmation of a durable trend reversal.”
Bitcoin price chart
24 hour Bitcoin price performance, July 7 to 8, 2026.
Chart via the Investing News Network.
Today’s crypto news to know
Read on for a round-up of the biggest crypto market news:
- Bitget Wallet crosses 100 million users
- Tether invests in Brazil’s Mercado Bitcoin
- SEC set for major crypto overhaul
- Reserve Bank of India reiterates call for crypto ban
- Recently launched crypto stocks drop from debut prices
Bitget Wallet crosses 100 million users
Bitget Wallet said it has crossed 100 million users globally, with daily payment users now outnumbering traders for the first time in the platform’s history. The data points to crypto wallets becoming a practical part of everyday finance, especially in emerging markets, with H1 2026 card spending reaching US$31 million.
Spending in Southeast Asia, South Asia, Africa and Latin America was up 416 percent, with active cardholders averaging 9.4 transactions per month.
Tether invests in Brazil’s Mercado Bitcoin
Tether is deepening its push into crypto’s financial infrastructure with a US$20 million investment in Mercado Bitcoin, Brazil’s largest crypto exchange. The strategic round backs Mercado Bitcoin’s expansion into tokenization, payments, credit and capital markets across Latin America, while also underscoring Tether’s broader strategy of taking equity stakes in the rails that distribute its stablecoin rather than limiting itself to issuance alone.
“Tether’s mission is to build open, accessible, and efficient financial infrastructure for the world,” Paolo Ardoino, CEO of Tether, said. “Mercado Bitcoin has built exactly that, a regulated, full-stack on-chain financial platform serving millions of users across one of the world’s most dynamic financial markets.
“Its depth of regulatory licensing, tokenization infrastructure, and integrated financial services is unmatched in Latin America. We look forward to supporting Mercado Bitcoin’s next phase of growth as a strategic partner and investor.”
SEC set for major crypto overhaul
The Securities and Exchange Commission (SEC) is gearing up for a massive regulatory overhaul this July with the release of its highly anticipated “Regulation Crypto” agenda.
The proposal aims to clarify the rules around digital assets and establish clear guidelines for the industry while protecting investors. Central to the package are new registration exemptions that would allow crypto startups to bypass the full securities registration process for up to four years as they develop their networks.
During this temporary exemption period, projects would still be legally required to provide necessary financial statements and disclosures to their investors.
Additionally, the SEC is considering a fundraising exemption, championed by Chair Paul Atkins, that would let startups raise up to US$75 million in any 12-month period without undergoing full agency registration.
The overhaul also proposes a crucial investment contract safe harbor designed specifically for decentralized finance (DeFi) projects and token issuers.
Under this safe harbor, once developers are no longer the driving managerial force behind a project and the network becomes fully decentralized, the token would no longer be treated as a security.
Reserve Bank of India reiterates call for crypto ban
India’s cryptocurrency policy remains firmly in limbo, but internal government documents reveal that key authorities continue to push for tighter restrictions and a potential blanket ban, according to a Reuters report.
The Reserve Bank of India (RBI) has doubled down on its long-standing hardline stance by officially backing a policy that leans toward the complete prohibition of digital assets. According to documents from May and June, the central bank argues that domestic banks and financial institutions should be entirely barred from holding, trading or having any exposure to cryptocurrencies or privately issued stablecoins.
The RBI believes isolating the traditional financial system from crypto is necessary to prevent market volatility from spreading to the wider economy.
In tandem with the central bank’s warnings, India’s Income Tax Department has raised its own alarm regarding the severe difficulties of monitoring trades executed on overseas crypto exchanges.
Tax officials stress that this lack of visibility makes it incredibly difficult to enforce compliance, significantly increasing the risk of widespread tax evasion among domestic traders.
Despite these coordinated warnings from major agencies, the Indian government has not yet taken a definitive legislative stand on whether to regulate or outright ban virtual digital assets.
Recently launched crypto stocks drop from debut prices
The post-initial public offering (IPO) landscape for cryptocurrency companies shows major digital asset listings since mid-2025 are currently trading well below their opening prices, BeInCrypto reported.
Leading the massive downward trend is the Gemini Space Station (NASDAQ:GEMI) exchange, which has seen its stock plunge a staggering 89 percent from its US$37 opening trade last September down to just US$4.19 on July 7. Across the sector, BitGo Holdings (NYSE:BTGO) is sitting 77 percent below its January 2026 debut of US$22.43 and Bullish (NYSE:BLSH) shares have sunk roughly 71 percent from their US$90 open in August 2025.
Other recent public entrants have also stumbled: eToro Group (NASDAQ:ETOR) shares are down 42 percent from its May 2025 opening price, while Figure Technology Solutions (NASDAQ:FIGR) and Circle Internet Group (NYSE:CRCL) have dropped a smaller 14 and 6 percent, respectively, from their September and June 2025 debuts.
The persistently weak market performance has completely frozen the upcoming pipeline for future crypto listings, forcing several major firms to push back their planned 2026 debuts as they wait for markets to stabilize.
Kraken’s parent company Payward paused its listing earlier this spring, while industry heavyweights like Grayscale, Consensys and Ledger have similarly postponed their IPO preparations.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
