Bitcoin has surged to a new all-time high, surpassing $123,000, as the U.S. government intensifies its support for the cryptocurrency sector. This unprecedented rally positions Bitcoin as the fifth most valuable asset globally, with a market capitalization of $2.4 trillion, overtaking companies like Amazon.
The surge coincides with "crypto week" in the U.S. Congress, where lawmakers are set to consider several pro-cryptocurrency bills. These include regulations on stablecoins and broader market structure reforms, aiming to integrate digital assets into traditional financial frameworks.
President Donald Trump has been a vocal supporter of the crypto industry, pledging to make the U.S. the global center for digital assets. His administration's pro-crypto stance, coupled with family investments in various crypto ventures, has further fueled investor enthusiasm.
In a significant move, Standard Chartered has become the first major global bank to offer direct spot cryptocurrency trading services, beginning with Bitcoin and Ether paired against the U.S. dollar. This service, launched on July 15, 2025, is targeted at institutional clients and reflects the growing integration of cryptocurrencies into mainstream finance.
However, the rapid growth of the crypto sector has raised concerns about potential money laundering activities. The EU Anti-Money Laundering Authority has identified crypto assets as the top money laundering threat facing the region, emphasizing the need for uniform compliance standards under the new pan-EU crypto licensing framework.
As the cryptocurrency market continues to evolve, the interplay between regulatory developments and market dynamics will be crucial in shaping the future of digital assets.
