A user lost $1.23 million in assets due to mistakenly entering a phishing website

The U.S. Senate Banking Committee has introduced a long-awaited draft bill to reshape how digital assets are classified and regulated in the United States. Titled the Responsible Financial Innovation Act of 2025 , the draft introduced by Senate Banking Chair Tim Scott (R-SC), alongside Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH), seeks to create a comprehensive legal framework for digital assets, addressing long-standing regulatory uncertainty in the crypto space. New Senate Crypto Bill Proposes Clear Framework for Token Classification and Oversight The legislation, released just days after the GENIUS Act was signed into law, builds on momentum from the House-passed CLARITY Act and incorporates key elements from the bipartisan Lummis-Gillibrand initiative. Source: Responsible Financial Innovation Act of 2025 One of the bill’s most consequential provisions is the explicit recognition that digital assets, referred to as “ancillary assets,” are not inherently securities. It clarifies that secondary market transactions involving these tokens should not automatically fall under securities laws. However, exceptions apply: if a token’s value is closely tied to promises of profit through managerial efforts, securities laws could still be triggered. In addition, the draft legislation attempts to resolve the persistent jurisdictional tension between the SEC and CFTC. Under the proposed framework, most digital assets would be regulated as commodities, falling primarily under the Commodity Futures Trading Commission (CFTC), while the SEC would retain oversight of investment contracts and investor protection matters. The bill instructs the SEC to modernize disclosure rules and adapt its record-keeping systems to account for blockchain-based financial activity, ensuring compatibility with Web3 ecosystems. Beyond token classification, the legislation spans more than 35 areas of focus. It includes requests for public feedback on topics such as stablecoin regulation, custody frameworks, DeFi exemptions, and illicit finance concerns, including tactics like “ pig butchering” scams . The draft also proposes a “safe harbor” for forward-looking statements, shielding developers from premature enforcement actions, provided their projects meet certain transparency and decentralization standards. Additionally, developers who do not custody user funds could be exempt from some registration requirements, an important provision for open-source innovators. Senator Tim Scott emphasized the bill’s collaborative approach, saying, “This bill gives Congress the opportunity to hear from industry and regulators alike before finalizing a legal framework that protects consumers and encourages responsible innovation.” Stakeholder input is now being solicited, particularly on areas where the SEC and CFTC’s jurisdiction may overlap, with Senate Banking Committee hearings expected in the coming weeks as lawmakers move toward introducing a finalized version. Senate Push for Market Structure Reform Gains Momentum After GENIUS Act Signing Momentum for U.S. crypto legislation continued to build this week with the new draft legislation after President Donald Trump signed the GENIUS Act into law , marking a landmark moment in federal regulation. 🏛️U.S. President Donald Trump signed the GENIUS Act into law on Friday afternoon in a landmark bill signing at the White House. https://t.co/WWqbXyzetr — Cryptonews.com (@cryptonews) July 18, 2025 The GENIUS Act, passed with broad bipartisan support, provides the first federal framework for stablecoin issuers and will take effect 18 months after signing or 120 days after federal regulators, including the Treasury and the Federal Reserve, issue final rules. Alongside the GENIUS Act, two other major proposals, the CLARITY Act and the Anti-CBDC Surveillance State Act, are advancing in Congress. The CLARITY Act was recently approved by the House Agriculture Committee. Meanwhile, the Anti-CBDC Act seeks to block any retail digital dollar issued by the Federal Reserve. 🇺🇸 GENIUS Act, Anti-CBDC Act, and CLARITY Act pass crucial procedural vote 215-211 in Congress after Trump's decisive Oval Office intervention rescues stalled crypto agenda. #GeniusAct #Trump https://t.co/Lm2tCBbimp — Cryptonews.com (@cryptonews) July 16, 2025 Industry executives are watching closely. Ian De Bode of Ondo Finance described the new legislation as “the beginning of a new regulatory era,” pointing to bipartisan cooperation and the role of key figures like Patrick McHenry. Senator Tim Scott said lawmakers are planning to finalize crypto market structure legislation by September 30 . With the GENIUS Act now law and several other bills in motion, the U.S. digital asset space is edging closer to a defined regulatory framework, one that could reshape the crypto sector heading into 2026.

Major stock indices were mixed in the week of major earnings, while memestocks saw major gains.

Bitcoin and Ethereum may dominate crypto discourse, but the second half of 2025 is shaping up to reward a different class of assets that build quietly with utility as Altcoin season intensifies. As capital begins to rotate into tokens that combine infrastructure, governance, and usability, three underappreciated names are emerging: SUI, ARB, and GALA. These tokens are often ignored in mainstream narratives, yet their ecosystems, user metrics, and upcoming milestones position them for a potential breakout in Q3 and Q4. SUI: The Underestimated L1 Gaining Users Sui has developed a distinct approach among Layer 1 blockchains. Its object-based structure and parallel execution support faster, more scalable applications. Despite offering features such as zkLogin and sponsored gas to improve user experience, SUI remains less discussed compared to networks like Ethereum or Solana. Most infra today assumes you’re building alone. The Sui Stack assumes you’re building together – collaborating with users, data, other apps, and agents. It’s not just new plumbing. It’s a rethink of how software is supposed to work. Here’s how 👇 pic.twitter.com/vLk16yCmVe — Sui (@SuiNetwork) July 17, 2025 That may be changing. By mid-2025, total value locked (TVL) on Sui exceeded $580 million, based on DeFiLlama data. Activity in native DeFi platforms and early traction in GameFi are helping to build momentum. Applications like DeepBook and Navi Protocol are active on the network, while its Move-based development environment is attracting focused interest. With a market cap of over $13 billion and growing engagement levels, including 2.4 million interactions tracked by LunarCrush, Sui is seeing increased traction despite limited media focus. Sui is currently trading at $3.96 , 66% up from 30 days ago. ARB: A Governance Token Gaining Strategic Control Arbitrum remains the leading Ethereum Layer 2 network by TVL, yet the ARB token has not reflected that strength in its valuation. As of July 2025, ARB has a $2.5 billion market cap, even though Arbitrum secures over $14 billion in assets and handles large volumes across its applications. The difference now is the role of governance. Token holders are actively directing ecosystem decisions through the Arbitrum DAO, including a recent $200 million allocation to support gaming development. The rollout of Stylus, an upgrade allowing the use of programming languages like Rust and C++, may encourage broader participation from developers. As protocol use continues to expand and the DAO’s treasury oversight grows more visible, ARB may start reflecting its broader network influence. Arbitrum (ARB) has seen an 85% increase in the past month, driven by Altcoin season, and is trading at $0.48 now. GALA: From Speculative Token to Platform Asset GALA, once widely traded during the 2021 cycle, has shifted focus to building a structured Web3 ecosystem. The token now supports multiple functions across Gala Games, including in-game payments , NFT activity, and node infrastructure. While media attention has faded since its early surge, development within the platform continues. Mirandus is FREE to play until July 28th! No Exemplar? No problem. Enter the realm as a Hollow and explore a world of magic, monsters, and fortune. Your adventure begins now → https://t.co/iqj9B7dV9q #Mirandus #GalaGames pic.twitter.com/gKsvssV0Zh — Gala Games (@GoGalaGames) July 18, 2025 In 2025, games such as Mirandus and Legends Reborn are nearing release, while Gala Film and Gala Music are gaining support from creators. GalaChain is being steadily decentralized, and node activity is expanding. GALA now has a market cap of around $900 million. Still, community interaction is climbing. July saw 265,000 engagements and nearly 4,000 social mentions. If the broader GameFi sector sees renewed interest, Gala’s multi-application approach may gain new relevance. The price of GALA has surged by 65% over the past 30 days and is currently trading at $0.02. The Case for Asymmetric Upside SUI, ARB, and GALA offer practical utility with limited exposure. While the market continues to focus on major tokens, these projects are seeing measurable progress in development and user participation. If capital continues shifting toward use-case-driven assets during Altcoin season , these under-recognized names could benefit from renewed interest in the months ahead.