KEYTAKEAWAYS
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U.S. House passes three landmark crypto bills, advancing regulatory clarity for stablecoins, securities classification, and anti-CBDC surveillance protections.
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CANARY files for a staked INJ ETF, potentially merging staking yield with traditional finance and expanding ETF offerings beyond Bitcoin and Ethereum.
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Russia’s Sberbank proposes crypto custody services, aiming to dominate domestic digital finance and prepare infrastructure for future CBDC integration.
CONTENT
U.S. HOUSE PASSES THREE MAJOR CRYPTO BILLS TO BUILD COMPREHENSIVE REGULATORY FRAMEWORK
On July 17, the U.S. House of Representatives passed three significant crypto-related bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act—marking a key milestone in digital asset regulation.
The CLARITY Act and Anti-CBDC Act will proceed to the Senate, while the GENIUS Act is expected to be signed into law by President Trump this Friday.
The CLARITY Act passed with 294 votes in favor and 134 against, aiming to resolve jurisdictional overlap between the SEC and CFTC by defining clearer boundaries between crypto assets and securities.
Meanwhile, SEC Chairman Paul Atkins publicly stated that the agency is exploring special regulatory exemptions to encourage tokenization innovation.
He noted the SEC is assessing how to enable flexible regulatory pathways—including conditional exemptions—to help accelerate tokenized securities infrastructure. Atkins also emphasized that stablecoin legislation is a crucial step for the U.S. to become a global crypto hub.
Analysis:
The coordinated passage of these three bills reflects the U.S.’s strategic push toward a holistic crypto legislative framework—covering stablecoins, asset classification, and resistance to surveillance-based CBDCs.
If fully implemented, these laws could reduce regulatory uncertainty, boost investor confidence, and draw global projects and capital back to the U.S.
The shift from fragmented oversight to structured inclusivity positions the U.S. to reclaim leadership in the global crypto-finance space.
CANARY FILES INJ ETF APPLICATION WITH SEC, PUSHING STAKED ASSETS TOWARD COMPLIANCE
According to the U.S. SEC website, asset manager CANARY filed a Form S-1 registration statement on July 17 to launch a spot crypto ETF backed by staked Injective (INJ).
This marks the first attempt to bring a staked crypto asset into traditional markets through a compliant financial product—signaling a broadening of regulatory acceptance beyond Bitcoin and Ethereum.
Notably, the SEC’s recent approval of Solana and Ripple ETFs broke long-standing barriers and is seen as a turning point toward more inclusive regulation.
INJ’s application follows this trend, marking a transition from “selective approval” to “systematic integration” of diverse crypto assets with robust tech foundations and community traction.
Injective, known for its focus on DeFi derivatives and modular trading architecture, is supported by a strong institutional base.
If approved, the staked INJ ETF could offer investors both token exposure and staking yield—introducing a new risk-return profile within compliant investment products.
Analysis:
The filing of a staked INJ ETF underscores a maturing market that’s integrating on-chain innovation with off-chain compliance.
This move could open the door for other staked assets to enter traditional finance. For investors, it presents a new compliant channel to gain crypto yield exposure.
If successful, this product may pave the way for institutional participation in staking ecosystems—reshaping DeFi’s accessibility and legitimacy in regulated environments.
RUSSIA’S SBERBANK TO OFFER CRYPTO CUSTODY, SEEKS TO DOMINATE DOMESTIC DIGITAL FINANCE
Russia’s largest bank, Sberbank, has announced plans to offer crypto asset custody services and has submitted a regulatory proposal to the central bank.
Executive Anatoly Pronin stated that the move aligns with the global trend of traditional banks entering crypto custody, aiming to secure Russia’s digital asset infrastructure.
The proposal suggests regulating custody similarly to traditional bank accounts—enabling enhanced asset protection, lawful asset freezes during investigations, and stronger AML controls. The service will primarily target high-net-worth individuals and institutions.
This signals a major step in Russia’s effort to build a domestic digital financial ecosystem amid geopolitical decoupling and sanctions pressure.
By moving early, Sberbank is positioning itself as the central player in Russia’s evolving crypto framework. The custody service could also serve as a foundational layer for integrating CBDCs and broader national digital asset strategies.
Analysis:
Sberbank’s crypto custody initiative demonstrates Russia’s intent to localize digital finance infrastructure and reduce reliance on global financial systems.
The bank’s proposal echoes a regulatory model familiar to domestic authorities, potentially fast-tracking approval. As institutions adopt custody tools, it could strengthen investor confidence and accelerate institutional adoption.
Long-term, such infrastructure may also support CBDC integration, making Sberbank a cornerstone of Russia’s digital financial sovereignty.
